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 ITO vs. Vikram A. Pradhan (ITAT Mumbai)

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
              IN THE INCOME TAX APPELLATE TRIBUNAL
                    DELHI BENCH : `I' N EW DELHI
           BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER
                               AND
            SHRI GEORGE GEORGE K., JUDICIAL MEMBER
                              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.

                         ORDER
PER GEORGE GEORGE K., J.M:

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

adjustment.




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
Aks*
Copy of the order forwarded to:-
1.     Appellant
2.     Respondent
3.     CIT (Appeals) concerned
4.     CIT concerned
5.     D.R., ITAT,

                                                            ASSISTANT REGISTRAR

 
 
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