TaxTMI 
TaxTMI 
2023 (7) TMI 457
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.... passed by Income Tax Appellate Tribunal, Delhi Bench 'I-2' New Delhi passed in ITA-475/Del/2015 for the assessment year 2010-2011. The case in brief is that the assessee filed the return of income on 29.09.2010 at an amount of Rs.10,02,94,349/-. The assessment was completed under Section 143 (3) of Act 1961 on 31.12.2014 at an income of Rs.14,52,23,420/- by making addition of Rs.4,49,29,075/- on the following accounts:- "i) Rs. 2,99,52,717/- made by the TPO by holding that the Arm's Length Price of International transaction related to the payment of management consultancy fee to its Associate Enterprises M/s Nippon Leakless Corporation Japan as Nil against Rs. 2,99,52,717/- claimed by the assessee. ii) Rs. 1,4....
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....akless, Japan amounting to Rs. 2,99,52,717/-. The TPO determined Arm's Length Price of International transaction related to the payment of management consultancy fee paid to its associate Nippon Leakless Corporation Japan as Nil against Rs. 2,99,52,717/- claimed by the assessee which was also confirmed by Dispute Resolution Panel. But in the present case, the assessee failed to prove that associate enterprise performed any such work for the assessee company. The assessee is also paying royalty charges to its associate enterprises and thus was not required to pay any amount for the same activity." ii) Whether on the facts and circumstances of the case the Hon'ble ITAT has erred in law and facts in applying the provisions of ....
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.... record copy of the orders passed by the Tribunal for the assessment year 2008- 09 and that of Transfer Pricing Officer including that of the Commissioner of Income Tax (A) passed in favour of the assessee (R-1 to R-5). A bare perusal of Annexure R-1 shows that the respondent/assessee filed its return of Income and reference was received from the Assessing Officer for determining the arm's length price under Section 92 A (3) in respect of international transaction entered into by the assessee during the financial year 2011-12. The major international transactions undertaken by assessee with its AE and during the financial year 2011-12 are as under:- Sr. No. International Transaction Amount Method 1. Purchase of raw mate....
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....the order of Assessing Officer passed under Section 143 (3) read with Section 144 C of the Income Tax Act by holding that the Transfer Pricing Officer for the Assessment year 2008-2009, 2009-2010 & 2011-2012 has accepted the transcation of payment of management fees paid to NLC by NLT and therefore the same having been made entirely for business consideration incurred wholly and exclusively for the purposes of business. Hence no addition was held to be sustainable for the assessment year 2010-2011. Similarly in respect of disallowance made under Section 40A (2) (b) on account of payment of administrative charges paid to TACL, the Tribunal recorded that the Assessing Officer had failed to discharge the onus as per the mandate of the provisio....