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Order u/s.254(1)of the Income-tax Act,1961(Act) लेखा सद�, राजे� के अनुसार/ PER Rajendra A.M.- Challenging the directions of the Dispute Resolution Panel (DRP),dated 08/10/2014,the Assessing Officer (AO) has filed the present appeal.Assessee-company, engaged in the business of manufacturing and hundred percent exporter of power supplies,filed its return of income on 09/10/2010,declaring loss of Rs.5.99 crores.The AO found that the assessee had entered in to International Transactions(IT.s) with its AE.For determining the ALP of the IT.s.,he made a reference to the Transfer Pricing Officer(TPO)who made upward-adjustment. Accordingly,the AO issued a draft order proposing the adjustment.The assessee filed its objections before the DRP.The AO completed the assessment under section 143 (3) read with section 144C (13) of the Act on 27/11/2014. 2.First ground of appeal is about directions issued by the DRP to the TPO to work out the PLI after taking into account the adjustment for accelerated depreciation. During the course of hearing before us,Representatives of both the sides agreed that the identical issue was decided in favour of the assessee by the Tribunal, while deciding the appeals for the assessment year 2008-09(ITA/6490/Mum/2012,dtd. 29.11.2013.Respectfully,following the above order of the Tribunal,we decide Ground no.1 against the AO. 3.Second ground pertains to inclusion of M/s.VoltAmp Transformers in the final list of the comparables.Before us,the Departmental Representative(DR)and Authorised Representative stated that while deciding the cross-appeals for the AY.2003-04(ITA.s.6732 and 6542/
489/M/15-Advance Power Display Sys.