2023 (7) TMI 139

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....Sanjiv M. Shah. P.C. 1. The following two questions of law have been proposed: (a) Whether the ITAT was correct in holding that the TP adjustment should be proportionately to the value of international transaction same is contrary to the prescription of Rule 10B(1)(c). Further, the Indian Transfer Pricing Regulations does not allow it as it presupposes that if the net margins of AE ....

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....has placed on record 7 judgments of this Court and 1 judgment of the Supreme Court which are as under : i) Commissioner of Income Tax Vs. Alstom Projects India Ltd. (2017) 394 ITR 141 (BOM) ii) Commissioner of Income Tax Vs. Tara Jewels Exports P. Ltd. (2016) 381 ITR 404 (BOM) iii) Commissioner of Income Tax Vs. Thyssen Krupp Industries India P. Ltd. (2016) 381 ITR 413 (....

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....should be proportionate to the value of international transaction. 6. As regards the proposed question of law no. 2, appeal in case of Firestone International P. Ltd (supra) was part of the appeals that was considered by the Apex Court in Essar Teleholdings Ltd. (supra) but what we find from the judgment of the Apex Court Essar Teleholdings Ltd. (supra) is that Revenue in its appeal in Fireston....