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2017 (3) TMI 1032 - ITAT AHMEDABADTPA - selection of comparables - Held that:- Lower authorities have erred in excluding assessee’s two comparables namely M/s. IAI Industries and Victor Gaskets. As from the case file that the assessee as well as the above two entities do have the same NIC codes of 30913 indicating to be having broader comparability in automotive ancillary segment. These two entities profiles reveal them to be engaged in manufacturing activity of auto ancillary parts not disputed by the lower authorities. We accordingly quote assessee’s TNMM method having hallmark of broader product similarity. This transfer pricing issue is accordingly remitted back to the file of Transfer Pricing Officer to pass afresh order as per law after including these two entities Correctness of Section 43B disallowance of Sales Tax payment - Held that:- The assessee has sufficiently made its case to have paid in advance the sales tax sum in question in said earlier assessment years without claiming any deduction. It pleaded before the Assessing Officer that the Commissioner (appeals) concerned had declined its challenge to the impugned sales tax liability thereby crystallizing the same in the impugned assessment year making it to record necessary entry in P&L account. Learned Departmental Representative fails to dispute this factual position. We accordingly direct the Assessing Officer to delete the impugned disallowance. This ground is accepted.
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