TaxTMI 
TaxTMI 
2020 (3) TMI 470
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....o far as it is pertains to the amount attributable to services rendered by Vice President Manufacturing. 2. The learned CIT(Appeals) erred in fact and in law in not considering the argument of the Appellant that the AO had not provided reasonable opportunity to the Appellant to submit the documentary evidence and to present the facts of the case. 3. The learned CIT(Appeals) erred in fact and in law in confirming the action of the AO in computing tax by applying the provision of Section 44D of the Act in complete disregard to the facts of the Appellant's case and also the provisions of the Double Tax Avoidance Agreement with USA *"the DTAA"+. 4. The learned CIT(Appeals) also erred in fact and in law in completely ignoring the provisions of Article 12 Para 6 of the DTAA in levying tax as "Fees for Technical Services", while holding that the Appellant has permanent establishment in India and the said services are attributable to the said permanent establishment. Adjustment under Section 92 of the Act : 5. The learned CIT(Appeals) erred in confirming the action of the AO in invoking the provisions of Section 92 of the Act and adding 10% mark....
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.... IV. To ascertain the tax liability, if any, of such amounts receivable under the MPA, the Appellant filed an application before Authority of Advance Ruling (AAR). V. it was the submission of The AR that AAR vide its order dated August 19, 1997 specifically negated that the amounts constitute fee for technical services ('FTS') but held that GMOC (referred to as XYZ in the ruling) constitutes Permanent Establishment ('PE') in India and any amount received by it will be taxable as business profits under Article 7 of the India USA Tax Treaty ('DTAA') VI. It was the contention of the AR that out of expatriates mentioned above, during the subject year only following two personnel were assigned to GMIL under the provisions of MPA. President and Managing Director - Mr. Aditya Vij; and Vice President manufacturing - Mr. Satyasree Veerpaneni VII. In relation to above, the Appellant raised invoices for US$ 284,288.28 on GMIL. In view of the ruling delivered by AAR, such amounts were disclosed as business receipts in the Return of Income (Rol). Further, given that these amounts as invoiced to GMIL were on "cost as incurred basis", therefore in absence ....
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....ni Qualification : B. Tech. Designation : Vice President (Manufacturing) Work Profile : As per the MPA between GMIL & GMOC work profile of Vice President (Manufacturing) is as under : "Vice President of manufacturing Engineering - will be responsible for overall management of GMI facilities to manufacture and assemble products of GMI according to required standards and for production of such products according to those standards." 7. It was submitted that the services rendered by above persons deputed to India are in the nature of managerial services and not in the nature of technical or consultancy services. It was further contended by appellant that as per article 12 of the India-US double tax avoidance agreement, the services provided by employees deputed to India are not in the nature of "fees for included services". From the definition of "fees for included services", it will be observed that fees for included services" means payments of any kind of any person in consideration for the rendering of any technical or consultancy services (including through the provision of services of technical or other personnel) if such services make....
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....ot make available any technological, experience, skill, know-how or process, which enable the person obtaining the services to apply the same. However, that payment has to be taxed under the head business income. Further, in the case of Vice President (Manufacturing), he is qualified, well experienced technical personnel. His services were made available to the Indian subsidiary. His technical experience was utilized by the Indian subsidiary in its day today production activities. Hence, the payment will come under the purview of fees for included services." XII. Feeling aggrieved by the order passed by the CIT(A), the assessee is in appeal on the grounds mentioned hereinabove. In fact , grounds raised by the assessee in all the assessment years are common. Therefore, we are taking the appeal No. 1282/M/09 as the lead case with the consent of both the parties and deciding the appeals by passing a composite and common order in all the appeals mentioned in the cause title. SUBMISSIONS OF THE AR XIII. Firstly, learned AR submitted that once a finding has been given by the Authority for Advance Ruling (AAR) in respect of the services rendered by the President, Managing Directo....
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....on." xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx "29 ............. It is true that four out of five of the deputationists are engineers. But these are days in which even engineers have to qualify in management skills. The authority has no information or material on record to indicate that the employees were rendering services of a nature falling beyond the terms of the agreement. In the circumstances, the authority has no option but to conclude that the services of the nominees of "XYZ" are "managerial" and not "technical or consultancy" services within the meaning of Article 12. The authority, however, leaves it open to the concerned authorities, in appropriate proceedings, to examine the factual position and take appropriate action if they find that the factual situation is otherwise. 30.In the result, the Authority finds, on the facts available to it, that the Services of the five nominees of `XYZ' are not covered by the expression 'included services' in art. 12. The consideration received by `XYZ' for these serv ices is therefore, assessable not under art. 12 but as business profits under art. 7 r/w 5(2)(1) of the DTAA. There was....
