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Showing 61 to 80 of 167 Records Search Text: yum restaurants india |
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2018 (7) TMI 2083 - ITAT DELHI TP Adjustment - MAM selection - Method for benchmarking the international transaction - HELD THAT:- findings returned by TPO/DRP that the taxpayer being a full-fledged risk bearing distributor performing numerous functions, RPM is not the MAM, is not sustainable for the reason that in a comparable uncontrolled transaction, normally distributor requires to carry out all the functions necessary to enhance the sales like market research, inventory risk, credit risk etc.. In such circumstances, no c... ... ...
2018 (6) TMI 1029 - ITAT DELHI Addition on account of commission - assessee paid commission to the agents in the post-paid segment of its business - Held that- The assessee furnished necessary details and also Form no.16As in respect of major payments - DRP deleted the addition by relying on the order passed for the A.Ys. 2000-01 to 2008-09 in the case of sister concern of the assessee. The Revenue assailed the said order passed by the first appellate authority before the Tribunal. In DCIT vs. Vodafone Mobile Services Ltd. (2... ... ...
2018 (4) TMI 689 - ITAT MUMBAI Set off of loss brought forward of the earlier years to be set off in the current assessment year - since 51% shareholding as on 31st March 2009, 31st March 2010 and 31st March 2012 is not with the same persons, the loss cannot be set off - Held that:- Section 79 of the Act provides for carry forward and set off of losses. In the present appeal, the assessee is not seeking carry forward of losses to be set off but the assessee is seeking to set off the brought forward losses of the earlier years... ... ...
2016 (4) TMI 1178 - ITAT DELHI TPA selection of comarables - Held that:- A comparable company engaged in the similar business which is having the similar FAR may be generally included though same might have been held to be not includible by the courts in some other cases. Further the contractual terms as well as host of other factors stated in above sub rule may determine the comparability analysis. If the difference arising on comparability analysis does not affect the price or profitability of comparable or if so it can be ... ... ...
2013 (5) TMI 222 - ITAT MUMBAI Addition on undisclosed income - search u/s 132 - time limit for completion of Block assessment - whether 31-01-03 or 31-03-03 - addition of donations, estimation of income for the entire block period - Held that:- In spite of repeated requests by assessee, the order of the CIT on special audit was never furnished to assessee and it has been placed on record only in the present appeal proceedings - there is no reference to the period under which the audit was to be completed either in the order ... ... ...
2020 (12) TMI 801 - ITAT DELHI TP adjustment - AMP expenses - main contention of the assessee is that the AMP expenditure do not constitute an international transaction - Bright Line Test ( BLT ) application - HELD THAT:- Regarding the BLT, the Hon ble High Court of Delhi in Sony Ericsson Mobile Communications India Pvt. Ltd.[ 2015 (3) TMI 580 - DELHI HIGH COURT] held that BLT could not be applied for either determining the existence of an international transaction involving AMP expenses or for determining ALP of such transac... ... ...
2017 (3) TMI 1377 - ITAT DELHI Disallowance of proportionate interest on unsecured loans - Held that:- We find that the A.O has simply computed the disallowance of interest in proportion to the amount of interest bearing unsecured loans obtained amounting to Rs. 502.69 crore and interest free advances given amounting to Rs. 172.59 crore. The fact that the assessee did pay interest on such unsecured loans has not been disputed. In view of the fact that the assessee paid interest on unsecured loans and did not earn any interest... ... ...
2015 (12) TMI 516 - ITAT DELHI Transfer pricing adjustment - selection of comparable - Held that:- RITES Ltd., Apitco Ltd. and Kitco Ltd be excluded from the list of comoarable as not comparable to the functions performed by different service segments of assessee - Decided in favour of assessee. Exclusion of foreign exchange gains/ loss and provision for bad debts, by calculating the PLI, treating the same as non-operating item by TPO - Held that:- We find considerable force in the submission of ld. counsel for the assessee t... ... ...
2020 (12) TMI 1060 - ITAT BANGALORE Disallowance of advertisement expenditure - AO noticed that the assessee firm has contributed a sum to a School for the purpose of construction of a swimming pool in that school - HELD THAT:- AO has given identical reasoning for disallowing 20% of the expenses on gifts and promotional aids given to doctors. Accordingly, following the decision rendered by the co-ordinate bench in AY 2013-14, we direct the AO to delete the impugned disallowance. TP adjustment made in respect of goods sold to Assoc... ... ...
2018 (7) TMI 1964 - ITAT BANGALORE Assessment u/s 144C - whether final order of assessment was not passed within the time limits prescribed by law and therefore the same being bad in law is liable to be quashed? - HELD THAT:- In the case on hand, the DRP issued its directions on 17.12.2015 and while the same were admittedly received by the Assessing Officer on 29.12.2015, the final order of assessment was passed on 18.02.2016. According to the assessee, this final order of assessment for Assessment Year 2011-12 is bad in law sinc... ... ...
