length price so determined. However, no
deduction under section 10A [or section 10AA ] or section 10B or
ITA 475/2012 Page 17
under Chapter ... relation to the international transaction in accordance with
sub-section (3) of section 92C and send a copy of his order to the
Assessing Officer
circumstances as
indicated in Section 92Cs (3)(a) to sub-clause (d) of sub-Section (3) of
Section 92C prevails. These circumstances are that ... section (3), the Assessing Officer shall
proceed to compute the total income of the assessee under sub-section (4)
of section 92C having regard
Rule 10B (2) & (3) and the first proviso to Section
92C(2) which apply. There, it was held that having held that the
comparables ... other hand, the margin of variation
permitted is ± 3% (proviso to Section 92C (2) , reduced from the 5% margin
that existed earlier). Introduction
provisions of this section shall not apply in a case where
the computation of income under sub-section (1) or sub-section
ITA 443/2013 ... follows:
"10B. (1) For the purposes of sub-section (2) of section 92C , the
arm's length price in relation to an international
denied the benefit of the proviso to section
92C(2) . The proviso as it existed at the material time, read as under: -
"Provided that ... been put at rest
by the amendment made to section 92C by the insertion of sub-section (2A)
by the Finance Act, 2012 with retrospective
clause (d) of rule
10A read with sub-section (1) of section 92C , therefore, does not
bar or prohibit clubbing of closely connected or intertwined ... follows:
"10B. (1) For the purposes of sub-section (2) of section 92C , the
arm's length price in relation to an international
Margin
Method (TNMM), on aggregation of transactions, as prescribed
under section 92C of the Income Tax Act, 1961". In this
backdrop, we can usefully ... method used for determination of the ALP was the TNMM.
24. Section 92C (1) of the Act contains provisions in relation to various
methods
made the assessment order under
section 143(3) read with section 144C of the Act in terms of the directions
issued ... ITAT from adopting the RPM as the Most Appropriate Method under
Section 92C of the Act, if it so finds in the circumstances
premised upon the existence of one under Section 92B, calling
for adjustment under Section 92C and in the present case, in
fact, there ... existence or absence of comparables having regard to
the mandate of Section 92C and Rule 10B were taken note of.
The relevant discussion and findings
Tribunal err in law in regard to disallowances
made under Section 14A of the Income Tax Act, 1961 [hereafter
"the 1961 Act"] read ... 2018 Page 1 of 8
Price (ALP) determination under Section 92C of the 1961
Act?"
2. The third question urged by the assessee
