UPS EXPRESS PRIVATE LIMITED (FORMERLY KNOWN AS UPS JETAIR EXPRESS PRIVATE LIMITED),MUMBAI vs. DY.CIT 3(1) (1) ADDL/JT/DY/CIT/ITO/NFAC-DELHI, MUMBAI

ITA 2439/MUM/2022Status: DisposedITAT Mumbai16 October 2023AY 2018-1943 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal allowed the appeal regarding the reimbursement of expenses by deleting the adjustment, following previous year's decisions. For dividend distribution tax and TDS, the issues were remanded to the Assessing Officer for fresh consideration with specific directions.

What were the facts?

The assessee, UPS Express Pvt. Ltd., challenged transfer pricing adjustments made by the TPO and upheld by the DRP for AY 2018-19. The adjustments pertained to technical knowhow fees and reimbursement of expenses. The assessee also disputed interest charged on dividend distribution tax and short credit for TDS.

What were the issues?

Whether the transfer pricing adjustments for technical knowhow fees and reimbursement of expenses were justified, and whether interest on dividend distribution tax and TDS credit were correctly handled.

Which sections of the Income-tax Act were involved?

Section 92CA,Section 115O,Section 234C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “J” BENCH, MUMBAI

For Appellant: Shri Nitesh Joshi
For Respondent: Shri Dhiraj Kumar
Hearing: 18.07.2023Pronounced: 16.10.2023

PER PRASHANT MAHARISHI, AM:

1.

ITA No. 2439/Mum/2022 is filed by UPS Express Pvt. Ltd. (Formerly Known as UPS Jetair Express Pvt. Ltd.) against assessment order passed by the assessment unit (the Ld. AO) for A.Y. 2018-19 dated 25.07.2022 wherein the transfer pricing adjustment of ₹ 16,66,66,521/- is under challenge.

2.

Brief facts of the case shows that the assessee is a company engaged in the business of logistics, supply chain management and e-commerce by combining A.Y.2018-19 UPS Express Pvt. Ltd. (Formerly Known as UPS Jetair Express Pvt. Ltd.)

flow of goods, information and funds. Assessee filed return of income on 30.11.2018 at Rs 55,09,95,353/-. The return of income was picked up fo

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 92CA

All 3,978 judgments and leading authorities on Section 92CA →

Recent GST High Court judgments

Search GST case law →