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....authorities. Our attention was drawn to the decision in the case of Radhasoami Satsang, reported in 193 ITR 321 (SC) and Bharat Sanchar Nigam Ltd. (183 of 2003) XVII. Thirdly, it was submitted by the Ld.AR that as per the provision of the DTAA , the technology was not made available by the assessee to the Indian company and therefore the assessee cannot be held liable for taxation for FIS. It was submitted that make available is a sine qua non for the purpose of invoking the FIS and in the absence of making available the technology, FIS cannot be charged/assumed. Learned AR in support of the above contention had filed the written submissions to the following effect : " 15.4. Without prejudice to the above, the Appellant wish to submit that the amounts charged by GMOC under the MPA were not in nature of FTS either under the Act or the DTAA. In support, it is reiterated that under the MPA, the Appellant had only assigned personnel to GMIL and not rendered any services per se. In support, attention is invited to the clause 8 of the MPA. Relevant extract is reproduced below for your Honor's ease of reference. (Refer para 8 on page 6 of Convenience Set) "No guar....
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....ubmitted above GMOC charges GMIL for salary and other direct costs of the personnel assigned to latter. Thus, salary for such personnel is paid by GMOC and corresponding amount is charged from GMIL. Such amounts paid by GMOC to assigned personnel is chargeable to tax in hands of such personnel as income chargeable under the head 'Salaries'. The Appellant also withheld taxes on such payments under section 192 of the Act and deposited the same with Indian Government. Further given that such salary arises on account of services rendered in India, the same were offered to tax by such personnel as Salary income in their India tax return. 15.9. Thus, exception (b) above is applicable in instant case. In support, reference is invited to following judicial precedents. * Morgan Stanley Asia (Singapore) Pte (ITA No. 8595/Mum/2010) (Mumbai-Tribunal). The relevant extract of the judgment is reproduced below for your reference. (Refer page 45 of Convenience Set) "10 ...It is a fact that there is contractual agreement between MSAS and assessee, which clearly provides that salary is paid b_y assessee on behalf of MSAS and the same is recharged by assessee to MSA....
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....said conditions cannot be construed as FTS under the DTAA. 15.12. With respect to condition (a) above, it is submitted that payments made by GMIL under MPA cannot be termed to be in nature of technical and consultancy service. The aforesaid definition of FTS covers only technical and consultancy services. Unlike the Act and/ or other tax treaties entered into by India, word 'managerial' is not covered under the DTAA. Thus, in case services rendered are managerial in nature, the same cannot be construed to be in nature of FTS under the DTAA. This view is also supported by various judicial precedents reproduced under Annexure B. 15.13. Further, as per clause 2 of the MPA, the executive personnel to be provided were to render services connection with development of general management, finance, purchasing, sales, service, marketing and assembly/ manufacturing activities. Such services were 'managerial' in nature only. This fact has been accepted by the AAR also in its ruling rendered in case of Appellant itself. The relevant extract of the AAR is again reproduced hereunder. (Refer para 29 on page 54 ofpaper book). 'The Agreement sets out t....
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....ssion of the Ld.AR that in accordance with article 7 (3) of the treaty and also in view of the pronouncement of the coordinate bench, the assessee is required to be taxed on net basis rather than on gross basis . Further the AR in the written submissions had submitted as under in this respect:- 15.15. As per Article 5(1) of the DTAA, PE means a fixed place of business through which the business of an enterprise is wholly or partly carried on. In relation to this, the Appellant would like to submit that the personnel were generally assigned on long term basis to GMIL under the MPA. 15.16. It is submitted that one of the assignees namely Mr. Satyashree Veerponeni was present in India for 6 years from financial year (FY) 2003-04 to FY 2009-10. It is thus submitted that the Appellant constituted a PE in India under provisions of Article 5. 15.17. Further, on a combined reading of Article 5 and 7 of the DTAA it is evident that taxable income of the taxpayer having a PE in India is to be computed on net basis as per provisions of Article 7 of the DTAA. 15.18. The position that Appellant constitutes a PE in India and that the consequent profits are taxa....
