TMI Blog2014 (3) TMI 885X X X X Extracts X X X X X X X X Extracts X X X X ..... is relevant to observe that if complete data of such comparable uncontrolled transaction is not available, then the Revenue is at liberty to discard the CUP method and resort to any other suitable method - assessee contended that it has provided full details to satisfy the authorities below as regards the application of CUP method and hence the matter should be restored to the file of TPO instead of DRP, who had also failed to appreciate the contentions made before him - thus, the order set aside and the matter remitted back to the TPO – Decided in favour of Assessee. - ITA No. 5722/Del/2010 - - - Dated:- 5-3-2014 - Shri R. S. Syal And Shri Rajpal Yadav,JJ. For the Petitioner : Shri Aseem Chawla For the Respondent : Shri Peey ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ublications of Solvent Extractor s Association of India; Price publications of DBL Trade Corporation; and certain third party contracts. The TPO noticed that the CUP data furnished by the assessee did not contain certain relevant factors necessary for determination of ALP such as payment terms, credit period and certain parties invoicing at CIF basis whereas CUP is available at FOB. In such background of facts, the TPO held that CUP method was not applicable and the ALP was required to be done under Transactional Net Martin Method (TNMM). He computed the assessee s PLI of OP/Sales at (-) 5.10%. Certain comparables were chosen whose mean of OP/Sales was worked out at 3.09%. That is how the addition of Rs. 7.23 crores was made towards the int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y such internally comparable uncontrolled transactions for benchmarking the price charged/paid from/to its associated enterprises in comparable transactions. At the same time, it is relevant to observe that if complete data of such comparable uncontrolled transaction is not available, then the Revenue is at liberty to discard the CUP method and resort to any other suitable method. 5. Adverting to the facts of the instant case, it is seen that the details of its export transactions of Soyabean meal to its AEs is available on pages 64 65 of the paper book. Major transactions are of export to AE in Singapore and few transactions are of export to its AE in Indonesia. Page 135 of the paper book is a copy of Invoice dated 21.3.2006 pursuant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... satisfy the authorities below as regards the application of CUP method and hence the matter should be restored to the file of TPO instead of DRP, who had also failed to appreciate the contentions made before him. We can observe from the order of the TPO as well that though detailed submissions were filed before him, but those have not been appropriately considered while proposing the addition of Rs. 7.23 crores. The ld. DR, though relied on the impugned order but suggested that if the matter was to be sent back then it should go to the TPO instead of DRP. Considering the entire conspectus of the case, we are of the considered opinion that the ends of justice would meet adequately if the impugned order is set aside and the matter is restored ..... X X X X Extracts X X X X X X X X Extracts X X X X
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