2017 (12) TMI 1627

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....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 said agreement pertains to five consecuti....

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....g 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 year Details of Transactions Value of the Transac....

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....nal 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 in appeal on account of transfer pricing adjustment made in the hands of assessee. No other grounds of app....