9911796707
TMI Blog2017 (6) TMI 1385X X X X Extracts X X X X X X X X Extracts X X X X ..... fore, there was no need of separate bench marking in respect of transactions of royalty and technical fee as the same formed part of operating expenditure - HELD THAT:- In the present case, the TP study submitted by the assessee was accepted by the TPO. However, the TPO had chosen to make a separate bench marking in respect of transaction of royalty and management fees. There is no dispute that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... LTU, Bengaluru, dated 30/09/2013 for the assessment year 2008-09. 2. The assessee raised the following grounds of appeal: 3. Briefly, facts of the case are as under: The assessee is a company duly incorporated under the provisions of the Companies Act, 1956. It is engaged in the business of manufacture of specialty construction chemicals. It is a subsidiary of M/s.Fosroc International Ltd., UK. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the cost among various group entities and the TPO also agreed with the assessee that the surplus fund received by the assessee, and the services are proved to be beneficial to the assessee-company. However, the TPO questioned the payment of mark up of 10% and 15% of management and technical fee respectively. The TPO was of the opinion that there was no basis for paying mark up of 10% and 15% res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. In the present case, the TP study submitted by the assessee was accepted by the TPO. However, the TPO had chosen to make a separate bench marking in respect of transaction of royalty and management fees. There is no dispute that there was a close nexus between these transactions and other transactions. Therefore, it requires aggregation of these transactions with other transactions, and the mos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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