Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: TDS :: Central Excise rule to resale the machines to a new company :: empanelment :: VAT Audit :: list of goods taxed at 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: due date for vat payment
 
 
From the Courts »
 CIT vs. ITD CEM India JV (Bombay High Court)
 Rajasthan Tax Consultants Association vs. UOI (Rajasthan High Court)
  H.T. MEDIA LIMITED Vs. PRINCIPAL COMMISSIONER OF INCOME TAX-IV, NEW DELHI
 Commissioner Of Income Tax (Ltu), New Delhi Vs. Oriental Insurance Company Ltd.
 Principal Commissioner Of Income Tax (Central)-2 Vs. Index Securities Private Limited
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 18/09/2017 To 22/09/2017
  M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS

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

 
 
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