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2015 (1) TMI 148 - AT - Income TaxTransfer Pricing Adjustment u/s 92CA(4) of the Act – Various expenses incurred – Disallowance u/s 14A of the Act - Cost of funds utilized - Held that:- Assessee made payment of the above amount on receipt of technical services pursuant to an Agreement dated 26.04.2006, a copy of which has been placed on page 196 of the paper book. Such payment was made in consideration of receipt of technical services in the preceding year as well, for which the TPO proposed and the AO made transfer pricing adjustment in the same manner in which it has been done for the instant year. The assessee preferred appeal against that order and the Tribunal vide its order [2014 (2) TMI 380 - ITAT DELHI] has restored the matter for a fresh determination of ALP with certain directions. A copy of such Tribunal order is available on record. In the absence of any distinguishing factual or legal feature having been brought to our notice in the facts for the preceding year as well as for the instant year, respectfully following the precedent, we set aside the impugned order and remit the matter to the file of the AO/TPO for a fresh determination of ALP of this international transaction in accordance with law, after allowing a reasonable opportunity of being heard to the assessee. - Matter remanded back - Decided in favour of assessee.
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