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TMI Blog2024 (10) TMI 869X X X X Extracts X X X X X X X X Extracts X X X X ..... ade, the delay of 807 days in refilling the appeal is condoned. Application stands disposed of. ITA 453/2024 1. The Principal Commissioner impugns the order of the Income Tax Appellate Tribunal [Tribunal] dated 20 December 2019 and posits the following questions of law for our consideration: "A. Whether, the facts and circumstances of the case and in law, the Hon'ble ITAT was justified in its decision in holding that AMP expenditure incurred during the year by the assessee does not constitute an 'International Transaction? B. Whether, the facts and circumstances of the case and in law, the Hon'ble ITAT was justified in holding that the "Brightline Test" was not mandated in law and hence impermissible without considering t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le ITAT erred in not appreciating that the Arm's Length Price of an international transaction, as defined in Section 92F(ii) of the Income Tax Act, 1961, is the price applied or proposed to be applied in an uncontrolled transaction, and consequently must remain un-influenced by extraneous factors and post-transaction events like foreign exchange fluctuation which are likely to materially affect the actual receipt or payment but do not impact the price intended to be charged or paid? G. Whether, the Hon'ble ITAT erred in not appreciating the facts that the TPO followed the provisions of Rule 10B (3) by similarly treating foreign exchange fluctuation, Provision for doubtful debts & Provisions written back as non-operating cost/revenue of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an 'International Transaction'? 2.2 Whether, the facts and circumstances of the case and in law, the Id. ITAT was justified in holding that the 'Brightline Test' was not mandated in law and hence impermissible without considering the facts that BLT was not used as a method to determine the price but only as an economic tool to arrive at the cost of services rendered to foreign enterprise by the Indian entity and when the TPO has the mandate to determine such cost as a primary step in ALP determination as provided under the Rules? 2.3 Whether, on the facts and circumstances of the case and in law, the Id. ITAT was justified in stating that existence of an international transaction cannot be arrived at, from the clauses of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... without considering the findings of the TPO w.r.t. product similarity. ITAT has failed to give detailed FAR w.r.t. inclusion and exclusion of comparable? 2.8 Whether, in the facts and circumstances of the case the Id. ITAT was right in law in including HCI. Infosystems Ltd. functionally comparable without considering the findings of the TPO w.r.t. this company has different financial year data?" 2. We note that insofar as questions 2.1 to 2.5 are concerned, the Tribunal has rested its view on the decision rendered by this Court in Sony Ericsson Mobile Communications India Pvt. Ltd. vs. Commissioner of Income-Tax 2015 SCC OnLine Del 8083. The view so expressed is clearly unexceptionable. 3. That only leaves us to examine the findings ..... X X X X Extracts X X X X X X X X Extracts X X X X
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