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The transfer pricing report and the most appropriate method adopted by the assessee is not sacrosanct and may require a relook due to change in market dynamics and market conditions such as in Star India case involving a transaction of purchase of bundle of sport broadcasting rights. Other method were preferred over CUP method in such kind of transactions. 

In a unified view the special bench of the Tribunal in Star India case @(2023] 105 ITR (Trib) 1 (ITAT[Mum]) thus held that assessee can resile from the most appropriate method as was adopted in the transfer pricing study report, provided that the new method conforms to the requirement of rule 10C(2) of the Income-tax Rules, 1962. 

In the sequel the Tribunal being the last fact finding authority is more so duty bound to ascertain the correct facts, nature and class of transactions, the FAR analysis, reliability of data and thereafter arrive at the most appropriate method to benchmark the impugned international transaction, which may resile from the method adopted by the assessee in the transfer pricing study report.

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