TaxTMI 
TaxTMI 
2025 (1) TMI 1851
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.... 1. In the facts and circumstances of the case and in law, the Impugned Assessment Order is bad in law and in violation of principles of natural justice as the Ld. TPO passed the original Order u/s 92CA(3) without carefully considering the Assessee's TP report in its entirety as he is legally mandated to do so. 2. In the facts and circumstances of the case and in law, the Impugned Assessment Order is not maintainable as the Ld. TPO erred in issuing the original Order by offering patently wrong justification based on erroneous assumptions not related to the case of the Assessee as to why the information or data used by the Assessee in determining the arm's length price was "not reliable or correct" in terms of Secti....
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.... is a manufacturer and being contrary to settled judicial precedents and Rule 10B(2). 8. In the facts and circumstances of the case and in law, the Impugned Assessment Order is bad in law due to economically relevant characteristics of the comparables selected by the Ld. TPO qua disproportionately high turnover and stage of maturity which is contrary to settled judicial precedents. 9. In the facts and circumstances of the case and in law, the Impugned Assessment Order is bad in law as Most Appropriate Method has been selected in an arbitrary manner without conducting adequate FAR analysis in contravention of settled judicial precedents and Rule 10B(2). 10. In the facts and circumstances of the case and in law, the....
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....ile die-cut tape parts like sponge tape, heat resistance tape, double side tape, battery tape etc. which are used in mobile phones. 6. The assessee had e-filed its return of income for A.Y. 2020-21 on 15.01.2021 declaring a loss of Rs. 4,36,83,685/-. The case was selected for complete scrutiny under CASS. A reference was made to the ld. Transfer Pricing Officer [TPO], New Delhi for determining the Arm's Length Price u/s 92CA of the Act in respect of international transactions entered into by the assessee company during the F.Y. 2019-20. Various Notices u/s 92CA were sent to the assessee to which the assessee replied and furnished audited financial statement, Form 3CA-CD, Form 3CEB, Loan Agreement, Audit Report and various other detai....
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....er pricing adjustment suggested by the TPO. 10. Aggrieved, the assessee is in appeal before us 11. Before us, the ld. counsel for the assessee vehemently stated that this is the first year of commercial production and that the assessee is a trader and not a manufacturer. The ld AR argued that the TPO has made arbitrary use of TNMM as the Most Appropriate method [MAM], OP/OR as profit level indicator instead of RPM with GP/sales for PLI used by the assessee. It is vehemently argued that the Ld. TPO selected faulty comparable on grounds of dissimilar business activities of the selected comparable with economically non-relevant characteristics and functional and financial dissimilarities. The assessee has declared loss in the current yea....