Avenue Asia Advisors Pvt. Ltd. v. DCIT

398 ITR 120High Court2017#1358 most cited

What is Avenue Asia Advisors Pvt. Ltd. v. DCIT authority for?

The Delhi High Court holds that a detailed functional and working capital analysis, considering various factors, is essential before treating outstanding receivables as a separate international transaction for transfer pricing adjustments on notional interest. Simply making an adjustment based on receivables alone without such study distorts the transaction's character.

84

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2025.

Also referred to as

Avenue Asia Advisors Pvt. Ltd. v. DCIT · 398 ITR 120 · Section 92B · Section 92CA · transfer pricing adjustment · interest on outstanding receivables · international transaction · working capital adjustment · functional analysis · comparable companies · Kusum Healthcare · TP adjustment on receivables

Sections most often in play

Section 143(3)Section 144C(13)Section 92B Section 144B Section 115JB Section 92CA Section 10D Section 14A

Issues it is cited on

interest on outstanding receivables section 92b(1)captive service provider working capital adjustment section 92b multiple year data related party transaction functional analysis comparable companies transfer pricing order transactional net margin method associated enterprises

Judgments citing Avenue Asia Advisors Pvt. Ltd. v. DCIT

Glaxosmithkline Asia Pvt. Ltd., Gurgaon vs. ACIT, Chandigarh

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

ITA 225/CHANDI/2017[2008-09]Status: DisposedITAT Chandigarh26 Oct 2021AY 2008-09

…s outstanding indicating that the arrangement reflects an international transaction intended to benefit the AE in some way. It was pointed out that this view was reiterated by the Hon'ble High Court in the case of Avenue Asia Pvt. Ltd. Vs. DCIT reported at 398 ITR 120. The Ld. DR was unable to bring our notice any contrary decision of any High Court on the issue. 43. In view of the same, therefore, the above interpretation by the Hon’ble Delhi High Court, of the explanation inserted to ITA Nos.219 to 222,225 to 227,242, 228, 344/Chd/2017 ITA No.1495/Chd/2019 A.Ys. 2007-08 to 2015-16 Page 47 of 120 sectio…

ACIT, Chandigarh vs. M/S Glaxo Smithkline Asia Pvt. Ltd., Gurgaon

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

ITA 222/CHANDI/2017[2009-10]Status: DisposedITAT Chandigarh26 Oct 2021AY 2009-10

…s outstanding indicating that the arrangement reflects an international transaction intended to benefit the AE in some way. It was pointed out that this view was reiterated by the Hon'ble High Court in the case of Avenue Asia Pvt. Ltd. Vs. DCIT reported at 398 ITR 120. The Ld. DR was unable to bring our notice any contrary decision of any High Court on the issue. 43. In view of the same, therefore, the above interpretation by the Hon’ble Delhi High Court, of the explanation inserted to ITA Nos.219 to 222,225 to 227,242, 228, 344/Chd/2017 ITA No.1495/Chd/2019 A.Ys. 2007-08 to 2015-16 Page 47 of 120 sectio…

ACIT, Chandigarh vs. M/S Glaxo Smithkline Asia Pvt. Ltd., Gurgaon

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

ITA 221/CHANDI/2017[2009-10]Status: DisposedITAT Chandigarh26 Oct 2021AY 2009-10

…s outstanding indicating that the arrangement reflects an international transaction intended to benefit the AE in some way. It was pointed out that this view was reiterated by the Hon'ble High Court in the case of Avenue Asia Pvt. Ltd. Vs. DCIT reported at 398 ITR 120. The Ld. DR was unable to bring our notice any contrary decision of any High Court on the issue. 43. In view of the same, therefore, the above interpretation by the Hon’ble Delhi High Court, of the explanation inserted to ITA Nos.219 to 222,225 to 227,242, 228, 344/Chd/2017 ITA No.1495/Chd/2019 A.Ys. 2007-08 to 2015-16 Page 47 of 120 sectio…

