GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (7) TMI 1070 - ITAT AHMEDABAD

2015 (7) TMI 1070 - ITAT AHMEDABAD - TMI - Stay of demand - selection of the tested party for determination of ALP of the international transaction with AE - Held that:- Assessee has prima facie good case on merit. The colour of dispute would change, if the selection of the tested party for determination of ALP of the international transaction with AE is changed. No doubt in the order dated 25.3.2014, the learned AO while rejecting the application for stay of demand, moved under section 220 of t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of the appeal, whichever event occurs first;

(b) The assessee shall pay sum of ₹ 1,00,00,000/- (Rupees One Crore) on or before 30th August, 2015.

(c) The assessee shall submit all necessary paper books before the date of hearing in the appeal.

(d) The assessee shall not seek adjournment unless unavoidable circumstance warrants so. - Stay Petition No.76/Ahd/2015 IN ITA No.793/Ahd/2014 - Dated:- 20-7-2015 - SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER AND SHRI RAJPAL .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

was selected for scrutiny assessment. The international transactions entered into by the assessee with its associated enterprise ( AE for short) were referred to the Transfer Pricing Officer under section 92CA(3) of the Income Tax Act for computation of Arm s Length Price ( ALP for short). 3. The ld. TPO had passed an order under section 92CA(3) of the Act on 29.1.2013. A draft assessment order was served upon the assessee. The assessee had filed objection before the ld.DRP, and ultimately, the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

4/- TOTAL INOCME (rounded off) Rs.105,23,58,650/- Assessed u/s.143(3) r.w.s. 144C r.w.s. 92CA(3)of the Income Tax Act. Calculate Tax charge interest u/s.234A, 234B, 234C and 234D as applicable. Give credit of pre-paid taxes after due verification. Issue demand notice & challan accordingly. Issue notice u/s.274 r.w.s. 271(1)(c) of the Act. Sd/- Y.P.Verma) Jt. Commissioner of Income Tax |Panchamahal Range, Godhra. 4. The ld. Counsel for the assessee submitted that the AO has raised demand of & .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e cars manufactured by the assessee to effectively meet the after-sale service needs of its customers. The assessee also imports spare parts and accessories from its AE, in addition to local procurement, for their resale in India. The assessee has selected, GMDAT (General Motors Daewoo & Auto Technology Ltd.) as a tested party, but this stand of the assessee was rejected by the AO. According to the learned counsel or the assessee, if the GMDAT is selected as a tested party, then the major de .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d in the foregoing paragraphs, in consonance with the case laws quoted (supra) and also the United Nation s Practical Manual on transfer pricing, we direct the AO to adopt GMDAT as the tested party for analyzing the inter-company transactions of the assessee for both the AYs under consideration. To facilitate the TPO to analyze the inter-company transactions in the case of the assessee for selecting GMDAT as tested party as directed above, this issue is restored o the files of the TPO. It is ord .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version