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....n the business in other contracting states (India) in which FIS arises through PE situated therein, then in such case the provisions of Article 7 i.e "Business Profits" shall apply. In other words, if there is a PE, then Royalty or FIS cannot be taxed under Article 12, albeit only under Article 7 of the DTAA." In view of the above and even in case it is assumed that the payments received by GMOC were FTS in nature, given that the same were attributable to Appellant's PE in India, the same will be taxable under provisions of Article 7. 15.22. Further, as per Article 7 of the DTAA, the Appellant is allowed to compute its income after giving impact to all the expenses incurred in earning the business receipts. In this respect, reference is again invited to judgement rendered by jurisdictional Mumbai ITAT in the case of Morgan Stanley International Incorporated (supra). The relevant extract of the judgement is reproduced hereunder. (Refer para 8 on page 66-67 of Convenience Set) "Thus, in our conclusion, the payment made by the Indian entity to the assessee on account of reimbursement of salary cost of the seconded employees will have to be seen and exami....
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....terate that the amounts received were on account of cost to cost reimbursement of expenses equivalent to the costs incurred by it in relation to personnel assigned to GMIL (refer clause 4 of the MPA on page 85-86 ofpaper book read with letter dated March 31, 20161page 3-4 of Convenience Set). In this respect, the Appellant had also prepared and filed Transfer Pricing report and Form 3CEB to indicate Arm Length Price (ALP) of the transactions undertaken under MPA. 16.2. Further, the Appellant would again like to bring attention on the fact that MPA was pre- approved by MO! and thus the Appellant could not have made payments in excess of what was provided in the terms approved by MOl. 16.3. However, in the Assessment Order the Ld. AO completely disregarded these contentions of the Appellant. It is further highlighted that the Ld. AO did not provide any opportunity in this respect to the Appellant. The Appellant came to know about such adjustment on receipt of assessment order. Further your Honour's would also appreciate that the Ld. AO did not refer the matter to TPO for computation of ALP in respect of transactions undertaken under the MPA but imputed a mark-up....
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....No. 9 and therefore the same may kindly be dismissed as not pressed. XXIII. In respect of ground No. 10, it was submitted that the issue is covered in favour the assessee by virtue of the decision of the Jurisdictional High Court as well as of Delhi High Court . The assessee had also filed the written submissions in support of the ground 10 to the following effect: 18. With respect to aforesaid grounds it is submitted as under: 18.1. Provisions of section 234B of the Act are not applicable to the present case. The Ld. AO and/ or Hon'ble CIT(A) erred in not appreciating that no interest under Section 234B of the Act was payable by the Appellant as the entire income of the Appellant was subject to withholding tax. 18.2. Interest under section 234B of the Act is leviable for default in payment of advance tax. The relevant provision of section 234B of the Act as applicable for subject year(s) is reproduced herewith for your reference: "234B. (1) Subject to the other provisions of this section, where, in any financial year, an assessee who is liable to pay advance tax under section 208 has failed to pay such tax or,where the advance tax paid by....
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....ention that it is not liable to tax in India/ no income taxable in India, it is submitted that the Appellant being a non-resident entity in India, tax is deductible at source on any income taxable in India in accordance with the provisions of section 195 of the Act. In view of the above, it is submitted that the provisions of section 234B has no application to captioned matter(s). 18.8. Reliance in this respect is placed on following judgments: • DIT vs Ngc Networks Asia [2009] 222 CTR 85 (Born HC)] (Refer page 52 of Convenience Set) -8. We are in respectful agreement with the view taken In the case of CIT v. Sedco Forex International Drilling Co. Ltd. ( supra), by the Uttaranchal High Court. We are clearly of the opinion that when a duty is cast on the payer to pay the tax at source, on failure, no interest can be imposed on the payee assessee." • GE Packaged Power Inc [2015] 56 taxmann.com 190 (Delhi- HC) • DIT(IT) v WNS Global Services (UK) Ltd [2013] 32 taxmann.com 54 (Born HC) LIDIT(JT) v Chiron Bearing Gmbh & Co. (UK) Ltd [2013] 29 taxmann.com 199 (Born HC) L * Sedco Forex International Drilling ....
