which include, inter alia, the transactional net
margin method. Sub-section (2) of section 92C provides that the most
appropriate method referred in sub-section ... under this sub-section:'.
26.3. A circumspect perusal of this proviso read along with sub-
section (4) of section 92C divulges that when
Transactional Net Margin Method (TNMM) as the most appropriate method under Section 92C of the Income Tax Act and further justified the price charged ... factors, appears to be arm's length as provided under Section 92C of the Act. Accordingly, the amounts received/receivable in respect
length price in relation to an international transaction. Sub-section (3) of
section 92C of the Act empowers the Assessing Officer to determine ... section 92C or sub-
section (4) of section 92CA. Notably, sub-section (4) of section 92C comes into
play where an arm's length
defined in section 92B ,
any amount is added or disallowed in computing the
total income under sub-section (4) of section 92C , then,
the amount ... international transaction" defined in Section 92B of the Act
then for the purposes of sub-section (c) of section 271(1) the said
amount
length in terms of the provisions of Sections 92C(1) and 92C(2) of the
Act read with Rule 10D of the Income-tax Rules ... transaction. Sub-section (2B) to section 92CA only enables the TPO to
benchmark an international transaction which has not been reported under
section
erred in levying
interest under section 234D of the Act.
B.5 Initiation of penalty provisions u/s
proceedings ... Assessing Officer by relying on the provisions of section 10A ,
then the first proviso to section 92C (4) of the Act will be rendered
redundant
benefit of +/-
5 % range, as provided in the proviso to section 92C(2) of the Act.
5. That on facts ... other and the
proceedings under section 92CA (1) of the act are not
dependent on the proceedings under section 92C
length price in an international transaction is
contained in sub-section (3) of section 92C . However section
92CA provides that where the Assessing Officer considers ... length price in accordance
with sub-section (3) of section 92C . Sub-section (4) of section
92CA provides that on receipt of the order
years, which is the statutory time
limit for claiming deduction under section 80lB of the Act.
6. That on the facts and in circumstances ... denying the benefit of (+/-) 5% mentioned in the
proviso to section 92C(22) of the Act to the Appellant.
7. That
while determining the ALP, as provided by
proviso to section 92C (2) of the Act.
6. The above grounds of appeals are independent and
without ... determining the ALP
as provided in the provisions of section 92C(2) of Income-tax Act, the CIT
(A) has decided the issue as under
