Case Law Details
Case Name : Cummins India Limited Vs. Dy.CIT (ITAT Pune)
Appeal Number : ITA No. 277 & 1412/PN/07
Date of Judgement/Order : 28/02/2011
Related Assessment Year : 2003-04 & 2004-05
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Summary of the case:- Assessee has an option when there is arithmetical mean involved while computing the ‘arm’s length price’ and it happens only if more than one price is determined by the most appropriate method. The First Proviso becomes operational where more than one comparable price is determined. The assessee at his option can make claim of deduction out of the arithmetic mean not exceeding 5%.
In The Income Tax Appellate Tribunal, Pune Bench ‘A’, Pune
- Cummins India Limited Vs. Dy.CIT (ITA No. 277 & 1412/ PN/07) (Asst. Year 2003-04 & 2004-05)
- Dy.CIT Vs. Cummins India Limited (ITA No. 148 /PN/07) (Asstt. Year 2003-04)
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