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TMI Blog2014 (4) TMI 114X X X X Extracts X X X X X X X X Extracts X X X X ..... . vs. DRP & Others [2011 (12) TMI 22 - Delhi High Court], matter remanded back – Decided in favor of Assessee. - ITA Nos. 4627/Del/2011 & 6107/Del/2012 - - - Dated:- 23-10-2013 - SHAMIM YAHYA AND C.M. GARG, JJ. For the Appellant : Vishal Kalra and Ms. Vrinda Tulshan. For the Respondent : Peeyush Jain and Yogesh Kumar Verma. ORDER:- PER BENCH : These appeals filed by assessee are directed against the Orders of the Ld. Assessing Officer passed u/S. 143(3)/144C of the I.T. Act for the asstt. year 2007-08 2008-09 respectively. 2. At the threshold, we note that one common ground raised in these appeals by the assessee is that "Ld. DRP erred in law and on facts by summarily rejecting the appellant's objections and disre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 44C(5), 144C(6) 144C(7) of the I.T. Act." Since the facts are identical, we are adjudicating this issue raised in the Appeals with reference to the facts of Asstt. Year 2008-09. 5.1 In the year ended March 31, 2008, the assessee earned a GPM of 13.38% (after considering the direct expenses). Considering functional and risk profile and the comparable date of five companies RPM using gross profit margin (GPM) as PLI was selected as the most appropriate method by the assessee. The weighted GPM of comparables computed by assessee and submitted to TPO ranged from 3.49% to 29.34% with an arithmetic mean of 14.14% as against 13.38% of the assessee for the year ending 31.3.2008. Thus, it was concluded by the assessee that its international tran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mbursement without any mark-up, in consideration of section 92(3) of the Act and Circular 14/2001 issued by the Central Board of Direct Taxes (CBDT), same were considered to be in compliance with the arm's length principle. 5.4 TPO did not accept the methodology adopted by the Assessee for benchmarking of its international transactions and subsequently, made an upward adjustment of INR 31,671,377/- to the total income of the assessee. S. No. Description of transaction Method Value (in Rs.) 1. Import of electricity meters RPM 305,845,912 2. Availing of management services TNMM 6106853 3. Interest of external commercial Borrowings CUP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e decision of the Hon'ble Jurisdictional High Court, Ld. Counsel of the assessee submitted that the matter in these cases should be remitted back to the file of the Ld. DRP to consider the details, submissions and objections of the assessee and pass a speaking order. Ld. Counsel in this regard further submitted that the DRP should be directed to consider the various case laws on the impugned subject which have come recently. 9. Ld. Departmental Representative could not rebut this contention of the Ld. Counsel of the assessee. However, he submitted that if the matter is remitted to the file of the Ld. DRP it should be an unfetterred direction to the Ld. DRP to consider the issue afresh. 10. We have carefully considered the submissions an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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