{"id":47138,"date":"2024-10-17T12:21:03","date_gmt":"2024-10-17T06:51:03","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-sarens-heavy-lift-india-p-ltd-2024299-taxman-293-delhihc\/"},"modified":"2024-10-17T12:21:03","modified_gmt":"2024-10-17T06:51:03","slug":"pcit-v-sarens-heavy-lift-india-p-ltd-2024299-taxman-293-delhihc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-sarens-heavy-lift-india-p-ltd-2024299-taxman-293-delhihc\/","title":{"rendered":"PCIT v. Sarens Heavy Lift India (P.) Ltd. (2024)299 Taxman 293 (Delhi)(HC)"},"content":{"rendered":"<p>Assessee procured cranes from its Associated Enterprise (AE). While computing ALP, TPO took into consideration Written Down Value (WDV) of assets as reflected in books of account of AE. Tribunal held that\u00a0 WDV methodology is to be rejected bearing in mind undisputed mandate of rule 10B which requires identification of ALP from point of view of uncontrolled price method as being referable to a comparable uncontrolled transaction. Tribunal also held that\u00a0 in any case WDV as may be reflected in books of account would clearly not be liable to be taken into consideration while answering issue of ALP. High Court affirmed the order of the Tribunal. (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing-Arm\u2019s length price-Avoidance of tax-<br \/>\nInternational transaction-Written Down Value of assets as may be reflected in books would not be liable to be taken into consideration while answering issue of ALP-No substantial question of law.  [S. 260A, R.10B]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-47138","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cgi","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=47138"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47138\/revisions"}],"predecessor-version":[{"id":47139,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47138\/revisions\/47139"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}