Aztec Software & Technologies Services Ltd. v. Asstt. CIT

107 ITD 141Income Tax Appellate Tribunal2007#1260 most cited

What is Aztec Software & Technologies Services Ltd. v. Asstt. CIT authority for?

OECD Transfer Pricing Guidelines can be referred to for resolving transfer pricing disputes in India, even though India is not an OECD member, provided they are consistent with Indian statutory regulations. Availability of exemption under Section 10A does not bar the applicability of Section 92C and 92CA.

90

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2013 to 2026.

Also referred to as

Aztec Software & Technologies Services Ltd. v. Asstt. CIT · ITAT · 2007 · 107 ITD 141 · OECD Guidelines · Transfer Pricing Policy · Section 10A · Section 92C · Section 92CA · purposive interpretation · benchmarking analysis

Also reported as

162 Taxmann 119

Sections most often in play

Section 143(3)Section 144C(13)Section 144C(5)Section 234CSection 32(1)(ii)Section 37(1)Section 92C(2)Section 10A

Issues it is cited on

section 10b(8)section 132(1)(a)section 92f(ii)section 92(1)purposive interpretationsection 92c(2)cost plus methodsection 43afunctional analysissection 92fbenchmarking analysisr&d expenditure

Judgments citing Aztec Software & Technologies Services Ltd. v. Asstt. CIT

Greaves Cotton Ltd, Mumbai vs. Asst CIT Cir 7(1)(1), Mumbai

In the result appeal for assessment year 2012 –

ITA 2069/MUM/2017[2012-13]Status: DisposedITAT Mumbai25 Jul 2023AY 2012-13

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

For Appellant: Ms. Aarti Vissanji, Ms. Aastha &
Section 144CSection 35Section 92CSection 92C(3)Section 92F

…e principles of transfer pricing. Method of determination of the arm’s-length price of an international transaction is to be computed according to section 92C (1) & (3) of the act. Special bench in this case in Aztec Software & Technology Services Ltd. [2007] 107 ITD 141 (BANG.)(SB) affirmed by honourable Karnataka High Court in [2012] 23 taxmann.com 413 (Karnataka)/[2012] 209 Taxman 187 has clearly held as under:- “133. Having regard to the statutory provisions, particularly the mandate of sections 92(1) and 92D read with relevant rules, we hold that it is obligatory on the part of the taxpayer to furnish infor…

Greaves Cotton Ltd, Mumbai vs. Asst CIT 7(1)(1), Mumbai

In the result appeal for assessment year 2012 –

ITA 1745/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Jul 2023AY 2011-12

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

For Appellant: Ms. Aarti Vissanji, Ms. Aastha &
Section 144CSection 35Section 92CSection 92C(3)Section 92F

…e principles of transfer pricing. Method of determination of the arm’s-length price of an international transaction is to be computed according to section 92C (1) & (3) of the act. Special bench in this case in Aztec Software & Technology Services Ltd. [2007] 107 ITD 141 (BANG.)(SB) affirmed by honourable Karnataka High Court in [2012] 23 taxmann.com 413 (Karnataka)/[2012] 209 Taxman 187 has clearly held as under:- “133. Having regard to the statutory provisions, particularly the mandate of sections 92(1) and 92D read with relevant rules, we hold that it is obligatory on the part of the taxpayer to furnish infor…

Hindustan Construction Company Limited, Mumbai vs. NFAC, Delhi DCIT14(1)(1), Mumbai

In the result, the appeal of the assessee is treated as partly allowed for statistical purposes

ITA 581/MUM/2022[2017-18]Status: DisposedITAT Mumbai10 Mar 2023AY 2017-18

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

Section 143(3)

…t enterprise would have charged commission on providing such types of guarantees in respect of credit facilities obtained by other concern. Further, taking support of the decision rendered in the case of Aztec Software & Technology Service Ltd vs. ACIT (2007)(107 ITD 141)(Bang), the TPO proceeded to determine the ALP of provision of corporate guarantee to the AEs. In this regard, he examined the guarantee commission charged by various banks and noticed that the same ranged from 1.75% to 3% and the average rate of commission worked out to 2.18%. 3 Hindustan Construction Company Limited 4.2 The TPO further referr…

D.C.I.T., Circle-6(1), Kolkata vs. M/S Deepak Industries Ltd., Kolkata

In the result, the appeal of the revenue and CO of the assessee in A

ITA 264/KOL/2020[2015-16]Status: DisposedITAT Kolkata23 Jun 2022AY 2015-16

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 143(3)Section 32(1)(iia)Section 80ISection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. Nos. 263 & 264/Kol/2020 Assessment Years : 2014-15 & 2015-16 DCIT, Circle-6(1), Kolkata Vs. M/s Deepak Industries Ltd. (PAN: AAACD 8767 J) Appellant Respondent C.O. Nos. 04 & 05/Kol/2021 (Arising out of I.T.A. Nos. 263 & 264/Kol/2020) Assessment Years : 2014-15 & 2015-16 M/s Deepak Industries Ltd. Vs. DCIT, Circle-6(1), Kolkata (PAN: AAACD 8767 J) Cross-objector Respondent Date of Hearing 09.05.2022 Date of Pronouncement 23.06.2022 For the Appellant Shri Siddharth…