ACIT, Chandigarh vs. M/S Glaxo Smithkline Asia Pvt. Ltd., Gurgaon

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

ITA 220/CHANDI/2017[2008-09]Status: DisposedITAT Chandigarh26 Oct 2021AY 2008-09

…s outstanding indicating that the arrangement reflects an international transaction intended to benefit the AE in some way. It was pointed out that this view was reiterated by the Hon'ble High Court in the case of Avenue Asia Pvt. Ltd. Vs. DCIT reported at 398 ITR 120. The Ld. DR was unable to bring our notice any contrary decision of any High Court on the issue. 43. In view of the same, therefore, the above interpretation by the Hon’ble Delhi High Court, of the explanation inserted to ITA Nos.219 to 222,225 to 227,242, 228, 344/Chd/2017 ITA No.1495/Chd/2019 A.Ys. 2007-08 to 2015-16 Page 47 of 120 sectio…

ACIT, Chandigarh vs. M/S Glaxo Smithkline Asia Pvt. Ltd., Gurgaon

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

ITA 219/CHANDI/2017[2007-08]Status: DisposedITAT Chandigarh26 Oct 2021AY 2007-08

…s outstanding indicating that the arrangement reflects an international transaction intended to benefit the AE in some way. It was pointed out that this view was reiterated by the Hon'ble High Court in the case of Avenue Asia Pvt. Ltd. Vs. DCIT reported at 398 ITR 120. The Ld. DR was unable to bring our notice any contrary decision of any High Court on the issue. 43. In view of the same, therefore, the above interpretation by the Hon’ble Delhi High Court, of the explanation inserted to ITA Nos.219 to 222,225 to 227,242, 228, 344/Chd/2017 ITA No.1495/Chd/2019 A.Ys. 2007-08 to 2015-16 Page 47 of 120 sectio…

M/S Ims Health Technology Solutions India Pvt Ltd, Bangalore vs. Deputy Commissioner of Income Tax Circle-3(1)(1), Bangalore

In the result, the appeal filed by the assessee is treated as partly allowed

ITA 2836/BANG/2017[2013-14]Status: DisposedITAT Bangalore26 Aug 2021AY 2013-14

Bench: Shri George George K. & Shri B.R. Baskaranit(Tp)A No.2836/Bang/2017 Assessment Year : 2013-14

For Appellant: Shri K.R. Vasudevan, A.RFor Respondent: Shri Muzaffar Hussain, D.R

Section 143(3)Section 234CSection 92B

…fairly conceded that outstanding amount on account of sales/services billed to AE akin to loan advanced by assessee is an international transaction. As held by the Hon'ble Delhi High Court in the case of Avenue Asia Business Advisors (P.) Ltd. v. DCIT [2017] 398 ITR 120 (Del), there should be TP adjustment on this count after making proper TP study by the TPO after considering the period of credit enjoyed by the comparables and also applicable LIBOR rate in the place of AEs for benchmarking the rate of interest to arrive at the ALP. With these observations, we remit the issue in dispute to the file of AO/TPO to…

M/S Salesforce.Com India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-6(1)(1), Bangalore

Accordingly these ground raised by assessee stands allowed for statistical purposes

ITA 3286/BANG/2018[2014-15]Status: DisposedITAT Bangalore22 Mar 2021AY 2014-15

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.3286/Bang/2018 Assessment Year : 2014-15

For Appellant: Shri Sumeet Khurana, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)

Section 133(6)Section 143(3)Section 92D

…the supplies made to an AE, the arrangement reflected an international transaction intended to benefit the AE in some way. Similar matter once again came up for consideration before the Hon'ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. v. DCIT [2017] 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the assessee. Applying the decision in Kusum Health Care (supra), the Hon'ble Hig…

M/S Isg Novasoft Technologies Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-3(1)(1), Bangalore