2023 (4) TMI 18 - ITAT CHANDIGARH Deferred revenue expenditure deduction - Whether said claim is not allowable u/s 37(1)? - HELD THAT:- As identical issue having similar facts has already been decided in favour of the assessee for the A.Y. 2004-05 in assessee s own case as find that the CIT (Appeals) by placing reliance on the relevant decision on the basis of uncontroverted finding of facts recorded therein, has rightly allowed the claim of the assessee. Deduction on account of pre payment charges paid to IDBI - HELD THAT:- As ... ... ...
2022 (7) TMI 1377 - ITAT BANGALORE TP Adjustment - comparable selection - HELD THAT:- Assessee has been characterised to be a limited risk distributor and the captive service provider in respect of Business support service segment, thus companies functionally dissimilar with that of assessee need to be deselected. Addition of AMP expenses - international transaction - HELD THAT:- Directing the Ld.AO to delete the adjustment made on account of AMP expenses by treating it as separate international transaction. Incorrect computation... ... ...
2021 (11) TMI 647 - ITAT DELHI Adjustment on account of AMP expenses - whether there existed an international transaction within the meaning of Section 92B? - HELD THAT:- Reputation of a brand only enhances the sale and profitability and here in this case is only benefitting the assessee company when marketing its products using the trade mark and the brand of AE. Even otherwise also, the value of the brand which has been created in India by the assessee company will only be relevant when at some point of time the foreign AE ... ... ...
2021 (2) TMI 1329 - ITAT MUMBAI Disallowance u/s 14A r.w.Rule 8D - assessee during the year under consideration had earned tax free interest income from various tax free bonds - HELD THAT:- We are of the considered view that no part of the interest expenditure could have been attributed to the earning of the exempt income by the assessee during the year in question. Our aforesaid view is fortified by the judgment of CIT Vs. HDFC Bank Ltd. [ 2014 (8) TMI 119 - BOMBAY HIGH COURT] . Accordingly, in terms of our aforesaid observat... ... ...
2021 (2) TMI 867 - ITAT BANGALORE Disallowance of depreciation and additional depreciation claimed - Plant Machinery or Furniture and fixtures - Application of functional test for determining what constitutes plant - HELD THAT:- As decided in assessee s own case AY 2013-14 certain items of assets are in the nature of Plant and machinery. It is the claim of the assessee that other items are also used as part of Plant and Machinery. Hence, we are of the view that this issue requires fresh examination at the end of the AO in accord... ... ...
2020 (11) TMI 811 - ITAT BANGALORE Procedure prescribed u/s 144C - validity of draft assessment order where AO did not attach the notice of demand - Whether the whole assessment proceedings is liable to be quashed as illegal - whether the action of the AO in issuing Notice of Demand along with the draft assessment order would vitiate the assessment proceedings - HELD THAT:- In the instant case, there is no dispute that the assessing officer has consciously passed the draft assessment order by correctly mentioning that the same is... ... ...
2020 (10) TMI 1049 - ITAT BANGALORE Validity of reopening of assessment - Notice after expiry of 4 years from the end of the assessment year - assessee requested the A.O. to treat the return originally filed u/s 139 of the Act on 31.10.2007 as the return filed in response to the notice issued u/s 148 - HELD THAT:- It is imperative on the part of the A.O. to show that there was failure on the part of the assessee to disclose fully and truly all material facts relating to the assessment. Admittedly, no such allegation has been made ... ... ...
2019 (11) TMI 333 - ITAT DELHI TP Adjustment - Advertising, Marketing and Promotional ( AMP ) Expenses addition - AMP expenditure as international transactions - HELD THAT:- The assessee who is in the business of distribution of goods manufactured by its foreign controlling parent and did not own any trademark or brand, had performed significant functions like brand development, market development, marketing customer support, technical and administrative support on behalf of its AEs in India bearing cost, investing huge sum a... ... ...
2019 (5) TMI 1798 - ITAT CHANDIGARH TP Adjustment - international transaction be presumed to exist due to excessive AMP expenses incurred by the assessee distributor - Adjustment on protective basis - arms length calculation resorted to by the TPO on the directions of the DRP by applying the intensity adjustment is opposed in principle by the assessee as it is invalid in law and a mirror image to Bright Line Test which does not have any judicial approval - HELD THAT:- We are of the view that there is nothing in the conduct of the ... ... ...
2019 (2) TMI 1535 - ITAT DELHI Addition on account of foreign exchange gain - Foreign Exchange Monetary Item Translation - foreign exchange gain on “Long Term Loan and Advance” - Accounting Standard-11 - Foreign Exchange Monetary Item Translation Difference account under the Head “Reserves and Surplus” - HELD THAT:- The loan given to AVML is a capital asset which helps in earning incidental interest income, which is also offered for taxation. Since the loan advanced was its long term asset i.e., on account of capital asset an... ... ...
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