2016 (6) TMI 1350

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....tion 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 8th March, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order relates to the Assessment Year 200203. 2. The learned counsel for the Revenue urges the following questions of law for our consideration : "(i) Whether on the facts and circumstances of the case and in law, the Tribuna....

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.... without appreciating the fact that in computing the arm's length price, it is not only the cost base, but also loss of probable income that should be considered while determining the ALP of the parties involved and therefore, interest was rightly included by the TPO in the cost because if the assessee company had applied its funds elsewhere, instead of giving interest free deposit, it would h....

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..... Ltd. doing the clinical trial activity on its own. In fact, before the Tribunal it was the Revenue's submission as recorded in paragraph 16 of the impugned order that the issue be sent back to the Assessing Officer to make adjustment in view of the difference in the business model between M/s. Siro Clinpharm Pvt. Ltd. and the respondent - assessee. Therefore, we are unable to understand how ....

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....subsequent assessment year, namely, assessment year 2003-04 the Commissioner of Income Tax (Appeals) [CIT (A)], decided this very issue in favour of the respondent-assessee. The Revenue has accepted the above order of CIT (A) and not challenged it before the Tribunal. In the above view, as the Revenue is not pressing question no.(ii), no substantial question of law for our consideration cannot ari....