TaxTMI 
TaxTMI 
2019 (6) TMI 1750
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....ment order dated 19/9/2018 pursuant to the order of remand dated 8/4/2016 by the Tribunal, M/S Toshiba India private limited (the assessee) preferred ITA No. 7340 /Del/ 2018. 2. Briefly stated relevant facts are that the Assessee is a company engaged in the business of trading of consumer durable etc. and also has been providing representative and marketing support services to Toshiba workgroup companies worldwide. For the assessment year 2011-12, they have filed their return of income on 30-11-2011 declaring a total income of Rs. 12,90,03,431/-. 3. Ld. TPO by order dated 30/1/2015 passed under section 90 2CA(3) of the Income Tax Act, 1961 (for short "the Act"), suggested an adjustment of Rs. 71,23,76,838/-to the return....
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....n to PF/ESIC and SAD written off. Appeal of the assessee in ITA No. 944/del/2016 was disposed of by order dated 8/4/2016 by the Tribunal by setting aside the issue relating to the adjustment on account of AMP and remanding the matter to the file of the Ld. TPO/AO for deciding it afresh. 6. Pursuant to the remand order dated 8/4/2016 passed by the Tribunal, Ld. TPO passed the order dated 27/10/2017 making the adjustment of NIL on substantive basis and an adjustment of Rs. 98,53,39,049/-on protective basis following the Bright Line Test (BLT) method. Assessee filed objections before the Ld. DRP and the Ld. DRP by order dated 24/8/2018 confirmed the adjustment on protective basis. Ld. DRP, however, the computed the adjustment at R....
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....stence of international transaction would be academic in this proceedings, and the assessee would seek the leave of the Tribunal to rise such an issue at any appropriate stage. 8. Ld. DR submitted that for the assessment year 2012-13 a coordinate Bench of this Tribunal held that the issue of AMP involves an international transaction and therefore, it is necessary to benchmark such a transaction. Ld. AR submitted that the issue of benchmarking the transaction in this case does not arise because under identical circumstances the protective addition on account of AMP following the BLT was deleted for the earlier and subsequent years by the coordinate Bench of this Tribunal, and such an issued arise only when the revenue makes a substantive ....
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.... by following the method of BLT. 9. Since the facts are similar, that too in assessee's own case and the decisions of the coordinate benches are rendered by following the decision of the Hon'ble jurisdictional High Court in the case of Sony Ericsson (supra), this Bench cannot hold the issue in some other way by taking a different view. Rule of consistency as laid down by the Hon'ble Apex court in the case of Radhasoami Satsang, 1992 AIR 377, does not permit such a course. We, therefore, while respectfully following the same, hold that the addition on protective basis by following the BLT method cannot be sustained. 11. Further, the Hon'ble High Court dismissed the appeal in ITA No. 1451/2018 by order dated 15/5/2019 preferr....
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....n the year under question, when the corresponding goods are still treated as stock in trade. 13. Ld. DR submitted that so long as the corresponding goods are still treated as stock in trade and appearing in the books of the accounts of the assessee as closing stock, the advance amount paid cannot be claimed as deduction. No circumstances are brought to our notice to disturb such a finding of the Tribunal under similar circumstances. We, therefore, do not find any merit in the contention of the assessee and this ground of appeal of Revenue has to be allowed. 14. Lastly, in respect of the issue of disallowance on account of late deposit of employees contribution to PF/ESIC, the impugned order speaks that the Ld. DRP granted relief to th....