2021 (10) TMI 1453

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....ange-4, Ahmedabad under Section 143(3) r.w.s. 144C of the Income Tax Act, 1961 (hereinafter referred as to "the Act") for A.Y. 2007-08. The assessee has also filed a Cross Objection against the said appeal. The Revenue raised the following grounds:- "1. The Ld. CIT(A) has erred in deleting the adjustments on the basis of "aggregation" of international transactions without giving cogent reasons for such aggregation even when the separate evaluation of all transactions was carried out by TPO. 2. The Ld. CIT(A) has erred in law and on facts in deleting the adjustments by finding faults with the analysis carried out by the TPO without examining the appropriateness of the benchmarking carried out by the assessee. 3. The Ld. CIT(A) has er....

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....ding the Ld. Advocate appearing for the assessee submitted before us that in the event the Ground No. 3 relating to deleting of adjustment based on the terms of the Advance Price Agreement entered by the appellant with the CBDT is decided in favour of the assessee the first two grounds would be infructuous and therefore, he prays for deciding this particular issue at the first juncture. Such submission made by the Ld. AR has not been controverted by the Ld. DR with all his fairness. We, therefore, after hearing the parties and upon perusal of the records made available before us proposed to deal with the Ground No. 3 as indicated hereinabove. 4. The facts pertaining to the issue is this that the appellant for the subsequent years commencin....

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....s challenged correctness of the order dated 27.05.2015, passed by the learned CIT(A), in the matter of assessment under section 143(3) r.w.s 144C of the Income Tax Act 1961, for the assessment year 2010-11. 2. When this appeal was called out for hearing, learned counsel for the assessee invited our attention to the fact that the matter has been resolved under Unilateral Advance Pricing Agreement (APA) with CBDT vide agreement dated 13th October 2015. He also invites our attention to letter dated 4th August, 2016 written by Commissioner of Income Tax (JT&, TP) Ahmedabad and addressed to the Principal Chief Commissioner of Income Tax, International Taxation, submitting Compliance Audit Reports in respect of the said APA. Learned Counsel su....