TMI Blog2018 (10) TMI 1677X X X X Extracts X X X X X X X X Extracts X X X X ..... to its members whereas Li Fung is providing services on principal to principal basis to its AEs as well as third party. The second distinction is highlighted with respect to the revenue model while in Li and Fung the cost plus was on a certain percentage mark up, the rule here is entirely different. There is no functional similarity and secondly the revenue model, though similar, is not iden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the order, this court observed, as follows : . The findings of the ITAT with respect to the functional similarity, indeed identity, between the assessee in the case of Li and Fung India Pvt. Ltd. (supra) and the assessee in the present case, is clear. The assessee, like in the case of Li and Fung India Pvt. Ltd. (supra), did not assume any risk and was dependent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidered the submissions of the parties as well as the order of the ITAT, which in paras 11 and 12 of the impugned order has distinguished its order in Li and Fung (which was eventually set aside by this court) in the light of the findings of the ITAT which was apprised by this court. The quoted part of the order dated 10.04.2018 is clarified to state that there is no functional similarity and sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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