INCOME TAX OFFICER WARD 1 JALNA, JALNA vs. VIKRAM TEA PROCESSOR PRIVATE LIMITED, JALNA

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ITA 2285/PUN/2024Status: DisposedITAT Pune26 September 2025Bench: SHRI R. K. PANDA (Vice President), MS ASTHA CHANDRA (Judicial Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision to delete the addition, agreeing that the omission of Section 92BA(i) by the Finance Act, 2017, was applicable and rendered the original addition invalid. Consequently, the penalty levied under Section 271AA was also deleted.

What were the facts?

The assessee company engaged in tea processing and power generation had entered into specified domestic transactions with its Associate Enterprises. The Assessing Officer made an addition based on the Transfer Pricing Officer's report proposing an upward adjustment to the Arm's Length Price (ALP). The CIT(A) deleted this addition.

What were the issues?

The primary issue was the applicability of Section 92BA(i) for the assessment year in question, given its subsequent omission, and whether the deletion of the quantum addition justified the deletion of the penalty.

Which sections of the Income-tax Act were involved?

Section 92BA,Section 92CA,Section 271AA,Section 40A(2)(a),Section 92D

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

Before: SHRI R. K. PANDA & MS ASTHA CHANDRA

For Appellant: Shri J P Bairagra
For Respondent: Shri Basavaraj Hiremeth, Addl CIT

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपीलार्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. The concerned Pr.CIT, Pune 4. DR, ITAT, ‘C’ Bench, Pune 5. गार्ड फाईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अधिकरण ,पुणे / ITAT, Pune

S.No. Details Date Initials Designation 1 Draft dictated on 22.09.2025 Sr. PS/PS 2 Draft placed before author 22.09.2025 Sr. PS/PS Draft proposed & placed before the 3 JM/AM Second Member Draft discussed/approved by Second 4 AM/AM Member 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS Date on which the file goes to the Head 9 Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order

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