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2018 (11) TMI 264 - AT - Income TaxTPA - Advanced Pricing Agreements (APA) made u/s.92CC - Held that:- In this case the APA is found applicable to the earlier assessment years in those cases, as the case may be, when the facts of the A.Y. 2008-09 are similar to that of the assessment year covered in the APA. The matter should be remanded to the file of AO/TPO, as the case may be, for the purpose of comparing the facts of the case and the relevant terms of agreement between the CBDT and the assessee. AO is directed to examine the facts closely and conclude the assessee on the issue of applicability of APA to the assessee’s case for the year under consideration in principle. Claim of deduction of the assessee u/s.10A, 10AA - Held that:- Considering the binding nature on the issue in the assessee’ own case as well as jurisdictional High Court judgment in the case of CIT Vs. Schmetz India Pvt. Ltd.[2016 (2) TMI 1064 - SUPREME COURT] we are of the opinion that the AO has not made out a case that there exists an arrangement and the said arrangement is malafide and it falls in the mischief of the provisions of section 80IA(10) r.w.s. 10A(7) of the Act.
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