Appellate Tribunal overturns Assessing Officer's order, remits transfer pricing issue for fresh decision. The Appellate Tribunal ITAT Delhi set aside the final order issued by the Assessing Officer for A.Y. 2009-10, finding similarities with the appeal for ...
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Appellate Tribunal overturns Assessing Officer's order, remits transfer pricing issue for fresh decision.
The Appellate Tribunal ITAT Delhi set aside the final order issued by the Assessing Officer for A.Y. 2009-10, finding similarities with the appeal for A.Y. 2008-09 regarding Transfer Pricing Adjustment and taxability of various services. The Tribunal remitted the matter to the Assessing Officer/Transfer Pricing Officer for a fresh decision following specific directions given for A.Y. 2008-09. The appeal was partly allowed for statistical purposes, granting the assessee a reasonable opportunity to be heard. The order was pronounced on 02/04/2014.
Issues: Appeal against final order passed by Assessing Officer u/s 143(3) r.w.s. 144C(13) for A.Y. 2009-10; Similarity of issues with the appeal for A.Y. 2008-09; Transfer Pricing Adjustment; Taxability of income from off-shore supply of equipments, on-shore equipments, on-shore services, design and engineering services.
Analysis: The appeal before the Appellate Tribunal ITAT Delhi was against the final order issued by the Assessing Officer for the assessment year 2009-10. The issues raised in this appeal were found to be similar to those in the preceding year's appeal for A.Y. 2008-09. The Tribunal had previously passed an order for the A.Y. 2008-09, addressing various aspects such as taxability of income from off-shore supply of equipments, on-shore equipments, on-shore services, and design and engineering services, along with the issue of Transfer Pricing Adjustment. The Tribunal had sent these issues back to the Assessing Officer/Transfer Pricing Officer for a fresh decision in line with specific directions provided. Both parties agreed that the facts and grounds of the current appeal were similar to the previous year. Consequently, the Tribunal set aside the impugned order and remitted the matter to the AO/TPO for a fresh decision in accordance with the directions given for A.Y. 2008-09. The assessee was granted a reasonable opportunity to be heard in this process. The appeal was partly allowed for statistical purposes, and the order was pronounced in open court on 02/04/2014.
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