In the result, the assessee’s appeal is partly allowed for statistical purposes

ITA 3284/BANG/2018[2014-15]Status: DisposedITAT Bangalore18 Mar 2021AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri P.C. Khincha, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru

Section 143(3)Section 234BSection 92BSection 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER IT(TP)A No.3284/Bang/2018 Assessment year: 2014-15 ISG Novasoft Technologies Ltd., Vs. The Deputy Commissioner Maruthi Sapphire, 2nd Floor, of Income Tax, 128/9, HAL Airport Road, Circle 3(1)(1), Murugeshpalya, Bangalore. Bangalore – 560 018. PAN: AABCI 24488Q APPELLANT RESPONDENT Appellant by : Shri P.C. Khincha, CA Respondent by : Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru. Date of hearing : 17.03.2021 Date of Pronouncement : 18.03.2021 O R D E R Per Chandr…

M/S Blue Coat Network (India) Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(2), Bangalore

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 78/BANG/2019[2014-15]Status: DisposedITAT Bangalore23 Nov 2020AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.78/Bang/2019 Assessment Year: 2014-15

For Appellant: Shri Ajit Tolani, A.RFor Respondent: Ms. Neera Malhotra, D.R

Section 133(6)Section 143(3)Section 144CSection 92D

…IT(TP)A No.11/Bang/2019 Blue Coat Network (India) Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER IT(TP)A No.78/Bang/2019 Assessment Year: 2014-15 M/s. Blue Coat Network (India) Private Limited Unit No.1001 & 1002, 10th Deputy Commissioner Floor, RMZ Campus, 8-B Plot of Income-tax No.C-L, Sarjapur Marathahalli Vs. Circle-1(1)(2) Outer Ring Road, Bangalore Bangalore-500 037 PAN NO : AAHCS7844Q APPELLANT RESPONDENT Appellant by : Shri Ajit Tolani, A.R. Respondent by : Ms. Neera Malhotra, D.…

Exlservice.Com (India) Pvt. Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, appeal filed by the learned assessing officer is dismissed

ITA 1708/DEL/2016[2011-12]Status: DisposedITAT Delhi26 Aug 2020AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Dcit(Ltu), Vs. Exl Service.Com (India) Pvt. Circle-1, Ltd, Nbcc Plaza Pusph Vihar, 414, 4Th Floor, Dlf Tower-B, New Delhi Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi Pan: Aaace5174C (Appellant) (Respondent) Exl Service.Com (India) Pvt. Ltd, Vs. Dcit(Ltu), 414, 4Th Floor, Dlf Tower-B, Plot Circle-1, No. 10 & 11, Dda District Nbcc Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi Pan: Aaace5174C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surendra Pal, CIT DR

Section 143(3)Section 144CSection 92D

…ommissioner Of Income Tax Versus Kusum Healthcare Private Limited in ITA number 765/2016. He stated that the similar view was followed by the honourable Delhi High Court in case of Avenue Asia Advisors Private Limited Versus Deputy Commissioner Of Income Tax [398 ITR 120]. In view of this, it was submitted that even if the appellant has received receivable from its associated enterprise beyond the agreed credit period, no interest can be charged for delay in receipt of receivable by treating the same as an international transaction separate from the international transaction of rendering of the services. Without…

DCIT (Ltu), New Delhi vs. M/S. Exl Service.Com (India) Pvt. Ltd., New Delhi

In the result, appeal filed by the learned assessing officer is dismissed

ITA 1482/DEL/2016[2011-12]Status: DisposedITAT Delhi26 Aug 2020AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Dcit(Ltu), Vs. Exl Service.Com (India) Pvt. Circle-1, Ltd, Nbcc Plaza Pusph Vihar, 414, 4Th Floor, Dlf Tower-B, New Delhi Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi Pan: Aaace5174C (Appellant) (Respondent) Exl Service.Com (India) Pvt. Ltd, Vs. Dcit(Ltu), 414, 4Th Floor, Dlf Tower-B, Plot Circle-1, No. 10 & 11, Dda District Nbcc Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi Pan: Aaace5174C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surendra Pal, CIT DR

