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TMI Blog2016 (10) TMI 1318X X X X Extracts X X X X X X X X Extracts X X X X ..... (A). Accordingly the appeal of assessee is stands allowed. - IT(TP)A 135/Bang/15 - - - Dated:- 17-10-2016 - Sri Sunil Kumar Yadav, Judicial Member And Sri. Arun Kumar Garodia, Accountant Member Appellant By: Sri. Lakshmi Narayan, Advocate Respondent By: Ms. Neera Malhotra, CIT(DR) ORDER Per Sunil Kumar Yadav, J.M This appeal is preferred by the Assessee, against the order of the CIT(A) inter alia on the following grounds: 1. The order of the learned Assessing Officer under section 143(3) r.w.s 263 144C(13) of the Act is opposed to law, facts and circumstances of the case, and therefore liable to be cancelled. 2. The Learned lower authorities erred in making a reference u/s. 144C without meeting the arg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment order is bad in law because the orders/directions of the DRP u/s. 144C are binding on the Assessing Officer and cannot be approved by the JCIT who is not a superior authority over the DRP. 9. APPLICATION OF TP PROVISIONS: a) The Learned Dispute Resolution Panel (DRP) and the lower authorities ought to have held that there is no A.E. since the authorities are unable to show that the provisions of Sub Section (1) of Sec. 92A are attracted and also the criteria in Sub Section to 92A are also satisfied and therefore, ought to have concluded that the Transfer Pricing (TP) provisions do not apply to the facts of the appellant. b) The Learned DRP ad the lower authorities erred in holding that the deeming provision in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri. Gali Janardhan Reddy is only a director without any share holding in M/s. GLA Ltd., and further without attracting either clause (e) or clause (f) of section 92A(2), such right of participation or management of control did not exist and therefore, there was no A.E u/s. 92A. h) No individual or other person having any control or controlling interest in M/s. GLA International PTE Ltd., has any control over the appellant and therefore clause (j) or clause (k) of section 92A(2) is also not satisfied and as such it is not relevant that Sri. Gali Janardhana Reddy became one of the directors of M/s. GLA International PTE Ltd., for the purpose of section 92A. 10. DETERMINATION OF ALP: WITHOUT PREJUDICE THAT a) The authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed conditions, is at arm s length. g) The authorities should have appreciated that there are no deemed international transactions u/s. 92B and therefore, the question of determination of the Arms Length Price of such alleged international transactions did not arise. 11. The authorities failed to appreciate that there were no payments/expenses to be disallowed u.s.37(1) and therefore, no income was admitted in the return filed u/s. 153A on this issue and the Learned A.O is also not able to identify any such payment in the books of account of the appellant assessee. 12. The Learned A.O and the DRP failed to appreciate there was no excess stock and ought to have accepted the explanation of the assessee which reconciled the st ..... X X X X Extracts X X X X X X X X Extracts X X X X
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