JUNGHEINRICH LIFT TRUCK INDIA PRIVATE LIMITED,MUMBAI vs. ASSESSMENT UNIT, NATIONAL E ASSESSMENT CENTRE- DELHI, DELHI

Facts

The assessee's appeal is against an assessment order that disallowed foreign exchange losses and made an adjustment for reimbursement of expenses. The assessee's grounds of appeal challenge these disallowances and additions.

Held

The Tribunal observed that the grounds raised by the assessee regarding foreign exchange loss and reimbursement of expenses were similar to those in a previous assessment year. The Tribunal found that the submissions and documents of the assessee were not considered fairly by the lower authorities. Therefore, the appeals related to these grounds were set aside and restored to the Assessing Officer/TPO for fresh adjudication.

Key Issues

Whether the disallowance of foreign exchange loss and the adjustment for reimbursement of expenses were made without proper consideration of the assessee's submissions and evidence.