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2021 (11) TMI 238 - AT - Income TaxDepreciation on intangible assets - HELD THAT:- As per our orders in the earlier assessment years 2010-11 & 2014-15 [2021 (5) TMI 252 - ITAT PUNE] AND 2012-13.[2021 (8) TMI 1243 - ITAT PUNE] in respect of the assessee, the issue of depreciation on intangible assets is allowed for statistical purposes whereas the issue of depreciation on other assets is allowed. Thus, Ground Nos. 1 to 4 raised in appeal by the Revenue are partly allowed for statistical purposes. TP adjustment - method of benchmarking royalty payment merging with transactions of purchase of raw materials - HELD THAT:- CIT(Appeals) has accepted the receipts of services and going through the various evidences placed before us annexed in the paper book, there is no dispute regarding such receipt of services. DR could not place any evidences contrary to these facts on record. That only for determination of arm's length price of the transaction payment of royalty has to be benchmarked separately and cannot be aggregated with the payment for purchase of raw materials. This exercise has to be done by the Assessing Officer/TPO. Ground are restored to the file of Assessing Officer/TPO for adjudication as per law and as per aforesaid observations.
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