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2015 (10) TMI 998 - ITAT CHENNAITransfer price adjustment - upward adjustment of ALP - contention of the Ld. A.R. was that for the purpose of determining the ALP for the transactions related to the assessee company with that of its AEs, internal comparison would be more appropriate than the external comparison - Held that:- Assessee has produced all the relevant materials to arrive at the segmental profitability with the assessee’s AEs. This avowal of the Ld. A.R. had been objected by the Ld. D.R. The Ld. A.R. further submitted that the assessee had produced a certificate from the Chartered Accountant with respect to the segmental financial breakup relating to profitability with AE and non-AE transactions.Considering these facts and circumstances of the case, we are of the considered view that the matter is required to be remitted back to the file of the Ld.TPO to once again verify as to whether the segmental financial break up relating to profitability from AEs and non-AE are available to the satisfaction of the Revenue. If the assessee is able to establish the same, then the Ld. TPO shall pass appropriate order as per law and merits considering the case laws cited by the Ld. AR herein above - Decided in favour of assessee for statistical purposes. Disallowing U/s. 40(a)(ia) - A.R. submitted that the amount was expenses incurred during the assessment year 2008-09 which was already disallowed by the Revenue for non-deduction of tax in that assessment year and Revenue had inadvertently disallowed the same once again - Held that:- D.R agreed before us that the matter may be sent back to the file of Ld. Assessing Officer to verify the contention of the Ld. A.R., and if the same was double disallowance, then the addition made based on such disallowance may be deleted. Considering the submissions of both the Ld. A.R. and the Ld. D.R, in the interest of justice we hereby remit back the matter to the file of Ld. Assessing Officer to verify the contention of the Ld. A.R. and if it is found to be in order then the addition made based on such disallowance for the relevant assessment year shall be deleted. - Decided in favour of assessee for statistical purposes.
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