DEVI SEA FOODS LIMITED,VISAKHAPATNAM vs. DCIT, CIRCLE-3(1), VISAKHAPATNAM
In the result, appeal of the assessee is allowed
ITA 75/VIZ/2022[2017-18]Status: DisposedITAT Visakhapatnam09 Sept 2022AY 2017-18
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.75/Viz/2022 ("नधा"रणवष"/ Assessment Year: 2017-18) M/S. Devi Sea Foods Limited, Vs. Deputy Commissioner Of Visakhapatnam. Income Tax, Pan: Aabcd 0248 B Circle-3(1), Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri D. Anand, Advocate ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr
For Appellant: Sri D. Anand, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 143(3)Section 144CSection 144C(5)Section 14ASection 154Section 50Section 92BSection 92C
section 92B of the Act.
2.3. The DRP/TPO/AO erred in not appreciating the fact that the Act provides for taxing only real income whether received or accrued under the normal provisions.
2.4. The DRP/TPO/AO erred in not appreciating the fact that transfer pricing adjustment cannot be made on hypothetical and notional basis until and unless there is some material