Section 143(3)Section 144CSection 92D

…ommissioner Of Income Tax Versus Kusum Healthcare Private Limited in ITA number 765/2016. He stated that the similar view was followed by the honourable Delhi High Court in case of Avenue Asia Advisors Private Limited Versus Deputy Commissioner Of Income Tax [398 ITR 120]. In view of this, it was submitted that even if the appellant has received receivable from its associated enterprise beyond the agreed credit period, no interest can be charged for delay in receipt of receivable by treating the same as an international transaction separate from the international transaction of rendering of the services. Without…

Lotus Labs Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-4(1)(1), Bangalore

In the result appeal filed by assessee stands partly allowed

ITA 2207/BANG/2017[2013-14]Status: DisposedITAT Bangalore13 May 2020AY 2013-14

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiit(Tp)A No.2207/Bang/2017 Assessment Year : 2013 – 14

For Appellant: Shri. Chavli Narayan, CAFor Respondent: Shri Muzaffar Hussain, CIT (DR)

Section 143Section 143(3)Section 144CSection 80

…he supplies made to an AE, the arrangement reflected an international transaction intended to benefit the AE in some way. Similar matter once again came up for consideration before the Hon’ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. vs. DCIT (2017) 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the Page 11 of 16 IT(TP)A No.2207/Bang/2017 A. Y: 2013 – 14 assessee. Applying th…

M/S. Metricstream Infotech (India) Private Limited, Bengaluru vs. Assistant Commissioner of Income Tax, Circle- 4(1)(2), Bangalore

In the result appeal filed by assessee stands allowed as indicated hereinabove

ITA 2347/BANG/2019[2015-16]Status: DisposedITAT Bangalore24 Apr 2020AY 2015-16

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiit(Tp)A No.2347/Bang/2019 Assessment Year : 2015 – 16

For Appellant: Shri Padamchand Khincha, C.AFor Respondent: Shri Muzaffar Hussain, CIT (DR)

Section 133(6)Section 143(3)

…ternational transaction intended to benefit the AE in some way. Similar matter Page 33 of 36 IT(TP)A No.2347/Bang/2019 A. Y : 2015 – 16 once again came up for consideration before the Hon’ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. vs. DCIT (2017) 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the assessee. Applying the decision in Kusum Health Care (supra), the Hon’ble Hig…

Infogain India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 5870/DEL/2011[2007-08]Status: DisposedITAT Delhi17 Mar 2020AY 2007-08

Bench: Shri N.K. Billaiya & Ms Suchitra Kamble[Assessment Year: 2007-08]

For Appellant: Ms. Ananya Kapoor, AdvFor Respondent: Shri Surender Pal, CIT- DR

Section 10ASection 10BSection 143(3)Section 1BSection 80H

…nt to find the comparable entity though the TNMM method allows broad flexibility tolerance in the selection of comparables does not hold any water in the light of the observations of the Hon'ble High Court of Delhi in the case of Avenue Asia Advisors Pvt Ltd 398 ITR 120 wherein the Hon'ble High Court has held as under: “19. The first and the foremost issue that arises in this case is with respect to the applicability of tests laid down in Rampgreen Solutions (supra), which was rendered on 10th August, 2015. This decision has clearly laid down the various principles on the basis of which determination of compar…

DCIT, Bangalore vs. M/S Logica Pvt. Ltd., Bangalore

In the result appeal and cross objection filed by assessee stands allowed as indicated hereinabove

ITA 505/BANG/2016[2011-12]Status: DisposedITAT Bangalore30 Jan 2020AY 2011-12

Bench: Shri B.R.Baskaran, Am & Smt.Beena Pillai, Jm

For Appellant: Sri.T.Suryanarayana, AdvocateFor Respondent: Ms.Neera Malhotra, CIT-DR

