Dongfang Electric (India) Private Limited, Kolkata V. D.C.I.T., Circle - 14(1), Kolkata, Kolkata

ITA 2356/KOL/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0874 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-03-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2013-2014
• Appeal Filed On: 20-11-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Related party transaction; Transfer pricing; Principle of natural justice; International transaction
• Section: 143(3); 143(1)

Judgement Text

ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA C BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, VICE-PRESIDENT (KZ) AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 2356/KOL/2017 ASSESSMENT YEAR: 2013-2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED,......... ...............APPELLANT PLOT NO. AH-5, PREMISES NO. 16-1111, NEW TOWN, ACTION AREA-IA, KOLKATA-700 156 [PAN: AACCD 9336 K] -VS.- DEPUTY COMMISSIONER OF INCOME TAX,................. ................RESPONDENT CIRCLE-14(1), KOLKATA, AAYAKAR BHAWAN POORVA, 6 TH FLOOR, ROOM NO. 616, 110, SHANTIPALLY, E.M. BYE PASS, KOLKATA-700 107 APPEARANCES BY: SHRI NAGESHWAR RAO ADVOCATE & SHRI AMIT SHARMA, CA, FOR THE APPELLANT DR. P.K. SRIHARI, CIT, D.R. , FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : JANUARY 24, 2019 DATE OF PRONOUNCING THE ORDER : MARCH 27, 2019 O R D E R PER SHRI P.M. JAGTAP, VICE-PRESIDENT (KZ):- THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER OF LD. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-14(1), KO LKATA (ASSESSING OFFICER) DATED 18.09.2017 PASSED UNDER SECTION 143( 3) READ WITH SECTION 144C(5) OF THE INCOME TAX ACT, 1961. 2. THE ASSESSEE IN THE PRESENT CASE IS A COMPANY, W HICH IS ENGAGED IN THE BUSINESS OF SUPERVISION OF ERECTION & COMMISSIO N, REPAIRS & MAINTENANCE AND SUPPLY OF SPARE PARTS FOR VARIOUS P OWER PLANTS AND ALSO IN CONSULTING ENGINEERING AND BUSINESS AUXILIARIES. THE RETURN OF INCOME FOR THE YEAR UNDER CONSIDERATION WAS FILED BY IT ON 29.11.2013 DECLARING TOTAL INCOME OF RS.6,73,46,720/-. AS NOTED BY THE A SSESSING OFFICER, THE ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 2 ASSESSEE-COMPANY DURING THE YEAR UNDER CONSIDERATIO N HAD ENTERED INTO THE FOLLOWING INTERNATIONAL TRANSACTIONS WITH ITS A SSOCIATED ENTERPRISE:- (I) IMPORT OF SPARE PARTS VALUED RS.19,42,22,986/-; (II) ROYALTY AND FEES FOR TECHNICAL SERVICES-RS.66, 62,154/-. IN ORDER TO DETERMINE THE ARMS LENGTH PRICE OF THE ABOVEMENTIONED INTERNATIONAL TRANSACTIONS ENTERED INTO BY THE ASSE SSEE-COMPANY, A REFERENCE WAS MADE BY THE ASSESSING OFFICER TO THE TRANSFER PRICING OFFICER (TPO) UNDER SECTION 92CA(1) OF THE ACT. IN THE ORDER PASSED UNDER SECTION 92CA(3) OF THE ACT DATED 28.10.2016, THE TP O DETERMINED THE ARMS LENGTH PRICE OF THE INTERNATIONAL TRANSACTION S ENTERED INTO BY THE ASSESSEE-COMPANY WITH ITS ASSOCIATED ENTERPRISE (AE ) IN TECHNICAL SERVICES SEGMENT AT RS.62,23,490/- AS AGAINST THE V ALUE OF RS.66,62,154/- PAID BY THE ASSESSEE-COMPANY TO ITS AE AND WORKED O UT THE TRANSFER PRICING