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2015 (4) TMI 179 - AT - Income TaxDepreciation on the WDV of technical support service fees paid - CIT(A) allowed part claim - assessee is a 50/50 joint venture, therefore, there was overaseas AE relationship with Fedders International Air Conditioning and Fedders International INC, USA - Held that:- Ld. CIT(A) has given a categorical finding that the expenditure being capitalized and thereupon the deprecation was allowed in the past, therefore, on the same lines, assessee was held as entitled for the deprecation. Thus, under the totality of the facts and circumstances of the case as discussed hereinabove, we are of the considered opinion that there was no fallacy in the direction of Ld. CIT(A) to re-compute the depreciation and allow the same as per law. Since part relief granted by Ld. CIT(A) is not disturbed hence this ground of the revenue is hereby dismissed.- Decided against revenue. Disallowance of belated payment of PF in respect of employees’ contribution - CIT(A) deleted the disallowance - Held that:- Considering the dates of payment, due dates and the date on which the payment was made and to conclude that the payment was made as per the extended grace period of due date as discussed by the Ld. CIT(A),we hereby confirm the said factual findings and uphold the deletion - Decided against revenue. Transfer pricing adjustment - CIT(A) deleted the addition - selection of most appropriate method - Held that:- The certain points were not dealt with by learned CIT(A). If the Assessee is insisting upon CUP method then the procedure prescribed to verify the correctness of that method was required to be followed by learned CIT(A). The comparable instances have not been discussed so as to arrive at the correct Arms Length Price. It is also not on record that whether the units which were purchased from non AE were identical with the units purchased from AE. Since, the order of learned CIT(A) is silent on those points and the procedure as prescribed under Rule 10B(1)(a) has not been discussed; therefore, we deem it proper to restore this issue back to him to be decided needless to say after providing adequate opportunity of hearing to both the sides. - Decided in favour of revenue for statistical purposes.
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