2019 (5) TMI 1065

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....J. Appellant Through: Mr. Asheesh Jain, Senior Standing Counsel for Revenue with Mr. Adarsh Kumar Gupta, Advocate. Mr. Ruchir Bhatia, Advocate. Respondent Through: Mr. Piyush Kaushik, Advocate. O R D E R 1. These three appeals by the Revenue are directed against the separate orders by the ITAT for Assessment Years (AYs) 2009-10, 2007-08 and 2008-09 respectively. 2. The common issue ....

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....red into by an Assessee (similarly situated as the Assessee in the present case). IN that context, it was observed by this Court as under: "This Court is of the opinion that to apply the transactional net margin method, the assessee's net profit margin realized from the international transactions had to be calculated only with reference to the cost incurred by it and not by any other enti....

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....eference to the relevant factors (costs, assets, sales, etc.) of the enterprise in question, i.e., the assessee, as opposed to the associated enterprise or any third party. The textual mandate, thus, is unambiguously clear." 5. In other words in Li & Fung India Pvt. Ltd. (supra), this Court set aside the approach of the Transfer Pricing Officer ('TPO') for proposing an additional 5% mark-up on ....

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....wed the decision of this Court in Li & Fung India Pvt. Ltd. (supra). 8. What requires to be noticed also is that in relation to this very Assessee for AYs 2011-12, 2012-13 and 2013-14, the Assessee's determination of ALP has been accepted by the Assessing Officer. This fact has been noticed by the ITAT in the impugned order for the AY in question as well. 9. This Court has already held that ....