Cargo Partner Logistics India, Gurgaon vs Ito, Ward 12(2), Kolkata, Kolkata on 27 July, 2022
In this regard, the appellant would like to refer to the ruling
of Hyderabad Tribunal in the case of Social Media India Ltd. v ACIT
(TS-274-2013) wherein it was stated that: (refer page 481, page 487
of compendium to judicial precedents at paragraph 9)
"Nothing has been brought on record by the TPO or by the DRP to
determine the ALP against the value shown by the assessee. In the
absence of any counter report by the TPO/DRP or separate valuation
done by the TPO, the assessee's valuation has to be accepted as it
was supported by an independent valuer, who determined the cost
price on the actual expenditure incurred by the AE. Considering the
totality of the facts of the case, we are of the opinion that the website
purchased by the assessee has to be considered at Arm's length.