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2022 (4) TMI 840 - ITAT CHENNAITP Adjustment - comparable selection - inclusion of M/s. Ashnoor Textiles Mills Ltd - HELD THAT:- DRP has held that the claim of the assessee is correct and there was no basis for the TPO to reject M/s. Ashnoor Textiles Mills Ltd. holding it as loss making. DRP has directed the TPO/AO to include M/s. Ashnoor Textiles Mills Ltd. as a comparable. We find no infirmity in the proceedings of the ld. DRP, which was rightly reflected in the final assessment order dated 28.12.2015 passed u/s 144C(13) r.w.s. 143(3) of the Act. Under the above facts and circumstances, we find no infirmity in the proceedings of the ld. DRP as well as assessment order on this issue. Directions of the ld. DRP to ascertain the percentage of risk adjustment - After considering the arguments of the assessee as regards operating in a challenging market, competitive price offer from foreign and Chinese manufacturers and the necessity of retaining skilled manpower irrespective of fluctuation in volume of productions as well as the details of break-up of the employee cost, the ld. DRP was of the opinion that appropriate adjustment should be allowed to the assessee and accordingly directed the TPO to decide the percentage of risk adjustment to be calculated in this issue after taking into account of all the relevant facts and details. After carrying out the directions contained in the proceedings of the ld. DRP, the AO has completed the final assessment order under section 144C(13) r.w.s. 143(3) of the Act by revising the upward adjustment to Nil. Thus, we find no infirmity in the order passed by the ld. DRP/AO. Appeal filed by the Revenue is dismissed.
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