2023 (8) TMI 291

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....neral Ground 1. That the Learned Commissioner of Income-tax (Appeal) (Ld. CIT (AY) has grossly erred on facts and in law in passing the impugned order on an ex-parte basis without providing adequate opportunity of being heard to the Appellant. To this extent, the order passed is against the principles of natural justice and liable to be quashed. Transfer Pricing Grounds 2 The Learned Assessing Officer (Ld AO) (along with the Learned Transfer Pricing Officer (Ld TPO)-under reference from the Ld AO) and Ld. CIT(A) has erred on facts and in law in making an addition of INR 2,28,49,247/- to the returned income of the Appellant. A. Provision of 'Technical Services' and 'Availing of Sub-Consultancy ....

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....Archohm Consultants Pvt. Ltd.; • Kitco Ltd,; and • S S Infrastructure Devp. Consultants Lid. 7. The Le AO/Ld. TPOL CITIA) grossly erred on facts and in saw by not computing the quant of transfer pricing addition on the value of international transaction, which stood at INR 27,29.08,356. 8. The Ld. AO/Ld. TPO/ Ld CIT(A) grossly erred on facts and in law by not appreciating the peculiar nature of transaction with associated enterprises viz. EINTL- EI JV (PRAMC) and EINTL- AARVEE-EI JV, which are Special Purpose Vehicle (Association of Persons (AOPs) and has no functional asset or risk profile. While doing so, the Ld AOI/Ld. TPO/ Ld CIT(A) grossly erred in not acknowledging that: a. These AO....

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....e facts by applying SBI rate for imputing interest on outstanding receivables whereas the Appellant primarily transact in foreign currency with the AES. 15. The Ld AO/ Ld TPO/ Ld CIT(A) grossly erred on facts and in law in not acknowledging the application/ availability of Comparable Uncontrolled Price Method for benchmarking the alleged International transaction "outstanding receivables". 16. The Ld AO/Ld TPO/ Ld CIT(A) grossly erred on facts and in law by not appreciating the peculiar nature of transaction with associated enterprises viz EINTL EI JV (PRAMC) and EINTL AARVEE-EI JV, which are Special Purpose Vehicle? Association of Persons (AOPs) and has no functional asset or risk profile. While doing so, the Ld AO/ Ld TP....

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....ollowing international transactions:- S. No. Type of international transaction Method selected Total value of transaction (Rs.) MAM PLI 1. Provision of Technical services TNMN OP/OR 3,06,01,583 2. Availing of Sub- Consultancy Services TNMM OP/OR 24.05.58,400 3. Payment Of Rent & Maintenance Charges CUP - 873980 4. Payment Of Finance & Administration Charges CUP - 17.48,423 5. Bank Guarantee Other Method - - 6. Reimbursement of Expenses TNMM OP/OC 4,09,39,634 5. The Ld. Assessing Officer ("AO") referred the case to Ld. Transfer Pricing Officer ("TPO") who passed an order on 28.10.2019 under section 92CA(3) of the Income Tax Act, 196....

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....n, an authorised signatory of the assessee company on 06.04.2023 has been filed before us which is kept on record. He has deposed therein that the hearing notices issued by the Ld. CIT(A) were not received by the assessee in its office; that the e-mail address to which notices were sent belonged to Mr. Gaurav Sharma who had left the company w.e.f. 27.08.2021 and notices, if any, sent to his e-mail did not reach the concerned officials of the assessee; that non-compliance was not deliberate. The Ld. AR further submitted that the appeal has not been decided on merits by the Ld. CIT(A). He therefore, urged that the matter may be sent back to Ld. CIT(A) for rehearing and disposal. 9. The Ld. DR vehemently opposed and submitted a bunch of not....