2019 (3) TMI 1247

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....S.S. VISWANETHRA RAVI, JUDICIAL MEMBER Both these appeals filed by the Revenue against the order dated 28.07.2017 passed by CIT(A)-22, Kolkata u/s 143(3) of the Income Tax Act, 1961 (in short "Act") for AYs 2009-10 & 2011-12. ITA No.2025/KOL/2017 (ASSESSMENT YEAR-2009-10) 2. Heard both parties and perused the material available on record. It is noted that the AO initially completed the assessm....

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....CIT(A) is reproduced herein below:- 7. "Similarly, on an identical issue the Hon'ble ITAT, Hyderabad "B"- Bench in the case of Berkadia Services India Ltd Vs Deputy Commissioner of Income Tax, Circle-1(3),Hyderabad by their order dated 19th September, 2014, reported in [2014] 50 taxmann.com 455 (Hyderabad - Trib.), adjudicated as follows: 18. As regards the issue involved in ground No.10 re....

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.... provided in Explanation to S.115JB, Since the adjustments so provided in the Explanation to S.115JB do not include the addition on account of TP adjustments, we respectfully follow the decision of the Supreme Court in the case of Apollo Tyres Ltd. (supra) to hold that the addition made by the Assessing Officer on account of TP adjustment while determining the book profit of the assessee company....

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....held by the CIT(A) that there was no clause specified in respect of upward adjustment of international transaction. 4. Regarding the decision in Berkadia Services India Pvt.Ltd. vs DCIT [2014] 50 taxmann.com 455 (Hyd.-Trib.) as relied by the CIT(A) in its order that the CO-ordinate Bench of Hyderabad Tribunal held that when the income having been finally assessed by the AO as per the normal provi....