9911796707
TMI Blog2024 (11) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... d adequate documentation to substantiate the benefits received from availing of the intra- group services. The appellant also submitted a comprehensive Factual Paper Book containing detailed evidence including additional evidence which, according to the appellant, have not been considered either by the Ld. AO or by the Hon ble DRP Ld. DRP. Thus, we find it proper to send the matter back to the file of the Assessing officer with a direction to consider the details submitted by the appellant and decide the issues afresh by providing the appellant adequate opportunity of being heard to determine the correct income of the appellant. Appeal is allowed for statistical purpose. - Shri Amit Shukla, Judicial Member And Shri Ratnesh Nandan Sahay, A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly, the notice u/s. 92CA of the Act dated 30/06/2021 and notice calling for certain information dated 07/07/2021 was issued requiring the appellant to furnish the details called for in support of the said transactions. In response to these notices, the appellant submitted the details from time to time on ITBA portal which was duly considered by the TPO who determined the arm s length price (ALP) and made adjustment of Rs. 21,80,43,129/- relating to the international transactions entered into by the appellant company on account of payment of group fee and sent it back to the file of the Ld. AO for final order. The Ld. AO of the National e- assessment Centre passed a draft assessment order on 18/09/2021 u/s. 143(3) of the Income Tax Act and s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder, we wish to raise the below grounds of objection: Transfer Pricing grounds Reference to the TPO 3. erred in making a reference of the Appellant's case to the TPO, without complying to provisions of Section 92CA, thereby making a transfer pricing ('TP') adjustment of Rs. 21,80,43,129 wherein out of Rs. 22,14,80,629 paid in respect of the international transaction of availing of intra- group services, the TPO has held only Rs. 34,37,500 to be at arm's length; Disregarding benefit test documents for availing services 4. erred in disregarding the documentary evidence submitted by the Appellant to substantiate actual receipt of services and benefits derived therefrom and alleging that the Appellant has not submitted adequate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pricing regulations prescribed in India; 10. erred in not appreciating that one of the basic conditions for applying CUP is availability of the price of the same service in uncontrolled condition and it cannot be hypothetical or imaginary value but real value on which similar transactions have taken place; Corporate tax grounds Disallowance of business purchases as bogus 11. erred in disallowing business purchases amounting to Rs. 85,87,489 by stating that the same are bogus in nature on the pretext that the identified vendors have failed to file ITR/ filed non- business ITR for the year under consideration and thereby, implying that the said vendors are not undertaking any business transactions. erred in not appreciating the documentary e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aking an addition of Rs. 9,33,311 (basis the intimation issued under Section 143(1) of the Act) on account of alleged inconsistency in allowance under Section 43B of the Act between the return of income and Tax Audit Report. erred in not appreciating the documentary evidence/supporting furnished by the appellant before the Learned AO substantiating the various date of payments in relation to the amount of Rs. 9,33,311. Your Appellant prays for deleting the addition made to the total income of the Appellant under Section 43B of the Act of Rs. 9,33,311. Short grant of credit of taxes deducted at source 15. has erred in granting short credit of taxes deducted at source amounting to Rs. 5,62,031. Your Appellant prays for directions to be given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... O has erred in making additions to the total taxable income without issuing a show cause notice as per the provisions of the Act and thereby not providing DSV India an opportunity of being heard. Further, the ld.AO erred in disregarding the documentary evidence submitted by the Appellant to substantiate actual receipt of services and benefits derived therefrom and alleging that the Appellant has not submitted adequate documentation to substantiate the benefits received from availing of the intra- group services; 6. The appellant also submitted a comprehensive Factual Paper Book containing detailed evidence including additional evidence which, according to the appellant, have not been considered either by the Ld. AO or by the Hon ble DRP Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