ADJUSTMENT TO BE MADE IN RESPECT OF THESE T RANSACTIONS AT RS.4,38,664/-. AS REGARDS THE TRADING SEGMENT INVOL VING IMPORT OF SPARE PARTS BY THE ASSESSEE-COMPANY FROM ITS AE, THE ARM S LENGTH PRICE OF THE RELEVANT TRANSACTIONS WAS DETERMINED BY THE TPO AT RS.18,55,42,179/- AS AGAINST THE PRICE OF RS.19,42,22,986/- PAID BY THE ASSESSEE AND ACCORDINGLY THE TRANSFER PRICING ADJUSTMENT IN RESP ECT OF THESE TRANSACTIONS WAS DETERMINED BY HIM AT RS.86,80,807/ -. TOTAL TRANSFER PRICING ADJUSTMENT TO BE MADE ON ACCOUNT OF THE INT ERNATIONAL TRANSACTIONS OF THE ASSESSEE WITH ITS AE THUS WAS W ORKED OUT BY THE TPO AT RS.91,19,471/-. 3. ON THE RECEIPT OF THE ORDER UNDER SECTION 92CA(3 ) FROM THE TPO, DRAFT ASSESSMENT ORDER DATED 25.11.2011 WAS PASSED BY THE ASSESSING OFFICER MAKING ADDITION OF RS.91,19,471/- TO THE TO TAL INCOME OF THE ASSESSEE ON ACCOUNT OF TRANSFER PRICING ADJUSTMENT AS WORKED OUT BY THE TPO. AGAINST THE DRAFT ASSESSMENT ORDER OF THE ASSE SSING OFFICER, THE ASSESSEE-COMPANY FILED ITS OBJECTIONS BEFORE THE DI SPUTE RESOLUTION PANEL (DRP) AND AS PER THE DIRECTIONS GIVEN BY THE DRP VI DE ITS ORDER DATED ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 3 25.07.2017 PASSED UNDER SECTION 144C(5) OF THE ACT, THE TRANSFER PRICING ADJUSTMENT TO BE MADE IN THE CASE OF THE ASSESSEE W AS RECOMPUTED BY THE TPO AT RS.80,17,341/- (TECHNICAL SERVICE SEGMENT RS .5,31,750/- AND TRADING SEGMENT RS.74,85,591/-). ACCORDINGLY IN THE ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) READ WITH SE CTION 144C(5) OF THE ACT ON 18.09.2017, ADDITION ON ACCOUNT OF TRANSFER PRICING ADJUSTMENT OF RS.80,17,341/- WAS MADE TO THE TOTAL INCOME OF THE ASSESSEE. 4. AGGRIEVED BY THE ORDER OF THE ASSESSING OFFICER PASSED UNDER SECTION 143(3) READ WITH SECTION 144C(5) OF THE ACT , THE ASSESSEE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL ON THE FO LLOWING GROUNDS:- 1. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, ADJUSTMENTS MADE TO RETURNED INCOME VIDE IMPUGNED O RDER OF ASSESSMENT FRAMED BY THE LD. AO IN PURSUANCE TO THE DIRECTIONS OF THE DRP UNDER SECTION 143(3) READ WITH SECTION 1 44C(5) OF THE ACT, ARE BAD IN LAW. 2. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, LD. AO ERRED ON FACTS AND IN LAW IN COMPUTING TOTAL INCOME OF THE APPELLANT AT RS 75,364,056 AGAINST RETURNED TOTAL I NCOME OF RS.67,346,720. 3. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, HON'BLE DRP ERRED IN NOT CONSIDERING THE FACT THAT NO VALID REFERENCE WAS MADE UNDER SECTION 92CA(1) BY LD. AO TO THE TRANSFER PRICING OFFICER ('LD. TPO') FOR COMPUTING THE ARM'S LENGTH PRICE OF THE INTERNATIONAL TRANSACTIONS UNDE RTAKEN BY THE APPELLANT. 4. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, THE HON'BLE DRP HAVE ERRED IN UPHOLDING THE ACTION OF L D. TPO IN REJECTING THE TRANSFER PRICING ('TP') DOCUMENTATION MAINTAINED BY THE COMPANY IN ACCORDANCE WITH THE PROVISIONS OF THE ACT READ WITH THE INCOME TAX RULES, 1962 AND THEREBY UN DERTAKING A FRESH SEARCH AND SUBSEQUENTLY MAKING AN ADJUSTMENT OF RS.7,485,591 W.R.T TRADING SEGMENT AND RS. 531,750 W.R.T TECHNICAL SERVICES AND ROYALTY SEGMENT TO THE INTER NATIONAL TRANSACTIONS ENTERED BY THE COMPANY WITH ITS ASSOCI ATED ENTERPRISES. 5. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, THE HON'BLE DRP HAVE ERRED IN UPHOLDING THE ACTION OF T HE LD. TPO IN NOT PROVIDING THE DETAILED SEARCH PROCESS FOR SELEC TING THE COMPANIES CONSIDERED COMPARABLE BY HIM W.R.T. SPARE S SEGMENT AND SERVICE AND ROYALTY SEGMENT. ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 4 6. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, THE HON'BLE DRP HAS ERRED IN UPHOLDING THE ACTION OF TH E LD. TPO IN REJECTING USE OF MULTIPLE YEAR DATA FOR ANALYSIS AN D DETERMINING THE ARM'S LENGTH MARGIN. 7. THAT, ON THE FACTS AND CIRCUMSTANCES OF THE CASE , WHETHER THE HON'BLE DRP ERRED IN UPHOLDING THE ACTION OF THE LD . TPO IN APPLYING QUANTITATIVE AND QUALITATIVE FILTERS OF SE LECTION OF DATA FOR FY 2012-13 ONLY, RELATED PARTY TRANSACTION S OF MORE THAN 25 PERCENT OF SALES AND EXPENDITURE COMBINED, DIMINISHING REVENUE AND DIFFERENT YEAR ENDING, WITHOUT APPRECIA TING THE SPECIFIC OBJECTIONS OF THE ASSESSEE . 8. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, THE HON'BLE DRP HAS ERRED IN UPHOLDING THE ACTION OF TH E LD. TPO IN REJECTING THE MOST APPROPRIATE METHOD I.E. RESALE P RICE METHOD ('RPM') ADOPTED BY THE APPELLANT FOR BENCHMARKING T HE INTERNATIONAL TRANSACTION OF IMPORT OF SPARES (TRAD ING SEGMENT). 9(A) THAT, ON THE FACTS AND CIRCUMSTANCES OF THE CA SE AND IN LAW, THE HON'BLE DRP ERRED IN UPHOLDING THE SELECTI ON OF COMPARABLE COMPANIES (ACROPETAL TECHNOLOGIES LTD AN D TATA CONSULTING ENGINEERS LTD.) AS DONE BY THE LD. TPO F OR TECHNICAL SERVICES AND ROYALTY SEGMENT. 9(B) THAT, ON THE FACTS AND CIRCUMSTANCES OF THE CA SE AND IN LAW, THE HON'BLE DRP ERRED IN UPHOLDING THE REJECTI ON OF COMPARABLE COMPANIES (CADES DIGITECH PVT. LTD. AND TELECOMMUNICATIONS CONSULTANTS INDIA LTD.) AS SELEC TED BY THE APPELLANT FOR TECHNICAL SERVICES AND ROYALTY SEGMEN T. 9(C) THAT, ON THE FACTS AND CIRCUMSTANCES OF THE CA SE AND IN LAW, THE LD. TPO HAS ERRED IN NOT CONSIDERING THE D IRECTIONS OF THE HON'BLE DRP FOR THE SELECTION OF THE COMPARABLE COMPANIES (ACCUSPEED ENGINEERING SERVICES INDIA LIMITED AND M N DASTUR & CO. PVT. UD) FOR DETERMINATION OF ARM'S LENGTH PR ICE W.R.T. TECHNICAL SERVICES AND ROYALTY SEGMENT. 10. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, LD. AO! LD. TPO HAS ERRED IN NOT FOLLOWING THE DIRE CTIONS OF THE HON'BLE DRP IN PROVIDING ADJUSTMENT TO THE MARGINS OF THE FINAL COMPARABLE COMPANIES ON ACCOUNT OF DIFFERENCES IN W ORKING CAPITAL W.R.T. BOTH THE SEGMENTS (SPARES SEGMENT AN D TECHNICAL SERVICES AND ROYALTY SEGMENT) OF THE APPELLANT. 11. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. AO IN THE IMPUGNED ORDER HAS ERRED IN NOT GIVIN G EFFECT TO THE DEMAND OF AY 2013-14 RAISED VIDE INTIMATION UND ER SECTION 143(1) OF THE ACT OF RS 7,380,270 (INCLUDING INTERE ST UNDER ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 5 SECTION 220(2) OF THE ACT OF RS.351,440) ALREADY AD JUSTED WITH REFUND OF AY 2009-10. 12. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. AO IN THE IMPUGNED ORDER HAS ERRED IN LEVYING I NTEREST UNDER SECTION 2348 AND 234C OF THE ACT OF RS.1,565, 590 AND RS.129,437 RESPECTIVELY. 13. THAT, ON THE FACTS AND CIRCUMSTANCES OF THE CAS E AND IN LAW, THE LD. AO HAS ERRED IN INITIATING PENALTY PROCEEDI NGS UNDER SECTIONS 271 (1 )(C) OF THE ACT. 14. THE ABOVE GROUNDS ARE INDEPENDENT AND WITHOUT P REJUDICE TO EACH OTHER. THE APPELLANT CRAVES LEAVE TO ADD, A MEND, SUBSTITUTE OR WITHDRAW ANY GROUNDS OF APPEAL IN THE INTEREST OF NATURAL JUSTICE EITHER BEFORE OR DURING THE COURSE OF APPELLATE PROCEEDINGS. 5. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. THE LD. COUN SEL FOR THE ASSESSEE, AT THE OUTSET, HAS ARGUED THAT THE ISSUE INVOLVED IN G ROUND NO. 10 RELATING TO THE CLAIM OF THE ASSESSEE FOR WORKING CAPITAL ADJUS TMENT. HE HAS SUBMITTED THAT THIS ISSUE RELATING TO THE ASSESSEE S CLAIM FOR WORKING CAPITAL ADJUSTMENT WAS RAISED BY THE ASSESSEE BEFOR E THE DRP AND AFTER CONSIDERING THE OBJECTION RAISED BY THE ASSESSEE IN THIS REGARD, THE DRP GAVE THE FOLLOWING DIRECTIONS TO THE TPO:- WORKING CAPITAL REQUIREMENTS AFFECT THE MARGINS AN D COSTS BECAUSE THIS IS AN IMPLICATION WHICH IS RECOV ERED /RECOVERABLE FROM THE CUSTOMERS. CONSIDERING RULE 10B(30 AND THE FACTS IN THIS CASE, WORKING CAPITAL ADJUSTMENT SHOULD BE MADE PROVIDED RELIABLE DATA IS FURNISHED BY THE ASSESSEE TO THE TPO. THE CLAIM FOR WORKING CAPITAL ADJUSTMENT HAS CONSISTENTLY BEEN ACCEPTED IN SEVERAL DECISIONS OF THE ITAT. CONSIDER ING THE FACTS, THE TPO IS DIRECTED TO GIVE WORKING CAPITAL ADJUSTMENT USING THE METHODOLOGY GIVEN IN ANNEXURE TO CHAPTER III OF OECD GUIDELINES AND APPLY SBI PRIME LENDING RATE (AS ON 30 TH JUNE OF THE RELEVANT FINANCIAL YEAR) AS THE INTEREST RATE. THE ASSESSEE IS DIRECTE D TO PROVIDE THE NECESSARY DATA/DETAILS WITH COMPUTATION OF THE WORKING CAPITAL OF THE TESTED PARTY AND THE COMPARABLES. THE TPO IS DIRECTED TO TAKE THE FOLLOWING CONSIDERA TION WHILE WORKING OUT THE WORKING CAPITAL ADJUSTMENT: ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 6 (A) COMPUTE THE AVERAGE OF OPENING AND CLOSING BALANCES OF INVENTORIES, TRADE DEBTORS/RECEIVABLES, TRADE CREDITORS/PAYABLES OF BOTH THE TESTED PARTY AND THE COMPARABLES ON REVENUE ACCOUNT ONLY. (B) WORK OUT THE NET WORKING CAPITAL RATIO (IN PERCENTAGE) AFTER DIVIDING THE NET WORKING CAPITAL BY OPERATING COST/SALES OR SUCH DENOMINATIONS IS USED IN THE PLR BOTH FOR THE TESTED PARTY AND THE COMPARABLES. (C) DETERMINE THE DIFFERENCE BETWEEN THE TESTED PARTYS RATE WITH THAT OF THE COMPARABLES. (D) THEREAFTER, MULTIPLY THE ABOVE DIFFERENCE BY INTEREST RATE, I.E. SBI PRIME LENDING RATE AS ON 30 TH JUNE OF THE RELEVANT FINANCIAL YEAR. WORKING CAPITA L ADJUSTMENT RELATING TO WORKING CAPITAL WHICH IS ALMOST ALWAYS, RAISED WITHIN THE COUNTRY. THE RELEVANT RATE OF INTEREST IS THE DOMESTIC INTEREST RATE FOR BORROWINGS AND NOT INTERNATIONAL ......... .THE ASSESSEE HAS ALSO NOT CLAIMED THAT ITS WORKING CAPITAL WAS FINANCED THROUGH INTERNATIONAL LENDINGS IN A FOREIGN CURRENCY. THEREFORE, USE OF S BI PLR IS JUSTIFIED. (E) LASTLY, THESE ADJUSTMENTS ARE TO BE ADDED TO THE PROFIT MARGIN, I.E. COMPARATIVE COMPANIES AS FINALL Y DETERMINED IN ACCORDANCE WITH THE DIRECTION OF THIS RATE. (F) THE TPO IS DIRECTED TO COMPUTE THE WORKING CAPITAL MARGINS IN ACCORDANCE WITH THE ABOVE DIRECTIONS. 