Facts:
The issue before the Tribunal was as
under:
Whether
the 'quotations' in the form of external CUP and custom data of third party
shipping bills, brokers rates, SOPA rates etc., can be considered as the
reliable comparable data or not.?
Tribunal held in favour of assessee
as under:
1. Gujarat High Court in case of CIT v.
Adani Wilmar Ltd. [2014] 45 taxmann.com 365 (Gujarat) has held that the price
publication as long as same are authentic and reliable would be relevant
material for the purpose of rule 10D(3)(c).
2. Even 'Quoted Prices' may be used if
they are authentic for comparability analysis in CUP method. For this one may
refer to the release of new guidance on cross border commodity transactions by
OECD on its Base Erosion and Profit Shi ing (BEPS) plan actions 8 and 10, 2015
Final Reports, wherein there is an addition to Chapter II of the Transfer
Pricing Guidelines relating to commodity transactions.
