2016 (9) TMI 1652 - HC - Income Tax

Condonation of delay - appeal is hopelessly time barred by 670 days - HELD THAT - The explanation given and heard cannot be termed as constituting sufficient cause requiring condonation of delay. TP Addition - In addition to the delay, the revenue had appealed against an earlier order in respect of a similar direction by the ITAT 2015 (5) TMI 436 - DELHI HIGH COURT . The court had upheld the decision even while requiring the TPO to take into consideration rule 10(B) of the Income Tax Rules while carrying out the ACP exercise. The court had in the assessee s appeal 2016 (7) TMI 1055 - DELHI HIGH COURT also held in addition that an appropriate method would be TNMM - TPO is hereby directed to follow the directions of this court for AY 2009-2010 contained in both the appeals of the assessee and the revenue as well. Appeal is disposed of.

Summary

The High Court of Delhi dismissed the appeal as it was time-barred by 670 days. The court directed the Transfer Pricing Officer (TPO) to follow its previous directions for the Assessment Year 2009-2010, including considering rule 10(B) of the Income Tax Rules and using the TNMM method.