6. THE LD. COUNSEL FOR THE ASSESSEE HAS CONTENDED T HAT THE AFORESAID DIRECTION SPECIFICALLY GIVEN BY THE DRP FOR ALLOWIN G THE WORKING CAPITAL ADJUSTMENT, HOWEVER, IS NOT FOLLOWED BY THE TPO WHI LE RE-COMPUTING THE QUANTUM OF TRANSFER PRICING ADJUSTMENT AND THIS POS ITION CLEARLY EVIDENT FROM THE ORDER OF THE TPO DATED 20.08.2017 PASSED U NDER SECTION 92CA(3) READ WITH SECTION 144C(5) [PAGES 468 TO 470 OF THE PAPER BOOK] IS NOT DISPUTED EVEN BY THE LD. D.R. WE, THEREFORE, DIRECT THE ASSESSING OFFICER/TPO TO ALLOW THE WORKING CAPITAL ADJUSTMENT WHILE DETERMINING THE ARMS LENGTH PRICE OF THE RELEVANT INTERNATIONA L TRANSACTIONS OF THE ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 7 ASSESSEE WITH ITS AE BY FOLLOWING THESE SPECIFIC DI RECTIONS GIVEN BY THE DRP. GROUND NO. 10 OF THE ASSESESES APPEAL IS ACCO RDINGLY ALLOWED. 7. AS REGARDS THE OTHER GROUNDS RAISED BY THE ASSES SEE IN THIS APPEAL WHILE CHALLENGING THE ADDITION MADE ON ACCOUNT OF T RANSFER PRICING ADJUSTMENT, THE LD. COUNSEL FOR THE ASSESSEE HAS SU BMITTED THAT IF THE ARMS LENGTH PRICE OF THE RELEVANT INTERNATIONAL TR ANSACTIONS OF THE ASSESSEE WITH ITS AE IS RE-COMPUTED BY THE TPO AFTE R ALLOWING THE WORKING CAPITAL ADJUSTMENT AS PER THE SPECIFIC DIRE CTIONS GIVEN BY THE LD. DRP, THE DIFFERENCE BETWEEN THE ARMS LENGTH PRICE SO COMPUTED AND THE PRICE PAID BY THE ASSESSEE WOULD BE WITHIN THE PERM ISSIBLE LIMIT REQUIRING NO ADDITION TO BE MADE TO THE TOTAL INCOM E OF THE ASSESSEE ON ACCOUNT OF TRANSFER PRICING ADJUSTMENT. AS WE HAVE DIRECTED THE ASSESSING OFFICER/TPO TO ALLOW SUCH WORKING CAPITAL ADJUSTMENT AS PER THE SPECIFIC DIRECTIONS GIVEN BY THE DRP, THE OTHER GROUNDS RAISED BY THE ASSESSEE IN THIS APPEAL RELATING TO THE ISSUE OF TR ANSFER PRICING ADJUSTMENT HAVE BECOME INFRUCTUOUS AND EVEN THE LD. COUNSEL FOR THE ASSESSEE HAS ACCEPTED THIS POSITION. WE ACCORDINGLY DISMISS THE SAID GROUNDS AS HAVING BECOME INFRUCTUOUS. 8. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS PAR TLY ALLOWED AS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON MARCH 27, 201 9. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER VICE -PRESIDENT (KZ) KOLKATA, THE 27 TH DAY OF MARCH, 2019 COPIES TO : (1) DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED, PLOT NO. AH-5, PREMISES NO. 16-1111, NEW TOWN, ACTION AREA-IA, KOLKATA-700 156 (2) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-14(1), KOLKATA, ITA NO. 2356/KOL/2017 A.Y. 2013 -2014 DONGFANG ELECTRIC (INDIA) PRIVATE LIMITED 8 AAYAKAR BHAWAN POORVA, 6 TH FLOOR, ROOM NO. 616, 110, SHANTIPALLY, E.M. BYE PASS, KOLKATA-700 107 (3) COMMISSIONER OF INCOME TAX , (4) THE DEPARTMENTAL REPRESENTATIVE (5) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.