TaxTMI 
TaxTMI 
2017 (11) TMI 1551
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....t order dated 29.12.2011 passed by learned Assessing Officer (hereinafter called "the AO") u/s 143(3) of the Income-tax Act, 1961 (hereinafter called "the Act"). 2. The grounds of appeal raised by the assessee in the memo of appeal filed with the Income-Tax Appellate Tribunal, Mumbai (hereinafter called "the tribunal") read as under:- "The appellant objects to the appellate order dated 25 April 2013 passed by the Commissioner of Income tax (Appeals) - 15, Mumbai ['learned CIT(A)'] under section 250 of the Income Tax Act, 1961 ('the Act') and received on 6 May 2013 for the aforesaid assessment year on the following grounds: 1. Erroneous upward adjustment of INR 132,882,442 to the arm's length price determined by the....
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....earned AO has selected comparables with high related party transactions, which is against the well accepted norms of comparability as stipulated by OECD. 3.3 The learned AO / learned CIT(A) erred in not considering the adjustment for capacity utilisation with that of the comparables which is against the well accepted norms of comparability as stipulated by OECD. 4. Others 4.1 The learned AO / learned CIT(A) has erred in not appreciating the evidence in support of most appropriate methods adopted by the appellant and disregarding the arm's length price as determined by the appellant in accordance with the provisions of the Act, read with the Rules. 4.2 Without prejudice to the aforesaid grounds, the learned AO / learned CIT(A....
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....circumstances of the case and in law, the AO erred in not making a reference to the Transfer Pricing Officer (TPO) u/s. 92CA of the Act. The appellant craves leave to add, to amend, alter, vary, omit or substitute the aforesaid grounds of appeal or add a new grounds or grounds of appeal at any time before or at the time of hearing of the appeal as they may be advised." The learned counsel for the assessee prayed that additional grounds raised by the assessee are legal grounds which does not require any investigation of new facts which are not part of the record before the tribunal and goes to the root of the matter and should be admitted in the interest of substantial justice. The learned CIT-DR did not raise any objection to the admis....
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....need to be set aside and restored to the file of the A.O for denovo determination of the issue on merits in accordance with law which will sub-serve the interest of justice . Ld. CIT-DR on the other hand submitted that several opportunities were given to the assessee by the AO vide notices issued u/s. 143(2) dated 06.09.2010 along with notice u/s. 142(1) dated 06.09.2010 and also further notices dated 02.02.2011 and 19.07.2011 were also issued but the assessee did not co-operated with the AO and dragged the matter to the last stage when the assessment was getting time barred. The learned CIT-DR drew our attention to the various notices which are placed in paper book/ page no. 34 to 42 and it was submitted that detailed questionnaire were i....
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....rt have remanded the matter back to the file of the A.O for fresh disposal. Our attention was also drawn to the notices issued dated 08.12.2011 by the AO wherein the questionnaire was issued by the AO regarding transactions with Associated Enterprises(AE's) based upon Form no. 3CEB and the matter was not referred to TPO. The assessee submitted that assessee duly replied to this notice dated 08.12.2011 vide reply dated 16.12.2011. It was conceded by the Ld. Counsel for the assessee that fault lies at the both hands i.e. assessee as well Revenue and the best course of action under these circumstances shall be to restore the matter back to the file of the A.O for denovo determination of the issues by the A.O. on merits in accordance with law, ....
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....eriod for framing assessment wherein the assessment was getting time barred on 31-12-2011. The AO finally issued questionnaire dated 08.12.2011 w.r.t. transactions with AE as are reported in form no. 3CEB which was at the fag-end when the matter was getting time-barred on 31.12.2011 . The assessee has duly replied to the notices vide reply dated 16.12.2011. The AO did not made any reference to TPO which is a mandatory requirement, however while making additions, the AO has drawn references from TPO order for AY 2007-08 for making TP additions . During first appellate stage, the assessee conceded that the ground challenging the framing of assessment without taking recourse to prescribed procedure as is raised before learned CIT(A) is general....