2018 (10) TMI 1502

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....ises, involving proceedings u/s 144C(13)of the Income Tax Act, 1961 (in short "the Act"). 2. Heard both the parties. Case file perused. 3. We notice at the outset that the assessee's sole substantive grievance challenges the correctness of arm's length price adjustment amounting to Rs. 65,02,40,000/- pertaining to its international transactions of sale/resale of manufactured goods in export, payments of sales margins, services rendered etc. to its associate enterprises. It transpires during the course of hearing that this issue is very much a recurring one between the parties. A co-ordinate bench's order dt. 15/12/2017 pertaining to assessment years 2011-12 & 2012-13 in ITA Nos. 278 & 322/Kol/2016 & 506/Kol/2017, has resto....

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....s for benchmarking appellant's profitability under its Ferrite segment 8. Certified copy of financial information showing profitability earned by the appellant under its Kalyani unit (Ferrite segment) 9. Framework Service Agreement of Epcos AG with other group companies 10. Individual Service Agreement in relation to IT services of Epcos AG with other group companies 11. Sample copies of invoices raised by EPCOS AG on Epcos India and other group companies for provision of IT support services 12. Benchmarking report with respect to the transaction pertaining to payment for business support services (IT support and Export support services 13. Copy of organization structure of EPCOS AG&....

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....orship agreement between EPCOS India and EPCOS Sumperk 27. Cost auditor certificate showing details of capacity utilization and details of contribution earned by EPCOS, Kalyani unit from sale of ferrite for consumption to AEs for AY 11-12 and AY 12-13. 5. According to assessee, it has appointed the new law firm when the appeal was preferred before the Tribunal for A.Y 2011-12. The New Law firm after analysis of the original T. P study has advised the assessee to adopt transaction by transaction method, in place of entity level bench marking approach. According to the assessee, it should not be penalized for the error/mistake which occurred in the first place, because of wrong legal advice of erstwhile attorneys. We note th....