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TMI Blog2024 (3) TMI 1387X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee - HELD THAT:- ITAT found that the comparables selected by the assessee were valid, as they belonged to the same industry and geographical region as those considered by the TPO. The ITAT directed the inclusion of additional comparables, which were also deemed valid for benchmarking royalty payments The assessee has paid royalty for use of trademark and marketing information /marketing kno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. This is an application filed by the appellant seeking condonation of 93 days delay in filing the present appeal. 2. For the reasons stated in the application, the delay of 93 days in filing the appeal is condoned. 3. Application is disposed of. ITA 304/2023 4. The order dated 25 May 2023 reflects that the primary question which was presented for our consideration was found to have been answere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ows: 16. We have heard the rival submissions of the Ld. Representative of the parties and perused the material available on records. The Ld. TPO as well as the Hon ble DRP has upheld CUP as the most appropriate method for benchmarking transactions with respect to payment of royalty. Since the application of CUP is not disputed either by Ld. AR or DR, we hold CUP to be the most appropriate method f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oes not hold good. 16.3 So far as the objection of the Hon ble DRP on the product dissimilarity is concerned, it is observed from the perusal of the description of the agreements as provided in the Royaltstat database, all the three comparables selected by the Ld. TPO and the comparables selected by the assessee belong to same industry i.e. kitchenware and home furnishing items and hence these are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of trademark and marketing information /marketing know-how. All the eight comparables listed in the chart in para 16.5 above are from the same geography and same industry and hence are valid comparables to that of the assessee. Accordingly, the Ld. AO/TPO is directed to include the aforesaid eight comparables in the final set of comparable agreements for the purpose of benchmarking the payment o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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