2016 (11) TMI 383

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....on the facts and in the circumstances of the case and in law, the Ld. Dispute Resolution Panel was justified in deleting the addition of sum of Rs. 19,05,70,279/-, being the amount of adjustment made by the Transfer Pricing Officer (TPO) on account of Arm's length Price related to international transactions, without appreciating the facts that the segmental result worked out by the TPO are more authentic and precise than that submitted by the assessee? 2. The appellant prays that the directions of the DRP-III on the above ground be set aside". 2. Brief facts and background of the case are that, the assessee is engaged in execution of Engineering Procurement and Construction Contracts ('EPC Contracts') and Electrical and Instrumentation ....

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....s as well as the grounds taken by the Department, it is seen that, the contention which has been raised in the grounds is factually incorrect because the Department in the said ground had placed reliance on the segmental results worked out by the TPO considering them to be more authentic and precise, whereas, the TPO while passing the transfer pricing order has applied entity level benchmark. Thus, on this ground itself, the appeal of the revenue can be held to be not maintainable. In any case, we find that, the DRP has followed the Tribunal's order in assessee's own case for the AY 2006-07 and 2008-09 while granting the relief, wherein, it has been directed that TPO should consider the segmental evidence submitted by the assessee. Since th....