https://www.taxtmi.com/caselaws?id=758605 The ITAT Kolkata held that the TPO must follow DRP directions regarding transfer pricing adjustments. The tribunal ruled that TNMM method should be applied instead of ROCE, and aggregation approach should be used for TP study. The TPO was directed to conduct separate re-workings for purchase of fixed assets transaction, exclude rejected comparables as per DRP directions, and apply consistency rule for comparables. The matter was remitted back to TPO/AO for fresh adjudication following DRP guidelines. The assessee's appeal was allowed for statistical purposes. en-us Mon, 19 Feb 2024 00:00:00 +0530 Tue, 17 Sep 2024 08:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758605 The ITAT Kolkata held that the TPO must follow DRP directions regarding transfer pricing adjustments. The tribunal ruled that TNMM method should be applied instead of ROCE, and aggregation approach should be used for TP study. The TPO was directed to conduct separate re-workings for purchase of fixed assets transaction, exclude rejected comparables as per DRP directions, and apply consistency rule for comparables. The matter was remitted back to TPO/AO for fresh adjudication following DRP guidelines. The assessee's appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 19 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758605