TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. ACIT, CIRCLE-4(1)(2),, AHMEDABAD
In the result appeal of the Revenue is hereby partly allowed
ITA 1172/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2024AY 2015-16
Bench: Shri Waseem Ahmed & Ms. Madhumita Roy
For Appellant: Shri Vartik Choksi, With Shri DhrunalBhatt, ARsFor Respondent: Shri Ritesh Parmar, CIT-DR
Section 143(3)Section 14ASection 35Section 43BSection 80
Transfer Pricing upward adjustment u/s.92CA(1) of the I.T Act as under:
(a)
Corporate Guarantee to Aes
8,32,291
(b)
Capital Infusion to Aes
14,05,927
(c)
Interest on Loan to Aes
4,39,625
Total:
26,77,843
10. On the facts and in the circumstances of the case, the learned CIT(Appeal) erred in confirming exclusion
