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2022 (11) TMI 529 - AT - Income TaxTP adjustment - denominator of the profit level indicator (PLI) - TPO has taken operating profit / total cost (OP/TC) as the PLI whereas in the case of the assessee in preceding years, operating profit / (value added expenses)VAE - HELD THAT:- DRP following the findings of its predecessors upheld the OP/ OC as the appropriate profit level indicator (PLI), but the Tribunal for A.Y. 2010- 11 [2019 (12) TMI 1258 - ITAT MUMBAI] has upheld OP/VAE is the Profit Level Indicator for comparison under TNMM. Respectfully following the finding of the Tribunal (supra), we direct the Ld.AO / TPO to adopt OP/VAE as the profit level indicator for comparison with the comparable cases. The ground of appeal of the assessee is accordingly allowed for statistical purpose. Claim of TDS short granted - HELD THAT:- As assessee before us admitted that credit in respect of certain TDS has been received subsequent to the order passed by the Assessing Officer. In our opinion, the issue is merely a verification of the eligibility of the TDS credit of the assessee by the Assessing Officer and, therefore, same is restored back to the file of the Ld.Assessing Officer for allowing the TDS credit as per rules applicable. The ground of the appeal of the assessee is accordingly allowed for statistical purpose.
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