9911796707
TMI Blog2021 (1) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... captive software development service company. AO has not granted credit of correct amount of advance tax, self assessment tax and TDS amounts - grievance of the assessee is that the AO has not granted credit of correct amount of Minimum Alternative Tax (MAT) u/s. 115JAA - HELD THAT:- We notice that the above said claims of the assessee require verification at the end of AO. Accordingly, we re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er, the assessee filed a miscellaneous application, wherein certain mistakes apparent from record were pointed out. The co-ordinate bench disposed of the miscellaneous application in M.P No. 33/Bang/2020 on 13.8.2020. As per the said order, the Tribunal has recalled its order for the limited purpose of adjudicating following grounds:- a. Ground No. 3(1) in so far as it is related to I2T2 Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... observations made by the co-ordinate bench in the above said case are extracted below:- 11. The assessee seeks inclusion of T2T2 India Ltd. The Ld. A.R. submitted that this company is functionally comparable company. The TPO/DRP has rejected the same only for the reason that the detail of Related Party Transactions (RPT) was not disclosed in the Annual Report. The Ld. A.R. submitted tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... party who is covered under section 301 of the Act during the financial year. Hence, in the absence of any specific information, there is merit in the contentions of the assessee that the above said company might not have had related party transactions during the year under consideration. Accordingly we do not agree with the reasoning given by Ld. DRP for excluding this company as a comparabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imum Alternative Tax (MAT) u/s. 115JAA of the Act. 7. We notice that the above said claims of the assessee require verification at the end of AO. Accordingly, we restore both the issues to the file of AO for examining the claim of the assessee and give credit of correct amount of claim by way of advance tax, self assessment tax, TDS amounts and MAT credit. 8. In the result, the ground no. 3( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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