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Commissioner of Income Tax-3 Versus M/s. Thyssen Krupp Industries India Pvt. Ltd.

2015 (12) TMI 1076 - BOMBAY HIGH COURT

Transfer pricing adjustment - Tribunal restricting the Transfer Pricing (TP) adjustment only to the transaction between the Associated Enterprises (AEs.) - Held that:- in terms of Chapter X of the Act, redetermination of the consideration is to be done only with regard to income arising from International Transactions on determination of ALP. The adjustment which is mandated is only in respect of International Transaction and not transactions entered into by assessee with independent unrelated t .....

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ent of royalty, project engineering and manufacturing drawing fees - ITAT allowed the claim

and (c)Disallowance of payment of liquidated damages - ITAT allowed the claim - INCOME TAX APPEAL NO. 2201 OF 2013 - Dated:- 2-12-2015 - M.S.SANKLECHA AND Dr. SHALINI PHANSALKAR JOSHI, JJ. For The appellant : Mr. Ashok Kotangale with Mr. Arun Nagarjun and Mr. Sunil Sonawane i/b.Padma Divakar For The Respondent : Mr. Madhur Agarwal with Mr. Atul Jasani P.C: This Appeal under Section 260A of the .....

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nterprises (AEs.)? (b) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in allowing the payment of royalty, project engineering and manufacturing drawing fees of ₹ 11,27,16,302/disallowed by the Transfer Pricing Officer (TPO).? (c) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in allowing the payment of liquidated damages of ₹ 2,70,38,000/disallowed by the TPO? . 3 Re:Question (a) (a) The Respondent .....

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d at the margin at 6.29% as against 5.19% arrived at by the RespondentAssesse in its Form 3CEB. However, the TPO proposed to make adjustment on account of enhancement of profit margin on all transactions of the RespondentAssessee. This in spite of the RespondentAssessee's objection to the application of the margin applicable to arrive at ALP at 6.29% on transactions with third party i.e. nonAE transactions. The Assessing Officer passed an order in accordance with the above order of the TPO. .....

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