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2019 (2) TMI 2101 - AT - Income TaxTP adjustment on account of outstanding receivables - DRP directed to give working capital adjustment and re-compute the interest chargeable on outstanding net receivables by applying LIBOR + 400 bps - HELD THAT:- We note that the Tribunal [2017 (10) TMI 111 - ITAT DELHI] for assessment year 2012-13 in case of the assessee, following the decision of Kusum Health Care Pvt. Ltd. [2017 (4) TMI 1254 - DELHI HIGH COURT] held that "no separate adjustment on account of interest receivable is required when working capital adjustment has already been made to the margins of the comparables while comparing the margin of the assessee under the TNMM. We set aside the finding of the DRP complied by the Assessing Officer in the impugned order and delete the adjustment on account of the interest receivables. In the result, the grounds of the appeal of the assessee are allowed. Disallowance towards "stock written off" - AO disallowed the claim in respect of obsolete inventory on the ground that the assessee did not furnish any report from any Engineer, production head or certificate from the third party that said inventory has become obsolete - DRP found that no such report from the Engineer or production head or third-party certificate was produced before the learner DRP, thus the Assessing Officer was directed to verify the submission of the assessee and bring out the facts properly and passed a speaking order on the issue - HELD THAT:- As the assessee failed to produce any certificate from the expert third-party, respectfully following the finding of the Tribunal [2018 (2) TMI 1525 - ITAT DELHI], we reject the contention of the assessee and dismiss the grounds of appeal raised by assessee in this regard. Disallowance as excess depreciation claimed on fixed assets acquired by the assessee from NCR Corporation India Private Limited. - HELD THAT:- The issue in dispute being identical to the issue decided by the Tribunal (supra), respectfully following the same, the issue of excess depreciation claimed is restored to the file of the Ld. Assessing Officer for verification and decide in view of the direction of the Tribunal [2018 (2) TMI 1525 - ITAT DELHI]. The ground of the appeal is accordingly allowed for statistical purposes.
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