Retrospective effect to Sixth Method - 'Key' to solving earlier years' disputes?

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The Sixth Transfer Pricing Method was introduced a couple of years ago to resolve the increasing TP complexities with regards to the various methods. The Delhi ITAT, in 2 cases (Toll Global Forwarding India [TS-383-ITAT-2014(DEL)-TP] & Geodis Overseas [TS-389-ITAT-2014(DEL)-TP]), decided few weeks ago, held that the sixth method ought to have a retrospective effect right from the onset of TP regulations in 2002. Relying on the principle of 'fairness' enunciated in the recently delivered landmark judgment of SC's Constitution Bench in Vatika Township [TS-573-SC-2014], ITAT held that "What logically follows from the law so settled by a constitutional bench of Hon’ble Supreme Court, is that the operation of rule 10BA, which confers the benefit of an additional method of ascertaining arm’s length price and, inter alia, relaxes the rigour of CUP method, can only be retrospective in effect."


Is the ITAT right in applying the sixth method retrospectively? Are there ongoing TP issues/ controversies for past years, where the sixth method could come in handy? Will the 'fairness' principle laid down by the Apex Court, be the guiding light to settle tax litigation?

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