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2022 (1) TMI 1034 - AT - Income TaxTP Adjustment u/s 92 - Addition to provision of clinical study management and monitoring sport services - HELD THAT:- We are of the considered view when issue as to removing “the pass-through cost” from the cost base for computing operating margin has already been decided by the Coordinate Bench of Tribunal in assessee’s own case in its favour no adjustment in the given circumstances, even by taking comparables chosen by the TPO as correct one is warranted - AO is directed to verify the facts as to the claim of the assessee qua “pass-through cost”, if correct to allow the same. Consequently, we are of the considered view that Ld. CIT(A) has legally and validly decided the issue in favour of the assessee, hence ground no. 1 & 2 are determined against revenue. Transfer price adjustment qua international transaction pertaining to import of Finished Drugs Formulations (FDF) i.e. Minipress for trading purposes - HELD THAT:- When the identical expenses claimed by the assessee have already been allowed by the Tribunal in AY 2002-03 and revenue while accepting the decision of the Tribunal deleted the identical expenses in AY 2000-01 which has been accepted, we find no reason to interfare into the findings returned by CIT(A) while following the rule of consistency - market expenses are incredible part of the business in the pharmaceutical field and it is not the case of the revenue that any new product has been introduced by the assessee during the year under consideration. So, the findings rendered by CIT(A) are hereby upheld. Depreciation claimed by the assessee on plant and machinery of Ankleshware Plant - HELD THAT:- We are of the considered view that this contention of the Ld. DR is not tenable because once the asset is purchased and enters into a particular block of assets, the same is not individually identifiable as depreciation is available on the entire block of assets in view of section 32 of the Act. Moreover, this issue has been successively decided in favour of the assessee from AY 2001-02 to 2003-04 [2010 (3) TMI 1268 - ITAT MUMBAI]. Correct head of income - Rental income received from subleasing of commercial properties as income from business as against claim of the assessee being income from house property on the ground that renting out of premises amounts to commercial exploitation for business purpose by the assessee - HELD THAT:- As perused the order passed by Ld. CIT(A) who has duly thrashed the facts that when the period of lease exceeds 12 years (including renewal period), it could be considered as the “deemed owner of the property‟ within the meaning of section 27(iiib) r.w.s. 269UA(f) of the Act. So, we find no scope to interfare into the findings rendered by Ld. CIT(A).Ground No. 8 is determined against revenue.
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