Transfer pricing study of assessee and ALP of international transactions determined on the basis of such study simply cannot be rejected without any cogent reasons

JUDGEMENT

PER R.K.PANDA, AM,

This appeal filed by the Revenue is directed against the order dated 12th August, 2008 of the CIT(A)-XIX, Mumbai relating to assessment year 2004-05.

2. Facts of the case, in brief, are that the assessee company M/s. Indo American Jewellery Pvt. Ltd., previously known as Suashish Jewellery Ltd., is a closely held Indian company incorporated on 16t

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