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TMI Blog2022 (9) TMI 761X X X X Extracts X X X X X X X X Extracts X X X X ..... esent appeal of revenue it can be observed that at no stage during the hearing before TPO or even before CIT(A) the assessee had submitted anything factual which required any verification or which could have been examined and a reasonable conclusion drawn by the TPO or by Ld. CIT(A) himself. It was very much in the knowledge and records of the assessee as to which all Non-AE s the assessee had not charged any interest. So same should have been produced before CIT(A) at least in physical form than just a bald averment. No disputed question of fact before the CIT(A) requiring intervention in the form of a direction to ld. AO / TPO to verify the claim of the assessee. In fact if these documents / statements or facts were before Ld. CIT(A) t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18-19 / CIT(A)-44 passed u/s 250(6) of the Income Tax Act, 1961 (hereinafter referred to as the Act) by Commissioner of Income Tax (Appeals)-44, New Delhi (hereinafter referred to as the Ld. First Appellate Authority or ld. F.A.A.) in an appeal before it against assessment order dated 19.01.2018 passed u/s 143(3) read with section 92CA(3) of the Act by Assistant Commissioner of Income Tax, Circle 14(2), New Delhi (hereinafter referred to as the ld. Assessing Officer or in short Ld. AO). 2. The facts in brief are Assessee is a company engaged in business of import and delivery of coal to various PSUs, private sector/steel/cement and other utilities. Coal is being imported mainly from Indonesia/South Africa and small quantity of imported c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l is regard to transfer pricing adjustment on account of trade receivables for which the ld. TPO had made following observations :- 8. Transfer Pricing Adjustment on account of trade receivables :- Para 8.3.23. The details of invoices raised and payment received there upon and the resulting interest chargeable is given below :- S.N o. Date of invoice Amount in USD Equivalen t Amount Date of receipt Differenc e of days Difference of days- 30 Interest @ 12.83% 1. Tuesday, December 31,2013 150217 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. Monday, March 31,2014 41872 2516499 Tuesday , July 15, 2014 106 76.00 67227.06 8. Monday, March 31,2014 3274.18 196778 Tuesday , July 15, 2014 106 76.00 5256818 Total 32205748 4. The Ld. First Appellate Authority had directed AO/ TPO to verify the claim of the appellant that interest is not charged on outstanding receivables either fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iv) That the appellant are craves to add, alter, amend or forego any ground(s} of the appeal raised above at the time of hearing. (v) That the grounds of appeal are without prejudice to each other. 5. Heard and perused the record. 6. Ld. DR submitted that there has been inconsistent approach of the assessee before the TPO and Ld. First Appellate Authority and the Ld. FAA has gone beyond it s jurisdiction to restore the matter back to the AO as the same amounts to allowing the appeal in regard to issues which were not under examination before TP. 6.1 On the other hand, Ld. AR submitted that there is no flaw in the findings of ld. CIT(A). He submitted that as such the trade payables exceed the receivables so no question of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ification or which could have been examined and a reasonable conclusion drawn by the TPO or by Ld. CIT(A) himself. It was very much in the knowledge and records of the assessee as to which all Non-AE s the assessee had not charged any interest. So same should have been produced before Ld. CIT(A) at least in physical form than just a bald averment. 10. Thus, as such there was no disputed question of fact before the Ld. CIT(A) requiring intervention in the form of a direction to ld. AO / TPO to verify the claim of the assessee. In fact if these documents / statements or facts were before Ld. CIT(A) that would only have given jurisdiction u/s 250(4) of the Act for direction of verification by Ld. AO. 11. In fact, it is also questionable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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