VIRGO ENGINEERS LTD, PUNE V. ADDL CIT WD 10(3), MUMBAI

ITA 6135/MUM/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93017 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-06-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Next Hearing Date: 23-06-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 01-10-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Transfer pricing
• Section: 14A

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL K BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN (AM) AND AMIT SHUKLA, (JM) . . , , ./ I.T .A. NO. 6135 / MUM/20 1 4 ( / ASSESSMENT YEAR : 20 09 - 10 ) M/S VIRGO ENGINEERS LTD., SINCE AMALGAMATED WITH VIRGO VALVES AND CONTROL PRIVATE LIMITED, 277, HINJEWADI,PHASE II, MANN - MULSHI, PUNE - 411057. / VS. ADD. COMMISSIONER OF INCOM E TAX WARD 10(3), AAYAK A R BHAV AN , M K ROAD, MUMBAI - 400020. ( / APPELLANT ) .. ( / RESPONDENT ) ./ ./PAN/GIR NO. : AAACV1586H / APPELLANT BY NONE / RSPONDENT BY SHRI N PAD MANABHAN / DATE OF HEARING : 2 3 . 6 . 201 5 / DATE OF PRONOUNCEMENT : 23 . 6 . 201 5 / O R D E R PER B.R. BASKARAN (AM) THE ASSESSEE HAS FILED THIS APPEAL CHALLENGING THE ORDE R PASSED BY LD CIT(A) - 15, MUMBAI FOR ASSESSMENT YEAR 2009 - 10 ON THE FOLLOWING ISSUES: - ( A ) DISALLOWANCE U/S 14A OF THE ACT. ( B ) ADDITION OF UN - RECONCILED INCOME AS PER ITS RECORDS & BOOKS ( C ) ADDITION OF INTEREST INCOME BASED ON TDS CERTIFICATE ( D ) TRANSFER PRICING ADJ USTMENT ON ACCOUNT OF NON - CHARGING OF INTEREST. ( E ) TRANSFER PRICING ADJUSTMENT ON ACCOUNT OF GUARANTEE GIVEN. ITA NO. 6135 / MUM/20 1 4 2 2. THOUGH THE NOTICE OF HEARING WAS SENT TO THE ASSESSEE BY REGISTERED POST ON THE EARLIER OCCASION, NONE APPEARED ON BEHALF OF THE ASSESSEE AND HENCE WE PROCEED TO DISPOSE OF THE APPEAL EX - PARTE, WITHOUT THE PRESENCE OF THE ASSESSEE. 3. WE HEARD LD D.R AND PERUSED THE RECORD. WE HAVE GONE THROUGH THE ORDER PASSED BY LD CIT(A) ON THE ABOVE SAID ISSUES. WE NOTICE THAT THE ASSESSEE DID NOT FI LE ANY DOCUMENT BEFORE US TO CONTRADICT THE FINDINGS GIVEN BY THE FIRST APPELLATE AUTHORITY. UNDER THESE SET OF FACTS, WE DO NOT FIND ANY INFIRMITY IN THE ORDER PASSED BY LD CIT(A) ON ALL THE ISSUES REFERRED ABOVE. ACCORDINGLY, WE CONFIRM HIS ORDER. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. PRONOUNCED ACCORDINGLY ON 23 RD JUNE, 2015. 23RD JUNE , 2015 SD SD ( / AMIT SHUKLA ) ( . . / B.R. BASKARAN) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI: 23RD JUNE ,2015 . . . ./ SRL , SR. PS / C OPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - CONCERNED 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI CONCERNED 6. / GUARD FILE. / BY ORDER, TRUE COPY (ASSTT. REGISTRAR) , /ITAT, MUMBAI