Olympus Medical Systems India Pvt. Ltd., Gurugram DCIT, Circle- 3(1), Gurugram

Last updated: 17 December 2020

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Quick Summary

This Income Tax Appellate Tribunal case involves Olympus Medical Systems India Pvt. Ltd. appealing against an order for the Assessment Year 2015-16. The appeal focuses on three main areas: adjustments made to advertisement, marketing, and promotion expenses; the use of the Cost Plus Method and Bright Line Test for protective adjustments; and the issue of interest on outstanding receivables. The assessee also sought to introduce an additional ground of appeal, citing a Supreme Court decision.

Court :
ITAT New Delhi

Brief :
This appeal by the assessee is preferred against the order dated16.10.2019 framed u/s 143(3) r.w.s 144C of the Act for the Assessment Year 2015-16.

Citation :
ITA No. 8892/DEL/2019

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘I-2’ BENCH,
NEW DELHI (THROUGH VIDEO CONFERENCING)

BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND
SHRI KULDIP SINGH, JUDICIAL MEMBER

ITA No. 8892/DEL/2019
[A.Ys 2015-16]

Olympus Medical Systems India
Pvt. Ltd.,
Ground Floor, Tower-C, SAS
Tower,
The Medicity Complex, Sector-
38, Gurgaon – 122 001
[Appellant]

Vs.

DCIT,
Circle – 3(1),
Gurugram
PAN No. AABCO 2131 L
[Respondent]

Date of Hearing : 24.08.2020
Date of Pronouncement : 26.08.2020
Assessee by : Shri Nageshwar Rao, Adv.
Ms. Deepika Aggarwal, Adv.
Revenue by : Shri Anupam Kant Garg, CIT-D.R

ORDER

PER N.K. BILLAIYA, ACCOUNTANT MEMBER,

This appeal by the assessee is preferred against the order dated16.10.2019 framed u/s 143(3) r.w.s 144C of the Act for the Assessment Year 2015-16.

2. The grievance of the assessee can be summarized as under:
i. Ground against adjustment made in relation to Advertisement, Marketing and Promotion expenses.
ii. Ground pertaining to protective adjustment using Cost Plus Method and Bright Line Test.
iii. Ground pertaining to interest on outstanding receivables.

3. Vide application dated 16.06.2020, the assessee soughtpermission for admission of additional ground of appeal drawingsupport from the decision of the Hon’ble Supreme Court in the case of NTPC 229 ITR 383. The additional ground reads as under:

To know more in details find the attachment file

FAQ :

The appeal concerns Olympus Medical Systems India Pvt. Ltd. challenging an order related to their tax assessment for the Assessment Year 2015-16.

The appeal covers adjustments to advertisement, marketing, and promotion expenses, the application of the Cost Plus Method and Bright Line Test, and interest on outstanding receivables.

The Assessment Year in question is 2015-16.

Yes, the assessee applied to admit an additional ground of appeal, referencing a Supreme Court decision.