2015 (3) TMI 1271

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....B. Ramakotaiah (Accountant Member) These two are cross appeals by assessee and revenue against the orders of A.O. under section 143 read with section 144C(v) consequent to the directions of DRP, Hyderabad dated 29.11.2013. 2. Briefly stated, assessee is a joint venture company between Aspen Pharmacare Limited, South Africa and Matrix Laboratories Ltd., India. Assessee specializes in the manufact....

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.... order further disallowed depreciation of Rs. 12,95,97,152 claimed on technical knowhow based on the orders pertaining to A.Y. 2006-07. Assessee objected before the DRP that the disallowance of management fee cannot be considered under T.P. provisions as it is a domestic transaction and further with reference to depreciation the issue was pending before the ITAT and requested for keeping tax deman....

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....ch assessee has claimed depreciation on WDV. In view of this, we direct the A.O. to allow the depreciation as claimed as it is only a consequential claim to the claims in earlier years. 4. Coming to the Revenue's appeal, as seen from the orders of the authorities, the TPO vide his show cause notice dated 22.10.2012 has stated that the transactions entered into by Astrix and Matrix are deemed inte....

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..... Swarnandhra IJMII Integrated Township Development P. Ltd., vs. DCIT, Circle 3(3), Hyderabad in ITA.No.2072/Hyd/2011. Since the TPO does not have any jurisdiction to examine the domestic transactions in the impugned assessment year, the DRP has rightly held that stand of the TPO fails. Since the decision of the DRP is in tune with the pronouncements of the ITAT on similar issues that domestic tra....