Click Here For Best Books On Taxation & Law. Upto 60% Off On Select Titles. Free Shipping & Pay On Delivery!
 

Click Here To Subscribe To Our Free Newsletter

Home › All Judgements › DCIT vs. Alstom Projects Ltd (ITAT Mumbai)

DCIT vs. Alstom Projects Ltd (ITAT Mumbai)

Posted on by itatbar — No Comments ↓
COURT:
CORAM: ,
SECTION(S): , , ,
GENRE: ,
CATCH WORDS: , ,
COUNSEL:
DATE: October 28, 2015 (Date of pronouncement)
DATE: May 26, 2016 (Date of publication)
AY: 2007-08 & 2008-09
FILE: Click here to download the file in pdf format
CITATION:
(i) Important law laid down on applicability of transfer pricing provisions to non-AEs, Law on (ii) deductibility of unpaid service-tax u/s 43B and (iii) carry forward of losses of amalgamating company u/s 72A and Rule 9C explained

The Tribunal held that

1. TP adjustment was to be restricted only to AE transactions despite the fact that assessee carried out benchmarking at entity level;

2. Revenue’s contention that DRP erred in admitting additional evidence (which was not produced by assessee before AO) in violation of Rule 46A, was invalid since Rule 46A is not applicable to DRP proceedings

3. Disallowance of unpaid service tax could not be made under section 43B where the assessee did not claim the same in its Profit and Loss account.

4. Where the assessee fulfilled all the conditions prescribed under Section 72A read with Rule 9C, the AO could not deny the claim of carry forward of losses pertaining to the amalgamating company.

Related Posts:

  • Umbrella Projects Pvt. Ltd vs. ITO (ITAT Delhi) In view of the above documents and evidences filed by the assessee, we are of the opinion that these are sufficient to discharge its initial onus regarding the identity, creditworthiness and genuineness as required under Section 68 of the Act. The assessee having discharged its onus, it was upon the…
  • DCIT vs. JSW Limited (ITAT Mumbai) In the light of the above discussions, we are of the considered view that rather than taking a pedantic view of the rule requiring pronouncement of orders within 90 days, disregarding the important fact that the entire country was in lockdown, we should compute the period of 90 days by…
  • Shantivijay Jewels Ltd vs. DCIT (ITAT Mumbai) We find that DJ had admitted of issuing bogus bills. But, nowhere he had admitted that he had issued accommodation bills to the assessee. In our opinion, there is subtle but very important difference in issuing bogus bills and issuing accommodation bills to a particular party. The difference becomes very…
  • DCIT vs. Kargwal Products P. Ltd (ITAT Mumbai) The assessment was processed under section 143(1). The assessment was reopened on 29.03.2014 without four year from the end of relevant Assessment Year. We have noted that the Assessing Officer nowhere mentioned in the reasons recorded that any tangible material either from assessment record or from other source has come…
  • DCIT vs. Piramal Realty Pvt. Ltd (ITAT Mumbai) Even amendment to section 68 brought by Finance Act, 2012 does not refer to valuation. The insertion of the proviso to section 68 of the Act by Finance Act, 2012 casts an additional onus on the closely held companies to prove source in the shareholders subscribing to the shares of…
  • Priyanka Chopra vs. DCIT (ITAT Mumbai) As evident in the material obtained by the Revenue during search and seizure, it was only with reference to the search and seizure material that Smt. Madhu Chopra gave a specific amount to various heads wherein the undisclosed income had been utilized. The assessee had also separately accepted the same.…

Related Judgements

  1. DCIT vs. Tata Consultancy Services Ltd (ITAT Mumbai) 

    (c) The AO erred in not himself examining the issue of Transfer Pricing and with the approval of the CIT, made a reference to the TPO u/s 92CA(1) of the Act; that the AO as well as the CIT failed to apply their mind to the TP Report filed…
  2. ACIT vs. Tristar Jewellery Exports Pvt. Ltd (ITAT Mumbai) 

    The reassessment order is as a result of violation of the natural principle of audi alteram partem. A statement recorded at the back of a party cannot be used against such party without confronting such statement to the party. Hence, on this score alone, the reassessment order is unsustainable…
  3. ITO vs. Indore Steel and Iron Mills Ltd (ITAT Mumbai) 

    However, again, it cannot be denied that per the said decision, which is judicially binding on us, the hon’ble court has abundantly clarified that the deduction in respect of the employee’s contribution (to the employee welfare funds) in the hands of the assessee-employer is governed by the provision of…
  4. Daga Global Chemicals Pvt. Ltd vs. ACIT (ITAT Mumbai) 

    The assessee only received Rs.1,82,362 as dividend income, therefore, there is no question of disallowance of Rs.14,58.412 by invoking section 14A r.w. Rule 8D. Disallowance u/s 14A r.w. Rule 8D cannot exceed the exempt income.Read more ›
  5. LÓreal India Private Limited vs. DCIT (ITAT Mumbai) 

    In these circumstances, the fundamental question to be answered is to decide as to whether in absence of any agreement for payment of AMP expenses by the AEs can it be held that there was an international transaction only on the basis that AMP expenditure, incurred by the assessee,…

Leave a Reply

Your email address will not be published. Required fields are marked *

*