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TMI Blog2017 (12) TMI 1785X X X X Extracts X X X X X X X X Extracts X X X X ..... ances that the other method was introduced for the first time, and also given the fact that there does not appear to be much judicial thinking on the application of the other method as most appropriate method and all the considerations should weigh to the tax administrators in this regard vis-a-vis revenue and cost allocation, this Court is of the opinion that the ITAT should have proceed with the matter afresh instead of having remanded the matter totally to the TPO, as it did in the circumstances. In these circumstances, the impugned order is modified. The ITAT is directed to go into the matter afresh and return the findings both on the question of law and the facts afresh. - ITA 1148/2017, CM APPL.45516/2017 - - - Dated:- 15-12-2017 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsfer pricing report relied upon during the course of the assessments. The AO rejected the use of the other methods in totality and proceeded to apply the TNMM method. The Disputes Resolution Panel ( DRP ) sought the remand in the first instance and thereafter even proceeded to reject the AO s remand report as perverse. However, it confirmed the adjustments made. The ITAT felt that the issue required re-examination but also at the same time proceeded to observe as follows: - Admittedly, the assessee has not denied the fact that in the earlier years all the above transaction were bundled together by assessee itself in its TP study report. The Dispute Resolution Panel has noted that the assessee has itself determined the ALP in earlier pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iderations should weigh to the tax administrators in this regard vis-a-vis revenue and cost allocation, this Court is of the opinion that the ITAT should have proceed with the matter afresh instead of having remanded the matter totally to the TPO, as it did in the circumstances. In these circumstances, the impugned order is modified. The ITAT is directed to go into the matter afresh and return the findings both on the question of law and the facts afresh. All rights and contentions of the parties on the jurisdiction of the ITAT are reserved. It is clarified that nothing stated in this order shall preclude the exercise of jurisdiction of the ITAT in any manner, to seek such remand reports as are necessary. All rights and contenti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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