2014 (7) TMI 1226 - HC - Income Tax

The following substantial questions of law are framed 1.Whether the Income Tax Appellate Tribunal was right in dis- allowing the claim under Section 80IA of the Income Tax Act 1961 for violation of sub section (8). 2. Whether the Income Tax Appellate Tribunal was right in holding that the Transactional Net Marginal Method should not be applied and Comparable Uncontrolled Price Method was the most appropriate method to compute ancillary price for purchase of spare parts and components from the related party. Filing of the printed paper book is dispensed with. However parties are given liberty to file documents/papers in terms of the High Court Rules.

Summary

The Delhi High Court admitted the case and framed two substantial questions of law regarding the disallowance of a claim under Section 80IA of the Income Tax Act and the appropriate method for computing ancillary price for purchase of spare parts. The filing of the printed paper book was dispensed with, but parties were allowed to file documents as per High Court Rules.