TMI Blog2020 (8) TMI 929X X X X Extracts X X X X X X X X Extracts X X X X ..... al transactions for the year under dispute. Accordingly, we direct TPO to consider the FAR of the year under consideration with FAR of the years in APA. The assessee is directed to produce all necessary documents in compliance with APA and the AO/TPO is directed to decide the issue in light of APA in respect of international transactions in dispute in the present appeal and adopt the same methodology which has been directed to be adopted in the APA. - ITA No. 6708/DEL/2016 - - - Dated:- 28-8-2020 - SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI KULDIP SINGH, JUDICIAL MEMBER For the Assessee : Shri Himanshu Sinha, Sr. Adv Shri Bhuwan Dhooper, Adv For the Revenue : Shri Anupam Kant Garg, CIT-DR ORDER PER N.K. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and applying TNMM method and made a total adjustment of Rs. 12.41 crores. 6. When the objections were raised before the DRP, the DRP upheld the application of TNMM on the basis that the appellant had adopted TNMM in the previous years. Accordingly, margins of the comparable companies were recomputed. 7. Pursuant to the directions of the DRP, the TPO recomputed the TP adjustment at Rs. 9.58 crores. 8. It would be pertinent to mention here that this is the second round of litigation. In the first round of litigation, the appellant approached the Tribunal disputing the application of TNMM method as against the other method applied by the appellant. The Tribunal remanded the matter to the TPO vide order dated 19.06.2017 with a directi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er consideration is not covered by APA. The ld. DR further stated that the assessee is required to file requisite documents which include certificate of an independent cost accountant or equivalent inter-company agreements, all true ups and true downs etc alongwith Annual compliance report as per Rule 10-O of the IT Rules. The ld. DR further contended that the assessee is required to keep and maintain certain documents as per APA and the same should be produced before the TPO during compliance audit. 14. The ld. DR further stated that there is difference in the TP method pertaining to certain transactions as applied by the assessee in its TP study. 15. We have given thoughtful consideration to the factual matrix and the submissions of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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