TaxTMI 
TaxTMI 
2017 (12) TMI 1627
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....'the Act') for assessment year 2005-06. In ITA No. 2254/PUN/2014, the assessee has assailed the assessment order dated 30.10.2014 passed u/s. 143(3) r.w.s 147 & 144C(13) of the Act for assessment year 2006- 07. In ITA No. 2255/PUN/2014, the assessee has assailed the assessment order dated 30.10.2014 passed u/s. 143(3) r.w.s 147 & 144C (13) of the Act for assessment year 2007-08. Since the issues involved in all the three appeals are similar, these three appeals are taken up together for adjudication. 2. Shri Saubhagya Agarwal & Shri Darpan Kirpalani appearing on behalf of the assessee submitted at the outset that assessee has entered into Advance Pricing Agreement (APA) with Central Board of Direct Taxes (CBDT) on 22nd January, 2016. The....
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....0 were similar to the transactions entered during the assessment years 2010-11 to 2015-16 by the assessee. The terms and conditions of APA can be followed only, if, after verification TPO is satisfied that international transactions in assessment year under appeal are similar in nature. 4. We have heard the submissions made by representatives of rival sides and have also considered the APA executed by assessee with CBDT on 22.01.2016 and the order of Co-ordinate Bench of the Tribunal in assessee's own appeal in ITA No. 139/PN/2014 (supra). On perusal of order of TPO, we find that the assessee has entered into following international transactions with its Associated Enterprises (AE) during the assessment years under appeal : Assessment....
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....espective assessment years as under : The assessee in appeal before the Tribunal has assailed application of internal CUP as well as computation of ALP under internal Cost Plus Method. Assessment year Adjustments 2005-06 Rs. 4,30,96,040/- 2006-07 Rs.4,80,82,007/- 2007-08 Rs.5,69,68,540/- 5. In the light of fact that assessee has entered into APA, the Coordinate Bench of the Tribunal in the assessment year 2009-10 has directed Assessing Officer to decide the issue in accordance with the terms and conditions of APA as nature of transactions are similar. The relevant extract of findings of the Tribunal on this issue are as under: "8. The perusal of grounds of appeal reflects that the assessee is....
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....o restore this issue also back to the file of Assessing Officer, who shall consider the plea of assessee and shall after obtaining report from the TPO in this regard, decide the issue in accordance with law. Reasonable opportunity of being heard shall be afforded to the assessee while deciding the issue. The grounds of appeal raised by the assessee are thus, allowed. In respect of the balance additions, no specific ground of appeal has been raised nor any arguments have been made by the learned Authorized Representative for the assessee, hence the same are not disturbed." In view of the facts discussed above, we are of considered opinion that it would be just and proper to restore these issues to the file of Assessing Officer with simila....