9911796707
TMI Blog2019 (7) TMI 1618X X X X Extracts X X X X X X X X Extracts X X X X ..... . DR ORDER K. Narasimha Chary, J.M. Aggrieved by the order of the Dy. Commissioner of Income-tax, Circle -3 Gurugram for Assessment Year 2014-15, assessee preferred this appeal. 2. M/s Nissin Brake India Private Ltd., was incorporated on 13.9.2006 with the objective of manufacturing, altering, conversion, procurement, sale and trading of various types of automotive brakes and aluminium com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the TPO u/s 92CA(1) of the Income-tax Act, 1961 ("the Act"). Learned TPO passed the order dated 29.9.2017 and subsequently, draft assessment order was passed. Assessee filed objections before the DRP and vide order dated 29.9.2017 excluded one comparable from final list of the comparables by which the margin of the assessee arrived at arm's length price. The grievance of the assessee is that l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ties to Nissin Kogyo. 6. He further submitted that the issue relating to the Royalty and Product Development fee is no longer res integra inasmuch as in assessee'w own case for the Asstt. Year 2013-14, under identical facts and circumstances, a coordinate bench of this Tribunal vide order dated 16.11.2018 considered the same and held the issue in favour of the assessee. It is submitted on behalf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is not open for the TPO to apply the CUP method abruptly without assigning any reason and such an act of the TPO amounts to deciding the issue by sitting in the armchair of the businessman/assessee. The Tribunal further held that the application of benefit test is impermissible and as a matter of fact the payment of royalty and product development fee are intrinsically interlined with the prod ..... X X X X Extracts X X X X X X X X Extracts X X X X
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