2019 (3) TMI 1247

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....nt : Sh.S.K.Agarwal, FCA ORDER PER 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 ....

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.... the AO is deleted.. The relevant finding of the 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: ....

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....same is restricted only to the additions and reductions as 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 adj....

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....n of Explanation (1) to section 115JB of the Act, we find as rightly 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 th....