https://www.taxtmi.com/caselaws?id=312699 The ITAT Bangalore directed the AO/TPO/DRP to apply TNMM instead of PSM for royalty adjustment in transfer pricing matters. The assessee successfully contested the revenue authorities' application of profit level method, arguing that TNMM should be used. The tribunal relied on its own precedent from AY 2017-18 and held TNMM as the most appropriate method for the case. The assessee was granted reasonable opportunity to be heard while being directed to avoid unnecessary adjournments for expeditious disposal. en-us Mon, 06 Feb 2023 00:00:00 +0530 Mon, 04 Mar 2024 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312699 The ITAT Bangalore directed the AO/TPO/DRP to apply TNMM instead of PSM for royalty adjustment in transfer pricing matters. The assessee successfully contested the revenue authorities' application of profit level method, arguing that TNMM should be used. The tribunal relied on its own precedent from AY 2017-18 and held TNMM as the most appropriate method for the case. The assessee was granted reasonable opportunity to be heard while being directed to avoid unnecessary adjournments for expeditious disposal. Case-Laws Income Tax Mon, 06 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312699