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2023 (8) TMI 809 - ITAT PUNETP Adjustment - ALP of the services provided by the AE (China) to the assessee - eligibility of benefit test - TPO deciding the value of the services at Rs. Nil. - TPO held that assessee has not furnished any evidence regarding the services availed - AR pleaded that assessee has established receipt of services and also established that it was benchmarked using TNMM. Once TPO has accepted assessee’s TNMM result, TPO cannot take out one single transaction and separately benchmarked. HELD THAT:- The entire thrust of TPO was that assessee failed to provide necessary evidence that assessee had received intra group services. However, once the ACIT(IT), Circle-1, Pune has held that Benteler Automotive (China) Investment Ltd., had provided services, the finding of TPO that no services were received becomes erroneous. Therefore, the adjustment made by the TPO on the basis that no services were received becomes erroneous. Hence, TPO is directed to delete the adjustment - Decided in favour of assessee. Short credit of MAT - Assessee has submitted that he has already filed rectification application before the AO but AO has not acted on it - HELD THAT:- We direct the AO to verify the assessee’s claim of short credit of MAT. The AO shall give opportunity to the assessee before deciding the same.
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