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Consortium Members Not Individually Liable: ITAT Clarifies AOP Taxation
Case Law Details
- Case Name
- PICO Deepali Overlays Consortium Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
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PICO Deepali Overlays Consortium Vs DCIT (ITAT Delhi)
CWG Consortium Gets Major Relief: Cash & Jewellery Not Found at AOP Premises, Bogus Purchases & TP Additions All Quashed
Assessee, an unincorporated AOP formed for execution of Commonwealth Games 2010 overlay contracts, faced multiple additions pursuant to search assessments u/s 153A r.w.s. 254 & 144C, including addition u/s 69A for cash & jewellery seized, disallowance of alleged bogus purchases, blanket disallowance of expenses, & substantial transfer-pricing adjustments by treating intra-group services at NIL value.
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