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The Tax PublishersITA Nos. 1198 & 1501/PUN/2018
2020 TaxPub(DT) 5511 (Pune-Trib)INCOME TAX ACT, 1961
Section 92C
Where assessee claimed that there was material difference in the claim of depreciation vis-a-vis its comparables, and suitable adjustment was to be allowed in the case of comparables, matter was restored to TPO for deciding afresh in the light of new calculation sheet(s) which assessee was contemplating to file depicting difference in rates of depreciation by assessee as well as comparables warranting adjustment, if any.
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Transfer pricing - Determination of ALP - Comparables and adjustment - Assessee seeking for adjustment on account of material difference in the claim of depreciation vis-a-vis comparables
Assessee engaged in manufacturing resistors, capacitors used in various applications and products entered into international transactions with its AE. It claimed that there was material difference in the claim of depreciation vis-a-vis its comparables, and suitable adjustment was to be allowed in the case of comparables. While calculating the Profit Level Indicator (PLI), Revenue denied this. Assessee submitted that data portraying difference in rates of depreciation could be complied very easily. Held: In the interest of justice impugned order was set aside and matter was restored to TPO for deciding afresh in the light of new calculation sheet(s) which assessee was contemplating to file depicting difference in rates of depreciation by assessee as well as comparables warranting adjustment, if any.
REFERRED :
FAVOUR : Matter remanded.
A.Y. : 2007-08 & 2008-09
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