2020 (10) TMI 1358

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....MT. BEENA PILLAI, JUDICIAL MEMBER For the Assessee : Shri Chavali Narayan, C.A For the Revenue : Shri Muzaffar Hussain, CIT (DR) ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present cross appeals has been filed by assessee as well as revenue against final assessment order dated 29/01/2016 passed by Ld. AO under section 143 (3) read with section 144C (13) of the Act, on following grounds of appeal: ITA No.584/Bang/2016 Based on the facts and circumstances of the case and in law, NTT DATA Global Delivery Services Private Limited [successor of NTT DATA India Enterprise Application Services Private Limited] ('the Appellant") respectfully craves leave to prefer an appeal under section 253 of the Income-tax Act, 19....

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....ction to hold that the same is not at arm's length. 5. The learned AO/ TPO erred, in law and in facts, by determining the arm's length margin/ price using only FY 2010-11 data which was not available to the Appellant at the time of complying with the transfer pricing documentation requirements; 6. The learned AO! TPO erred, in law and in facts, by rejecting the supplementary/ alternate economic analysis using internal TNMM as submitted by the Appellant; 7. The learned AG! TPO erred in rejecting certain comparable companies by applying the following quantitative and qualitative filters: (a) The learned AO/ TPO erred, in law and in facts, by rejecting certain comparable companies identified by the A....

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....s-à-vis the comparables, while conducting comparability analysis; 12. The learned AG/TPO erred, in law and in facts, by computing the arm's length price without giving benefit of +1- 5 percent under the proviso to section 920 of the Act; (III) Corporate tax grounds 13. Disallowance of interest and late payment fee of professional tax and service tax amounting to INR 22,750 and INR 226,302 respectively, totalling to INR 249,052 13.1. The learned AG has erred, in law and in facts, by disallowing the amount paid towards interest and late payment of professional tax and service tax amounting to INR 22,750 and INR 226,302 respectively, totalling to INR 249;052 by considering the same as penal in nat....

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....ng the submissions made by the Appellant and appreciating the fact that the disallowance has wrongfully resulted in the same amount being disallowed twice and hence is not as in accordance with the principles of natural justice. (IV) Other grounds 16. The learned AO has erred in law and facts, in not granting deduction eligible under Chapter VI-A of the Act of INR 360,733 as claimed by the Appellant in its Return of Income. 17. The learned AO has erred in law and facts, by restricting credit towards tax deducted at source ('TDS") and advance tax to an aggregate amount of INR 58,999,914 as against INR 71 896,342 claimed by the Appellant in its Return of Income resulting into reduction of TDS and advance tax cla....

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....grounds that may be urged upon, direction of the Dispute Resolution Panel may be reversed and that assessment order be restored. 4. The appellant craves leave to add, alter, amend or delete any other grounds on or before hearing of the appeal." 2. At the outset Ld.AR submitted that assessee has sought to resolve transfer prising issues arising out of international transactions undertaken with U.S. associated enterprises vide MAP resolution entered between respective competent authorities dated 01/06/2020. Communication of resolution of dispute under MAP with USA is placed as Annexure 1 to letter dated 24/09/2020 filed by assessee before this Tribunal. Ld.AR submitted that, in view of MAP resolution, assessee wishes to withdraw g....