purpose of computing the Arm's
Length Price (ALP) under Section 92C of the Income-tax Act,
1961. The price was computed taking ... fall within the charging
section."
17. The learned senior counsel, therefore, contended that the
computation provisions provided under Section 92C cannot be
applied
grant 5% safe harbour range available to it
under proviso to Section 92C(2) of the Act.
(vi) TPO failed to consider the valuation made ... harbour as claimed by the assessee at 5% under
proviso to Section 92C(2) could not be given, since
amendment introduced by the Finance
Pricing ("TP") documentation of the Appellant as required
under section 92C(3) of the Act;
• without appreciating that the management services
transaction undertaken ... necessitating
aggregation approach for the purposes of TP in
accordance with section 92C of the Act read with Rule10B
of the Income- tax Rules
action of the Ld. TPO,
without satisfying the conditions prescribed under Section 92C(3)
of the Act.
5. Erroneous Rejection of segmentation Adopted ... Chny/2017
:- 6 -:
presumptions, surmises, conjectures and allegations, violating
section 92C(1) of the Act read with Rule 10B of the Rules.
Further, disregarded
satisfying any of the conditions prescribed under Section 92C(3)
of the Act before making an adjustment to the income of the
Appellant.
3. Erred ... percent from
the arithmetic mean as provided in proviso to Section 92C(2) of
the Act, while computing adjustments to the total income
CBDT") Circular 14 issued in 2001, which read
with Section 92C(3), which puts the primary onus on the
assessee to determine ... differences in the
management.
The assessee further submitted that Sec 92C read with
10B (4) & 10D (4) does not provide any guidance for application
Chennai dated 24.01.2011 passed
under section 143(3) read with section 92C(4) of the Income
Tax Act, 1961. The assessee has filed Cross Objection ... method, as TNM method
is one of the approved methods under section 92C of the Act
for determining arm's length pricing in relation
This
return was processed u/s 143(1). Subsequently, a reference u/s 92C
of the Act was made to the TPO by the Assessing ... such
adjustment of purchases should not be made in accordance with
section 92C(4) of the Act. The assessee filed its written submission
margin of plus or
minus 5% as per Proviso to Section 92C(2) was also not
7 ITA.1789 /Mds/11
considered ... assessee in regard to the
applicability of the proviso to Sec.92C(2) by holding that the
said proviso shall apply only if most appropriate
behalf of
AEs when it is not a prescribed method under section 92C(1) of the Act read with Rule 10B
of the Income ... overruled by Delhi High Court
and the other High Courts. Sec.92C of the Act provides that ALP of
international transaction shall be determined
