TMI Blog2022 (2) TMI 1085X X X X Extracts X X X X X X X X Extracts X X X X ..... by the CIT(A) deleting the disallowance made by the Assessing Officer under section 40(a)(ia) of the Act is affirmed. - Decided in favour of assessee. - ITA Nos. 2837/Mum./2015 & 2635/Mum./2015 - - - Dated:- 16-2-2022 - SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Assessee by : Shri Ajit Jain, a/w Shri Siddhesh Chaugule Revenue by : Shri Tejinder Pal Singh ORDER Per Sandeep Singh Karhail, JM The aforesaid cross appeals have been filed by either parties challenging the impugned order dated 12th February 2015, passed by the Commissioner of Income Tax (Appeals)-57, Mumbai, under section 250 of the Income-tax Act, 1961 (hereinafter referred to as the Act ) for the assessment year 2009-10. ITA No. 2837/Mum./2015 Assessee's Appeal- A.Y. 2009-10 2. At the outset, Shri Ajit Jain, learned Authorised Representative (hereinafter referred to as the learned A.R. ), appearing for the assessee submitted that the assessee, vide letter dated 27th January 2022, filed before the Tribunal has prayed for withdrawal of its appeal being ITA No. 2837/Mum./2015, for the assessment year 2009-10, as the assessee ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ALP as per TPO 212574000 ALP as per TPO (US related) 191240643 Adjustment 10879000 Adjustment (US related) 9787213 Margin as determined by India CA 18.87% ALP as per Indian CA 201695000 ALP as per India CA (US related) 181453430 Adjustment as per India CA (US related) 0 Relief to be provided by Indian CA (US related) 9787213 4. As per rule 44G(7) of the Rules, you are requested to communicate your acceptance or non- acceptance of the above resolution in writing to the Competent Authority in India. Further, the said acceptance shall be communicated within thirty days of receipt of this communication under sub-rule (6) of rule 44G. 5. In case of acceptance of the above resolution, you are requested to enclose with it the proof of withdrawal of appeal, if any, pending on the transaction that is the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... velling, communication, rent, etc., are charged back to the assessee on pure cost-to-cost basis. As a result, the assessee had paid ₹ 4,38,34,699 and ₹ 6,62,222 (totalling to ₹ 4,44,96,921) as reimbursement of expenses to I-Flex Solution Ltd. (India) and Equinox Global Services Ltd., respectively, during the year under consideration. The details of aforesaid payment are as under:- Sr. no. Particulars Equinox Global Services Ltd. I Flex Solutions Ltd. 1. Salary 33354391 2. Communication 4122718 3. Travelling expenses 661827 2796607 4. Rent 818752 5. Professional Fees 780953 6. Other Expenses (Repairs maintenances, employee welfare, station ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer and prayed that the same be upheld on the issue of disallowance under section 40(a)(ia) of the Act. 13. On the other hand, the learned A.R. submitted that the issue arising in Revenue's appeal has been decided by the Co-ordinate Bench of the Tribunal in assessee's own case for assessment year 2010-11, wherein the Tribunal has upheld the deletion of disallowance under section 40(a)(ia) of the Act. 14. We have considered the rival submissions and perused the relevant material available on record. We find that on identical issue the Co- ordinate Bench of the Tribunal in assessee's own case vide order dated 24th January 2018, passed in ACIT v/s Oracle (OFSS) Processing Services Pvt. Ltd., ITA No. 7325/Mum./2015, for the assessment year 2010-11, dismissed the Revenue's appeal by observing as under:- 6. We have heard rival contentions and perused the material available on record. At the outset, it needs to be observed, the subject matter of dispute in ground no. 1 is restricted to the disallowance under section 40(a)(ia) of the Act of the following payments made by the assessee. Oracle Financial Services Software Ltd., India - ₹ 22,91,773 Orac ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
