TaxTMI 
TaxTMI 
2022 (8) TMI 1477
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....umbai (hereinafter referred to as 'the DRP') under Section 144C(5) of the Act. 2. Appellant has raised following grounds of appeal: "1. That the learned Assessing Officer (referred to as the 'learned AO) erred on facts and in law in completing assessment under section 143(3) read with section 144C of the Income-tax Act, 1961 (the Act) at an income of INR 1,853,256,190/- as against returned income of INR 1,816,791,080/-. 2. Transfer pricing adjustment to the International transaction of Marketing Support services That the learned AO erred on facts and in law in making addition based on the directions of Hon'ble Dispute Resolution Panel (referred to as the 'DRP') to the income of the Appel....
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....ces transactions of the Appellant. It is prayed that the learned AO/TPO be directed to apply the export filter by the learned TPO on the comparable companies selected by the learned TPO for the marketing support services transactions. 2.2 The learned AO/TPO have erred on facts and in law by not making appropriate adjustments to the Profit Level Indicator (PLI) of comparable companies as required by Rule 10B(1)(e)(i) of the Rules, which has rendered the benchmarking exercise carried out by the learned TPO inconsistent with the requirement of law and hence, is liable to be rejected. The learned AO/TPO have also erred in not providing any working capital adjustments which was allowed by the Hon'ble DRP. It is pra....
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....o by Appellant with his Associated Enterprises (AEs). For the relevant assessment year, the Appellant, a wholly and subsidiary of Jupiner Network International LLC USA, was engaged in providing Software Development Services, Information Technology Enable Services and Marketing Support Services to Jupiner Group companies. In the present appeal the Appellant has challenged the Transfer Pricing Adjustment made by the Assessing Officer in relation to international transactions pertaining to Marketing Support Segment. For benchmarking international transactions with AEs pertaining to Marketing Support Segment, the Appellant had adopted Transactions Net Margin Method (TNMM) as the most appropriate method with weighted average Net Cost plus Mark U....
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....pellant has filed the present Appeal challenging, inter alia, inclusion of AISL in the list of comparables by TPO. 4. The Ld. Authorised Representative for the Appellant appearing before us, placing reliance of Ground 2(b), advanced arguments for exclusion of AISL from the final set of comparables selected by TPO on the premise that the exclusion of AISL would render all the other grounds raised in the appeal academic as the margins computed by the TPO after excluding AISL from the final set of comparables would fall within the tolerance band requiring no transfer pricing adjustment. He submitted that AISL was not functionally comparable with the Appellant and in this regard relied upon the findings on the Hon'ble Delhi High Court an....