Sec. 92C of Income-tax Act, 1961— Transfer pricing - The travel of assessee from losses to profits pursuant to the collaboration with the Arkadin SA, France is evident. Its acquisition how cannot be presumed to be without any cost. CIT(A), rightly pointed out the findings of the AO that the payments were made without any business purpose and without any commensurate benefit to the assessee are not based on any cogent material and without bringing any adverse material on record. Tribunal agreed with the CIT(A) in his findings that the AO failed to specify how the payments made by the assessee were not in commensurate with the services obtained by the assessee and such findings are without any basis. The very fact of the AO disallowing the income and the reimbursement which does not pass through the P&L a/c while disallowing the expenses shows that the disallowance was made by the AO without any proper verification of the material facts available on record. Appeal against the order of CIT(A) of deleting addition made by the AO on account of ALP, dismissed. - DY. CIT V/s ARKADIN CONFER INDIA (P.) LTD. - [2020] 204 TTJ 912 (ITAT-DELHI)