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TMI Blog2024 (7) TMI 1286X X X X Extracts X X X X X X X X Extracts X X X X ..... P expenses do not constitute an international transaction and hence it does not lead to the creation of marketing intangibles? 2. Whether on the facts and circumstances of the case, the Ld. CIT(A) was right in law in stating that the existence of an international transaction cannot be arrived at from the clauses of an intercompany arrangement? 3. Whether on the facts and circumstances of the case and in law, the Ld. CIT (A) was right in law in holding that the IT Act does not have machinery provision to benchmark the international transaction arising from AMP expenses. 4. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) was right in law in rejecting the BLT to benchmark the AMP transaction. 5. Whether on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... port furnished by the assessee to be erroneous. Accordingly, the TPO determined the Arms Length Price of the international transaction relating to purchases, sales, interest and allocation of cost etc and directed the A.O. to enhance the Assessee's income by Rs. 11,66,20,841/- on account of advertising and publicity expenses and sales & promotion expenses. The draft assessment order has been passed on 17/03/2016 u/s 142(3) red with Section 144C(1) of the Act by assessing the loss of the assessee at Rs. 17,15,08,023/-. The final assessment order came to be passed on 27/04/2016 u/s 143(3) of the Act read with Section 144C of the act by making the very same addition of Rs. 11,66,20,841/- and assessed the income of the assessee at Rs. 17,15,08, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 08-09 and 2009-10 in ITA No. 4346/Del/2011; ITA NO. 6475/Del/2012 and ITA No. 826/Del/2014 dated 31.01.2017 has observed as follows:- "9. Having gone through the cited decisions of the Hon'ble Jurisdictional High court of Delhi in the case of Maruti Suzuki India Ltd. (supra), we find that an identical issue was raised before the Hon'ble High Court. The Hon'ble High Court after discussing issue in detail has come to the conclusion that AMP expenses incurred by the appellant therein, cannot be treated and categorized as an international transaction u/s 92B of the Act. Thus, the issue has been decided in favour of the assessee. The Hon'ble Court in view of the above decision further held that the question of TPO making any tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble Tribunal had held that the issue had been decided in favour of the appellant. It was also stated that the Hon'ble Court in view of the above decision further held that the question of TPO making any transfer pricing adjustment in respect of such transaction under Chapter X did not arise. The Hon'ble High Court had followed its earlier decision in the case of Sony Ericsson Mobile Communication India Pvt. Ltd. vs. CIT (2015) 374 ITR 118 (Del). 11.2 In accordance with the principle of consistency and respectfully, following the aforementioned decision of Hon'ble ITAT, Delhi Bench for AY 2007-08 to 2009-10, the transfer pricing adjustment of Rs 524,440,465 is deleted. In view of the categorical observations of the Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X
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