2023 (1) TMI 950

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....a Rao, Judicial Member And Shri G. Manjunatha, Accountant Member For the Appellant : Shri. K. Senguttuvan, Advocate For the Respondent : Shri. S. Palanikumar, CIT ORDER PER G. MANJUNATHA, ACCOUNTANT MEMBER: This appeal filed by assessee is directed against final assessment order passed by the AO u/s. 143(3) r.w.s. 144C(13) of the Income-tax Act, 1961 (hereinafter referred to as the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ons. In pursuant to directions of the TPO, the AO passed draft assessment order u/s. 144C(1) of the Act and proposed the TP adjustment as suggested by the TPO. The assessee has filed objections against draft assessment order before the DRP, and the DRP, Bangalore vide their order dated 28.12.2015 upheld TP adjustments proposed by the Assessing Officer. In pursuant to DRP directions, the AO has pas....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ly it has been noted that internal CUP is the best method to determine ALP of international transactions and thus, the assessee has adopted internal CUP method for assessment year 2012-13 and the TPO has accepted the method followed by the assessee. Therefore, to give one more opportunity to the assessee, the matter may be remitted back to the file of the AO. 4. The Ld. DR, on the other hand, s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ee now claims that TNMM is not most appropriate method for international transactions of the assessee with its AE and further, internal CUP method is suitable method to determine ALP of international transactions. We find that the assessee is in initial year of operations and has adopted TNMM as most appropriate method. However, in subsequent assessment years and from assessment year 2012-13 onwar....