TaxTMI 
TaxTMI 
2026 (6) TMI 604
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....ppeal filed by the assessee and Stay Application are against the final assessment order dated 25.11.2025 of the ld. Assessing Officer/ Assessment Unit u/s 143(3) r.w.s. 144C(13) r.w.s. 144B of the Income Tax Act, 1961 (hereinafter referred to as "the Act") for Assessment year ('AY') 2022-23. 2. Brief facts of the case are that the appellant/ assessee, BREVO CRM SOLUTIONS Pvt. Ltd. was formerly known as Creatorbox Softwares P. Ltd. and Successor entity of Silver Line IT solutions Pvt. Ltd. A Silver Line IT Solutions Pvt. Ltd. filed return of income for Assessment Year 2022-23 on 30.11.2022 declaring total income of Rs. 4,91,24,571/-. The case of Silver Line IT Solutions Pvt. Ltd. was selected for complete scrutiny under CASS for following....
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....320/- i.r.o. international transactions software development services). 3. Being aggrieved, the appellant/assessee preferred present appeal on following grounds: "Ground relating to transfer pricing adjustment - INR 41,107,865 1. Adjustment relating to international transaction of provision of software development services INR 41,104,320 1.1. The Ld. AO along with the Ld. TPO (under the directions of Hon'ble DRP) erred on facts and in law in making an addition of INR 41,104,320 to the Appellant's taxable income by incorrectly determining the arm's length price for the provision of software development services. 1.2. Ld. AO/Ld. TPO erred on facts and in law in modifying the economic analysis....
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..../Ld. TPO erred on facts and in law in not appreciating the fact that the Appellant has realized the invoices within a weighted average credit period of 28 days which is well within the accepted credit policy of 60 days by the Ld. TPO/ Ld. AO, thereby, not warranting an addition. 2.3. The Ld. AO/ Ld. TPO erred on facts and in law in not appreciating that once a working capital adjustment is performed, it subsumes the impact of outstanding receivables made by the Appellant. Other grounds 3. The Ld. AO erred on facts and in law in levying excess interest under section 234B of the Act. 4. The Ld. AO erred on facts and in law in initiating penalty proceedings under Section 270A of the Act. 5. On the f....
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..... The assessee inadvertently omitted to raise the additional ground earlier. The additional ground of appeal is necessary for the substantial justice. Silver Line IT Solutions Private Limited got merged with Creatorbox Softwares Private Limited with effect from April 01, 2024 pursuant to scheme of merger approved by the NCLT vide order dated December 23, 2024. A copy of the said order is Annexure 1. This fact was duly intimated to the Hon'ble Dispute Resolution Panel ('Hon'ble DRP'), Learned Transfer Pricing Officer, 3(1)(2), Delhi ('Ld. TPO') as well as to the Learned Assessing Officer, Circle 23(3), Delhi, vide letters dated February 18, 2025. The copy of these letters are attached as Annexure 2. 4.1 Subsequent ....
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....d the above factual position the additional ground of appeal is admitted. 6.1 The final assessment order dated 25.11.2025 by Ld. AO and ld. DRP directions dated 31.10.2025 are in name of Silver Line IT Solutions Pvt. Ltd. with PAN No. AALCS4064L. Hon'ble NCLT vide order dated 25.11.2024 had ordered merger of Silver Line IT Solutions Pvt. Ltd. with Creatorbox Softwares P. Ltd. with effect from 01.04.2024 copy of order is Annexure 1 and letter of intimation to DRP and TPO dated 18.02.2025 is Annexure 2. The Creatorbox Softwares P. Ltd. was changed to Brevo CRM Solutions Pvt. Ltd. with effect from 16.04.2025, copy of certificate of incorporation is Annexure 3 and intimation to DRP and Ld. TPO as well as Ld. AO is 16.06.2025 is Annexure 4. ....