Section 143Section 144C

…he supplies made to an AE, the arrangement reflected an international transaction intended to benefit the AE in some way. Similar matter once again came up for consideration before the Hon’ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. vs. DCIT (2017) 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the assessee. Applying the decision in Kusum Health Care (supra), the Hon’ble Hig…

DCIT-14(2)(1), Mumbai vs. Iiml Assets Advisors Ltd, Mumbai

In the result, Revenue’s appeal is dismissed

ITA 5261/MUM/2017[2011-12]Status: DisposedITAT Mumbai21 Jun 2019AY 2011-12

Bench: Shri Saktijit Deyand Shri Manoj Kumar Aggarwal

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Anand Mohan

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBERAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA no.5261/Mum./2017 (Assessment Year : 2011–12) Dy. Commissioner of Income Tax ……………. Appellant Circle–14(2)(1), Mumbai v/s IIML Assets Advisors Ltd. 4th Floor, Pharma Search House 72/73, Worli Hill Estate ……………. Respondent Dr. B.G. Kher Road, Worli Mumbai 400 018 PAN – AAJCS5304B ITA no.5027/Mum./2017 (Assessment Year : 2011–12) IIML Assets Advisors Ltd. (Formerly known as Saffron Asset Advisors Pvt. Ltd.) IL&FS Financial Centre ……………. Appellant Plot no.C–22, G–B…

Mount Kellett Capital Management India P.Ltd, Mumbai vs. DCIT 14(2)(2), Mumbai

In the result, the appeal is partly allowed for statistical purposes

ITA 1552/MUM/2016[2011-12]Status: DisposedITAT Mumbai27 Jul 2018AY 2011-12

Bench: Shri G S Pannu & Shri Sandeep Gosainit(Tp)A No.1552/Mum/2016 Assessment Year : 2011-12 Mount Kellett Capital Management Dy. Cit 14(2)(2), India Private Limited., Mumbai Vs. 1302 Tower-3, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone Road (West), Mumbai 400 013. Pan Aafcm6895B (Appellant) (Respondent)

For Appellant: Shri Yogesh Thar & Ms. Aayushi ModaniFor Respondent: Ms Amrita Ranjan

Section 143(3)Section 144C(5)Section 92C

…om the services being rendered by the assessee. It has been pointed out that in the following decisions the Tribunal has found it fit to exclude the said concern from the list of comparables in similar circumstances: • Avenue Asia Advisors (P) LTd. vs. DCIT (398 ITR 120) (Del) • Temasek Holdings Advisors (I)(P.) Ltd. vs. DCIT (87 taxmann.com 168) • DCIT vs. General Atlantic (P.) Ltd. (91 taxmann.com 406) • Wells Fargo Real Estate Advisors (P.) Ltd. vs. DCIT (90 taxmann.com 18) 6. On this aspect, the learned CIT-DR appearing for the Revenue referred to the relevant discussions made by the TPO as well as the DRP,…

M/S Bt (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result this ground is allowed for statistical purposes

ITA 302/DEL/2017[2012-13]Status: DisposedITAT Delhi19 Jul 2018AY 2012-13

Bench: Shri R.S.Syal & Smt. Beena A. Pillaii.T.A. No. 442/Del/2016 (Assessment Year : 2011-12) & I.T.A. No. 302/Del/2017 (Assessment Year : 2012-13) Bt (India) Pvt. Ltd., Vs Acit, Circle 5(1), 11Th Floor, New Delhi Eros Corporate Tower, Opp. International Trade Tower Nehru Place, New Delhi -110 019 Gir / Pan :Aabcc4785E (Appellant) (Respondent) Appellant By : Shri Nageswar Rao, Adv. Ms. Sherry Goyal, Adv. Respondent By : Shri Sanjay I Bara, Cit, Dr Date Of Hearing: 11.07.2018 Date Of Pronouncement: 19.07.2018 Order Per Beena A. Pillai, Jm: Present Appeals Have Been Filed By Assessee Against The Final Assessment Order Dated 28/12/15 & Order Dated 09/12/16, Passed By Ld. Acit, Circle 5 (1), New Delhi Under Section 144 (3) Read With Section 144C Of The Income-Tax Act, 1961 (‘The Act’) For

