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2011 (1) TMI 124 - AT - Income TaxAddition of income - The main addition in the present appeal is an addition of Rs. 40,67,16,966 on account of variation in income as a consequence of order of Transfer Pricing Officer (TPO) under section 92C (3) of the Act - The assessee had filed objections before the Dispute Resolution Panel (DRP) against the draft order of the Assessing Officer on 31st December, 2009 and the objections of the assessee were disposed of by the Dispute Resolution Panel –II – Due to technology advancement the assessee had entered into technology transfer agreement with JCB group in March, 2004 for the manufacturing of a range of new/advanced product named as 3DX - Since the assessee has already paid royalty for product 3D and had not changed any royalty from year 1987 to F. Y. 2004-05 no royalty could be paid at arm’s length price on the same product with cosmetic changes in this year - The writ petition is allowed to the extent indicated - matter restored back to the file of DRP to pass a detailed order.
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