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2015 (2) TMI 319 - AT - Income TaxTransfer pricing adjustment made for the international transaction of ‘Cost allocation from associated enterprises’ - Held that:- Both the sides before us are in agreement that the facts and circumstances for the instant year are mutatis mutandis similar to those of the preceding year. It can be seen that for this year also, the assessee has moved an application under rule 29 of the ITAT Rules seeking to file some additional evidence. Without going into the merits of this issue and respectfully following the precedent, we set aside the impugned order on this score and send the matter back to TPO/AO for a fresh decision as per law after allowing a reasonable opportunity of being heard to the assessee. Needless to say, the assessee will be at liberty to file any fresh evidence before the authorities in such de novo examination.- Decided in favour of assessee for statistical purposes Transfer pricing adjustment for international transaction of ‘Cost Recharges’ - Held that:- t can be noticed that the assessee tried to file certain details in this regard before the DRP vide its letter dated 5.8.2011, a copy of which is available on page 4 to 6 of the paper book. Such details appear to have escaped the attention of the DRP. It was claimed that Shri Ratindra R. Puri was sent by its foreign AE as Managing Director of the assessee-company, whose salary etc. was paid through its foreign AE and the same was reimbursed as such without any mark-up. Since the necessary details in this regard were not filed before the TPO and the DRP also chose not to comment upon the same, we are of the considered opinion that the ends of justice would meet adequately if the impugned order on this issue is also set aside and the matter is restored to the file of TPO/AO. - Decided in favour of assessee for statistical purposes TP adjustment in IEC Segment - selection of comparable - Held that:- Following the order in the case of Toluna India (2014 (10) TMI 424 - ITAT DELHI), we hold that the companies Avani Cimcon Technologies Ltd.,E-Zest Solutions Ltd., Ishir Infotech Ltd. and Thirdware Solutions Ltd. are comparable, while the others are not. In the final analysis, we set aside the impugned order on this issue and send the matter back to the file of TPO/AO for the determination of the ALP of the international transaction under IEC segment afresh in the light of our above directions. - Decided in favour of assessee for statistical purposes
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