DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 1 (1), PUNE vs. M/S AGS CUSTOMER SERVICES I P LTD, PUNE

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ITA 162/PUN/2022Status: DisposedITAT Pune16 September 2022AY 2010-116 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that an APA is applicable only for the specified period and cannot be extended to years not covered by it. Therefore, the CIT(A)'s reliance on the APA for the current assessment year was incorrect.

What were the facts?

The Revenue appealed against the CIT(A)'s decision to reverse a transfer pricing adjustment for business support services. The CIT(A) relied on an Advance Pricing Agreement (APA) for a later period, which the Revenue argued was not applicable to the assessment year in question.

What were the issues?

Whether an Advance Pricing Agreement (APA) can be applied to assessment years not explicitly covered by its terms. The applicability of APA provisions to determine the arm's length price for international transactions.

Which sections of the Income-tax Act were involved?

Section 92CC,Section 92CC(4),Section 92CC(9A)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, “C” BENCH, PUNE

Before: SHRI S.S.GODARA, JM & SHRI G.D. PADMAHSHALI, AM

For Appellant: Shri Ajit Kumar Jain &, Shri Siddhesh Chaugule
For Respondent: Shri Piyush Kumar Singh Yadav
Hearing: 30.08.2022Pronounced: 16.09.2022

Heard together (2 matters)

ITA No.162/PUN/2022
C.O. No.22/PUN/2022

Read from the judgment's own cause title. This page is filed under one of them.

आदेश की प्रधतधलधप अग्रेधषत / Copy of the Order forwarded to : अपीलाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. 3. The CIT(A) -13, Pune 4. The CIT-1, Pune. धवभागीय प्रधतधनधध, आयकर अपीलीय अधधकरण, “सी” बेंच, 5. पुणे / DR, ITAT, “C” Bench, Pune. गार्ा फ़ाइल / Guard File. 6. आदेशानुसार / BY ORDER, // True Copy //

Senior Private Secretary आयकर अपीलीय अधधकरण, पुणे / ITAT, Pune.

C.O. No.22/PUN/2022 A.Y. : 2010-11 M/s. AGS Customer Services India P.Ltd., S.No. Details Date Initials 1 Draft dictated on 02.09.2022 2 Draft placed before author 13.09.2022 Draft proposed & placed before the Second 3 Member 4 Draft discussed/approved by Second Member 5 Approved Draft comes to the Sr. PS/PS 6 Kept for pronouncement on 7 Date of uploading of Order 8 File sent to Bench Clerk 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order

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