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2017 (5) TMI 1636

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....nsaction and uncontrolled transaction; provides for instant comparison of the prices of the products/services; and when the OECD guidelines in Para 1.70 clearly suggests that 'an attempt should be made to reach a reasonable accommodation keeping in mind the imprecision of the various methods and the preference for higher degrees of comparability and a more direct and closer relationship to the transaction? 3. Briefly stated, the relevant facts are that the assessee company, an Indian Subsidiary of Amphenol Corporation, Designs, Manufactures and markets electrical, electronic, fiber optic connectors, interconnector systems and coaxial and flat-ribbon cables etc. The assessee filed its return of income for the A.Y. 2010-11 on 14.10.2010 decl....

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.... assessee's own case in ITA Nos.1486/PN/2010, 1548/PN/2011 & 142/PN/2013 order dated 30-05-2014 for the assessment years 2006-07 to 2008-09. Assessee alleged that the comparables adopted by the TPO without providing adjustments to various factors are unsustainable. Adopting of CUP method as appropriate one was also contested before the DRP. Considering the order of the Tribunal, the DRP granted relief to the assessee vide its order dated 24-12-2014. Accordingly, the AO passed the final order dated 18-02-2015. 6. Aggrieved by the above relief granted by the DRP, the Revenue is in appeal before us. 7. The Revenue raised the above referred ground stating that CUP method is required to be adopted in place of TNMM method chosen by the assessee....

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....and upheld the order of the TPO. The assessee preferred appeal before the Hon'ble ITAT,Pune. The ITAT, Pune vide its order dated 30th May, 2014 has upheld the stand of the assesse and allowed its appeal against the orders of the DRP. Findings : 3.17 We have considered the submissions of the assessee as well as the findings and order of the TPO. We have also considered the order dated 30th May, 2014 of the ITAT, Pune for the earlier assessment years 2006-07, 2007-08 and 2008-09. In the earlier assessment years, the issues involved before the ITAT were adjustments made by the TPO to some of the transactions in respect of exports and imports and payment of Commission by the assessee to its AE. The ITAT has dealt with all the three issues....