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2023 (7) TMI 848 - AT - Income TaxTP adjustment - transaction support services - intragroup services paid to AE - whether there was actual rendition of services or not? - HELD THAT:- The Hon'ble Tribunal (A Y 2015-16 and 2016-17) [2020 (2) TMI 156 - ITAT DELHI] and [2022 (1) TMI 1386 - ITAT DELHI] deleted the entire adjustment made by the Ld. TPO on account of intra group services by giving detailed reasons and finding that documentary evidences clearly show the rendition of services by the AE to the appellant company. Moreover, the TPO himself has accepted the fees received by the assessee from rendering these services. We fail to understand why the payments have been subjected to different treatments. No merit in the TP adjustment. Disallowance of depreciation on goodwill - HELD THAT:- As decided in assessee own case this issue is by now well settled by the decision of Smifs Securities Ltd [2012 (8) TMI 713 - SUPREME COURT] wherein held that good will acquired on amalgamation [being the difference between cost of assets and consideration paid} is a capital right and thus eligible for depreciation u/s 32. Disallowance of bad debts written off - HELD THAT:- As decided in assessee own case assessee has successfully discharged its onus and has fulfilled the conditions laid down U/S 36 of the Act. We, therefore, do not find any reason why the write off of bad debts should not be allowed. Appeal decided in favour of the assessee.
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