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2020 (1) TMI 1171 - AT - Income TaxTP adjustment - assessee is primarily aggrieved against the selection of comparables - contention of assessee is that though with the set of comparables selected by the CIT(A) OP/OC ratio of the comparables is within +/- 5% range, however, in principle Goldman Sachs and AGM India Advisors Pvt. Ltd. cannot be selected as comparables as they do not qualify RPT filter - HELD THAT:- Assessee is providing Investment Advisory Services and has declared margin of 20%, we find merit in the contentions of the assessee. If the said entities fail to qualify RPT filter, they cannot be selected as comparables. We deem it appropriate to restore this issue back to the file of Assessing Officer/TPO for the limited purpose to verify whether Goldman Sachs and AGM India Pvt. Ltd. qualify RPT filter or not. If both these entities fail to qualify the said filter, they should be removed from the list of comparables. The ground No.1 & 2 of the appeal by the assessee are allowed for statistical purpose in the terms aforesaid. Addition of TDS amount deducted but not deposited by the deductor to the Government exchequer - HELD THAT:- Bombay High Court in the case of Yashpal Sahni [2007 (7) TMI 7 - HIGH COURT , BOMBAY] has held that where the assessee has been able to establish that the tax has been deducted at source, section 205 of the Act bars to recover TDS amount from the assessee (deductee) - if assessee is able to establish that tax has already been deducted at source on interest payments, the TDS amount cannot be recovered from the assessee again. The issue is restored back to the file of Assessing Officer for the limited purpose to verify whether TDS amount has been deducted from interest payments. The assessee shall furnish necessary documents to substantiate deduction of TDS on the interest payment received by it. The Assessing Officer after examining the documents, if satisfied that the TDS has already been deducted, shall delete the addition. Ground No.3 of the appeal is allowed for statistical purpose, in the terms aforesaid.
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