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....ch was to the following effect :- "5. A perusal of the copy of AAR's ruling filed by Deloitte Haskins & Sells CAs vide their letter dated 13.12.2005 is perused. In brief, it stated as under : "Unfortunately, the applicant has not produced the service agreements of the deputationists with "XYZ" or "B" which may have given an indication of the nature of the services expected of them. We have only the terms of the management provision agreement to go by." Further the Hon'ble AAR stated that - "In the circumstances, the authority has no option but to conclude that the services of the nominees of "XYZ" as "managerial" and not "technical consultancy" services within the meaning of article 12. The authority, however, leaves it open to the concerned authorities, in appropriate proceedings, to examine the factual position and take appropriate action if they find that the factual situation is otherwise. In the result, the Authority finds on the facts available to it, that the services of the five nominees of "XYZ" are not covered by the expression "included services" in article 12. The consideration received by "XYZ" for these services is, the....
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....ng to required standards and for production of such products according to those standards." 7. It was submitted that the services rendered by above persons deputed to India are in the nature of managerial services and not in the nature of technical or consultancy services. It was further contended by appellant that as per article 12 of the India-US double tax avoidance agreement, the services provided by employees deputed to India are not in the nature of "fees for included services". From the definition of "fees for included services", it will be observed that fees for included services" means payments of any kind of any person in consideration for the rendering of any technical or consultancy services (including through the provision of services of technical or other personnel) if such services make available technical knowledge, experience, skill, know-how, or processes, or consist of the development and transfer of a technical plan or technical design. 8. The appellant further contended that the services provided by Mr. Aditya Vij and Mr. Satya Veerapaneni can be considered as fees for included services only if they 'make available' technological knowledge, ex....
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....ry. His technical experience was utilized by the Indian subsidiary in its day today production activities. Hence, the payment will come under the purview of fees for included services." 2.3 The Ld. DR had further drawn our attention to the Article 7(3) of the DTAA for the purposes of supporting the finding of the lower authorities. It was the contention the Ld.DR that the treaty provisions are plain and simple .It provided that in case the domestic laws provide for allowability of deduction , the same would be allowed to calculate the net profit and in the absence of the contrary provisions , no deduction would be allowed for calculating the net profits. 2.4. It was further submitted by the DR that the order of the AAR has not decided any issue rather the authority has left open the issue to be decided by the competent authority in appropriate proceedings. To buttress his argument, the DR drew our attention to paragraph 29 and 30 of the order of the AAR. It was further submitted that even otherwise the order passed by the authorities are not binding on the tribunal and this tribunal being the final fact-finding body is required to adjudicate the dispute raised before the trib....
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....o the tribunal, only when the authorities bound by the ruling do not follow the ruling for the valid reasons/ invalid reasons. Hence Tribunal is required to examine the reasons given by the authorities for not following the AAR ruling . 7. The AAR had mentioned in paragraph 29 and 30 the caveat to the ruling in the following manner: "29 ............. It is true that four out of five of the deputationists are engineers. But these are days in which even engineers have to qualify in management skills. The authority has no information or material on record to indicate that the employees were rendering services of a nature falling beyond the terms of the agreement. In the circumstances, the authority has no option but to conclude that the services of the nominees of "XYZ" are "managerial" and not "technical or consultancy" services within the meaning of Article 12. The authority, however, leaves it open to the concerned authorities, in appropriate proceedings, to examine the factual position and take appropriate action if they find that the factual situation is otherwise. ( emphasis supplied by us by underlining) 30.In the result, the Authority finds, on th....
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....turing activities .Further VP(manufacturing) was responsible for overall management of GMI facilities to manufacture and assemble products of GMI according to required standards and for production of such products according to those standards. 11. Admittedly the vice president manufacturing was working with the assessee before being sent as expatiate employee in India . It is difficult to comprehend that a person would be given the responsibility of overall management of manufacturing assembly of the products of General Motors without there being any exposure and expertise on the subject. It was obvious that vice president manufacturing was having sufficient knowledge and experience of the technology and its standards used by the assessee in US. The Vice President was not an ordinary engineer but was having sufficient experience, exposure and knowledge about the technology of the assessee and was also having expertise to ensure the implementation of the standards of the assessee in India. In auto mobile industry, assembly of product and standards of company are patented/ protected technology and owner of the standards, charges Royalty for sharing the standards and assembling ....
