ACIT v. Tara Ultimo Pvt Ltd.

THE DCIT, CIRCLE-1(1)(1), VADODARA vs. GULBRANDSEN CHEMICALS PVT. LTD, VADODARA

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 559/Ahd/2020 िनधा"रण वष"/Asstt. Years: 2011-12 D.C.I.T., Gulbrandsen Chemicals Pvt. Ltd, Circle-1(1)(1), Vs. On Coastal Highway, Vadodara. Mujpur, Tal. Padra, Vadodara.

…he TPO has compared average of intra-AE transactions and independent transactions. This approach, though in the case of application of Cost Plus Method, has been rejected by a coordinate bench of this Tribunal in the case ofACIT Vs Tara Ultimo Pvt Ltd [(2012) 143 TTJ 91 (Mum)j, though the same reasoning will be equally applicable in respect of the CUP as well as the computation mechanism, in that respect, is materially similar. In this case, speaking through one of us (i.e. the Vice President), the coordinate bench had observed as follows: The way this rule works, the benchmark gross profit is to be applied on ea…

GULBRANDSEN CHEMICALS PRIVATE LIMITED,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, the appeal is allowed in the terms indicated above

…e TPO has compared average of intra-AE transactions and independent transactions. This approach, though in the case of application of Cost Plus Method, has been rejected by a coordinate bench of this Tribunal in the case of ACIT Vs Tara Ultimo Pvt Ltd [(2012) 143 TTJ 91 (Mum)], though the same reasoning will be equally applicable in respect of the CUP as well as the computation mechanism, in that respect, is materially similar. In this case, speaking through one of us (i.e. the Vice President), the coordinate bench had observed as follows: ITA No.: 2276/Ahd/2013 Assessment year: 2008-09 Page 7 of 11 The way thi…

GULBRANDSEN CHEMICALS PVT.LTD.,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeal of the assessee is allowed, the appeal of the revenue is dismissed

…e TPO has compared average of intra-AE transactions and independent transactions. This approach, though in the case of application of Cost Plus Method, has been rejected by a coordinate bench of this Tribunal in the case of ACIT Vs Tara Ultimo Pvt Ltd [(2012) 143 TTJ 91 (Mum)], though the same reasoning will be equally applicable in respect of the CUP as well as the computation mechanism, in that respect, is materially similar. In this case, speaking through one of us (i.e. the Vice President), the coordinate bench had observed as follows: The way this rule works, the benchmark gross profit is to be applied on e…

THE DCIT, CIRCLE-1(1),, BARODA vs. GULBRANDSEN CHEMICALS PVT.LTD.,, BARODA

Appeal of the assessee is allowed, the appeal of the revenue is dismissed

…e TPO has compared average of intra-AE transactions and independent transactions. This approach, though in the case of application of Cost Plus Method, has been rejected by a coordinate bench of this Tribunal in the case of ACIT Vs Tara Ultimo Pvt Ltd [(2012) 143 TTJ 91 (Mum)], though the same reasoning will be equally applicable in respect of the CUP as well as the computation mechanism, in that respect, is materially similar. In this case, speaking through one of us (i.e. the Vice President), the coordinate bench had observed as follows: The way this rule works, the benchmark gross profit is to be applied on e…