DIC India Ltd. Vs. DCIT, Circle-11(1), Kolkata
Case No: I.T.A. No. 1858/Kol/2024
Court: INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA
Date: 3/19/2025
Parties Involved
appellantDIC India Ltd.
respondentDCIT, Circle-11(1), Kolkata
Facts Summary
The appeal filed by DIC India Ltd. is against the order of the Assessing Officer, Assessment Unit, Income Tax Department dated 26.07.2024 for AY 2020-21 passed under section 143(3) read with section 144C(13) r.w.s. 144B of the Income Tax Act, 1961. The primary issues involved are the transfer pricing adjustment of Rs.99,95,076/- and the disallowance of club expenses of Rs.3,73,864/-. DIC India Ltd. is engaged in the business of manufacture and trading of printing inks and allied products. The co…
Decision in favour of
Assessee
Legal Issues
- 1. Disallowance of club expenses of Rs.3,73,864/-
- 2. Transfer pricing adjustment using Transactional Net Margin Method (TNMM) with segmental accounts
1 more legal issue analysed in this judgement.
Precedents Relied Upon
4 precedents cited in this judgement.