TaxTMI 
TaxTMI 
2026 (9) TMI 836
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....tax Act, 1961, for assessment year 2020-21. GROUDS OF APPEAL General Ground 1. The Ld. CIT (A) erred in issuing the impugned order without jurisdiction and in gross violation of Notification No. 113/2022 dated 13 October 2022 [No. 113/2022/F.No.279/Misc./66/2014-ITJ (PL)/SO 4873(E)] issued by the Central Board of Direct Taxes, and binding on the lower authorities, and hence, the impugned order is liable to be quashed. 2 The lower authorities' erred in finalizing an order of assessment which suffers from legal defects such as being passed in violation of principles of natural justice, contrary to the provisions of the Income Tax Act, 1961 ("the Act"), barred by limitation, is devoid of merits, contrary to fa....
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....heir jurisdiction. 7 The lower authorities have, in the facts and circumstances of the case and in law, erred in disregarding the evidence provided by the Appellant for availing the intra group services and has erred in concluding that no tangible/direct benefits accrued to the Appellant from such services, without appreciating the fact that commercial expediency of transaction cannot be questioned by the lower authorities. 8 The lower authorities erred in not considering the voluminous evidence and supporting documentation and explanation provided by the Appellant during the course of proceedings to substantiate the rationale for paying the group divisional charges. 9. The lower authorities erred in disregarding ....
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.... customers. 15. The lower authorities have erred in ignoring the contractual terms agreed between the Appellant and the AEs and instead, substituted the same with a credit period of 30 days without any basis. 16 The lower authorities erred in making the said addition without undertaking a benchmarking analysis based on similar uncontrolled transactions and without adopting any of the prescribed methods under the Act and the related rules. 17. The lower authorities erred in computing interest on delayed receivables without adjusting (netting-off) the inter-company payables. 18 Without prejudice, the lower authorities erred in arbitrarily adopting 6-month LIBOR 350 bps to benchmark the interest on overdue r....
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....t prays that directions be given to grant all such relief arising from the grounds of appeal mentioned supra and all consequential relief thereto. The Appellant craves leave to add to and/or to alter, amend, rescind, modify the grounds herein above or produce further documents before or at the time of hearing of this Appeal. 2. The brief facts of the case are that the assessee, ZF Wind Power Coimbatore Private Limited, formerly known as Hansen Drives Limited, is a domestic company primarily engaged in manufacturing and assembly of gearboxes for wind turbine generators. The assessee operates from a Special Economic Zone situated at Coimbatore. 3. The assessee filed its return of income for the assessment year under consideration. The r....
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....which were subject matter of appeal before the Ld. CIT (A). The Ld. Authorised Representative further submitted that the impugned order has been passed without granting effective opportunity to the assessee to place complete submissions on merits and without adjudicating the preliminary plea raised by the assessee. 6. Further, the Authorised Representative also relied upon the Notification dated October 13, 2022, and submitted that jurisdiction to adjudicate appeals in cases pertaining to transfer pricing issues was vested with the Commissioner of Income Tax (Appeals)-16 and considering that the order of the CIT(A) National Faceless Appeal Centre was passed without providing an opportunity to the assessee, it was prayed that the impugned....