https://www.taxtmi.com/caselaws?id=289629 The tribunal allowed the appeal, directing the Assessing Officer to delete the addition amount on account of transfer pricing adjustment for the assessment year 2008-09. The tribunal found that the assessee had justified the payment made to the overseas AE using the Comparable Uncontrolled Price (CUP) method, highlighting the Transfer Pricing Officer's failure to provide valid reasons for rejecting the benchmarking and not following prescribed methods. Emphasizing the importance of following prescribed methods in transfer pricing adjustments, the tribunal held that the price paid was at arm's length, ensuring fair treatment and adherence to legal provisions in transfer pricing disputes. en-us Mon, 22 Apr 2019 00:00:00 +0530 Mon, 10 Aug 2020 12:27:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289629 The tribunal allowed the appeal, directing the Assessing Officer to delete the addition amount on account of transfer pricing adjustment for the assessment year 2008-09. The tribunal found that the assessee had justified the payment made to the overseas AE using the Comparable Uncontrolled Price (CUP) method, highlighting the Transfer Pricing Officer's failure to provide valid reasons for rejecting the benchmarking and not following prescribed methods. Emphasizing the importance of following prescribed methods in transfer pricing adjustments, the tribunal held that the price paid was at arm's length, ensuring fair treatment and adherence to legal provisions in transfer pricing disputes. Case-Laws Income Tax Mon, 22 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289629