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2023 (5) TMI 108 - AT - Income TaxTP Adjustment - TP documentation adopted by the Ld. TPO - HELD THAT:- The argument of the Ld. AR deserves consideration on the fact that the assessee has not been provided an opportunity to rebut the comparables selected by the Ld. TPO, since the CD containing the comparables and the computation of the ALP was provided to the assessee along with the TP order. Argument of the Ld. AR that wherein the objections raised by the assessee were not considered by the Ld. TPO and also the Ld. DRP deserves consideration. AR in his written submissions has stated that with respect to sundry balances written back which was considered as non-operating income by the Ld. TPO without providing an opportunity to the assessee. AR also contended before us that the loan processing charges was considered as operating expenses by the Ld. TPO without providing an opportunity to the assessee. Similar treatment was also given in inventory valuation and adjustment on account of extraordinary cost and capacity adjustment wherein the assessee was not provided any opportunity to represent before the Ld. TPO. We therefore find that plea of the Ld. AR that matter may be remitted back to the file of the Ld. TPO deserves consideration. We consider it deem and fit to remit the matter back to the file of the Ld. TPO and thereby the assessee may be provided opportunity to make its submissions and rebut the TP documentation adopted by the Ld. TPO - Appeal of the assessee is allowed for statistical purposes.
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