TCA.725/2017 SOCOMEC INNOVATIVE POWER Vs. DEPUTY COMMISSIONER OF INCOME Dated : 23/11/2020

Last updated: 04 December 2020

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Quick Summary

This High Court judgement addresses appeals filed by Socomec Innovative Power Solutions Private Limited against an order by the Income Tax Appellate Tribunal. The core of the dispute revolves around transfer pricing adjustments, specifically the appropriateness of the Berry Ratio as a method for computing the Arm's Length Price (ALP) when the assessee operates as a trader without value addition. The assessee also questioned the tribunal's findings and its failure to adjudicate on issues related to the selection of comparable companies and the computation of the Berry Ratio.

Court :
High Court Madras

Brief :
The present Appeals have been filed by the Assessee M/s.Socomec Innovative Power Solutions Private Limited aggrieved by the order dated 26th April 2017 of the learned ITAT 'D' Bench Chennai, by which the learned Tribunal partly allowed the Appeals of the Assessee for statistical purposes and decided certain issues with regard to Transfer Pricing Adjustments in the case on hand.

Citation :
Tax Case (Appeal) Nos.725 & 726 of 2017 and C.M.P.Nos.18259, 18260, 18262 & 18263 of 2017

Daily Limit Reached