2018 (6) TMI 1583

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..... sain, Sr.Standing Counsel with Mr.Deepak Anand, Jr.Standing Counsel for Revenue. ORDER Admit. The following two questions of law are framed for consideration:- "1. Did the Income Tax Appellate Tribunal (ITAT) fall into error in upholding the disallowance of the depreciation claimed to the extent of Rs. 5,10,79,752/- on account of asset reconstruction cost in holding that it was a contingent li .....

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..... s. At the relevant time, it sought to install cell-site towers claiming that they would merely improve its efficiency. The lower authorities discerned that materials on record clearly show that the object of such exercise was to reach the greater number of customers and thus increase subscriber base. In these circumstances, the finding of the lower authorities cannot be faulted. No substantial que .....

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..... consider the transactions involving AMP expenditure as well as the issue of royalty. In this regard its observations with respect to the comparables used by the assessee vis-a-vis the two foreign parties shall not be treated conclusive. The ITAT shall carry out necessary inquiry if need be by resorting to a limited remand to the TPO or DRP as the case may be having regard to the overall facts and .....

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