M/S. Avenue Asia Advisors Pvt. Ltd., New Delhi vs. DCIT, New Delhi
In the result, the appeal of the assessee is allowed for statistical purpose
ITA 6638/DEL/2013[2009-10]Status: DisposedITAT Delhi22 Jan 2016AY 2009-10
Bench: Smt. Diva Singh & Sh. O.P. Kantassessment Year: 2009-10 Avenue Asia Advisors Pvt. Vs. Dcit, Circle-2(1), Lower Ground Floor, C-4/5, New Delhi. Safdarjung Development Area, New Delhi (Pan: Aadcp7362G) (Appellant) (Respondent) Appellant By : S/Sh. Mukesh Butani, Vishal Kalra & Vivek Bansal, Adv. & Ms. Shweta Kashyap, Ca Respondent By : Sh. Anand Kumar Kedia, Cit(Dr) Date Of Hearing: 26.10.2015 Date Of Pronouncement: 22.01.2016 Order Per O.P. Kant, A.M.: The Present Appeal By The Assessee Is Directed Against The Order Dated 10.10.2013 Of The Deputy Commissioner Of Income-Tax, Circle-2(1), New Delhi Under Section 143(3) R.W.S. 144C Of The Income-Tax Act, 1961 (For Short “The Act”) In Relation To Assessment Year 2009-10. The Grounds Of Appeal Raised By The Assessee Are As Under: 1. That The Learned Assessing Officer ("Ao") Erred On The Facts & Circumstances Of The Case & In Law In Making An Addition To The Total Income Of The Appellant Amounting To Rs. 95,945,630/- In Pursuance To The Directions Of The Hon'Ble Dispute Resolution Panel ("Drp") Upholding The Adjustment To The Transfer Price Proposed By The Learned Transfer Pricing Officer ("Tpo").
For Appellant: S/sh. Mukesh Butani, Vishal Kalra & Vivek Bansal, AdvFor Respondent: Sh. Anand Kumar Kedia, CIT(DR)
Section 143(3)Section 92C(2)
…e of Xander Advisor India Private Limited Vs. ACIT, 2014 (36) ITR 499 (Del.). 8.1 The ld. CIT(DR), on the other hand, submitted that the Brescon Corporate Advisor Limited was accepted as a comparable in the case of Carlyle India Advisors Pvt. Ltd. Reported in 56 Taxmann.com 417 (Del), and therefore, the comparable can’t be rejected in the case of the assessee. We have gone through the rival submissions. The submission for relying on the cases decided by the Courts/Tribunal (supra) for treating the company (Brescon) as one of the comparables in the case of the assessee, have already been rejected by us while exami…
