Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 1365 - AT - Income TaxTransfer pricing adjustment - selection of comparable - Held that:- Perusing the said para 10 of the DRP”s order for the AY 2009-2010 find merit in the argument of the Ld Counsels for the assessee that the AO should consider the said comparable (Arraycom Ltd) without any adjustments. Accordingly, this part of the ground is allowed in favour of the assessee. We have perused the calculations furnished in Annexures 1A and 2A for the proposition that assessee is within the allowed margin of (+)/(-) 5% if the above issues are decided in assessee”s favour. We have held that Arraycom Limited should be allowed as comparable without adjustments and the case of Shyam Telecom Limited should be considered in favour of the assessee, therefore, in principle, both the arguments of the assessee are approved for the reasons given in the above paragraphs of this order. However, the figures given by the assessee in the said Annexures 1A and 2A are required to be verified. For this purpose, we remand this issue to the file of the AO for verification considering the above discussion. Granting of the depreciation u/s 32 on the goodwill being an intangible asset - Held that:- The additional ground is legal in nature and the same is required to be adjudicated as per the ratio of Supreme Court laid down in the case of Smifs Securities Limited [2012 (8) TMI 713 - SUPREME COURT (SC)] wherein it was held that the Goodwill constitutes an “asset” under Explanation 3(b) to section 32(1) of the Act. - Decided in favour of the assessee. Depreciation in respect of the capitalized software expenditure - Held that:- AO is directed to grant depreciation as per the relevant rules in respect of the software expenditure capitalized by the Revenue which is the subject matter of dispute raised in ground no.9. - Decided in favour of the assessee.
|