Selection of Most Appropriate Method – whether mandatory under transfer pricing regime?

M/s. CLSA India Private Limited Vs DCIT (ITAT Mumbai) Facts of the case: The assessee company, i.e. CLSA India Private Limited is a subsidiary of Credit Lyonnais Securities Asia (CLSA) incorporated in Netherlands. The assessee is primarily engaged in the business of equity broking. The assessee’s customers comprise of foreign institutional investors (FIIs) and domestic institutional investors (DIIs). As submitted by the assessee, it had no international sales presence or capability to maintain client relationship with FIIs on global basis or internal resources to undertake various activities...