Disallowance of interest paid on ECB loans
Last updated: 11 January 2021
Court :
ITAT Bangalore
Brief :
The assessee has filed this appeal challenging the assessmentorder dated 31.12.2015 passed by the A.O. u/s 143(3) r.w.s 144C of the Act for assessment year 2011-12 in pursuance of directions given by Ld. Dispute Resolution Panel (DRP).
Citation :
IT(TP)A No.411/Bang/2016
IN THE INCOME TAX APPELLATE TRIBUNAL
“A’’ BENCH: BANGALORE
BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER
AND
SHRI B.R. BASKARAN, ACCOUNTANT MEMBER
IT(TP)A No.411/Bang/2016
Assessment Year: 2011-12
Maxim India Integrated Circuit Design
Pvt. Ltd.
4th Floor, Tower B., Commercio @ Mantri
Survey No.51/2, 51/3,
Devarabisanahalli, Survey No.39/5,
Kariyammana Agrahara Village
Varthur Hobli
Bangalore-103
PAN NO : AACCM9437E
APPELLANT
Vs.
Deputy
Commissioner of
Income-tax
Circle-4(1)(2)
Bangalore
RESPONDENT
Appellant by : Shri Padam Chand Khincha, A.R.
Respondent by : Shri Rajesh Kumar Jha, D.R.
Date of Hearing : 30.12.2020
Date of Pronouncement : 05.01.2021
O R D E R
PER B.R. BASKARAN, ACCOUNTANT MEMBER:
The assessee has filed this appeal challenging the assessmentorder dated 31.12.2015 passed by the A.O. u/s 143(3) r.w.s 144C of the Act for assessment year 2011-12 in pursuance of directions given by Ld. Dispute Resolution Panel (DRP).
2. The grounds and additional grounds urged by the assessee give rise to the following issues:-
a) Addition relating to transfer pricing adjustment
b) Disallowance of interest paid on ECB loans.
c) Additional depreciation claimed on computers
d) Deduction u/s 10A of the Income-tax Act,1961 ['the Act' for short] in respect of disallowance of interest on ECB loans and additional depreciation.
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