M/s. Eli Lilly & Co. (India) Pvt.Ltd., New Delhi V. ACIT, Gurgaon

ITA 86/DEL/2013

• Counselvise Citation: [2014] 120 COUNSELVISE.COM (IT) 7408 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Next Hearing Date: 27-08-2014
• Assessment Year: 2008-2009
• Appeal Filed On: 04-01-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: YOGESH KUMAR VERMA
• Assessee Lawyers: NEERAJ K JAIN; ABHISHEK AGARWAL S
• Keywords: Transfer pricing
• Section: 143(3); 54; 154; 15

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : I N EW DELHI BEFORE S HRI R.S. SYAL, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K. , JUDICIAL MEMBER ITA NO. 86 / DEL / 201 3 ASSESSMENT YEAR 200 8 - 200 9 ELI LILLY & CO. (INDIA) PVT. LTD. VS. A.C.I.T., CIRC LE - 1, PLOT NO.92, SECTOR - 32, GURGAON. INSTITUTIONAL AREA, I.P. ESTATE, NEW DELHI 122 001 (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI NEERAJ K. JAIN AND SHRI ABHISHEK AGARWAL, ADVOCATES RESPONDENT BY : S HRI YOGESH KUMAR VERMA , CIT . D.R . ORDER PER GEORGE GEORGE K., J . M : 1. THIS APPEAL AT THE INSTANCE OF THE ASSESSEE IS DIRECTED AGAINST THE ASSESSMENT ORDER DATED 29.10.2012 PASSED U /S 143(3) R.W.S . 144C OF THE I NCOME TAX ACT, 1961 . THE RELEVANT A SSESSMENT YEA R IS 2008 - 09. 2. THE ASSESSEE HAS RAISED SEVERAL GROUNDS WITH REGARD TO T RANSFER P RICING ADJUSTMENT . 3. WHEN APPEAL WAS TAKEN UP FOR HEARING, THE LEARNED A.R. SUBMITTED THAT THIS APPEAL HAS BECOME INFRUCTUOUS, SINCE T.P. ADJUSTMENT HAS BEEN R EVISED TO NIL IN PLACE OF RS.1,43,96,719/ - VIDE TPO ORDER DATED 12.06.2014 PASSED U/S 1 5 4 READ WITH SECTION 92CA ( 5 ) OF THE I.T. ACT. ITA NO. 86/DEL/ 2013 2 4 . LD. D.R. PRESENT WAS DULY HEARD. 5 . WE HAVE HEARD RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. TPO IN HIS O RIGINAL ORDER DATED 30.10.2011 HAD PROPOSED AN ADJUSTMENT OF RS.2,17,23,718/ - . LATER , WHILE GIVING EFFECT TO DIRECTIONS OF THE HONBLE DRP , THE ADJUSTMENT WAS REDUCED TO RS.1,43,96,719/ - . THE ASSESSEE HAD FILED RECTIFICATION APPLICATION BEFORE THE TPO (REC TIFICATION APPLICATION DATED 07.02.2014). THE TPO DISPOSED OF F THE RECTIFICATION APPLICATION VIDE HIS ORDER DATED 12.06.2014 , WHEREIN THE ADJUSTMENT WAS REVISED TO NIL . THEREFORE, THIS APPEAL CHALLENGING THE TRANSFER PRICING ADJUSTMENT AMOUNTING TO RS.1, 43,96,719 HAS BECOME INFRUCTUOUS , I N VIEW OF THE TPO ORDER DATED 12.06.2014 PASSED U /S 154 OF THE I.T. ACT R .W.S. 92CA (5) OF THE ACT. 6. HENCE , THIS APPEAL IS DISMISSED AS INFRUCTUOUS. IT IS ORDER ACCORDINGLY. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 28 .0 8 .2014 SD/ - SD/ - ( R.S. SYAL ) ( GEORGE GEORGE K. ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 28 .0 8 .2014 A KS* COPY OF THE ORDER FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT (APPEALS) CONCERNED 4. CIT CONCERNED 5. D.R., ITAT, ASSISTANT REGISTRAR