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2019 (3) TMI 1247 - AT - Income TaxMAT u/s 115JB - jurisdiction of AO to alter the book profit u/s 154 through rectification order - upward adjustment in respect of international transaction regarding 80IC deduction to the book profit of the assessee u/s 115JB - adjustment specified in Explanation (1) section 115JB - HELD THAT:- AO has no jurisdiction to alter the book profit u/s 154 of the Act. On an examination of Explanation (1) to section 115JB of the Act, we find as rightly held by the CIT(A) that there was no clause specified in respect of upward adjustment of international transaction. Regarding the decision in Berkadia Services India Pvt.Ltd. vs DCIT [2014 (11) TMI 840 - ITAT HYDERABAD] as relied by the CIT(A) in its order that the CO-ordinate Bench of Hyderabad Tribunal held that when the income having been finally assessed by the AO as per the normal provisions of the Act, the issue in respect of TP adjustment would become academic in nature. CIT(A) rightly placed reliance on the order of Co-ordinate Bench of Hyderabad Tribunal and as we discussed above, the AO completed assessment under normal provisions of the Act and he has no jurisdiction to add upwards adjustment as recommended by the TPO to the book profit. - decided against revenue
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