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2015 (3) TMI 1133 - AT - Income TaxTransfer Pricing adjustment on account of difference in the issue price of equity shares to the holding company and ALP computed by the TPO treated as loan advanced to the AE - Held that:- This issue regarding computation of fair market value of shares issued by the Indian subsidiary to its holding company and shortfall in premium was treated by the TPO as income as well as loan advance given to the holding company and consequent addition has been considered by the Hon’ble Jurisdictional High Court in the case of Vodafone India Services Pvt. Ltd (2014 (10) TMI 278 - BOMBAY HIGH COURT ). Thus we delete the addition made by the authorities below on account of shortfall in premium for issuance of equity shares by the assessee to its holding company has been treated as deemed loan - Decided in favour of assessee Credit of TDS denied - Held that:- Since the assessee has already filed a petition u/s 154 for grant of credit for tax deducted at source. Accordingly, we direct AO to verify the claim of assessee and then pass the appropriate order.
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