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TMI Blog2023 (8) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... e sold by AVL List GmPG to third party customer. Therefore, in our considered opinion, if the matter is remanded to the file of A.O to consider the A.E and third party invoice for the Financial Year 2011-12, Invoice and other details submitted by the assessee and decide the said issue afresh, the substantial justice would be rendered. Accordingly, we allow the Grounds of Appeal for statistical purpose with a direction to the A.O. for de-novo consideration for the issue by considering all the invoices and details submitted by the assessee in the right perspective and pass order in accordance with law. Appeal of the assessee is allowed for statistical purpose. - I.T.A. No. 4017/DEL/2018 - - - Dated:- 13-3-2023 - SHRI ANIL CHATURVED ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowing mark-up for assets ( smoked meter and heating channel ) purchased by Appellant for which the additional evidences were filed before the C!T(A); 4. That on the facts and in the circumstances of the case and in law, the Ld. C!T(A) further disregarded rectification application filed in respect of purchase of certain fixed assets smoked meter and heating channel purchased by AVL Technical. 5. That on the facts and circumstances of the case and in law, the Ld. C!T(A) / Ld. TPO erred in rejecting the Transactional Net Margin Method (TNMM'), wherein closely linked transactions were benchmarked together and instead segregating the closely linked transaction of import of fixed assets, for the purpose of benchmarking. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment determined u/s 92CA of the Act. In the draft orders along with the TP addition, proposed to disallow Staff Welfare Expenses amounting to Rs. 1,21,599/- being 5% of 24,31,798/- on ad- hoc basis. The final assessment order came to be passed on 28/03/2016 by A.O by assessing the income of the assessee as under:- Returned Income Rs. 17,960/- Add: Adjustment u/s 92CA, on account of purchase of FA Rs.32,70,164/- Add: Disallowance of staff welfare expenses Rs.1,21,590/- Assessed Income Rs.34,09,710 4. Aggrieved by the final assessment order dated 28/03/2016, the assessee pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Further submitted that the TPO/CIT(A) did not refer to invoice No. 3011101638 dated 3 rd November, 2011, wherein the aforesaid assets were sold by AVL List GmBG to 3rd party customer (invoice to Ashok Leyland Ltd) Financial Year 2011-12. The Ld. Counsel had also enclosed Invoice No. 3011101638 dated 3 rd November, 2011, wherein the aforesaid assets were sold by AVL List GmBG to third party customer (invoiced to Ashok Leyland Ltd.) during the Financial Year 2011-12. The assessee had further enclosed Invoice No. 3081120881 dated November, 10th 2011, wherein the aforesaid assets were sold by AVL List GmbH to the assessee during Financial Year 2011-12. The comparison of price charged to the assessee vis- -vis third parties are given as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may be remanded to the file of A.O. to verify the details. 8. We have heard the parties perused the material available on record and gave our thoughtful consideration. It is the specific case of the assessee is that the CIT(A) has relied on the remand report of the TPO without appreciating that TPO in relation to smoke meter and heating channel looked only at A.E and third party invoice A.O for Financial Year 2010-11 and over looked the A.E and third party invoice for impugned Financial Year 2011-12 and did not refer to Invoice No. 3011101638 dated 03/11/2021 wherein the aforesaid asset were sold by AVL List GmPG to third party customer. Therefore, in our considered opinion, if the matter is remanded to the file of A.O to consider t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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