2022 (12) TMI 1204

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..... , ARs Revenue by : Dr. Satya Pinisetty, CIT-DR ORDER PER OM PRAKASH KANT, AM This appeal by the assessee is directed against final assessment order dated 31/10/2019 passed by the Ld. Asst. Commissioner of Income-Tax, Circle 16(1), Mumbai, pursuant to the direction of the Ld. Dispute Resolution Panel (in short 'the Ld. DRP') for assessment year 2015-16. The grounds raised by the assessee in .....

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..... observing that the "low" production budget was charged to the broadcasters and the Appellant had indirectly passed "some" benefit to the Associate Enterprise ('AE') through other possible payments, and also for stating that the Appellant was not willing to share the production budget details without appreciating the facts that it was part of the agreement submitted during the DR proceedings. .....

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..... deemed AEs, and that the cost of production is only the direct cost which has in fact been recovered from the deemed AEs and is part of the revenues from the deemed As as reflected in the Appellant's Form 3CEB. 8. The learned AO has grossly erred in initiating penalty proceedings under section 271(1Xc) of the Act." 2. Before us the assessee has not pressed the ground No. one, ground Nos. .....

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..... g before the Ld. DRP. The assessee submitted before us that it wish to submit following documents as additional evidence: 1. confirmation from Fremantle media Ltd stating that all the transactions that it had undertaken with the two third-party broadcaster in India and the format license fee stated therein are the only income that are sourced by the AE from the aforementioned broadcaster. 2. .....

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..... al and important for adjudicating the issue dispute, same are admitted as additional evidence in terms of Rule 29 of ITAT Rules, 1963 and issue-in-dispute involved in ground No. 2 to 5 of the appeal in relation to adjustment to the deemed international transactions is restored back to the file of the Ld. AO/TPO for deciding afresh after providing adequate opportunity of being heard to the assessee .....

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