Sec. 92C of Income-tax Act, 1961 & Rule 10A(d) & 10B(1)(e) of Income-tax Rules, 1962 — Transfer pricing - The appeal by the assessee is directed against the final assessment order passed by the AO under s. 143(3) r/w ss. 92C and 144C of the IT Act, in relation to the asst. yr. 2012-13. The moot question is whether the transactions of the assessee in production and distribution segments can be construed as ‘closely linked transactions’? The manufacturing segment cannot be aggregated with the distribution segment and both need to be benchmarked independent of each other. Tribunall dismissed the appeal of the assessee holding that ”Once it is held that the international transaction of the Production segment is required to be benchmarked separately, then the next question is the determination of the ALP. The Authorized Representative admitted that if the aggregation is not to be done, then there is no flaw in the computation of the ALP and the consequential transfer pricing addition in the final assessment order“. Thus, upheld the transfer pricing addition of Rs. 2,74,71,715 in the international transaction of production segment. - MAN DIESEL & TURBO INDIA (P.) LTD. V/s ASSTT. CIT - [2020] 204 TTJ 999 (ITAT-PUNE)