2023 (11) TMI 280

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ar 2016-17 & 2017-18, stating that while dealing with the issue relating to the segregation of certain international transactions from the manufacturing process and applying Comparable Uncontrolled Price (CUP) and other methods as against the Transactional Net Margin Method (TNMM), the Bench referred to the order dated 17/04/2015 in ITA Nos. 471/Hyd/2014 (order dated 17/04/2015) in the first round of litigation, whereby the matter was remanded to the file of the learned Transfer Pricing Officer (learned TPO), to re-consider the entire matter afresh by determining the Most Appropriate Method (MAM) and then to analyse the transaction under the provisions of the transfer pricing; whereas in the second round of litigation, the Bench took a spec....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er side, we are satisfied that a mistake has crept in in not noticing the order dated 24/09/2021 and not noticing the view taken by a Co-ordinate Bench of the Tribunal in assessee's own case for an earlier assessment year, constitutes mistake apparent on the face of record. We, therefore, modify the order of the Tribunal and direct that paragraph Nos. 16 onwards thereof shall be substituted by the following paragraphs: 16. In the order dated 24/09/2021, it was observed and held that,- 5. The Revenue vehemently contended that the learned lower authorities have rightly adopted a direct method i.e., CUP which carries precedence over all other indirect methods; including TNMM, as per Serdia Pharmaceutical India Pvt. Ltd Vs. AC....