TaxTMI 
TaxTMI 
2026 (8) TMI 1193
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....kar appearing for the respondent. 2. Since common issues are arising in these appeals, the same were heard analogously and are being disposed of by this common order. For the sake of convenience, Tax Appeal No. 295 of 2020 is treated as the lead matter. 3. This Tax Appeal is preferred under Section 260A of the Income Tax Act, 1961, (for short "the Act"), proposing the following substantial questions of law arising out of the order dated 18.12.2019 passed by the Income Tax Appellate Tribunal, Ahmedabad 'D' Bench, (for short "the Tribunal") in ITA No. 1215/AHD/2017 for the Assessment Year 2009-10: "(a) Whether in the facts and circumstances of the case, the ITAT has erred in law and on facts in not upholding the entire upward a....
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....ed from AF.? (d) Whether in the facts and circumstances of the action of case, the ITAT has erred in law and on facts in not upholding the action of TPO/AO of allowing adjustments of saving in selling and marketing cost in respect of MBTC and TTC product claimed by the assessee which is contrary to the provisions of Rule 10B of Income Tax Rules? (e) Whether in the facts and circumstances of the case, the ITAT has erred in law and on facts in not upholding the action of TPO/AO of not allowing economic adjustments for advance payment in respect of international transactions with AE GulbrandsenEc Ltd claimed by the assessee which is contrary to the provisions of Rule 10B of Income Tax Rules? (f) Whether in the facts ....
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....s issued on 19.08.2010. Along with the return, the assessee had filed Form No.3 CEB on 30.09.2009. Perusal of the return revealed that there were international transaction issues and reference to the Transfer Pricing Officer (for short "TPO") was required under Section 92CA(1) of the Act. 4.3 Accordingly, the Assessing Officer had made a reference to the TPO. The TPO rejected all the contentions of the assessee and recommended upward adjustment of Rs.7,99,59,176/-. 4.4 Being aggrieved by the order passed by the TPO, an appeal came to be preferred by the assessee before the Commissioner of Income Tax (Appeal). The Appellate Authority followed the order of earlier Assessment Year 2008-09 passed by the Appellate Authority on similar issu....
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....f on confirmed by CIT (A) Transfer Pricing adjustments in respect of international transactions of sale of chemical products by the assessee to its Associated Enterprises (Aes)? (b) Whether in the facts and circumstances of the case, the learned ITAT has erred in law and on facts in the approach of rejecting the Transactional Net Margin Method (TNMM) and adopting Comparable Uncontrolled Price (CUP) Method as Host Appropriate Method (NAM)? (c) Whether in the circumstances of the case, ITAT has erred in law and allowing following adjustments claimed by the assessee for in facts and the learned on facts in appropriate contractual commercial assessee's vis-à-vis circumstances, functions, risk and other material diff....