https://www.taxtmi.com/caselaws?id=286016 The Tribunal upheld the rejection of the Comparable Uncontrolled Price (CUP) method due to volatility in spot LNG prices. Petronet LNG Limited (PLL) and Gas Authority of India Ltd. (GAIL) were deemed suitable comparables for the Resale Price Method (RPM). Despite differences in Functions, Assets, and Risks (FAR) analysis, RPM was considered the most appropriate method. The Profit Level Indicator (PLI) for RPM was accepted without comparability adjustments. The Tribunal dismissed the Assessing Officer's appeal to set aside the Dispute Resolution Panel's directions, affirming the DRP's decision. en-us Tue, 27 Dec 2016 00:00:00 +0530 Sat, 08 Feb 2020 20:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286016 The Tribunal upheld the rejection of the Comparable Uncontrolled Price (CUP) method due to volatility in spot LNG prices. Petronet LNG Limited (PLL) and Gas Authority of India Ltd. (GAIL) were deemed suitable comparables for the Resale Price Method (RPM). Despite differences in Functions, Assets, and Risks (FAR) analysis, RPM was considered the most appropriate method. The Profit Level Indicator (PLI) for RPM was accepted without comparability adjustments. The Tribunal dismissed the Assessing Officer's appeal to set aside the Dispute Resolution Panel's directions, affirming the DRP's decision. Case-Laws Income Tax Tue, 27 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286016