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2019 (8) TMI 348 - ITAT PUNETP Adjustment - assessee in the packaging solutions division had been carrying on various closely linked transactions - aggregation transactions of packaging solutions with import of straw from AE - applied TNMM method as most appropriate method - HELD THAT:- The Tribunal while deciding the issue in assessment year 2009-10 [2017 (9) TMI 1836 - ITAT PUNE] had noted the fact that as part of its packaging activity, as business strategy, it was identifying the customers and marketing its products to them. In addition, the assessee was also supplying packaging material and also straws were sold to the customers as business strategy. The said straws were imported from associated enterprises for sale to the customers. So, this was business strategy applied by assessee and the transaction of sale of straws cannot be benchmarked separately, once the aggregation approach is to be applied. Following the same parity of reasoning, we allow the claim of assessee and delete the transfer pricing adjustment made in the hands of assessee as by applying TNMM method, it was held that aggregation of transactions undertaken by it were at arm's length price with the margins of comparables finally selected. There is no dispute about selection of comparables. Allowability of expenses which was disallowed in earlier year for non deposit of TDS - since TDS was deposited in current year - HELD THAT:- In the year under consideration, the said TDS was deposited and the assessee claimed the said expenditure as allowable in its hands. However, the issue of deductibility of TDS in assessment year 2011-12 has been set aside by the Tribunal to the Assessing Officer and consequent to its being settled, in case no disallowance is made in assessment year 2011-12, then the issue raised by way of ground of appeal No.6 would become academic; otherwise, the same needs to be allowed in the hands of assessee.
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