If internal and external comparables available then TPO justified in adopting CUP method for comparability analysis instead of TNMM applied by assessee

IN THE ITAT MUMBAI BENCH ‘L’ RBS Equities (India) Ltd. Versus Additional Assistant Commissioner of Income-tax IT APPEAL NOs.  3077 (MUM.) OF 2009, 1236 (MUM.) OF 2010 [Assessment year – 2003-04 & 2005-06] Date of pronouncement – 14.09.2012 ORDER P.M. Jagtap, Accountant Member – These two appeals filed by the assessee against two separate orders of learned CIT(Appeals)-19, Mumbai and learned CIT(Appeals)-15, Mumbai dated 19-02-2009 and 01-12-2009 for assessment years 2003-04 and 2005-06 respectively, involve some common issues and the same, th...