For Appellant: Shri Nageswar Rao, AdvFor Respondent: Shri Sanjay I Bara, CIT, DR

Section 143(3)Section 144Section 144CSection 144C(5)Section 920(2)

…he supplies made to an AE, the arrangement reflected an international transaction intended to benefit the AE in some way. Similar matter once again came up for consideration before the Hon’ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. vs. DCIT (2017) 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the assessee. Applying the decision in Kusum Health Care (supra), the Hon’ble Hig…

M/S. Bt (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result this ground is allowed for statistical purposes

ITA 442/DEL/2016[2011-12]Status: DisposedITAT Delhi19 Jul 2018AY 2011-12

Bench: Shri R.S.Syal & Smt. Beena A. Pillaii.T.A. No. 442/Del/2016 (Assessment Year : 2011-12) & I.T.A. No. 302/Del/2017 (Assessment Year : 2012-13) Bt (India) Pvt. Ltd., Vs Acit, Circle 5(1), 11Th Floor, New Delhi Eros Corporate Tower, Opp. International Trade Tower Nehru Place, New Delhi -110 019 Gir / Pan :Aabcc4785E (Appellant) (Respondent) Appellant By : Shri Nageswar Rao, Adv. Ms. Sherry Goyal, Adv. Respondent By : Shri Sanjay I Bara, Cit, Dr Date Of Hearing: 11.07.2018 Date Of Pronouncement: 19.07.2018 Order Per Beena A. Pillai, Jm: Present Appeals Have Been Filed By Assessee Against The Final Assessment Order Dated 28/12/15 & Order Dated 09/12/16, Passed By Ld. Acit, Circle 5 (1), New Delhi Under Section 144 (3) Read With Section 144C Of The Income-Tax Act, 1961 (‘The Act’) For

For Appellant: Shri Nageswar Rao, AdvFor Respondent: Shri Sanjay I Bara, CIT, DR

Section 143(3)Section 144Section 144CSection 144C(5)Section 920(2)

…he supplies made to an AE, the arrangement reflected an international transaction intended to benefit the AE in some way. Similar matter once again came up for consideration before the Hon’ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. vs. DCIT (2017) 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the assessee. Applying the decision in Kusum Health Care (supra), the Hon’ble Hig…

Carrier Air-Conditioning & Refrigeneration Ltd., Gurgaon vs. DCIT, Circle- 2(1), Gurgaon

In the result, the appeal is allowed for statistical purposes

ITA 7312/DEL/2017[2013-14]Status: DisposedITAT Delhi13 Jul 2018AY 2013-14

Bench: Shri R.S. Syal & Smt. Beena A. Pillaiassessment Year : 2005-06 Assessment Year : 2009-10 Assessment Year 2010-11 Assessment Year 2011-12 Assessment Year 2013-14

For Appellant: Shri Nageshwar Rao &For Respondent: Shri Sanjay I Bara, CIT, DR

…supplies made to an AE, the arrangement reflected an international transaction intended to benefit the AE in some way. Similar matter once again came up for consideration before the Hon’ble Delhi High Court in Avenue Asia Advisors Pvt. Ltd. vs. DCIT (2017) 398 ITR 120 (Del). Following the earlier decision in Kusum Healthcare (supra), it was observed that there are several factors which need to be considered before holding that every receivable is an international transaction and it requires an assessment on the working capital of the assessee. Applying the decision in Kusum Health Care (supra), the Hon’ble H…