ADDL CIT 8(3), MUMBAI V. TARA ULTIMO P. LTD, MUMBAI

ITA 5827/MUM/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 59674 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2012
• Appeal Filed By: Department
• Bench Allotted: H
• Next Hearing Date: 05-01-2012
• Assessment Year: 2005-2006
• Appeal Filed On: 19-07-2010
• Court: TRIBUNAL
• Department Lawyers: GOLI SRINIWAS RAO
• Keywords: Transfer pricing

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH H BEFORE SHRI J. SUDHAKAR REDDY(AM) & SHRI V.DURGA RA O(JM) I.T.A.NO. 5827/MUM/2010 (ASSESSMENT YEAR : 2005-06) DCIT 8(3) ROOM NO. 217, AAYAKAR BHAVAN M.K. ROAD MUMBAI-400 020. VS. TARA ULTIMO PRIVATE LIMITED PLOT NO. 29(P), & 30(P) SUB PLOT A SEEPZ, MUMBAI-400 096. APPLICANT RESPONDENT PAN/GIR NO. : AABCT3846M ASSESSEE BY : NONE DEPARTMENT BY : SHRI GOLI SRINIWAS RAO DATE OF HEARING : 5.1.2012 DATE OF PRONOUNCEMENT : ORDER PER J. SUDHAKAR REDDY(AM) :- THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-15, MUMBAI DATED 7.5.2010 FOR A.Y. 2 005-06 ON THE FOLLOWING GROUNDS :- ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, LEARNED CIT(A) ERRED IN DELETING THE ADDITION MADE ON ACCOU NT OF TRANSFER PRICING ADJUSTMENT AMOUNTING TO ` 6,08,97,572/-. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE DESPITE SERVICE OF NOTICE BY RPAD. THERE IS NO REQUEST FOR ADJOURNMENT EITHER . UNDER THE CIRCUMSTANCES, WE DISPOSE OF THE CASE EX-PARTE ON M ERITS, QUA THE ASSESSEE AFTER HEARING LEARNED DEPARTMENTAL REPRESE NTATIVE. 3. WE HAVE HEARD MR. GOLI SRINIWAS RAO, LEARNED CIT DEPARTMENTAL REPRESENTATIVE. H BENCH OF THE TRIBUNAL IN ITA NO . 5098/MUM/2010 DATED 7.9.2011, IN ASSESSEES OWN CASE FOR EARLIER ASSESSMENT YEAR AND RESTORED THE MATTER TO THE FILE OF LEARNED CIT(A) F OR FRESH ADJUDICATION, IN THE LIGHT OF THE OBSERVATIONS MADE IN THAT ORDER. TARA ULTIMO PRIVATE LIMITED 2 4. L1 BENCH OF THE TRIBUNAL IN ASSESSEES OWN CAS E IN ITA NO. 5644/MUM/2008 AND OTHERS FOR A.Y. 2004-05, HAS CONS IDERED CERTAIN SUBMISSIONS OF THE ASSESSEE AND ALLOWED THE APPEAL FOR STATISTICAL PURPOSES. THE ASSESSEE HAD ADMITTED THAT IT HAS ACC EPTED AN ADOPTION OF TNMM. 5. CONSISTENT WITH THE VIEW TAKEN IN THESE TWO ORDE RS BY THE CO- ORDINATE BENCH IN ASSESSEES OWN CASE FOR A.Y. 2004 -05, WE SET ASIDE THE MATTER TO THE FILE OF LEARNED CIT(A) FOR FRESH ADJU DICATION. 6. IN THE RESULT, APPEAL OF THE REVENUE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER HAS BEEN PRONOUNCED ON 13 TH DAY OF JANUARY, 2012. SD/- (V. DURGA RAO) JUDICIAL MEMBER SD/- (J. SUDHAKAR REDDY) ACCOUNTANT MEMBER DATED : 13 TH JANUARY, 2012. COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A)-CONCERNED. 4. THE CIT, CONCERNED. 5. THE DR CONCERNED, MUMBAI 6. GUARD FILE BY ORDER TRUE COPY ASSTT. REGISTRAR, ITAT, MUMBAI PS