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TMI Blog2015 (5) TMI 1157X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee company with M/s. Mylan Laboratories Ltd., involving payment of management fees. The appeal of the Revenue is accordingly dismissed. Disallowance of depreciation in respect of technical knowhow purchased from M/s. Mylan Laboratories Ltd. and development charges paid to the said company - Held that:- The issue involved in the appeal of the assessee for the A.Y. 2010-2011 thus is squarely covered in favour of the assessee by the decision of the Coordinate Bench of this Tribunal rendered vide order dated 25.03.2015 (supra) for A.Y. 2009-2010 and respectfully following the same, we direct the A.O. to delete the disallowance made on account of assessee’s claim for depreciation of ₹ 9,71,97,865 on intangible assets. - Decid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... international transactions with its AEs. He therefore referred the matter to the TPO for the purpose of determining the Arms Length Price ( ALP ) of the said international transactions. As noticed by the TPO, the assessee company had paid an amount of ₹ 1,10,30,000 as management fees to M/s. Mylan Laboratories Ltd., during the year under consideration. For the reasons given in his order passed under section 92CA(3) of the Act, the TPO held that the transaction between the assessee company and M/s. Mylan Laboratories Ltd., involving payment of management fees of ₹ 1,10,30,000 was in the nature of deemed international transaction. He therefore proceeded to determine the arms length price of the said transaction. In this regard, he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be recorded as deemed international transactions. 5. We have heard the arguments of both the sides and also perused the relevant material on record. Although the learned D.R. has strongly relied on the order of the TPO in support of the Revenue s case that the relevant transactions between the assessee company and M/s. Mylan Laboratories Ltd., involving payment of management fees are in the nature of deemed international transactions, it is observed that a similar issue in assessee s own case for A.Y. 2009-2010 has been decided by the Tribunal in favour of the assessee vide its order dated 25.03.2015 passed in ITA.No.198/Hyd/2014 vide paragraph No.4 which reads as under : 4. Coming to the Revenue s appeal, as seen from the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 5.1. As the issue involved in the year under consideration as well as all the material facts relevant thereto are similar to that of A.Y. 2009-2010, we respectfully follow the decision of the Coordinate Bench of this Tribunal for A.Y. 2009-2010 and uphold the order of the DRP directing the A.O. not to make any addition on account of T.P. adjustment in respect of the transactions of the assessee company with M/s. Mylan Laboratories Ltd., involving payment of management fees. The appeal of the Revenue is accordingly dismissed. 6. Now, we take up the appeal of the assessee being ITA.No.43/Hyd/2015 which involves a solitary issue relating to disallowance of ₹ 9,71,97,865 made by the A.O. on account of assessee s claim for depreci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was approved by the DRP. 8. We have heard the arguments on both the sides and also perused the relevant material on record. As agreed by learned Representatives of both the sides, the issue involved in this appeal of the assessee is squarely covered in favour of the assessee by the decision of the Tribunal in assessee s own case for A.Y. 2009-2010 rendered vide its order dated 25.03.2015 passed in ITA.No.234/Hyd/2014. A copy of the said order is placed on record before us and perusal of the same shows that the order passed by the learned CIT under section 263 for A.Y. 2006-2007 on this issue was set aside by the Tribunal vide order dated 16.01.2015 passed in ITA.No.840/Hyd/2012 and consequential order passed by the A.O. under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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