GUJARAT GUARDIAN LTD.,,NEW DELHI vs. DCIT, NEW DELHI

ITA 158/DEL/2010Status: DisposedITAT Delhi16 July 2025AY 2002-0366 pages
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What did the Tribunal hold?

The Tribunal held that the CIT(A) erred in not adjudicating the additional ground regarding sales tax incentives. The Tribunal admitted the ground and decided to adjudicate it, stating that appellate authorities are not fettered by the Goetz India Ltd. decision in admitting new claims.

What were the facts?

The assessee, Gujarat Guardian Ltd., engaged in float glass manufacturing, had international transactions with its associated enterprises. The TPO applied the CUP method, while the assessee preferred TNMM. The CIT(A) partly allowed the assessee's appeal, restricting the TPO's adjustment.

What were the issues?

Whether the CUP method was appropriate for benchmarking international transactions and whether sales tax incentives received by the assessee constitute capital receipts taxable under the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 92CA,Section 148,Section 36(1)(vii)

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Income Tax Appellate Tribunal, DELHI BENCHES, ‘H NEW DELHI

Before: SHRI PRAKASH CHAND YADAV & SHRI BRAJESH KUMAR SINGH

For Appellant: Shri Ajay Vohra, Sr. A.R, Shri Neeraj Jain, A.R, Shri Ramit Katiyal, A.R. &, Shri Kunal Pandey, A.R
For Respondent: Shri Bhopal Singh, Sr. D.R

Heard together (2 matters)

ITA Nos.4859/Del/2009
ITA No.2539/Del/2017

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PER PRAKASH CHAND YADAV

The order continues below.

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