Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: form 3cd :: TDS :: VAT Audit :: empanelment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT RATES :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS
From the Courts »
 Samvardhana Motherson International Ltd. (Formerly Known As(M/s Samvardhana Motherson Finance Ltd.)a Vs. Assitant Commissioner Of Income Tax, Circle 22(1) & Anr.
 Pr. Commissioner Of Income Tax (Central)-2 Vs. M/s Frontline Business Solutions Pvt. Ltd. & Ors.
 Ram Kumar Vs. Income Tax Officer, Ward-64(2) & Anr.
 Principal Commissioner Of Income Tax-8 Vs. St Microelectronics Private Ltd.
  The Chamber Of Tax Consultants vs. UOI (Delhi High Court)
 M/s Ess Distribution (Mauritius) S.N.C.Et Compagnie Vs. Assistant Commissioner Of Income Tax, Circle -1(2)(2) International Taxation, New Delhi
 Commissioner Of Income Tax (Ltu) Vs. ESPN Software India Ltd.
 Bses Rajdhani Power Ltd. Vs. Principal Commissioner Of Income Tax,
 ITO vs. Gymkhana Club (ITAT Chandigarh)
 SRD Nutrients Private Limited vs. CCE (Supreme Court)
 The Commissioner Of Income Tax-Exemption Vs. The Fertilizers Association Of India

Eli Lilly & Co. (India) Pvt. Ltd. Plot No.92, Sector-32, Institutional Area, I.P. Estate, New Delhi 122 001 Vs. A.C.I.T., Circle-1, Gurgaon.
September, 03rd 2014
                    DELHI BENCH : `I' N EW DELHI
                              ITA No. 86/Del/ 2013
                           Assessment Year 2008-2009

Eli Lilly & Co. (India) Pvt. Ltd.       Vs.   A.C.I.T., Circle-1,
Plot No.92, Sector-32,                        Gurgaon.
Institutional Area, I.P. Estate,
New Delhi ­ 122 001

(Appellant)                                   (Respondent)
     Appellant by                       :     Shri Neeraj K. Jain And
                                              Shri Abhishek Agarwal, Advocates
     Respondent by                      :     Shri Yogesh Kumar Verma, CIT. D.R.


1.    This appeal at the instance of the assessee is directed against the assessment

order dated 29.10.2012 passed u/s 143(3) r.w.s. 144C of the Income Tax Act,

1961. The relevant Assessment Year is 2008-09.

2.    The assessee has raised several grounds with regard to transfer pricing


3.    When appeal was taken up for hearing, the learned A.R. submitted that this

appeal has become infructuous, since T.P. adjustment has been revised to `NIL' in

place of Rs.1,43,96,719/- vide TPO order dated 12.06.2014 passed u/s 154 read

with Section 92CA(5) of the I.T. Act.
                                          2                  ITA No. 86/Del/ 2013

4.     Ld. D.R. present was duly heard.

5.     We have heard rival submissions and perused the material on record. TPO

in his original order dated 30.10.2011 had proposed an adjustment of

Rs.2,17,23,718/-. Later, while giving effect to directions of the Hon'ble DRP, the

adjustment was reduced to Rs.1,43,96,719/-. The assessee had filed rectification

application before the TPO (rectification application dated 07.02.2014). The TPO

disposed off the rectification application vide his order dated 12.06.2014, wherein

the adjustment was revised to `NIL'. Therefore, this appeal challenging the transfer

pricing adjustment amounting to Rs.1,43,96,719 has become infructuous, in view

of the TPO order dated 12.06.2014 passed u/s 154 of the I.T. Act r.w.s. 92CA(5) of

the Act.

6.     Hence, this appeal is dismissed as infructuous. It is order accordingly.

       The order is pronounced in the open Court on 28.08.2014

       Sd/-                                                      Sd/-
  (R.S. SYAL)                                            (GEORGE GEORGE K.)
 Accountant Member                                           Judicial Member
Dated 28.08.2014
Copy of the order forwarded to:-
1.     Appellant
2.     Respondent
3.     CIT (Appeals) concerned
4.     CIT concerned
5.     D.R., ITAT,

                                                            ASSISTANT REGISTRAR
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions