If any evidence left to be consider matter to restore in the file of the authority below

Last updated: 18 September 2012

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
Briefly stated the facts giving rise to this appeal are that the Draft Order u/s 144C of the Act dated 17.12.2009 was passed and served on the assessee. The assessee filed objection u/s 144C(2)(b) of the Act on 19.1.2010 before DRP-II against the same on the points of additions to the tune of Rs.3,22,29,917 as proposed to be made on the basis of TPO order determining arms length price of assessee’s international transactions and on disallowance of higher rate of depreciation @60%. The assessee filed objections u/s 144C(2)(b) of the Act on 19.1.2010 before DRP-II and the same were rejected on 23.11.2011 and the Assessing Officer was asked to finalize the assessment on the basis of Draft order. The Assessing Officer finalized the assessment as per order of DRP-II u/s 254/143(3) of the Act on assessed income of Rs.2,66,57,342 based on Arm’s Length Price margin. Hence, this appeal before this Tribunal by the assessee.

Citation :
Omniglobe Information Technologies (India) Pvt. Ltd., E-11, Rajouri Garden, New Delhi-110027 (Appellant) vs Income Tax Officer, Ward 13(4),New Delhi. (Respondent)