DCM SHRIRAM INDUSTRIES LTD,NEW DELHI vs. ADDI. CIT SPECIAL RANGE-3, NEW DELHI

ITA 1841/DEL/2020Status: DisposedITAT Delhi15 March 2023AY 2015-1628 pages
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What did the Tribunal hold?

The Tribunal held that the AO misrepresented facts regarding appeals filed by the revenue, and since no appeal was filed against the CIT(A)'s order for AY 2015-16, the additions made by the AO for transfer pricing adjustments on power and steam were deleted. For other issues, the Tribunal restored them to the AO for verification.

What were the facts?

The assessee, engaged in manufacturing, transferred power and steam between eligible and non-eligible units. The Transfer Pricing Officer (TPO) made adjustments to the arm's length price (ALP) of these transactions. The Assessing Officer (AO) made additions based on the TPO's adjustments, despite the Dispute Resolution Panel (DRP) directing deletion if no appeal was filed by the revenue against a prior year's deletion by the CIT(A).

What were the issues?

Whether transfer pricing adjustments for inter-unit transfer of power and steam were correctly made by the TPO and sustained by the AO, and whether computational errors in the assessment order warrant rectification.

Which sections of the Income-tax Act were involved?

Section 80IA,Section 115JB,Section 133(6),Section 154

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Cases cited in this judgment(10)Show list

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Income Tax Appellate Tribunal, DELHI BENCH: ‘I’ NEW DELHI

Before: SHRI G.S. PANNU, HON’BLE & SHRI SAKTIJIT DEY

For Appellant: CA Sh. Ravi Kumar, CA
Hearing: 17.02.2023Pronounced: 15.03.2023

PER SAKTIJIT DEY, JM: Captioned appeals have been filed by the assessee against

an order passed by learned Commissioner of Income Tax

(Appeals) in assessment year 2015-16 and final assessment

ITA No.1000/Del/2022; 539/Del/2021 & 1841/Del/2020

orders passed for assessment years 2016-17 and 2017-18. Since,

the issues raised in these appeals are, more or less, identical;

they have been clubbed together and disposed of in a common

order, for the sake of convenience.

2.

The first issue arising for consideration is, transfer pricing

adjustment of Rs. 9,70,87,302/- to the arm’s length price (ALP) of the spec

The order continues below.

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