2025 (7) TMI 1032

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....assessee's group concerns. As per the Transfer Pricing (TP) documents furnished for the AY 2020-21, the assessee was seen to have entered into certain international transactions with AEs. The Transfer Pricing Officer made an upward adjustment of Rs. 6,12,63,123/-. In the body of the Ld. AO's order, it is seen that an addition of Rs. 8,04,08,359/- has also been made u/s 69 of the Act. 1.1 Aggrieved with these actions, the present appeal has been filed with the following grounds: "1. For that on the facts and circumstances of the case and in law, the final assessment order passed u/s 143(3) r.w.s 144C(13) of the Act on 26.07.2024 was barred by limitation in as much the time limit for passing of the final assessment order as provided u/s 15....

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....e and in law, the TPO as well the Ld. DRP erred in law and on facts in not accepting the economic and functional analysis conducted by the appellant and the comparables identified by the appellant; and instead including companies which were functionally different, alleging the same to be 'comparable' to the appellant. 3.4. For that on the facts and in the circumstances of the case and in law, the Ld. DRP was unjustified in upholding the erroneous operating margins of the comparables computed by the TPO and also failed to make suitable adjustments to account for differences in the risk profile of the appellant vis-à-vis the comparables. 3.5. For that on the facts and in the circumstances of the case and in law, the Ld. DRP....

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....144C of the Act. 3.10. For that on the facts and in the circumstances of the case and in law, the new comparables identified and introduced by the TPO pursuant to the above direction of the Ld. DRP ought to be excluded/deleted. 4. For that on the facts and in the circumstances of the case and in law, the interest of Rs. 29,97,987/-levied u/s 234A of the Act was unjustified and deserves to be deleted. 5. For that the appellant craves leave to submit additional grounds and/or amend or alter the grounds already taken either at the time of hearing of the appeal or before." 2. Before us, the Ld. AR filed a paper book to assist the Bench in appreciating the facts surrounding the case under consideration. Regarding the ground pertaining to ....

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.... CBDT dated 30.12.2020). 2.1 The Ld. DR relied on the orders of authorities below. 3. We have carefully considered the arguments of Ld. AR/DR and have also gone through the impugned order. We have also carefully perused the agreement dated 24.03.2025 entered into by the assessee and CBDT. 3.1 Regarding the issue of addition u/s 69 of the Act amounting to Rs. 8,04,08,359/-. It is seen that there is no discussion whatsoever regarding this amount in the Ld. AO's order and hence we are inclined to be persuaded by the Ld. DR's argument that this addition has been made due to an oversight. We accordingly direct that this addition should be deleted altogether. 3.2 Regarding the issue of transfer pricing adjustment, we find that the aspect of e....