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TMI Blog2012 (11) TMI 1208X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act have been questioned. 2. At the outset of hearing the ld. AR submitted that the assessee does not wish to pursue ground nos. 9 and 10. The same are accordingly rejected. Regarding the ground nos. 1, 1.1 to 6 relating to transfer pricing adjustment, the ld. AR pointed out that before the ld. Dispute Resolution Panel (DRP) vide its application dated 27.1.2011 the assessee had submitted that its international transactions ought to be analysed on a transaction by transaction basis to then determine adherence to arm s length principle. Pursuant to this submission the assessee had highlighted the pricing policy of its international transactions corresponding to its manufacturing operations namely import of components at the rate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T 307 (SB). 3. Regarding the issue of corporate tax raised in ground nos. 7 and 8, the ld. AR submitted that the ld. DRP has erred in confirming the disallowance of royalty expenses (Ground No.7) and again has erred in not allowing the deduction u/s 10A to the assessee (Ground No. 8). He submitted that the ld. DRP has confirmed the disallowance of royalty expenses of ₹ 6,80,28,472/- treating it as contingent liability / cessation of liability u/s 41(1) whereas it was ascertained liability and was actually paid subsequently. He submitted further that the ld. DRP has failed to appreciate the submission specially that the liability was actually paid subsequently. He submitted further that in view of decision of the Tribunal in the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ders Pvt. Ltd. , ITA No. 3908 of 2010 . 4. The ld. DR opposed request of the assessee for consideration of the additional evidence he however, submitted that in case it is allowed the matter should be set aside to the file of the TPO / AO with this specific direction that while entertaining these additional evidence on the issue of transfer pricing adjustment, he should first ascertain that the instances cited are indeed comparable with the case of assessee to determine adherence to arm s length principle. 5. Considering the above submissions we find that in the case Kyungshin Industrial Motherson Ltd. (Supra) the primary contentions of the assessee involved was regarding analysis of suppliers profitability for imports and limit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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