TaxTMI 
TaxTMI 
2026 (7) TMI 189
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....reinafter referred to as 'the Act') arising out of Assessment order dated 25.04.2014 of the Ld. Assessing Officer/ Income Tax Officer, Ward 9(1), New Delhi u/s. 143(3) of the Act for Assessment Year ('AY') 2010-11. 2. Brief facts of the case are that the appellant/ assessee, filed return of income on 14.10.2010 declaring total income of Rs. Nil. The assessee had paid tax u/s. 115JB of the Act to the tune of Rs. 27,33,052/-. The return was processed u/s. 143(1) of the Act. The case was selected for scrutiny through CASS. Notices u/s. 143(2) and 142(1) of the Act were issued. Shri Sanjay Bhargava, CA/ AR attended the proceedings, submitted the details, and produced books of accounts. 3. The company is engaged in business of marketing, i....
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....) erred in facts and in law by upholding the rejection of the transfer pricing methodology adopted by the Appellant in its transfer pricing report by: 3.1 Disregarding the segmental analysis carried out by the Appellant in its transfer pricing documentation and instead, considering entity wide approach by treating Indenting / Marketing support segment and Trading of spare parts (AMC) segment as single business segment. 3.2 Rejecting the Resale Price Method adopted by the Appellant and instead adopting Transaction Net Margin Method (TNMM) as the most appropriate method for benchmarking the international transactions under Trading of spare parts (AMC) segment. 4. Hon'ble CIT(A) erred in facts and in law by: ....
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....ss pertains to prior assessment year ("AY") i.e., A.Y. 2004-05 which is already in appeal before this Hon'ble Tribunal, thus if the ground for prior year is allowed in favour of the assessee necessary effect of brought forward unabsorbed depreciation should be allowed in subject year i.e., A.Y. 2010-11. 7.2 the appellant has nowhere in this submission mentioned that the Id. AO has passed necessary rectification in respect of the above. 7.3 That the Hon'ble CIT(A) has erred in adding the brought forward losses to the Appellant's income thereby leading to a double addition. 8. The Hon'ble CIT(A) erred on facts in dismissing the appellant's ground pertaining to interest levied under section 234B, ....
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....harp Business System case, 181 taxmann.com 657 Supreme Court order dated 19.12.2025. 7.2 Ground of appeal No. 6 being linked to above grounds is required to be sent to the AO. 7.3 Ground of Appeal No. 7 is consequential. 8. Ld. Departmental Representative submitted that the matter may be sent back to ld. TPO. 9. From examination of record in light of rival contention, it is crystal clear that the issue of TP adjustment on impugned services is settled through findings for previous years 2007-08 to assessment year 2009-10 vide orders dated 07.03.2024, 17.12.2025 and 07.01.2026 of Co-ordinate Bench. 9.1 The findings given in assessment year 2008-09 are as under: "5. Since the Tribunal had accepted that the assessee is i....
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....ssue of TP Adjustment on the impugned services is now settled through the findings given for two previous years by the ITAT. In this regard, the finding given for AY 2008-09 (supra) deserves to be extracted: - "5. Since the Tribunal had accepted that the assessee is into two different business segments i.e. AMC service provider and agency market and support services provider the transfer pricing adjustment made by the TPO by considering both the segments as a single segment for the year under consideration is to be revisited. In the light of the order of the Tribunal for the AY 2007-08 and the submissions of the Ld. Counsel for the Assessee, in principle we agree that the assessee s having two segments are observed by the Tribunal ....
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....ue of working out ALP is restored to the file of the Ld.TPO/AO. Needless to say, adequate opportunity of being heard would be given to the assessee and the comparables etc. provided by him will be fairly examined in the light of extant provisions." 9.3 In view of above facts and judicial precedents, the issue of working out ALP is restored to file of Ld. TPO/Ld. AO for decision afresh in accordance with law after affording fair opportunity of hearing to assessee. 10. Regarding issue of treatment being given to Non-Compete Fees, Hon'ble Supreme Court has settled the issue in Sharp Business System case (supra). A Co-ordinate bench in ITA No. 3742/Del/2015, A.Y. 2009-10, order dated 07.01.2026 whose para 5 held as: "5. Regarding....