2017 (6) TMI 1385

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....TURI RAMA RAO, AM : This is an appeal filed by the assessee directed against the order of the CIT()A), LTU, Bengaluru, dated 30/09/2013 for the assessment year 2008-09. 2. The assessee raised the following grounds of appeal: 3. Briefly, facts of the case are as under: The assessee is a company duly incorporated under the provisions of the Companies Act, 1956. It is engaged in the business....

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.... only in respect of technical and management fee paid that the TPO held that there was no basis of allocation of the cost among various group entities and the TPO also agreed with the assessee that the surplus fund received by the assessee, and the services are proved to be beneficial to the assessee-company. However, the TPO questioned the payment of mark up of 10% and 15% of management and techn....

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....emitted back to the TPO to adopt TNMM at entity level. 7. We heard rival submissions and perused the material on record. In the present case, the TP study submitted by the assessee was accepted by the TPO. However, the TPO had chosen to make a separate bench marking in respect of transaction of royalty and management fees. There is no dispute that there was a close nexus between these tran....

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....ts of the appellant is bad and erroneous in law and against the facts and circumstances of the case. 2.0 3.0 4.0 5.0 That the learned Commissioner of Income Tax (Appeals) erred in law and on facts in holding that the associated enterprises should have charged for the services rendered at cost without adding any markup. That the learned Commissioner of Income Tax (Appeals....