ROSEMOUNT TANK GAUGING INDIA PVT.LTD,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, PUNE

PDF · subscribers
ITA 422/PUN/2017Status: DisposedITAT Pune09 December 2019AY 2012-1313 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the TPO erred in considering all direct and indirect costs under RPM and in including two specific comparable companies. The addition should be restricted to international transactions.

What were the facts?

The assessee, engaged in trading and services of tank gauging equipment, reported international transactions. The TPO rejected the assessee's TNMM method and applied RPM, proposing a significant transfer pricing adjustment. The DRP provided no relief, and the AO made the addition.

What were the issues?

Whether the TPO correctly applied the Resale Price Method (RPM) by considering all costs and whether the selected comparable companies were appropriate.

Which sections of the Income-tax Act were involved?

Section 92CA

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(3)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, PUNE BENCH “C”, PUNE

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Aliasger Rampurwala &, Shri Pratik Shah
For Respondent: Shri T. Vijaya Bhaskar Reddy

आदेश क� क� क� �ितिलिप क� �ितिलिप �ितिलिप अ�ेिषत �ितिलिप अ�ेिषत अ�ेिषत/Copy of the Order is forwarded to: अ�ेिषत आदेश आदेश आदेश अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. 3. The CIT(A)-13, Pune 4. The Pr.CIT-V, Pune िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे 5. “C” / DR ‘C’, ITAT, Pune; 6. गाड� फाईल / Guard file. आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 05-12-2019 Sr.PS 2. Draft placed before author 06-12-2019 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.

*

More judgments on Section 92CA

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

Recent GST High Court judgments

Search GST case law →