TaxTMI 
TaxTMI 
TaxTMI 
2025 (10) TMI 132
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....) on 29.07.2022 for the A.Y. 2018-19. 2. The assessee has raised the following grounds : Repr. 1. The order of the Ld. Assessing Officer ("Ld. AO") pursuant to the directions of the Dispute Resolution Panel ("the Hon'ble DRP"), is bad in law and liable to be set aside. 2. The Ld.AO/Hon'ble DRP erred in law and on facts in concluding that foreign Associated Entities cannot be selected as tested parties. 3. The Ld. AO/Hon'ble DRP erred in law and on facts by erroneously disallowing an amount of INR 4,83,39,374 which is an adjustment to provision for expense on account of technical services received from MW Group Germany in AY 2018-19, without considering the fact that such amount was already adjusted ....
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....t considering the fact that the Assessee does not charge interest from its non-AE customers for delay in realisation of invoices and therefore computation of notional interest on outstanding receivables from Associated Entities is not warranted. 10. Without prejudice to the grounds of appeal no. 8 and 9, the Ld. AO/ Hon'ble DRP erred in adopting SBI's term deposit interest rates for computation of notional interest on outstanding receivables denominated in foreign currencies. 11. The Ld. AO has erred in law and on facts in making an addition of unbilled revenue of INR 4,35,87,337/- recorded as an asset in financial statements, without discerning the fact that it already forms part of the revenue offered to tax duri....
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.... TPO as per his order dated 31.07.2021 proposed upward Transfer Pricing ("TP") adjustment of Rs. 20,80,15,057/- on account of international transactions. Accordingly, the Ld. AO passed draft assessment order on 28.09.2021. Aggrieved, the assessee preferred objections before the Learned Dispute Resolution Panel ("Ld. DRP") and pursuant to the directions of Ld. DRP dated 27.06.2022, the Ld. AO finalized the assessment on 29.07.2022 determining the ALP on account of international transactions amounting to Rs. 17,84,13,270/-. The Ld. AO also made addition on account of non-TP issue i.e. ;addition of Rs. 2,700/- u/s.40(a)(ia) of the Act and addition of Rs. 4,35,87,337/- on account of unbilled revenue. 4. Aggrieved with the final assessment or....
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....that the assessee has not claimed the amount of Rs. 4,83,39,374/- in profit and loss account in A.Y. 2018-19. However, inadvertently, the Ld. DRP without considering the findings given by the Ld. TPO in the Remand Report, rejected the claim of the assessee. Therefore, the Ld. AR prayed before the bench, that, as Rs. 4,83,39,374/- has not been claimed as expenditure in A.Y. 2018-19, the addition made by the Ld. AO on this account is liable to be deleted. 5.1 Per contra, the Learned Department Representative ("Ld. DR") conceded the view of the Ld. AR and accepted that the addition made by the Ld. AO may be deleted. 5.2 We have heard the rival submissions and also gone through the record in the light of the submissions made by either sid....
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....ought our attention to page no.16 of the order of Ld. DRP, wherein, the Ld. DRP has mentioned at para no.2.6, the objection by the assessee, but failed to give any finding on the same. Therefore, the Ld. AR prayed before the bench, as the Ld. DRP failed to adjudicate on the objection of the assessee, to set aside the issue to Ld. DRP for fresh adjudication. 6.1 Per contra, the Ld. DR had no objection on the request of the assessee to set aside the issue to the file of Ld. DRP. 6.2 We have heard the rival submissions and also gone through the record in the light of the submissions made by either side. We have gone through page no.16 of order of Ld. DRP and found that, although at para no.2.6, Ld. DRP has noted the objection of the asse....
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.... bench of ITAT in ITA No.201/Hyd/2022 dated 09.09.2024, at para no. 11 of the order, had accepted the additional evidences of assessee and remanded the issue for verification. Respectfully following the findings of the co-ordinate bench of ITAT in assessee's own case (supra), we remand the issue to the file of Ld. AO/Ld. TPO with a direction to verify the evidences filed by the assessee and decide the issue as per law. 7.3 In the result, ground no.7 of the assessee is allowed for statistical purposes. 8. Ground no.11 of the assessee is related to non-TP issue on account of addition of Rs. 4,35,87,337/- towards unbilled revenue. 8.1 In this regard, the Ld. AR submitted that, they had requested for two weeks time for their submis....