2015 (2) TMI 1337 - HC - Income Tax

TP Adjustment - notional interest in the determination of Arms Length Price - addition pertaining to variable license fees claimed by the assessee as revenue expenditure and mortized by the AO u/s 35ABB - Revenue urges that the deletion being the interest adjusted on account of interest determined to be payable at 17.26% p.a. instead of 7.33% p.a. is not justified - HELD THAT - This Court has today declined this question of law on the same ground for another Assessment Year 2007-08 2015 (2) TMI 1126 - DELHI HIGH COURT and for the said reason no question of law arises in this case too. This appeal shall be listed in the category of Regular Matters along with ITA above as per its turn.

Summary

The Delhi High Court admitted the case and identified three questions of law for consideration related to tax assessments. The court declined one question based on a previous ruling for another assessment year. The appeal will be listed for further proceedings.