M/S. VESTAS TECHNOLOGY R&D CHENNAI PVT. LTD.,CHENNAI vs. ACIT, CHENNAI
In the result, appeal filed by the assessee is allowed
ITA 3081/CHNY/2016[2012-13]Status: DisposedITAT Chennai31 Mar 2022AY 2012-13
Bench: Shri C.M. Garg, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.3081/Chny/2016 (िनधा"रण वष" / Assessment Year : 2012-2013) M/S Vestas Technology R&D Vs Acit, Corporate Circle-3(2), Chennai Private Limited, Chennai Block A, 8Th Floor, Tecci Park No.173, Rajiv Gandhi Road, Old Mahabalipuram Road, Shollinganallur, Chennai Pan No. : Aaccv 4768 P (अपीलाथ" /Appellant) (""थ" / Respondent) .. िनधा"रती की ओर से /Assessee By : Darpan Kirpalani, Advocate राज" की ओर से /Revenue By : Dr. S.Palanikumar, Cit सुनवाई की तारीख / Date Of Hearing : 15/02/2022 घोषणा की तारीख/Date Of Pronouncement : 31/03/2022 आदेश / O R D E R Per Arun Khodpia, Am : This Is An Appeal Filed By The Assessee Against The Order Of The Acit, Corporate Circle-3(2), Chennai, Dated 28.09.2016 For The Assessment Year 2012-2013, On The Following Grounds Of Appeal: - 1. Ground No.1 1.1. On The Facts & In The Circumstances Of The Case & In Law, The Learned Assistant Commissioner Of Income Tax, Chennai ("Ld. Ao"), The Ld. Deputy Commissioner Of Income Tax, Chennai ("Ld. Tpo") & The Ld. Dispute Resolution Panel ("Ld. Drp"), Erred In Enhancing The Income Of The Appellant By Inr 79,265,132 On Account Of Interest At The Rate Of 21% On Receivables Purportedly Due To The Appellant From Its Associated Enterprise ("Ae") , Without Granting Working Capital Adjustment. 1.2. In This Regard, The Order Of The Ld. Ao To The Extent Prejudicial To The Appellant Is Bad In Law & Is Liable To Be Quashed.
For Appellant: Darpan Kirpalani, AdvocateFor Respondent: Dr. S.Palanikumar, CIT
Section 92C
1) of the Act in the case of assessee was made for determination of arm’s length price with reference to all the transactions reported in Form No.3CEB filed by the assessee for the assessment year under consideration. Accordingly a notice u/s.92CA(2) of the Act along with questionnaire was issued to the assessee on 26.02.2014 to furnish the details
