M/S BIESSE MANUFACTURING COMPANY LTD.,BANGALORE vs. DCIT, BANGALORE

ITA 1496/BANG/2012Status: DisposedITAT Bangalore14 August 2015AY 2008-095 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the Dispute Resolution Panel (DRP) did not properly consider the assessee's objections, particularly regarding underutilization of capacity and reconciliation of AIR information. Therefore, both the transfer pricing adjustment and the corporate tax issues were restored to the AO/TPO for fresh consideration.

What were the facts?

The assessee, engaged in manufacturing and selling furniture machinery, filed a return declaring NIL income. The Assessing Officer (AO) made adjustments based on the Transfer Pricing Officer's (TPO) report, including an ALP adjustment, an addition for AIR information, and disallowance of expenditure.

What were the issues?

Whether the DRP properly considered the assessee's objections regarding transfer pricing adjustments and corporate tax issues, and if the matter should be remanded for de-novo consideration.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C,Section 92CA(3),Section 133(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCH ‘A’, BANGALORE

Before: SHRI GEORGE GEORGE. K & SHRI JASON P BOAZ

For Appellant: Shri Chythanya, K.K. Advocate
For Respondent: Shri G.R.Reddy, CIT-DR

PER SHRI GEORGE GEORGE, K, JM

This appeal at the instance of assessee is directed against the order

dated 16-12-2011 passed u/s 143(3) r.w.s.144C of the IT Act, 1961. The relevant assessment year is AY: 2008-09. 2. Briefly stated the facts of the case are as follows;

2 IT(TP)A No.1496(Bang)2012

The assessee is a company engaged in the business of manufacturing and sale of furniture machinery and its components. For the assessment year 2008-09, the assessee filed its return of income on 27-09-2008 declaring ‘NIL’ total income. The said return was processed

under section 143(1) a

The order continues below.

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