Income Tax Appellate Tribunal - Ahmedabad
The Acit, Circle-1(2),, Baroda vs M/S. Fag Bearings India Ltd.,, Vadodara on 24 January, 2017
I T A N o. 1 0 8/ A h d/ 2 0 1 6
Ass ess me nt Yea r: 2002 -03
Page 1 of 2
IN THE INCOME TAX APPELLATE TRIBUNAL
AHMEDABAD 'I' BENCH, AHMEDABAD
[Coram: Pramod Kumar AM and S S Godara JM]
ITA No.108/Ahd/2016
Assessment Year: 2002-03
Assistant Commissioner of Income Tax,
Circle - 1(1)(2), Vadodara. ..................Appellant
FAG Bearing India Limited, ................Respondent
P.O. Maneja,
Vadodara - 390 013.
[PAN: AAACF 3357 Q]
Appearances by
O.P. Sharma for the appellant
Bhavin J. Marfatia for the respondent
Hearing concluded on: 24/01/2017
Order pronounced on : 24/01/2017
O R D E R
Per Pramod Kumar, AM:
1. By way of this appeal, the Assessing Officer has challenged correctness of the CIT(A)'s order dated 26th October, 2015, in the matter of appeal effect proceedings as a result of Tribunal's order dated 14.11.2014, on the following ground ::-
"On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in by deleting the entire addition on account of transfer pricing by without going to merits of case and facts and ignored the TPO's contention submitted through remand report and the directions of Hon'ble ITAT that the Arms Length price of international transactions of the appellant should be determined at entity level by following TNM method."
2. When this appeal came up for hearing, learned representatives fairly agreed that this appeal is ill-conceived inasmuch as the impugned order only gives effect to the I T A N o. 1 0 8/ A h d/ 2 0 1 6 Ass ess me nt Yea r: 2002 -03 Page 2 of 2 Tribunal's order which is already in appeal before the Hon'ble High Court. The grievance before us is thus clearly misplaced.
3. In the result, the appeal is dismissed. Pronounced in the open Court on this 24th day of January, 2017.
Sd/- Sd/-
S S Godara Pramod Kumar
(Judicial Member) (Accountant Member)
Dated: 24 th day of January, 2017.
Copies to: (1) The appellant (2) The respondent
(3) CIT (4) CIT(A)
(5) DR (6) Guard File
By order
Assistant Registrar
Income Tax Appellate Tribunal
Ahmedabad benches, Ahmedabad