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2015 (4) TMI 500 - ITAT HYDERABAD

2015 (4) TMI 500 - ITAT HYDERABAD - TMI - Transfer pricing adjustment - Deduction u/s 10A - Held that:- DRP in the case of the assessee has not decided this preliminary issue vide its order dated 21.11.2013 in spite of the fact that the same was specifically and separately raised by the assessee in the objections filed before the DRP. We, therefore, consider it fair and proper and in the interest of justice to set aside the impugned order passed by the A.O. under section 143(3) as per the direct .....

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e the same again if it fails to succeed on the preliminary issue before the DRP. - Matter remanded back - Decided in favour of assessee. - ITA.No.161/Hyd/2014 - Dated:- 11-3-2015 - SHRI P.M. JAGTAP AND SMT. ASHA VIJAYARAGHAVAN, JJ. For The Assessee : Mr. Kanchun Kaushal & Mr. Abhiroop Bhargav For The Revenue : Smt. G. Aparna Rao ORDER PER P.M. JAGTAP, A.M. This appeal filed by the assessee is directed against the Order of learned ACIT, Circle 1(2), Hyderabad (Assessing Officer) dated 05.12.2 .....

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to 01.04.2006 it was known as Conexant Systems (PB) P. Ltd., Pune. It was wholly owned subsidiary of Paxonet Systems Inc. USA and there were two other subsidiaries viz., Conexant Systems Noida P. Ltd., Noida and Conexant Systems India P. Ltd., Hyderabad. Pursuant to the scheme of amalgamation all these three companies got merged into one company having its registered office at Hyderabad. Prior to amalgamation, Conexant India (PB) Ltd., filed its return of income for the year under consideration .....

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of ₹ 1.88 crores was proposed by the A.O. in the draft assessment order dated 28.10.2010. The assessee approached the DRP raising various objections in respect of the draft assessment order proposed by the A.O. One of such objections raised by the assessee was that in the absence of notice under section 143(2) served by the A.O. on it within the statutory time limit, the entire assessment proceedings were void abinitio. The DRP found this objection of the assessee to be sustainable and dir .....

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case of the assessee was transferred to Hyderabad after the merger of all the three subsidiaries and a fresh reference was made by the A.O. i.e., ACIT, Circle (1), Hyderabad to the TPO for determining the arms length price of the international transactions of the assessee company with its AEs. Accordingly, the TPO vide his order dated 28.12.2012 passed under section 92CA(3) of the Act, determined the arms length price of the relevant international transactions of the assessee company with its A .....

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n 10A in respect of Pune unit and Bangalore unit respectively on account of reduction of communication charges from the export turnover. Against the draft assessment order dated 28.02.2013 proposed by the A.O. objections were again filed by the assessee before the DRP challenging the validity of the re-assessment proceedings as well as disputing the additions proposed by the A.O. on merit. The DRP considered the objections of the assessee only in respect of additions proposed by the A.O. on meri .....

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section 143(3) on 05.12.2013 making addition to the total income of the assessee only on account of T.P. adjustment. Aggrieved by the order of the A.O., the assessee has filed this appeal before the Tribunal. 3. We have heard the arguments of both the sides and also perused the material on record. In the grounds raised in this appeal, the assessee has challenged the validity of assessment made by the A.O. as well as the addition made therein on account of T.P. adjustment on merit. In respect of .....

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ssee s claim of deduction under section 10A to the extent of ₹ 3.17 crores. He has contended that no disallowance under section 10A however having been made by the A.O. in the final order as per the DRP direction and the reference made to the TPO in the original assessment proceedings itself being invalid as the said assessment proceedings were held to be void abinitio in the absence of service of notice under section 143(2) on the assessee within the statutory time limit, the reopening of .....

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