APOLLO TYRES LTD.,COCHIN vs. DCIT CORPORATE CIR 1(1), KOCHI

ITA 679/COCH/2024Status: DisposedITAT Cochin10 September 2025AY 2020-21Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI RAHUL CHAUDHARY (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal noted that grounds of appeal 1 & 2 were general. Grounds 3 and 4, concerning TP adjustments for corporate IT services and salary expenses, were remitted back to the AO/TPO based on a previous tribunal decision. Ground 5 regarding the disallowance under Section 35(2AB) was also remitted back to the AO, following a similar issue decided by the Tribunal in the assessee's own case. Grounds 6 & 7 were dismissed as not pressed.

What were the facts?

The assessee, Apollo Tyres Ltd., filed its return of income for AY 2020-21 declaring a loss and book profit. The Assessing Officer (AO) referred the matter to the Transfer Pricing Officer (TPO) regarding international transactions. The TPO proposed upward TP adjustments. The AO passed a draft assessment order proposing additions on account of TP adjustment and disallowance of R&D expenses under Section 35(2AB). The assessee filed objections with the Dispute Resolution Panel (DRP), which partly allowed the objections. The AO then passed the final assessment order.

What were the issues?

The appeal primarily concerns transfer pricing adjustments for IT services and salary expenses, disallowance of R&D expenses claimed under Section 35(2AB), and incorrect computation of interest.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144B,Section 92CA(1),Section 92CA(3),Section 154,Section 35(2AB),Section 115JB,Section 244A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH

Before: SHRI INTURI RAMA RAO, AM & SHRI RAHUL CHAUDHARY, JM

For Appellant: Shri Abraham Joseph Markos, Adv
For Respondent: Shri Sanjit Kumar Das, CIT-DR
Hearing: 20.08.2025Pronounced: 10.09.2025

Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the final assessment order dated 20.06.2024passed u/s. 143(3) r.w.s. 144C(13) r.w.s. 144B of Income Tax Act, 1961 (hereinafter "the Act") for Assessment Year (AY) 2020-21. 2. Brief facts of the case are that the appellant is a company incorporated under the provisions of Companies Act, 1956. It is engaged in the business of manufacture and sale of tyres, tubes and dealing in flaps. The return of income for AY 2020-21 was filed on 2 Apollo Tyres Ltd. 17.12.2020 declaring loss of Rs. 324,09,47,701/- and also reported book profit u/s. 115JA of Rs. 587,52,13,537/-. The assessee company also reported certain international transactions from AE i

The order continues below.

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