https://www.taxtmi.com/caselaws?id=305795 The appeal was recalled for fresh hearing after being dismissed ex-parte initially. The Tribunal found the application of the Comparable Uncontrolled Price method inappropriate and supported the use of the Transactional Net Margin Method. The Transfer Pricing study report showed no adjustment was necessary due to a higher margin. The Tribunal disagreed with the Assessing Officer's Transfer Pricing adjustment, emphasizing the need for compliance with prescribed methods and comparison with uncontrolled market transactions. The appeal was allowed, deleting the Transfer Pricing adjustment made in the final assessment order. en-us Mon, 03 Jan 2022 00:00:00 +0530 Sat, 24 Dec 2022 11:08:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305795 The appeal was recalled for fresh hearing after being dismissed ex-parte initially. The Tribunal found the application of the Comparable Uncontrolled Price method inappropriate and supported the use of the Transactional Net Margin Method. The Transfer Pricing study report showed no adjustment was necessary due to a higher margin. The Tribunal disagreed with the Assessing Officer's Transfer Pricing adjustment, emphasizing the need for compliance with prescribed methods and comparison with uncontrolled market transactions. The appeal was allowed, deleting the Transfer Pricing adjustment made in the final assessment order. Case-Laws Income Tax Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305795