2018 (10) TMI 1677

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..... o functional identity with Li and Fung India Pvt. Ltd. is not appropriate because the assessee renders support services to its members whereas Li Fung is providing services on principal to principal basis to its AEs as well as third party. The second distinction is highlighted with respect to the revenue model while in Li and Fung the cost plus was on a certain percentage mark up, the rule here is .....

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..... ellip;………….The findings of the ITAT with respect to the functional similarity, indeed identity, between the assessee in the case of Li and Fung India Pvt. Ltd. (supra) and the assessee in the present case, is clear. The assessee, like in the case of Li and Fung India Pvt. Ltd. (supra), did not assume any risk and was dependent entirely for reimbursement of its expenses .....

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..... cipal basis to its AEs as well as third party. The second distinction is highlighted with respect to the revenue model - while in Li and Fung the cost plus was on a certain percentage mark up, the rule here is entirely different. This court has considered the submissions of the parties as well as the order of the ITAT, which in paras 11 and 12 of the impugned order has distinguished its order in .....

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