https://www.taxtmi.com/caselaws?id=437063 Section 263 revision was unsustainable because the assessment order was not shown to be both erroneous and prejudicial to the interests of the revenue. The assessment had accepted the assessee's profit attribution methodology for an Indian dependent agent permanent establishment, and the dependent agent was already remunerated at arm's length with no transfer pricing adjustment made to that remuneration. On those facts, the mere existence of the dependent agent permanent establishment did not justify further attribution, and the revisional authority also failed to examine whether the remuneration itself was below arm's length. The revision was therefore set aside. en-us Tue, 24 Jan 2023 00:00:00 +0530 Wed, 26 Apr 2023 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437063 Section 263 revision was unsustainable because the assessment order was not shown to be both erroneous and prejudicial to the interests of the revenue. The assessment had accepted the assessee's profit attribution methodology for an Indian dependent agent permanent establishment, and the dependent agent was already remunerated at arm's length with no transfer pricing adjustment made to that remuneration. On those facts, the mere existence of the dependent agent permanent establishment did not justify further attribution, and the revisional authority also failed to examine whether the remuneration itself was below arm's length. The revision was therefore set aside. Case-Laws Income Tax Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437063