https://www.taxtmi.com/caselaws?id=337476 The Tribunal upheld the rejection of the Comparable Uncontrolled Price (CUP) method due to the volatility in LNG spot market prices and lack of comparable transactions. Petronet LNG Limited (PLL) and Gas Authority of India Ltd (GAIL) were deemed appropriate comparables for the Resale Price Method (RPM) without requiring comparability adjustments. The Tribunal supported the selection of RPM as the most suitable method, accepting the Profit Level Indicator (PLI) without adjustments. The appeal was dismissed, affirming the DRP's decision and highlighting the adequacy of the assessee's approach to determining the arm's length price. en-us Tue, 27 Dec 2016 00:00:00 +0530 Sun, 08 Jan 2017 19:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337476 The Tribunal upheld the rejection of the Comparable Uncontrolled Price (CUP) method due to the volatility in LNG spot market prices and lack of comparable transactions. Petronet LNG Limited (PLL) and Gas Authority of India Ltd (GAIL) were deemed appropriate comparables for the Resale Price Method (RPM) without requiring comparability adjustments. The Tribunal supported the selection of RPM as the most suitable method, accepting the Profit Level Indicator (PLI) without adjustments. The appeal was dismissed, affirming the DRP's decision and highlighting the adequacy of the assessee's approach to determining the arm's length price. Case-Laws Income Tax Tue, 27 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337476