Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (5) TMI 309 - AT - Income TaxTP Adjustment - ALP adjustment - royalty segment treated as an international transaction u/s 92B - HELD THAT:- This issue is no more res integra since learned co-ordinate bench’s latest order in taxpayer’s own case for A.Y. 2017-18 [2023 (1) TMI 1029 - ITAT PUNE] held that international transaction of payment of Royalty by the assessee for use of technical support cannot be clubbed with other international transactions under the Manufacturing segment. Both the parties are fair enough in not pinpointing any distinction on the relevant facts as well as law since the only exception taken is that of availability of relevant details for the purpose of computing the impugned adjustment.The fact remains that the foregoing co-ordinate bench has already decided the instant issue in principle. Faced with the situation, we adopt judicial consistency and direct the learned AO/TPO to frame the consequential computation as per law in very terms preferably within three effective opportunities of hearing. The assessee’s instant former instant substantive ground succeeds for statistical purposes in very terms. Duty drawback addition - Assessee sole plea during the course of hearing is that the same already stands assessed in the succeeding assessment year 2019-20 i.e. the year of actual receipt - HELD THAT:- Faced with the situation, we deem it appropriate to restore the instant issue as well back to the Assessing Officer to ensure that there shall not be any double addition for the instant issue once this amount has already been assessed. He shall finalize the consequential factual verification of issue in very terms.
|