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2019 (5) TMI 1065

s in relation to facilitation and market support to its AEs in order to facilitate sourcing transactions of its AEs with prospective sellers - application of TNMM - HELD THAT:- As in Li & Fung India Pvt. Ltd. [2014 (1) TMI 501 - DELHI HIGH COURT] this Court set aside the approach of the TPO for proposing an additional 5% mark-up on the free on board value of exports to third parties as the sam .....

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(for delay), ITA 1130/2018 & CM APPL. 44228/2018 (for delay) - 13-5-2019 - S. MURALIDHAR AND I.S.MEHTA JJ. Appellant Through: Mr. Asheesh Jain, Senior Standing Counsel for Revenue with Mr. Adarsh Kumar Gupta, Advocate. Mr. Ruchir Bhatia, Advocate. Respondent Through: Mr. Piyush Kaushik, Advocate. O R D E R 1. These three appeals by the Revenue are directed against the separate orders by the ITAT f .....

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this Court was regarding the determination of the ALP in respect of transactions entered into by an Assessee (similarly situated as the Assessee in the present case). IN that context, it was observed by this Court as under: This Court is of the opinion that to apply the transactional net margin method, the assessee s net profit margin realized from the international transactions had to be calcula .....

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pplied). It thus contemplates a determination of the arm s length price with reference to the relevant factors (costs, assets, sales, etc.) of the enterprise in question, i.e., the assessee, as opposed to the associated enterprise or any third party. The textual mandate, thus, is unambiguously clear. 5. In other words in Li & Fung India Pvt. Ltd. (supra), this Court set aside the approach of t .....

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i & Fung India Pvt. Ltd. (supra). In the present case as well the ITAT has followed the decision of this Court in Li & Fung India Pvt. Ltd. (supra). 8. What requires to be noticed also is that in relation to this very Assessee for AYs 2011-12, 2012-13 and 2013-14, the Assessee s determination of ALP has been accepted by the Assessing Officer. This fact has been noticed by the ITAT in the i .....

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