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As regards, the application of TNMM, as adopted by the TPO, it held the exact same was incorrect noting which the TPO experienced taken Swarovski Korea and Swarovski Singapore as comparable when these functions ended up AEs on the assessee by itself and will not be regarded as similar uncontrolled transactions. It also held the harmony 19 organizations picked because of the TPO weren't excellent comparables staying overseas firms operating in different lines of business and the computation of PLI was also faulted as being the TPO experienced averaged the PLI of comparables by getting gross margins in the situation of several companies and net margins in the case on the equilibrium.

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sixty. The Tribunal turned down assessee’s utilization of inside TNMM for benchmarking its Intercontinental transactions in its CAT producing section (using fashionable technological innovation with the assessee’s group) Using the non-CAT production phase (comprising of merchandise of erstwhile Hindustan Motors which had been obtained by it in 2011) as the two segments were not similar as a result of variances in technologies, marketing and advertising / R&D attempts, model, procurement process and risk profile used in The 2 segments. It observed the findings with the TPO which i). the Non-CAT group made use of the aged know-how Whilst the CAT class used the modern technological innovation of Caterpillar Group, and even the kinds of devices Employed in both the categories were being different with diverse specs ii) the Non CAT segment experienced pre-current marketing and advertising arrangements while CAT was a properly-recognised world brand iii) the products manufactured in Non-CAT segment Earlier belonging to Hindustan Motors didn't contain the identical model benefit since the items from the CAT section and for that reason the Non-CAT section experienced higher threats iv) resources ended up procured regionally for Non-CAT, Whilst with the CAT segment the Uncooked elements were imported, and held which the two segments couldn't be regarded as inner comparables.

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eleven. The Court docket relying on the decisions in Orchid Pharma and Webpage Industries, held that assessee (an Indian partnership company) along with the Belgian entity (shares of which ended up held by associates’ brother and relations) were not affiliated enterprises (AEs), as the conditions of segment 92A(2) are usually not fulfilled. The Courtroom, making use of the provisions of section 92A(two), held that mere fact of participation of one enterprise in management or Manage or cash of other company wouldn't make them AEs.

67. Exactly where the assessee had adopted the CUP method to benchmark its purchase and sale transactions from its here AEs plus the trade price reduction granted to the AE on account of prepayment (which was accepted from the TPO / DRP) and had also applied TNMM to corroborate the exact same, which was turned down through the TPO / DRP and also the assessee appealed ahead of Tribunal tough the stated rejection, the Tribunal held that after CUP was used as the MAM it was irrational for your assessee to elect to apply TNMM to substantiate the benchmarking on the transactions. Accordingly, it dismissed the attraction of your assessee hard the rejection of TNMM.

87. The Tribunal held that in Transfer Pricing proceedings, a company performing comparable functions couldn't be rejected for a equivalent on the bottom that it experienced larger proportion of material Price tag in total functioning Price tag. It additional held that a company rendering consultancy providers in the sector of Marine infrastructure, Industrial infrastructure, renewable Strength and so forth.

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ninety. The Tribunal held which the assessee, engaged from the organization of software package companies was not corresponding to a). Exensys Software Methods Ltd as the company experienced carried out a rare celebration (amalgamation) through the yr below review, b). Thirdware Answer as the corporate was engaged in buying and selling and enhancement of software package goods consequently functionally diverse c). Foursoft as it was engaged in developing innovative application merchandise and giving consultancy services without the need of segmental information d).

54. The Tribunal held that wherever the TPO experienced adopted TNMM as the most proper system and also the assessee had rendered related services to the two the AEs and non-AEs, as well as the non-AE transactions contented The inner TNMM, the Evaluating Officer ought to have considered them for figuring out ALP.

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sixty four. The Tribunal depending on the decision of the coordinate bench within the assesse’s own situation for AY 2006-07 [TS-915-ITAT-2016(BANG)-TP] and noting that which the TPO experienced used TNMM in respect of sale of spare parts for the assessee in the sooner evaluation 12 months held that TNMM as picked by the assessee was the MAM as in opposition to Price Additionally System adopted by TPO for AY 2008-09. More, it directed AO/TPO to look at the Operating cash adjustment claimed by the assessee and held that when The difficulty of MAM had been decided in favour in the assessee then The problem of working capital was needed to be reconsidered.

Infosys Technologies Ltd mainly because it owned sizeable intangible and experienced huge revenues from application products and the segmental aspects were not accessible.

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