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TMI Blog2021 (5) TMI 575X X X X Extracts X X X X X X X X Extracts X X X X ..... corporate guarantee commission of 0.9% would be just and proper in both the impugned assessment years i.e., A.Ys. 2012-13 and 2013-14. Denying carry forward set-off losses under the head 'capital gains' - HELD THAT:- It transpires during the course of hearing that this tribunal's order in assessee's appeal[ 2016 (9) TMI 1597 - ITAT HYDERABAD] has restored the issue of carried forward of short term losses pertaining to earlier assessment years back to the Assessing Officer. The said order has indeed not been considered in any of the lower appellate authorities' adjudication(s). We therefore proceed on the very line of action in the impugned assessment year as well by adopting judicial consistency and direct the Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therance to the Dispute Resolution Panel ('DRP')-1, Bengaluru's directions dt. 01-12-2016 and 31-08-2017 in F. No. 132 280/DRP-1/BNG/2016-17, involving proceedings u/s. 143(3) r.w.s. 92CA(4) r.w.s. 144C and 143(3) r.w.s. 144C(5) r.w.s. 144C(13) of the Income Tax Act, 1961 [in short, 'the Act']; respectively. Heard both the parties. Case files perused. 2. We now advert to the assessee's pleadings in both these assessment years. Its identical first grievance in A.Ys. 2012-13, ground Nos. 2 and 3 and 2, 4 and 5th substantive grounds in A.Y. 2013-14; challenges correctness of the learned lower authorities' action making Arm's Length Price (ALP) adjustments of ₹ 11,64,240/- and ₹ 31,85,162/- pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dopted @1.8% in the Transfer Pricing Officer's (TPO) order. The fact also remains that the DRP's order in A.Y. 2013-14 has adopted similar corporate guarantee commission @1.3% only. 4.1. Learned departmental representative fails to dispute that TPO's order has gone by the Ministry of Finance, Government of India's Government Guarantee Policy in September, 2010 and State Bank of India's rates than fining any independent comparable in the very segment. The fact also remains that we do not see any comparable coming from the assessee's side as well as its thrust all alone has been to contest the learned lower authorities' action treating such a corporate guarantee as an international transaction in above terms onl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the learned lower authorities have erred in law and on facts in upholding capital gains addition of ₹ 21,02,947/-. This Revenue's case on the other hand in light of the DRP's directions in para 2.3 is that the panel has already directed the Assessing Officer to verify the corresponding claim. The Assessing Officer's consequential assessment dt. 30-01-2017 holds that such an additional claim could not be entertained in absence of a revised return as per hon'ble apex court's decision in Goetze (India) Ltd. Vs. CIT (2006) 284 ITR 323 (SC). We find no merit in the Revenue's foregoing argument. Their lordships have made it clear in para 4 that the same only applies on the Assessing Officer's jurisdiction t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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