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2015 (6) TMI 23 - AT - Income TaxTP adjustment - adjustment of ₹ 51,20,400/- to the value of international transactions by accepting the CUP method - Held that:- By applying the rate difference of ₹ 150/- per hour to the number of hours charged to AE at 34,136, the CIT(A) arrived at adjustment of ₹ 51,20,400/- as against adjustment of ₹ 73,46,647/- made by AO. We found that in assessee’s own case in A.Y.2003-04 to 2007-08 vide order dated 25-5-2012 the Tribunal had deleted the adjustment made by TPO by accepting CUP as most appropriate method. The Tribunal has also recorded a categorical finding to the effect that the TPO has not brought out any material on record to prove that the per hour rate charged by the assessee company is lower than that charged by third party in the same line of business. However, in the instant case, after recording categorical finding regarding rate difference of ₹ 150 per hour, the TP adjustment has been restricted by the CIT(A) to ₹ 51,20,400/- as against adjustment of ₹ 73,46,647/- made by TPO. Detailed finding recorded by CIT(A) at para 2 of his order has not been controverted by ld. AR by bringing any positive material on record. Accordingly, we do not find any reason to interfere in the findings recorded by the CIT(A) resulting into addition of ₹ 51,20,400/-. - Decided against assesse. Adjusting the brought forward losses against the income of section 10A unit, before deduction u/s.10A - held that:- As relying on case of Black & Veatch Consulting Pvt. Ltd [2012 (4) TMI 450 - BOMBAY HIGH COURT ] no merit in the order of lower authorities for adjusting brought forward losses against income of Section 10A unit, before deduction u/s.10A. Accordingly, the AO is directed to allow claim of deduction u/s.10A on the profit of eligible unit before adjusting the brought forward losses against the income of Section 10A unit - Decided in favour of assesse.
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