TMI Blog2023 (4) TMI 455X X X X Extracts X X X X X X X X Extracts X X X X ..... nal comparables as per law in very terms. - ITA No.392/PUN./2022 - - - Dated:- 30-12-2022 - SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMASHALI, ACCOUNTANT MEMBER For the Assessee : Shri Vishal Kalra For the Revenue : Shri Naveen Gupta, CIT ORDER PER SATBEER SINGH GODARA, J.M. This assessee s appeal for Assessment Year 2017-18 arises from the ACIT, Circle-8, Pune s assessment dated 30.03.2022 as per DIN Order No. ITBA/AST/S/143(3)/2021-22/1042108664 (1), in proceedings u/s.143(3) of the Income Tax Act, 1961 [in short the Act ], framed as per CIT-(DRP-3), Mumbai-2, Mumbai s directions dated 16.02.2022 involving DIN Order No. ITBA/DRP/ F/144C(5)/2021-22/1039822679(1), in proceedings u/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee company is engaged in the manufacture and distribution of fluid power equipment such as pumps, gear pumps, valves, cylinders an related components for mobile and industrial markets. The assessee company is a joint venture of Mahindra Mahindra Ltd. Presently, the assessee has become a wholly owned subsidiary of Eaton Corporation. During the year under consideration, the assessee reported international transactions with its AE pertaining to import of raw materials, trading goods and components. In manufacturing activity, the assessee submitted segmental profitability of accounts of AE transactions and Non-AE transactions and applied internal TNMM comparing loss incurred with Non-AE segment with profit that arrived in AE se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he internal TNMM adopted by the assessee in determining ALP of its international transactions in purchase of raw material, components and finished goods. Accordingly, ground No. 2 raised by the assessee is allowed. 5. The Revenue is fair enough during the course of hearing that this tribunals yet another coordinate bench s common order in its cross appeals with the assessee involving assessment years 2010-11 and 2011-12 dated 15.10.2018 (pages 6 to 36 in paper book) has also declined the very arguments regarding all these three issues. We thus adopt judicial consistency in absence of any distinction in all these assessment years and decide the instant three issues in assessee s favour and against the department. The former s instant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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