Manufacturing Segment Transaction Benchmarking: ITAT Upholds TNMM Method Over CUP

LANXESS India Private Limited Vs DCIT (ITAT Mumbai) LANXESS India Private Limited (the assessee) appealed against the assessment order dated 31/10/2018 passed under section 143(3) read with section 144C(13) of the Income Tax Act, 1961, for the Assessment Year 2014-15. The crux of the appeal revolved around the method used for benchmarking transactions, specifically regarding the export of finished goods (Manufacturing segment). The key points of contention in the appeal were: Assessment Methodology: The assessee contested the adjustment made by the Deputy Commissioner of Income Tax (DCIT) and...