Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (2) TMI 220 - ITAT MUMBAITP Adjustment - adjustment with respect to the arm’s length price for technical assistance received by the appellant from Colgate Palmolive Company, USA (‘CP US’) - as argued assessee is not an associated enterprise of the Colgate Palmolive USA, and as such the question of ALP adjustment does not arrive - CIT(A) held that the assessee and the Colgate Palmolive are associated enterprise by virtue of section 92B(2) and ALP was warranted - HELD THAT:- As learned counsel rightly points out once its factual aspect which permeates from through different assessment years has been found one way on the other and the parties have allowed that position to be sustained by not challenging the order it would not at all be appropriate to allow that position to be changed in the subsequent year, as was held Hon’ble Supreme Court in its landmark judgment in the case of Radhasoami Satsang (1991 (11) TMI 2 - SUPREME COURT]. As when on a factual aspect there is an unchallenged and undisputed finding holding a particular position it would not normally be appropriate for the same to be disturbed. We find that is no reason to dispute the assessee contention that no ALP adjustment in respect of the similar payments made for the assessment years 2001-02, 2002-03 & 2003-04 and that the relief granted by the learned CIT(A) on this point when the adjustments were made in the assessment year 2004-05 has not been challenged. In these circumstances and for the short reason alone in our considered view the impugned ALP adjustment must be deleted. As for the DR apprehension about the factual basis of the relief being so granted being incorrect, there are appropriate remedial measures prescribed by the law. What we have decided is this is based on the material before us and we have no reason to dispute the correctness of validity of the statements being made before us and the documents being filed before us unless specific cogent reasons are pointed out for the same.
|