2023 (4) TMI 578

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....ment Year (AY) 2012-13. 2. The Tribunal passed the impugned order pursuant to a remand direction issued by this court in an appeal preferred by the respondent/assessee, which was numbered as ITA 1148/2017. This court via judgment dated 15.12.2017, as noted above, remanded the matter to the Tribunal. 3. To be noted, the Tribunal, in the first instance, had remanded the matter to the Transfer Pricing Officer (TPO), as to whether the "other method" would be the most appropriate method, as was contended by the respondent/assessee. 3.1 It is in this backdrop that the aforementioned impugned order came to be passed by the Tribunal. 4. It is important to bear in mind that the provision for Advance Pricing Agreement (APA) came to be inserted in....

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....marking was brought onto the statute only in AY 2012-13. 9.2 Mr Sinha also clarifies (which is something that was not disputed) that for several years prior to the AY 2012-13, the respondent/assessee had been using TNMM for benchmarking its transactions. 9.3 Mr Sinha goes on to state that, all that the Tribunal has directed in the instant case, is to apply the principles which stand encapsulated in an agreement executed between the respondent/assessee and the CBDT. 9.4. It is Mr Sinha's submission that the respondent/assessee is, in a sense, a receptacle for data base which is used by entities located all over the world and therefore, the common cost and revenue need to be allocated to these entities, which are its subsidiaries and affil....