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2016 (9) TMI 306 - DELHI HIGH COURT

2016 (9) TMI 306 - DELHI HIGH COURT - TMI - Transfer pricing adjustments - Benefit of 30% given in the profit margin of Titagarh Wagons Ltd. (TWL) for the "free of cost supplies" received by TWL from the Railways - Held that:- TPO has not taken into consideration the proper information related to the free of cost. material provided by the Railways to Titagarh Wagons Ltd. as well as to Texmaco Ltd. and thus the said information is necessary to take into account the functions performed, assets emp .....

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the OP/TC margin of 13.65% for determining the arm's length margin as claimed by the Assessee. - ITA 391/2016 - Dated:- 27-7-2016 - S. MURALIDHAR & NAJMI WAZIRI JJ. Appellant Through: Mr. Dileep Shivpuri with Mr. Sanjay Kumar, Advocates. Respondent Through: Mr. Neeraj Jain with Mr. Aniket D. Agrawal, Advocates. O R D E R CM APPL No. 25180/2016 (for condonation of delay) 1. For the reasons stated therein, the delay of two days in filing the appeal is condoned. 2. The application is disposed .....

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TWL) for the "free of cost supplies" received by TWL from the Railways. It is submitted that since the Assessee could not quantify the exact amount involved in the "free of cost supplies", then there was no basis for allowing the benefit of the 30% deduction. 5. The Court notes that the Assessee had before the Dispute Resolution Panel submitted that though TWL received wheel sets, cartridge tapered roller bearing and steel etc. free of cost from Indian Railways, the Managing .....

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