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....sessee is not applicable to the facts before us as the Hon'ble High Court in paragraph 8 had recorded that the ruling pronounced by the authority is binding. However it can be replaced in accordance with the procedure stipulated in law. As concluded hereinabove, no conclusion was drawn with respect to the services rendered by the vice president and therefore the finding recorded by the AAR cannot be said to be a finding in the eyes of law as there was no categorical decision by the authorities. On the contrary, the authority has left it open to the wisdom of the other authorities to examine the facts and decide whether the services rendered by the vice president were in the nature of technical consultancy services or not. In the light of the above, we are of the opinion that though the ruling given by the AAR is binding, however, once the AAR has not given any categorical finding or conclusion, then the same cannot be said to be a finding which has a binding effect on the revenue or on the tribunal. We had already made it clear that the assessee was called upon by the lower authorities to produce the evidence by way of service agreement with the vice president but for the reaso....
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.... situation where the entire expenditure is disallowed thereby converting the profits into gross receipts. Furthermore as per Section 44D(b) of the Income Tax Act which speaks no deduction in respect of any expenditure or allowance shall be allowed under any of the sub-sections in computing the income by way of royalty or fees for technical services. Now the provisions contained in Section 44D(b) being invoked by the Revenue speaks of no deduction whereas Article 7.5 speaks of allowing of deduction subject to limitation of domestic law. The limitation cannot be read to being no deduction. Therefore, a correct and harmonious interpretation of Article 7.5 with Section 44D(b) would be that this disallowance u/s 44D(b) would not apply wherever Article 7 of the Treaty is being applied. As per Section 90(2) of the Income Tax Act, the provisions of DTAA are to be read over-riding the provisions of Income Tax Act and this issue is not open for debate as the Apex Court has decided this in the case of Union of India v. Azadi Bachao Andolan 263 ITR 706 (SC). The CIT DR in response to this proposition of the assessee submitted that this restriction contained in Section 44D(b) is valid ....
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....Act. The second case cited by CIT DR is of the Supreme Court in Continental Construction Ltd. 195 ITR 81. Therein again it was held by Supreme Court that the professional services were technical services in nature and the assessee was entitled to deduction under Chapter VIA of the Income Tax Act. The CIT-DR relied upon judgement of the Income Tax Appellate Tribunal in Tri-star Consultants 272 ITR [AT] 88 and stated that professional services were covered within the meaning of fees for technical services and therefore professional services were part of technical services. On Article 13.4(c) of the DTAA the CIT DR submitted that once this agreement of operation and maintenance was terminated, the assessee was obliged to train the personnel of Spectrum which the assessee has run and operated. The CIT DR submitted that the main control over the project was that of the owners and the assessee was only conducting routine operation and maintenance services. For everything the operator required approval of the owner even though the assessee was treated as independent contractor. He further stated that just because the contract was to run for ten years, it did not mean tha....
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....fees for included services. The facts of the Rolls-Royce ( supra) are clearly distinguishable and not applicable to the present case. It may be useful to mention here that in paragraph 17 of the said decision, the tribunal has mentioned the facts of the said case. In the said case, the assessee has rendered the technical services to Spectrum Power generation Ltd under the operation and maintenance agreement entered into 14 March 1995 and under erection, testing and commissioning agreement entered into on 12.12.1994. Further the treaty between the assessee in that case was India - UK treaty. In our view there was no transfer of technology by sending the expert technical employees of the assessee to in India, as in the present case, rather there was an agreement for erection of power generation plant in India. But in the present case, the employees who are having the technical expertise are not only managing but also ensuring due adherence to the standards of the assessee, by continuously monitoring and mentoring the production. Hence the decision of Rolls Royce is factually distinguishable. Same is the case with regard to other decisions cited by the AR. 16. The third argument....
