A controlled transaction cannot be benchmarked against another controlled transaction (TP)

Brief Facts of the case- The assessee company was engaged in the business of providing investment advisory and marketing support services. During the year under consideration, the assessee company provided advisory services to its Associated Enterprises (“AEs”) named Deutsche Asset Management (Asia) Limited (in short “DAMAL”), Singapore. In consideration for providing such advisory services, DAMAL has given 50% shares of the fees received by it to the assessee. The TPO rejected the bench marking method applied by the assessee viz. TNMM with net cost plus margin. The TPO noticed that t...