2012 (7) TMI 1077

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..... ORDER PER N. BARATHVAJA SANKAR, VICE PRESIDENT : This is an appeal preferred by the assessee, M/s. DRHL India Services Pvt. Ltd., Bangalore, for the assessment year 2006-07, against the order of the DCIT, Circle -11(1), Bangalore, dealing with transfer pricing adjustment. The grounds of appeal raised by the assessee read as under : i) On the facts and in the circumstances of t .....

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..... there were contradiction reasoning of the TPO and consequently the difference in ALP as determined by the TPO and as approved by the DRP are unreasonable and unwarranted and thus the impugned addition as made was liable to be deleted. v) The learned assessing authority/DRP erred in not following the method for determination of ALP as adopted by the appellant which was as approved by the statute .....

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..... ka Export Credit Insurance Corporation vi) Form 36B vii) Copy of assessment order viii) Copy of proceedings of the DRP, Bangalore ix) Form 35A x) Order u/s.92CA xi) Transfer Pricing correspondences xii) Franchise agreement xiii) Form 3CEB xiv) Financial statements By placing the above paper book on record, the learned counsel for the assessee was fair enough to submit .....

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..... ion of these documents before the lower authorities on account of bonafide reasons narrated supra and not due to malafide intention. Thus, it was prayed that the above documents may be admitted in the interest of justice and equity. 03. We have also heard the learned DR who submitted that in case these additional evidences are admitted the matter has to be remitted back to the Assessing Officer .....

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..... espect of the ALP. The assessee shall also cooperate with the Assessing Officer by producing the materials that may be required by him. 05. The assessee has also taken a ground in respect of levy of interest u/s.234D of the IT Act. Since we have restored the matter to decide the main issue relating to transfer pricing, we direct the Assessing Officer to redecide this issue relating to interest .....

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