TaxTMI 
TaxTMI 
2014 (1) TMI 1445
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....ent software Rs.8,01,70,000 2. Loan Rs.4,97,97,000 2. The assessee-company had taken the ALP of the interest on the loan transaction at Rs.14% p.a. on monthly closing balances and the TPO arrived at Rs.69.71 lakhs (on Rs.4,97,97,000 @ 14% ). The Assessing Officer forwarded a draft assessment order to the tax payer. The tax payer had approached the Dispute Resolution Panel (in short "DRP"), Hyderabad vide Form No. 35A, filed on 4.2.2010. In response to the reference, The DRP issued a notice of opportunity and an opportunity to represent was given to the tax payer, the Assessing Officer and the TPO. The case was posted for hearing on 22.9.2010. However, on the request of the A.R. of the assessee the case was preponed and was heard on 20.....
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.... appeal under the provisions of Rule 29 of the Appellate Tribunal Rules, 1963. In the case of Abhay Kumar Shroff 63 ITD 144 it has been held as follows : "It was that the assessee as a matter of right could not file or filed them before the Tribunal as a matter of course. If the assessee produces some documents at the appropriate time, they have to be taken into consideration subject of course to all just exceptions, such as their relevance, etc., If not done at the assessment stage, the admission of documents has to be governed by Rule 46A of the I.T. Rules, 1962, if produced for the first time before the first appellate authority. Having missed the bus and the matter having travelled to the Tribunal, the admission of documents is to be g....
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....er amount disallowed will be increase in exemption and hence the disallowance will have no impact." 7. We find that the ground Nos. 2 and 3 are covered by decision of the Coordinate Bench of the Tribunal in the case of DCIT vs. Planet Online Private Limited in their order dated 29-8-2008 passed in ITA No.1016/Hyd/2007 for the assessment year 2004-05. What was to be excluded in terms of S.10A is 'expenses if any, incurred in foreign exchange in providing the technical services outside India'. Contention of the assessee, right from the beginning, has been that the assessee company's directors or employees visit customers abroad, to study the systems and understand their requirements, and it is only after such a study, software development is....