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2020 (9) TMI 819 - AT - Income TaxTP Adjustment - comparable selection - HELD THAT:- Companies functionally dissimilar with that of assessee need to be deselected which provides IT services such as maintenance of software, management of servers, provision of technical support, documentation of software code and ITES service and Back Office services such as quality assurance, vendor management and investor relationship, etc. Disallowance of employee contribution of PF and ESI - HELD THAT:- We notice that in favour of assessee in Hindustan Organics Chemical Ltd. [2014 (7) TMI 477 - BOMBAY HIGH COURT] AND CIT vrs. Ghatge Patil Transports Ltd. [2014 (10) TMI 402 - BOMBAY HIGH COURT] Following the Vegetable product [1973 (1) TMI 1 - SUPREME COURT] we are inclined to follow the jurisdictional High Court decision. Accordingly, the grounds raised by the assessee are allowed. Application u/s 154 before AO as substantial carry forward losses and unabsorbed depreciation, which the AO has not disposed off yet - Following the decision of the coordinate bench in the AY 2012-13, the bench gave the direction to AO to dispose off the application as per law. Similarly, we are directing the AO to consider the submissions of the assessee and remitting this issue to his file to pass the rectification application as per law. Accordingly ground raised by the assessee is allowed for statistical purpose.
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