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TMI Blog2024 (12) TMI 418X X X X Extracts X X X X X X X X Extracts X X X X ..... f TPO for fresh consideration in view of the finding of the ITAT in AY 2011-12. Therefore, we deem it proper to remand the matter to the file of the AO/TPO with a direction to admit the above said additional evidences and determine the most appropriate method for adopting the ALP in the facts and circumstances of the case. Thus, ground Nos. 3 4 raised by the assessee are allowed for statistical purposes. Disallowance of business promotion expenditure - assessee debited an amount under the head other expenses relating to business promotion expenses - HELD THAT:- Considering the submissions of both the parties and taking into account the undertaking given by the ld. AR that the assessee is ready to file evidences before the Assessing Officer, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and circumstances of the case. 7. Brief facts as emanating from the record are that the assessee is a private limited company, incorporated in the year 2008. Further, its shares are jointly held by Kubota Corporation, Japan and Sumitomo Corporation, Japan having 60% and 40% respectively. The assessee is engaged in the business with the objective of distribution of agricultural machinery in India. The assessee entered into international transactions and the details of transactions are reflecting in para 4 of the TPO s order. The assessee preferred Resale Price Method as most appropriate method in respect of transactions pertaining to purchase of goods from its Associated Enterprises (AE). The assessee was asked to explain in adopting resal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se for AY 2011-12 in remanding the matter to the file of the TPO for fresh consideration in terms of the additional evidences. The relevant para 7 in ITAT order in assessee s own case is reproduced hereinbelow: 7. After hearing the rival contentions and going through the facts and circumstances of the case, the facts are undisputed as the learned CIT-DR has not objected to the admissibility of the additional evidences and we admit these evidences as noted above in paragraph no. 4 and we set aside the matter back to the file of the Assessing Officer/Transfer Pricing Officer who will determine the most appropriate method to be adopted for determining the ALP in the given facts and circumstances of the case as per law. Hence, the orders of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(TP)A No. 62/Chny/2018 for AY 2014- 15, wherein, basing on the finding of the ITAT Chennai in assessee s own case for AY 2011-12 vide order dated 25.05.2022 in ITA No. 739/Chny/2016, remanded the matter back to the file of the TPO for fresh adjudication in view of the additional evidences, brought on record, applying direction to admit the same and determine the most appropriate method and ALP in the above mentioned paragraphs. We hold that the same view is applicable in ground Nos. 3 4 also. Thus, ground Nos. 3 4 raised by the assessee are allowed for statistical purposes. 17. Ground Nos. 5 to 8: In view of our decision in ground Nos. 3 4, we find that the assessee s ground Nos. 5, 6, 7 8 becomes infructuous requiring no adjudication. A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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