Hyundai Construction India (P.) Ltd. v. ACIT (2021) 213 TTJ 216 (Pune)(Trib.)

S. 92C : Transfer pricing-Arm’s length price-Customs duty paid-Adjustment is not warranted-Selection of comparable-BEML being a Government company cannot be included in the list of comparables. [R. 10B(1)]

Tribunal held that rate of customs duty paid by the assessee and the comparable is similar, no adjustment is warranted towards excess custom duty paid because the assesssee’s percentage of import to total materials purchased is higher than that of the comparbles. Tribunal also held that BEML being a Government company, cannot be included in the list of comparbles. (AY. 2013-14)