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2011 (3) TMI 860 - AT - Income TaxReference to DRP - Arms length price - Non speaking order - TNMM method - Depreciation - assessee is a domestic company having 94.03% equity holding with Geodis Asia and 5.97% equity holding with INDEV Shipping Services - in the case of IL Gin Electronic India Pvt. Ltd 438/Del/2008 in which it has been held that the adjustment can be made only to the extent of difference in the arm's length operating profit with adjusted profit with reference to the international transaction and not to the total turnover of the assesseAppeal is allowed by way of remand to DRP As per the principles of natural justice, if anything which goes in favour of the assessee and which has been ignored, if can be produced before the completion of the assessment, must be taken into consideration while framing the assessment - It can be seen from the order of the DRP that the objections of the assessee regarding adjustment of working capital, capacity utilization and fixed asset have not been taken into consideration - Appeal is partly allowed
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