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TMI Blog2019 (4) TMI 1532X X X X Extracts X X X X X X X X Extracts X X X X ..... en dismissed by the Supreme Court. This question is, therefore, not considered. Disallowance of sum paid to IFFCO as per arbitration proceedings - HELD THAT:- Tribunal has correctly relied upon and referred to the decision of the Gujarat High Court in case of Navjivan Roller Flour Pulse Mills Ltd Vs. Dy. CIT [ 2009 (3) TMI 132 - GUJARAT HIGH COURT] in which it was held that the liability of the assessee to pay damages would arise on the date of the award of such damages even if the award was challenged by the assessee in appeal. This question is, therefore, not considered. TP Adjustment of purchase price of copper concentrate - adjustment was made based on internal comparables and for the same month of transactions - HELD THAT:- We ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d from DHIL u/s 10(23G) on a gross basis even though the assessee company has claimed the intereset paid to DHIL as an expenditure - HELD THAT:- The similar issue has been decided against the Revenue by this Court in case of this very assessee by judgment [ 2012 (9) TMI 159 - BOMBAY HIGH COURT] . This question is also not considered. - INCOME TAX APPEAL NO. 1316 OF 2016 - - - Dated:- 22-4-2019 - AKIL KURESHI SARANG V. KOTWAL, JJ. Mr. Suresh Kumar for the Appellant Mr. S.E. Dastur, Sr. Advocate a/w Mr. Gautam Thakkar, Ms. Krupa Toprani i/by M/s. PRH Juris Consults for the Respondent P.C.: 1. Heard. 2. The appeal is admitted for consideration of following substantial questions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al was justified in upholding the decision of the CIT(A) directing the Assessing Officer to allow deduction u/S. 80IA in respect of Co-Generation Plant-1? upholding the decision of the CIT(A) directing the Assessing Officer to allow deduction u/S. 80IA in respect of Co-Generation Plant-2? (vii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the Birla Copper Power Plant Unit-I and II was entitled to deduction u/S. 80IA on the same ground on which he decided the issue in favour of the assessee in respect of Renupower Unit Nos. 6, 7 and 8? (viii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in directing th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid to IFFCO as per arbitration proceedings relying upon the decision of Gujarat High Court in the case of Navjivan Roller Flour and Pulse Mills Ltd Vs. DCIT (315 ITR 190) ? (c) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in deleting the adjustment of ₹ 6,03,07,020/- in respect of purchase price of copper concentrate, ignoring the fact that the adjustment was made based on internal comparables and for the same month of transactions? (d) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in reducing the rate of guarantee commission from 1.75% to 0.50% by relying on the decision of the Bombay High Court and the Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n so far as the question No. (b) is concerned, the Tribunal has correctly relied upon and referred to the decision of the Gujarat High Court in case of Navjivan Roller Flour Pulse Mills Ltd Vs. Dy. CIT [2009] 315 ITR 190 (Guj) in which it was held that the liability of the assessee to pay damages would arise on the date of the award of such damages even if the award was challenged by the assessee in appeal. This question is, therefore, not considered. 6. As far as question No. (c) is concerned, we notice that the Tribunal has examined the facts on record and come to the conclusion that the assessee had entered into a long term agreement with the associated enterprise for procuring copper concentrates. The Tribunal examined t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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