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TMI Blog2021 (2) TMI 1321X X X X Extracts X X X X X X X X Extracts X X X X ..... Thus, following the consistent view of the Tribunal in assessee s own case, as referred to above, we hold that the international transaction with the AE has to be benchmarked by applying internal TNMM as adopted by the assessee. Accordingly, we restore the issue back to the AO for examining assessee s benchmarking under internal TNMM and in case the assessee is able to justify its own benchmarking, then it has to be accepted. Of course, the AO while deciding the issue must provide due opportunity of hearing to the assessee. - I.T.A. No.5347/Mum/2017 - - - Dated:- 24-2-2021 - SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI RAJESH KUMAR (ACCOUNTANT MEMBER) For thr Appellant : Dr. P. Daniel (AR) For the Respondent : Shri Chandra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing further, he submitted, the applicability of internal TNMM, as adopted by the assessee, has been accepted by the Tribunal in assessee s own case while deciding appeals for assessment years 2011-12 and 2012-13. In this context, he drew our attention to the relevant observations of the Tribunal in the orders passed. 4. The learned Departmental Representative, though, agreed that the issue of most appropriate method applicable to determine the arm s length price (ALP) has been decided in favour of the assessee in the preceding assessment years; however, he relied upon the observations of the Transfer Pricing Officer and learned DRP. 5. We have considered rival submissions and perused materials on record. As stated by the TPO, the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the AE. Following the aforesaid decision, the Tribunal while deciding assessee s appeal for Assessment Year 2012-13 in IT(TP)ANo.51/Mum/2017 dated 26-11-2019 has reiterated that internal TNMM is the most appropriate method to benchmark the transaction with AE. Thus, following the consistent view of the Tribunal in assessee s own case, as referred to above, we hold that the international transaction with the AE has to be benchmarked by applying internal TNMM as adopted by the assessee. Accordingly, we restore the issue back to the Assessing Officer for examining assessee s benchmarking under internal TNMM and in case the assessee is able to justify its own benchmarking, then it has to be accepted. Of course, the Assessing Officer while dec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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