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2015 (10) TMI 2376 - AT - Income TaxAdjustment made on account of arm's length price of interest receivable transaction from the Netherland based associate enterprise company - Held that:- Hon’ble Bombay High in Court CIT Vs. Tata Autocomp Systems Ltd. (2015 (4) TMI 681 - BOMBAY HIGH COURT ) has held that while computing arm's length price of international transaction, where the assessee had advanced loan to its associate enterprises situated in Germany, then the rate of interest was to be determined on the basis of rate prevailing in Germany, where the loan had been consumed and not to be determined on the basis of rate prevailing in India. The issue arising in the present appeal is identical to the issue before the Tribunal in assessee’s own case relating to assessment year 2008-09 and before the Hon’ble Bombay High Court in CIT Vs. Tata Autocomp Systems Ltd. (supra) and following the same parity of reasoning, we direct the Assessing Officer to re-compute arm's length price of international transaction entered into by the assessee with its associate enterprises, following the directions in our earlier year. The learned Authorized Representative for the assessee pointed out that though in the earlier, there was discrepancy in the picking up of figure interest receivable from associate enterprises, but in the year under appeal, there is no such issue. Decided in favour of assessee. Disallowance of additional depreciation under section 32(1)(iia) of the Act on items of fixed assets - Held that:- We direct the Assessing Officer to allow the additional depreciation under section 32(1)(iia) of the Act on trolley and industrial fans - Decided in favour of assessee in part Deduction claimed on account of payments to PF / ESCI - Held that:- Perusal of the details tabulated in assessment order reflect that the payments have been made by the assessee within a delay of few days and much before the due date of filing the returns. Following the ratio of CIT Vs. Ghatge Patil Transports Ltd. (2014 (10) TMI 402 - BOMBAY HIGH COURT ), we hold that the assessee is entitled to the claim of deduction in this regard. Accordingly, we direct the Assessing Officer to disallow the addition - Decided in favour of assessee
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