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TMI Blog2022 (7) TMI 1388X X X X Extracts X X X X X X X X Extracts X X X X ..... ;distribution segment', 'provision of research and engineering', 'provision of administrative services' and 'import of Rynaxpyr Technical'. The assessee also filed additional evidences in support of its contention. There is no discussion by the learned DRP in respect of additional evidences and the objections raised by the assessee before the DRP. DR could not point out from the direction of learned DRP about the disposal of the additional grounds and submissions of the assessee company. During the course of hearing learned representatives of the parties stated that the matter may be remanded to the learned DRP for deciding the additional grounds. Therefore,we hereby set aside the impugned order and restore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled objections before the DRP. The DRP rejected the objections vide directions dated 19.01.2022, without considering the facts, submissions and additional grounds submitted by the assessee company. 3. Pursuant to the DRP directions the TPO passed an order dated 8.02.2022, giving effect to the directions given by the DRP. Thereafter, the Assessing Officer passed the final assessment order dated 17.02.2022, assessing the total income of the assessee at INR 363,15,86,320. 4. Aggrieved against the directions of the DRP, the assessee filed a writ petition before the Hon'ble High Court of Delhi being W.P. (C) No. 3001/2022, on 15.02.2022. However, the Assessing Officer had passed the final assessment order on 17.02.2022. In view thereo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;, 'provision of administrative services' and 'import of Rynaxpyr Technical'. He contended that there is no discussion regarding the objections raised by the assessee. In fact the assessee vide letter dated 12.11.2021 had filed additional ground in respect of the light processing segment and had also filed additional evidences for claiming working capital adjustment, risk adjustment and custom duty adjustment, however, no finding or discussion has been made regarding them. This stoic silence by the DRP evidences complete non-application of mind by them and renders the directions issued by them along with the final assessment order non-est in the eyes of law. He contended that not only that, the DRP has not given any finding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Ld. TPO has made generalised statements without commenting specifically on the grounds and evidences submitted, which we understand is the essential requirement of any remand report. We submit the following in relation to the remand report:- a) In Para 3 of remand report, the Ld. TPO has stated that additional evidences submitted by the Assessee at this stage is not acceptable as the Assessee had given sufficient opportunities during the course of TP proceedings. We understand that there is no embargo in Law to submit additional evidences before DRP and even additional evidences can be submitted before the Income Tax Appellate Tribunal, which is the last fact finding authority Since the comment made by TPO is without any soun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M. It is settled law that comments from the Revenue Authorities should be based on facts and not on assumptions. Without even looking into the matrix and methodology adopted by the assessee to carry out the search, TPO proceeded to make comments on assumptions with a pre set notion to reject the contentions of the assessee. During Transfer Pricing Assessment, the Ld. TPO added 12 fresh comparables in addition to the comparables selected by the Assessee, ignoring the fact that those companies were functionally dissimilar and Assessee has not been provided with the search strategy/strings applied by the Ld. TPO despite having specifically requested for the same vide its email dated 27 December, 2020 (enclosed at Pg. 647 - 649 of Vol. B). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owing points: Adjustment on account of difference in Risk Profile Adjustment on account of difference in working capital Claim for Custom Duty Adjustment in Light Processing and Distribution Segment No interest charged from third party customer and vendors Ld. TPO has vaguely stated that documents submitted in the form of additional evidence are irreverent and not admitted. He has not made effort to go through the submission and workings furnished by Assessee. Hence, we request Hon'ble Panel to allow us relief on above points. We hope that your goodself would find the abovementioned information in order. It is humbly prayed that the additional grounds/evidences should be considered and necessary relief may ..... X X X X Extracts X X X X X X X X Extracts X X X X
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