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Income Tax Appellate Tribunal, DELHI BENCH ‘I’, NEW DELHI
Before: Dr. B. R. R. KumarSh. Yogesh Kumar US
Per Dr. B. R. R. Kumar, Accountant Member:
The present appeal has been filed by the Revenue against the order of the ld. CIT(A)-22, New Delhi dated 01.08.2016.
Vide order dated 11.10.2022 in and ITA No. 5472/Del/2013 for the A.Y. 2015-16, the Co-ordinate Bench of ITAT set aside the quantum issue to the file of the Assessing Officer for benchmarking the International transaction separately, segment wise with suitable comparables and decide the issue afresh. Hence, no penalty can be leviable at this juncture. The AO is at liberty to initiate the penalty proceedings on conclusion of the assessment as directed by the Tribunal in the order dated 11.10.2022.
2 Whirlpool of India Ltd. 3. In the result, the appeal of the Revenue is dismissed. Order Pronounced in the Open Court on 10/03/2023.