Case Law Details
Lenovo (India) Pvt. Ltd. Vs DCIT (ITAT Banagalore)
Ld. TPO thus applied the TNMM as the MAM and determined ALP which resulted in adjustment of Rs. 10,19,77,372/- to the Manufacturing Segment.
The assessee filed objection before the DRP agains the proposed adjustment. However the DRP upheld the order of Ld. TPO by observing that in CUP method, strict comparability is required and such comparability is not possible in the case of the assessee. The DRP also upheld application of TNMM as MAM and methodology adopted to determine ALP under the TNMM by the TPO.
On receipt of the DRP order the Ld.AO passed the final assessment order making the adition in the hands of the assessee. Against the final assessment order, the assessee raised the issue before this Tribunal.
We refer to the order passed by this Tribunal for A.Y. 2015-16 which is the recent most order wherein this Tribunal decided this issue on identical facts in assessee’s own case by observing as under.
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