2012 (10) TMI 531

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....he facts and in the circumstances of the case and in law, the learned Assessing Officer ('AO') under directions issued by the Hon'ble Dispute Resolution Panel ('DRP'), erred in making an addition to the Appellant's total income of Rs. 67,239,828 based on the provisions of Chapter X of the I ncome-tax Act 1961, ('the Act'). 2 Assessment and reference to Transfer Pricing Officer ('TPO') are bad in law a) The final order issued by the AO, is bad on facts and in law, and is in violation of the principles of natural justice. Without prejudice to the above, the order issued by the AO is bad in law insofar as the fact that the AO did not issue to the Appellant, a show cause notice, as per proviso to section 92C(3) of the Income-tax Act, 1....

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....te the nature and extent of the architectural services received from its AEs with reference to functions performed, assets deployed and risks undertaken and the Appellant did not derive any commercial benefit from such services. d) On the facts and in the circumstances of the case and in law, the learned TPO erred in upholding/confirming the action of the TPO of disregarding the disregarding the economic/benchmarking analysis undertaken by the Appellant based on the contemporaneous data in the transfer pricing study report maintained as per section 92D of the Act read with Rule 10D of the Income-tax Rules, 1962 ('the Rules') and the various submissions made by the Appellant. e) On the facts and in the circumstances of the case and in ....

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.... separately. ii) Expenditure debited to the P & L A/c towards payment on account of services received from the AEs separately. iii) Complete details of the amounts outstanding in respect of both AEs with reference to nature of services received, project against which the amount is outstanding. iv) Complete details of amount debited at Rs.5,40,57,815/- to the P & L A/c under the head architectural consultancy and other direct expenses. v) Complete details of payments made to AEs towards consultancy services along with extract of bank account through which the funds are remitted outside. vi) Complete details of amounts receivable under the head sundry debtors at Rs.4,49,68,914/- with reference to project and clients from whom t....