2018 (11) TMI 554
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....Mumbai(for short 'DRP'), dated 30.01.2015 has raised before us the following grounds of appeal : "1. On the facts and in the circumstances of the case and in law, the Dispute Resolution Panel erred in deleting adjustment of Rs. 5,49,05,677/- on account of intra-group services as the assessee did not furnish any evidence in respect of services having been rendered and passing non speaking order. 2. The appellant craves leave to add, amend, vary, omit or substitute any of the aforesaid grounds of appeal at any time before or at the time of hearing of the appeal. 3. The appellant prays that the order of the CIT(A) on the above ground be setaside and that of the assessing officer be restored." 2. Briefly stated, the assessee company w....
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....he 'Book profit' under Sec. 115JB at Rs. 36,55,75,196/-. 5. The revenue being aggrieved with the order passed by the A.O under Sec. 143(3) r.w.s 144C(13) has carried the matter in appeal before us. Further, the assessee is also before us as a cross-objector. The ld. Authorised representative (for short 'A.R') for the assessee Shri. Jehangir D. Mistri, Senior counsel, at the very outset submitted that the assessee had as on 07.05.2018 entered into an unilateral Advance Pricing Agreement (for short 'APA') with the Central Board of Direct Taxes (for short "CBDT") (Copy placed on record). The ld. A.R drew our attention to Appendix-1- Para 1(b)(ii) of the 'APA' (Page 11-12 of the agreement). It was submitted by the ld. A.R, that as per the 'APA....
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....bts emerging therefrom, the ld. A.R drew our attention to Page 5 - Para 5.2 of the order passed by the DRP wherein the total payment made by the assessee to its AE for the provision of the management services was stated to be Rs. 8,22,38,141/-. The ld. Departmental representative (for short 'D.R') submitted that the appeal of the revenue be treated as withdrawn, subject to the verification of the facts by the A.O. 7. We have heard the authorised representatives of both the parties, perused the orders of the lower authorities and the APA, dated 07.05.2018. We find that the APA covers the year under consideration i.e previous year 2009-10 on the issue of determining of the arms length price of the management services availed by the assessee ....
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....failed to comply with the said directions. Per contra, the ld. D.R did not controvert the said contention raised by the ld. counsel for the assessee. 11. We have heard the authorised representatives of both the parties, perused the orders of the lower authorities and the material available on record. In the course of the proceedings before the DRP the assessee had sought depreciation on the written down value of the market research expenses. It was submitted by the assessee before the DRP that in the immediately preceding year i.e A.Y 2009-10 depreciation was allowed on the amount of the market research expenses of Rs. 23,50,000/- by treating the same as a capital asset. We find that the DRP observed that the claim of the assessee that it ....