Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 659 - AT - Income TaxAddition of opportunity cost of the deficient funds received by the assessee for nonpayment of share premium by the associate enterprise - Transfer pricing adjustment - Held that:- In view of decision of Vodafone India Services Pvt. Ltd. Vs. Union of India [2014 (10) TMI 278 - BOMBAY HIGH COURT] and order of the Tribunal in assessee own case for AY 2009-10 (2015 (4) TMI 89 - ITAT DELHI) we are of the considered view that there is no charging provision to tax capital account transaction in respect of issue of shares at a premium, therefore, transfer pricing adjustment made by the AO and upheld by the DRP amounting to ₹ 21,42,19,918/- does not survive and we direct the AO to delete the same. - Decided in favour of assessee.
|