Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (5) TMI 484 - AT - Income TaxTP Adjustment - AMP purposes - existence of international transaction - HELD THAT:- TPO in the instant case has held that the AMP expenditure incurred by the assessee is international transaction. In the manufacturing segment, he computed an upward adjustment by disallowing 50% of the expenditure incurred on products which were sold within the domestic market as well as international market the details of which are already reproduced in the preceding paragraph. We find the Tribunal, following the above order [2019 (7) TMI 1620 - ITAT DELHI] has again deleted the addition on account of AMP expenditure. Since the issue stands decided in favour of the assessee by the decision of the Tribunal in assessee’s own case for the preceding assessment years i.e., A.Y. 2007-08 and 2008-09, therefore, we are of the considered opinion that no addition on account of AMP expenditure is warranted. Disallowance u/s 37(1) being 20% of the brand expenses - HELD THAT:- We find, the ld.CIT(A) deleted the addition by following the order of his predecessor for A.Y.s 2004-05 and 2005- 06 and the decision of the Hon’ble Delhi High Court in the case of Seagram Manufacturing (P) Ltd. (Now merged with the assesseee) [2015 (10) TMI 491 - DELHI HIGH COURT]. We do not find any infirmity in the order of the CIT(A) on this issue. We find identical issue had come up before the Tribunal in assessee’s own case for A.Y. 2007-08.
|