ASTRIX LABORATORIES LIMITED (AMALGAMATED WITH MYLAN LABORATORIES LIMITED) HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-16(2), HYDERABAD, HYDERABAD
In the result, the appeal of the assessee is dismissed
ITA 952/HYD/2017[2007-08]Status: DisposedITAT Hyderabad22 Jun 2022AY 2007-08
Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2007-08 M/S. Astrix Laboratories Vs. The Deputy Commissioner Limited, (Amalgamated Of Income Tax, With M/S. Mylan Circle 16(2), Laboratories Limited), Hyderabad. Hyderabad. Pan : Aafca4120R. (Appellant) (Respondent) Assessee By: Sri K.A. Sai Prasad. Revenue By: Sri Rajendra Kumar, Cit Date Of Hearing: 20.06.2022 Date Of Pronouncement: 22.06.2022 O R D E R Per Laliet Kumar, J.M. This Appeal Is Filed By The Assessee Feeling Aggrieved By The Order Of Dy.Commissioner Of Income Tax, Circle 16(2), Hyderabad Dt.31.03.2017 For The Assessment Year 2007-08 On The Following Grounds : “1. The Order Passed By The Assessing Officer U/S 143(3) R.W.S. 144C & 92Ca Of The Income Tax Act, Passed On 31.03.2017 Is Contrary T The Facts & Law. 2. The Tpo Erred In Not Following The Hon’Ble Tribunal’S Directions & Thereby Making An Adjustment Of Rs.4,61,00,000/- U/S 92Ca Of The Act In Respect Of Sales Made To Associated Enterprises.” 2. The Brief Facts Of The Case Are As Under :
For Appellant: Sri K.A. Sai PrasadFor Respondent: Sri Rajendra Kumar, CIT
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 144CSection 253Section 92ASection 92C
Section 92A of the Act, the case was referred to Transfer Pricing Officer (Additional Commissioner of Income
Tax), who issued Transfer Pricing Order u/s 92CA of the Act dated
29.10.2010. The Assessing
Officer framed
Draft
Assessment Order u/s 143(3) dated 31.12.2010 taking into account the above Transfer Pricing Order. The Assessing Officer vide his draft order has determined
