2024 (3) TMI 1387

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h Nangia and Mr. Ashvini Kumar, Jr.SCs along with Mr. Nikhil Jain, Adv For the Respondent: Mr. Rohit Tiwari, Ms. Tanya, Mr. Shobhit Tiwari, Ms. Shivani and Mr. Jaind Kumar Jaiswal, Advs ORDER CM APPL. 28277/2023 (93 Days' Delay) 1. This is an application filed by the appellant seeking condonation of 93 days' delay in filing the present appeal. 2. For the reasons stated in the applic....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ar FAR as that of the assessee?" 6. We note that while dealing with the issue of comparables as accepted and included by the Transfer Pricing Officer ["TPO"] as well as the Dispute Resolution Panel ["DRP"], the Income Tax Appellate Tribunal ["ITAT"] has found as follows: "16. We have heard the rival submissions of the Ld. Representative of the parties and perused the material available....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....selected by the assessee are from a different geographical region (i.e. USA), we observe that the three comparables considered by the Ld. TPO in the remand report are from the same geographical location (i.e. USA) and hence in our view the objection relating to difference in geographical region does not hold good. 16.3 So far as the objection of the Hon'ble DRP on the product dissimilarit....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... i.e. Mikasa Inc. and Oneida Ltd. by holding that these two comparables are providing know-how whereas the assessee is not obtaining know-how which in our considered view is incorrect as evident from the license agreement as well as other documentary evidence submitted by the assessee. The assessee has paid royalty for use of trademark and marketing information /marketing know-how. All the eight c....