length price in accordance with Sub-section (3) of Section 92C . Sub-section (4) of Section 92CA provides that on receipt of the order ... done by the TPO under Sub-section (3) of Section 92CA read with Sub-section of Section 92C , the computation of total income having regard
M/S Dell International Services India ... vs Deputy Commissioner Of Income Tax Ltu , ... on 24
additions are governed by the provisions of section 92C. As per
proviso of section 92C(4), the addition of Rs.56.75 crores made ... issue is incorrect. The applicability of Proviso to sub
section (4) of section 92C was not considered by DRP while deciding
the objection raised
income under this sub-section."
18. On a reading of the above proviso to Section 92C(4) of the Act, it
may be noted ... modified
return filed under section 92CD of the Act as same is not hit by proviso to
section 92C(4) of the Act.
23. Accordingly
pointed out that sub-section (4) applies where an ALP is
determined by AO under sub-section (3) of section 92C. It is then pointed ... reason that a prohibition should exist in section 92C and not in
section 92CC. Section 92C deals with a situation where an assessee declares
eligible for
deduction. On the contrary, we find that sub-section (4) of section 92C plainly
stipulates that where an ALP is determined ... income under this sub-
section.
9.3. A circumspect perusal of this proviso read along with sub-section (4) of section
92C divulges that when
also pointed out that in case any disallowance is made under section 92C(4) of
the Act by the Assessing Officer, then the assessee ... books of account. The deduction under section 10A has not been
allowed as per proviso to section 92C(4) . As per this proviso, no deduction
Officer by relying on the provisions of section 10A ,
then the first proviso to section 92C (4) of the Act will be rendered
redundant which ... provisions of
section 92C , the Ld. Sr. DR submitted that the Act does not
empower adjustments u/s 92C(4) and since this adjustment
facts confirming reliance placed
by AO on proviso to sec. 92C (4) for rejecting deduction ... claimed
u/s 10B of the Act. Both the lower authorities erred in not
appreciating the legal position that proviso to sec. 92C (4
conditions as set out in sub-section (3) of Section 92C
are attracted. It follows that sub-section (4) of Section 92C is not
attracted ... said sub-section."
31. The said circular also amply clarifies that the first proviso to
sub-section (4) of Section 92C
