Case Law Details
Teleperformance Global Services Private Limited Vs ACIT (ITAT Mumbai)
ITAT Mumbai held that issuance of manual final assessment order without containing DIN (Document Identification Number) is deemed to have never been issued. Accordingly, the impugned order is unsustainable in law.
Facts- The assessee is engaged in the business of providing IT-enabled services. The assessee filed the ROI for AY 2017-18 declaring NIL income as per the normal provisions of the Act and book profits of Rs.1,38,16,45,117 u/s. 115JB of the Income Tax Act,1961. The return was originally processed u/s. 143(1) where the income under the normal provisions was assessed at Rs.77,37,83,380 and the income u/s. 115JB was retained at the same as in the return of income. Subsequently, the return was selected for scrutiny under CASS and the statutory notices are duly served on the assessee.
Since the assessee had international transactions with its Associated Enterprise (AE) a reference was made to the Transfer Pricing Officer in order to determine the arm’s length price of the international transactions. The TPO made a TP adjustment of Rs.7,90,77,518.
AO passed a draft assessment in which the assessing officer retained the disallowances made u/s. 143(1) Rs.6,05,18,177 and besides the TP adjustment, the assessing officer further made a disallowance of Rs.70,87,66,411 towards depreciation on goodwill and also disallowed the unabsorbed depreciation of Rs.1,45,93,19,199. The assessed income as per the draft assessment order was Rs.2,30,76,81,305. Aggrieved the assessee filed its objections before the DRP.
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