TMI Blog2019 (7) TMI 1618X X X X Extracts X X X X X X X X Extracts X X X X ..... and sales and can only be decided under TNMM. On this premise, the Tribunal set aside the impugned order and remanded the issue back to the ld. TPO to decide it afresh after providing an opportunity to the assessee. With this view of the matter, we set aside order and remand the issue relating to the royalty and product development fee to the file of the ld. TPO for deciding it afresh - Appeal is allowed for statistical purposes. - I.T.A. No.6962/Del/2018 - - - Dated:- 30-7-2019 - Shri Pramod Kumar, Vice President And Shri K. Narasimha Chary, Judicial Member Assessee by: Shri Himanshu Sinha, Advocate Shri Bhuvan Dhooper, Advocate Department by: Shri H.K. Choudhary, Sr. DR ORDER K. Narasimha Chary, J.M. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e arrived at arm s length price. The grievance of the assessee is that ld. DRP did not grant any relief in respect of the Royalty and Product Development fee resulting in the assessment order dated 7.9.2018 with transfer pricing adjustment of ₹ 11,47,92,236/- to the income of the assessee. 4. It is, therefore, aggrieved by the non grant of Royalty and Product Development fee, assessee preferred this appeal on several grounds. 5. Learned AR submitted that the assessee had been following the TNMM method consistently and it has been accepted by the authorities, He further submitted that the assessee produced the agreement invoice issued by Nissin Kogyo, evidence for product development fee other AEs to Nissin Kogyo, product w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing in the armchair of the businessman/assessee. The Tribunal further held that the application of benefit test is impermissible and as a matter of fact the payment of royalty and product development fee are intrinsically interlined with the production and sales and can only be decided under TNMM. On this premise, the Tribunal set aside the impugned order and remanded the issue back to the ld. TPO to decide it afresh after providing an opportunity to the assessee. With this view of the matter, we set aside the imp9utgned order and remand the issue relating to the royalty and product development fee to the file of the ld. TPO for deciding it afresh in view of our above directions. 8. In the result, appeal is allowed for statistical pur ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
