STMICROELECTRONICS PVT LTD vs. COMMISSIONER OF INCOME TAX

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ITA - 959 / 2011HC Delhi12 March 20131 pages
For Petitioner: RAHUL SATEEJA
AI SummaryPartly Allowed

What did the High Court hold?

The High Court admitted the appeals and framed the substantial questions of law. The court did not provide any findings or reasoning on the merits of the case in this excerpt. The operative directions were limited to procedural matters, such as dispensing with paper books and allowing the filing of additional documents. The specific findings of the Tribunal on the adjustment of the international transaction's value and the consideration of relevant parameters for arm's length price determination are not detailed here, nor is the ratio decidendi of the Tribunal's decision. No issue was expressly left undecided by the High Court in this order.

What were the facts?

The appeals were filed by STMicroelectronics Pvt Ltd against the order of the Income Tax Appellate Tribunal (ITAT). The appeals were admitted by the Delhi High Court, and the printing of paper books was dispensed with. The court directed parties to file additional documents within three weeks if they were part of the Tribunal's record. The procedural history leading to the ITAT's order is not detailed in this excerpt. The amount in dispute is not specified.

What were the issues?

The Tribunal had to decide two substantial questions of law: 1. Whether, in view of Sections 92C and 92CA of the Income Tax Act, 1961, read with Rule 10B of the Income Tax Rules, 1962, the Tribunal was correct in upholding the adjustment made to the declared value of an international transaction to determine the arm's length price. 2. Whether the Tribunal considered all relevant parameters when arriving at the arm's length price. The assessee's contentions are not recorded. The revenue's contentions are not recorded. The judgment does not mention any specific authorities, circulars, or precedents relied upon by either side.

Which sections of the Income-tax Act were involved?

Section 92C,Section 92CA

AI-generated summary — verify with the full judgment below

Cause title — parties, addresses and appearances
IN THE HIGH COURT OF DELHI AT NEW DELHI . . . ITA 959/2011 . ITA 960/2011 . ITA 961/2011 . . . STMICROELECTRONICS PVT LTD ..... Appellant . Through: Mr M S Syali, Sr. Adv. with Mr Mayank Nagi and Mrs Husnal Syali, Advs. . . . versus . . . COMMISSIONER OF INCOME TAX ..... Respondent . Through: Mr Kiran Babu, Sr. Standing Counsel . . . CORAM: . HON'BLE MR. JUSTICE BADAR DURREZ AHMED . HON'BLE MR. JUSTICE R.V.EASWAR . . .

O R D E R . 12.03.2013 . . . We have heard counsel for the parties. . Admit. . The following substantial questions of law arise in these appeals :- . ?1. Whether in view of the provisions of Section 92C read with Section 92CA of the Income Tax Act, 1961 read with Rule 10B of the Income Tax Rules, 1962, the Tribunal was right in law in upholding the adjustment made to the declared value of the international transaction to arrive at the arm?s length price thereof? . . . . .

2.

Whether the Tribunal had taken into account all the relevant parameters for arriving at the arm?s length price?? . . . . Printing of paper books is dispensed with. Parties may file additional documents within three weeks provided they were part of the record of the Tribunal. . List in due course. . . BADAR DURREZ AHMED, J . . . . . . . R.V.EASWAR, J . MARCH 12, 2013 . vld . . . $ 17 .

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