2024 (12) TMI 646 - HC - Income Tax

TP Adjustment - MAM selection - ITAT assailing that the Tribunal has erred in upholding the CUP method followed by the assessee, and submits that the TNMM was the most appropriate method adopted by the AO for the assessment year 2018-19 - HELD THAT - We find that the Tribunal, in the case of the assessee for the assessment years 2011-12, 2013-14 and 2014-15, held the CUP method to be the most appropriate method, and binding on the TPO, more so as the factual matrix reveals the same. In relation to the same assessee, we have decided in 2024 (8) TMI 1497 - PUNJAB AND HARYANA HIGH COURT wherein we had duly examined the other aspects, relating to Rule 10 B (4) of the Income Tax Rules, 1962. However, so far as the most appropriate method adopted for the year 2009-10 in the relevant case, was the same as adopted for the year 2011-12, 2013-14 and 2014-15 and we concurred with the order passed by the ITAT. Keeping in view that the consistent method has to be followed by the assessee which it has continued, there was no occasion for the TPO to adopt a new method for the year 2018-19, treating the same as the most appropriate method. We concur the order passed by the ITAT. No question of law as substantial, arises in the present appeal.

Summary

The High Court dismissed the appeal by the Revenue against the ITAT order upholding the CUP method used by the assessee for assessment year 2018-19. The Court found that the CUP method was consistent with previous years and therefore appropriate. The appeal was dismissed, and any pending applications were disposed of.