2025 (3) TMI 236 - SCH - Income Tax

Maintainability of appeal before Supreme court on low tax effect - TP Adjustment - MAM for Royalty payment - TNMM or CUP - as decided by HC 2023 (8) TMI 458 - BOMBAY HIGH COURT wherein as concur with Appellant that having accepted the TNMM method as the most appropriate it was not open to the TPO to subject only one element i.e payment of royalty to an entirely different CUP method. HELD THAT - It is stated that the tax effect is less than 5 crores; hence the Revenue would not press the present special leave petition. In view of the statement made the special leave petition is dismissed as not pressed leaving the question(s) of law open. In view of the aforesaid order we are not examining the application for condonation of the delay.

Summary

The Supreme Court, with Hon'ble Chief Justice Sanjiv Khanna and Hon'ble Mr. Justice Sanjay Kumar presiding, dismissed a special leave petition as the tax effect was less than 5 crores, and the Revenue decided not to press the petition. The Court left the question(s) of law open and did not address the application for condonation of delay. Pending applications were disposed of accordingly.