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TMI Blog2024 (12) TMI 373X X X X Extracts X X X X X X X X Extracts X X X X ..... is accepted to be at arms length price by the TPO. This Tribunal in the assessee s own case, we are not inclined to accept the grounds raised by the revenue and in effect, we are dismissing the appeal filed by the revenue. - SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER For the Assessee: Shri Padam Chand Kincha, CA For the Revenue: Shri Sridhar E, CIT-DR ORDER PER BENCH These two appeals filed by the revenue and the two Cross Objections filed by the assessee for the above said two appeals arising out of the order passed by the Ld.CIT(A), Bangalore-12 dated 30/05/2024 and 14/06/2024 in respect of the A.Ys. 2008-09 and 2009-10 respectively. 2. Since the issues involved in the above two appeals are iden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re had set aside the similar TP adjustment made for the A.Y. 2008- 09 and therefore the present order is liable to be set aside. 4. The assessee in respect of the TPO s earlier order, in which the TP adjustment of royalty payment of Rs. 97,82,11,238/-, was originally challenged before the Tribunal and the Tribunal had remitted the issue to the TPO and while giving effect to the order of the Tribunal, the TPO had reduced the adjustment of royalty payment to Rs. 14,18,47,658/- which was challenged by the assessee before the Ld.CIT(A). The assessee made a submission before the Ld.CIT(A) that when the margin was accepted by the TPO to be at arms length price,the royalty could not be separately benchmarked. In support of their contention, the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct to the Transfer Pricing Analysis. At the time of hearing, the Ld.DR relied on the grounds of appeal raised by the revenue and prayed to allow the appeal filed by them. 6. On the other hand, the Ld.AR filed a compilation of case laws in which he has enclosed the orders passed by this Tribunal in assessee s own case in respect of the A.Ys. 2013-14, 2012-13, 2014-15, 2015-16, 2016-17, 2018-19 and 2007-08 and prayed that the issue was covered in favour of the assessee and prayed to follow the same and dismiss the appeal filed by the revenue. 7. We have heard the arguments of both sides and perused the materials available on record. 8. The only dispute arises in the appeal is whether the royalty can be separately benchmarked when the margin w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nabove. This view is also supported by various decisions of Coordinate Benches of this Tribunal as well as various High courts, Conjoint reading of these orders, we direct the Ld.AO/TPO to delete the adjustment proposed for royalty as a separate international transaction. Respectfully following the above view, we direct the Ld.AO/TPO to delete the adjustment proposed towards royalty as a separate international transaction. Accordingly, ground nos. 10 to 12 raised by assessee stands allowed. 13.1 The ld.DR relied on the order of the lower authorities and he submitted that since the assessee has adopted TNMM and the TPO has also accepted the methods for calculation ALP, the TPO has not made separate adjustment in regard to payment of royalty, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015 dated 20.2.2015 9. We find that the issue involved in this appeal is similar to the facts and circumstances found in the earlier orders of the Tribunal in the assessee s own case and therefore we are of the view that the Ld.CIT(A) had rightly allowed the appeal filed by the assessee challenging the order of the TPO in which the royalty was separately benchmarked even after the margin is accepted to be at arms length price by the TPO. 10. In view of the above said findings and the several orders passed by this Tribunal in the assessee s own case, we are not inclined to accept the grounds raised by the revenue and in effect, we are dismissing the appeal filed by the revenue. 11. The facts involved in ITA No. 1430/Bang/2024 in respect of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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