Tribunal overturns Transfer Pricing Adjustment, remits for fresh consideration. Leave Encashment addition dismissed.

The Tribunal set aside the Transfer Pricing Adjustment made by the Assessing Officer and remitted the matter back for fresh consideration based on the Tribunal's directions in the assessee's previous case. The addition towards Leave Encashment was dismissed as "not pressed," resulting in the partial allowance of the appeal for statistical purposes.

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Issues:
1. Transfer Pricing Adjustment
2. Addition of Leave Encashment

Transfer Pricing Adjustment:
The appeal was against the final assessment order for the assessment year 2014-15, where the Assessing Officer (AO) made an addition of Rs.13,74,20,445 on account of Transfer Pricing Adjustment. The assessee, a joint venture company, filed its return declaring total income, including certain international transactions. The Transfer Pricing Officer (TPO) determined the Arm's Length Price (ALP) using the Comparable Uncontrolled Price (CUP) method, resulting in a NIL ALP for the transaction of "Payment of fees for Advisory and other services." The Dispute Resolution Panel (DRP) upheld the adjustment proposed by the AO. However, the Tribunal, based on its previous orders, set aside the impugned order and remitted the matter back to the AO/TPO for fresh consideration in accordance with the Tribunal's directions in the assessee's own case for earlier assessment years.

Addition of Leave Encashment:
The appeal also included an issue regarding the addition of Rs.40,33,460 towards Leave Encashment. The ld. AR did not press Ground No.4 related to this addition, leading to its dismissal as "not pressed." Consequently, the appeal was partly allowed for statistical purposes. The Tribunal pronounced the order on 14th February 2019.

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