CREDENCE RESOURCE MANAGEMENT PVT LTD.,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE 1(1)., PUNE

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ITA 133/PUN/2021Status: DisposedITAT Pune18 June 2021AY 2016-1722 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal dismissed the legal ground regarding the quashing of the entire assessment order, stating that only a part of the DRP's directions were flawed. The Tribunal also directed the exclusion of one comparable company and remanded the issue of another comparable company back to the AO/TPO for verification.

What were the facts?

The assessee challenged the addition made by the TPO/DRP in respect of ITes services provided to its Associated Enterprise. The assessee also raised legal grounds challenging the DRP's directions for violating Section 144C(8) of the Income Tax Act.

What were the issues?

Whether the DRP's directions violated Section 144C(8) of the Act, and whether certain companies were functionally comparable for transfer pricing purposes.

Which sections of the Income-tax Act were involved?

Section 92CA,Section 92D,Section 144C

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Income Tax Appellate Tribunal, “C” BENCH, PUNE

Before: SHRI R.S.SYAL, VP & SHRI PARTHA SARATHI CHAUDHURY, JM

For Appellant: Shri Ajit Kumar Jain &, Shri Siddesh Chaugule
For Respondent: Shri Mahadevan A M Krishnan
Hearing: 14.06.2021Pronounced: 18.06.2021

आदेश की प्रधतधलधप अग्रेधषत / Copy of the Order forwarded to : अपीलाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. 3. The CIT(Appeals)-13, Pune. 4. The Pr. CIT-5, 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 // धनजी सधचव / Private Secretary आयकर अपीलीय अधधकरण, पुणे / ITAT, Pune.

Date 1 Draft dictated on 14.06.2021 Sr.PS/PS 2 Draft placed before author 18.06.2021 Sr.PS/PS 3 Draft proposed and placed JM/AM before the second Member 4 Draft discussed/approved by AM/JM second 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 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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