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....53. In addition to our holding that the assessee is liable to tax on net basis, under Art. 26 of the Indo-UK Treaty, the assessee which is a non-resident company and is undertaking the Works Contract is being discriminated against and subjected to tax on gross basis @ 30% by artificially invoking section 44D read with section 115A of the Income Tax Act, whereas a domestic company doing exactly the same works contract would be taxed @ 2% under section 194C of the Act and also would be subject to tax on its net profits without the application of section 44D. If the case of the assessee is carefully seen, then the tax that has been levied by the AO by mis-interpreting Art. 7.5 of the Treaty and applying section 44D, without allowing the expenditure allowable under sections 29-44 of IT Act, would amount to more than 100% of its revenue. If we see assessment year 200001 at page 308, the total cost is 81% of the revenue and the assessee is left with 19% of the revenue to incur indirect cost etc., whereas by invoking section 44D, the Revenue has taxed 30% of gross receipts. So, in effect at least 11% in excess of gross receipts has to be paid by the assessee which is a non-resident compan....
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....uld it under the Swedish Treaty be taxed on gross basis or net basis. The Swedish Treaty did not contain any provision available for FTS of making available the technical skills to the client. We, therefore, do not see Ericsson's case to have any bearing on the case at hand. Similarly, in the Tri-star's case, the question was completely different where technical services were being rendered and made available to the client and as rightly pointed by Shri Dinodia the question in all the three judgements of Continental Construction, Oberoi Hotels and Tri-star was deduction under Chapter VIA and not interpretation of a deeming fiction envisaged by Section 9(1)(vii) and the interpretation of over-riding provisions under the Double Tax Avoidance Agreement between India and UK. The numerous judgements cited by the assessee clearly point out to the fact that making available technical knowledge, experience, skill, know-how, a process or development and transfer of technical plant of a technical design is essential to fall within the definition of fees for technical services under the Indo-UK Treaty. Respectfully following these decisions, we hold that in any case as per Article 13....
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.... ..................... 56. In the instant case, the assessee has undertaken a work contract for operation and maintenance of power plant for its owner M/s Spectrum vide contract dated 14.3.1995. For undertaking the work contract, the assessee got a price for producing power by operating and maintaining the power plant. It has not rendered any technical services to M/s Spectrum so as to come within the meaning of FTS. The income so received for executing the work contract did not fall within the definition of FTS u/s 9(1)(vii) Explanation 2 of the IT Act nor as defined in Article 13(4) of DTAA between India and UK. The assessee had also not "make available" any knowledge, skill etc. to M/s Spectrum within the meaning assigned to it under Article 13(4)(c) of the DTAA to FTS under the treaty. Accordingly, assessee cannot be taxed on gross basis and Section 44AD has no application to the facts of the instant case. Furthermore, Article 13(4)(c) read with Article 26 of DTAA does not permit the revenue authorities to discriminate against the assessee, a UK registered company and accord it less favourable treatment than a domestic company and therefore, section 44AD....
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....of interest on moneys lent to the head office of the enterprise or any of its other offices. Section 44D of the Act provides as under :- "44D. Notwithstanding anything to the contrary contained in sections 28 to 44C, in the case of an assessee, being a foreign company,- (a) the deductions admissible under the said sections in computing the income by way of royalty or fees for technical services received from Government or an Indian concern in pursuance of an agreement made by the foreign company with Government or with the Indian concern before the 1st day of April, 1976, shall not exceed in the aggregate twenty per cent of the gross amount of such royalty or fees as reduced by so much of the gross amount of such royalty as consists of lump sum consideration for the transfer outside India of, or the imparting of information outside India in respect of, any data, documentation, drawing or specification relating to any patent, invention, model, design, secret formula or process or trade mark or similar property; (b) no deduction in respect of any expenditure or allowance shall be allowed under any of the said sections in computing the income by way of ro....
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....of the above, we do not find any merit in the contention of the assessee. With respect to the applicability of the judgment referred in the case of Rolls Royce Indl Power (I) Ltd. (supra), we are of the opinion that the above said provision of law and the contradictions had not been brought to the notice of the coordinate bench and in this context the coordinate bench has passed the order. In our understanding, there is no ambiguity either in the treaty provisions or in the domestic law or in Section 90 of the Act. A plain and simple interpretation is required to be given which commands us to give the deduction to the assessee for the purpose of computing the profit if such deduction is permissible under the domestic law. Since no deduction is permissible under the domestic law, therefore, the assessee is not entitled to any deduction. In the result, ground nos. 3 and 4 raised by the assessee are dismissed. 23. Ground nos. 5 to 8 - In this regard, the learned AR drew our attention to the order passed by the TPO for the subsequent years wherein the TPO has not computed the profit by marking-up 10% on the amount received by the assessee. Further, the analysis of the TPO was not pr....