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2021 (3) TMI 78 - AT - Income TaxRevision u/s 263 - TP adjustment - HELD THAT:- Since the order giving effect to ITAT order for AY 2008-09 was not passed at the time of passing the order giving effect to 263 order on 28.9.2015, the AO had not considered it. However, this was noticed by the CIT(Appeals) and he has given a direction to reduce the original TP adjustment from ₹ 97,82,11,238 to ₹ 14,18,47,658. AO is directed by the CIT(A) to start the computation of total income as mentioned in Order Giving Effect to the ITAT order dated 20.1.2016. Disallowance of warranty provision - contention of the ld. DR is that the assessee had not furnished requisite details before the lower authorities for claiming such deduction in AY 2010-11 - Admittedly, this deduction cannot be allowed in the assessment year under consideration as warranty provision was allowed on actual basis. However, the actual claim of assessee that it should be allowed as a deduction in AY 2010-11 on the ground that it was offered to tax in AY 2011-12, requires examination of the records by the AO on production of the same by the assessee in the relevant AY 2010-11. This claim of assessee cannot be considered in the present AY 2008-09, as the AY 2010-11 or 2011-12 is not before us for adjudication. The assessee may take appropriate remedial action in the relevant assessment year, if so advised. With these observations, we dismiss the ground relation to allowability of warranty provisions in this assessment year.
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