2016 (9) TMI 1649

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....hri Sriram Seshadri, CA For the Respondent : Dr. Milind Madhukar Bhusari, CIT ORDER PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER These appeals of the assessee for assessment years 2009-10, 2010-11 and 2011-12 are directed against assessment orders dated 30.1.2014, 30.1.2015 and 27.1.2016 all passed pursuant to directions of the Dispute Resolution Panel under section 144C(13) of the Income-tax ....

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....ional evidence mentioned above, ld. AR submitted that it had a fundamental bearing on the transfer pricing issues raised in the impugned years. As per the ld. AR, the TPO had in all these years proceeded on a footing that assessee was a contract manufacturer of its Associated Enterprise(AE) named 'Lotus Footwear Ltd' based in British Virgin Islands. However, as per the ld. AR, assessee had become ....

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....-12 and CBDT had exempted it from being considered so for financial year 2010-11 relevant to assessment year 2011-12. In other words, according to him, for year 2010-11 and the year prior to that the Government had agreed to the contention of the assessee that it was not a contract manufacturer and this went against the conclusion of the TPO for such earlier years. Hence, according to him, the APA....

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....assessment year 2009-10, this is specifically mentioned at page 69 of the order. Nature of business of the assessee would have considerable bearing on the Arm's Length Pricing study of the international transactions with its AEs. The APA having been signed on 24.5.2016, assessee had no occasion to produce it before lower authorities. We are, therefore, of the opinion that the additional evidence h....