D.C.I.T., Circle-6(1), Kolkata vs. M/S Deepak Industries Ltd., Kolkata

In the result, the appeal of the revenue and CO of the assessee in A

ITA 263/KOL/2020[2014-15]Status: DisposedITAT Kolkata23 Jun 2022AY 2014-15

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 143(3)Section 32(1)(iia)Section 80ISection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. Nos. 263 & 264/Kol/2020 Assessment Years : 2014-15 & 2015-16 DCIT, Circle-6(1), Kolkata Vs. M/s Deepak Industries Ltd. (PAN: AAACD 8767 J) Appellant Respondent C.O. Nos. 04 & 05/Kol/2021 (Arising out of I.T.A. Nos. 263 & 264/Kol/2020) Assessment Years : 2014-15 & 2015-16 M/s Deepak Industries Ltd. Vs. DCIT, Circle-6(1), Kolkata (PAN: AAACD 8767 J) Cross-objector Respondent Date of Hearing 09.05.2022 Date of Pronouncement 23.06.2022 For the Appellant Shri Siddharth…

M/S. Transworld Ict Solutions (P) Ltd., Bangalore vs. DCIT, Bangalore

In the result, both the appeals are partly allowed

ITA 1310/BANG/2010[2007-08]Status: DisposedITAT Bangalore22 Mar 2022AY 2007-08

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1309 & 1310/Bang/2010 Assessment Years : 2006-07 & 2007-08 M/S. Transworld Ict Solutions Pvt. Ltd., Vs. Dcit, Innovator, No.15, Hoody, Whitefield Road, Circle – 2(1), Mahadevapura Post, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 17.03.2022 Date Of Pronouncement : 22.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92Section 92(1)Section 92B(1)

…on to search u/s.132 of the Act are satisfied or not. IT(TP)A Nos.1309 and 1310/Bang/2010 Page 10 of 42 10. As far as ground No.12 raised by the assessee is concerned, the Special Bench of the ITAT, Bengaluru, in the case of Aztec Softech Technology Vs. ACIT 107 ITD 141 Bengaluru (SB) has laid down proposition that there is no requirement of establishing that there has been an attempt to shift profits out of India before making a reference to the TPO and that before making a reference to the TPO, there is no requirement of affording assessee opportunity of being heard. 11. So also ground Nos.18 and 19 raised by…

M/S. Transworld Ict Solutions (P) Ltd., Bangalore vs. DCIT, Bangalore

In the result, both the appeals are partly allowed

ITA 1309/BANG/2010[2006-07]Status: DisposedITAT Bangalore22 Mar 2022AY 2006-07

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1309 & 1310/Bang/2010 Assessment Years : 2006-07 & 2007-08 M/S. Transworld Ict Solutions Pvt. Ltd., Vs. Dcit, Innovator, No.15, Hoody, Whitefield Road, Circle – 2(1), Mahadevapura Post, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 17.03.2022 Date Of Pronouncement : 22.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92Section 92(1)Section 92B(1)

…on to search u/s.132 of the Act are satisfied or not. IT(TP)A Nos.1309 and 1310/Bang/2010 Page 10 of 42 10. As far as ground No.12 raised by the assessee is concerned, the Special Bench of the ITAT, Bengaluru, in the case of Aztec Softech Technology Vs. ACIT 107 ITD 141 Bengaluru (SB) has laid down proposition that there is no requirement of establishing that there has been an attempt to shift profits out of India before making a reference to the TPO and that before making a reference to the TPO, there is no requirement of affording assessee opportunity of being heard. 11. So also ground Nos.18 and 19 raised by…

M/S. Transworld Ict Solutions (P) Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1308/BANG/2010[2005-06]Status: DisposedITAT Bangalore11 Mar 2022AY 2005-06

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

…tion precedent for issue of warrant of authorization to search u/s.132 of the Act are satisfied or not. 9. As far as ground No.11 raised by the assessee is concerned, the Special Bench of the ITAT, Bengaluru, in the case of Azetec Softech Technology Vs. ACIT 107 ITD 141 Bengaluru (SB) has laid down proposition that there is no requirement of establishing that there has been an attempt to shift profits out of India before making a reference to the TPO and that before making a reference to the TPO, there is no requirement of affording assessee opportunity of being heard. 10. So also ground Nos.16 and 17 raised by…

M/S. Transworld Ict Solutions (P) Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1307/BANG/2010[2004-05]Status: DisposedITAT Bangalore11 Mar 2022AY 2004-05

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

…tion precedent for issue of warrant of authorization to search u/s.132 of the Act are satisfied or not. 9. As far as ground No.11 raised by the assessee is concerned, the Special Bench of the ITAT, Bengaluru, in the case of Azetec Softech Technology Vs. ACIT 107 ITD 141 Bengaluru (SB) has laid down proposition that there is no requirement of establishing that there has been an attempt to shift profits out of India before making a reference to the TPO and that before making a reference to the TPO, there is no requirement of affording assessee opportunity of being heard. 10. So also ground Nos.16 and 17 raised by…

M/S. Transworld Ict Solutions (P) Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1306/BANG/2010[2003-04]Status: DisposedITAT Bangalore11 Mar 2022AY 2003-04

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

…tion precedent for issue of warrant of authorization to search u/s.132 of the Act are satisfied or not. 9. As far as ground No.11 raised by the assessee is concerned, the Special Bench of the ITAT, Bengaluru, in the case of Azetec Softech Technology Vs. ACIT 107 ITD 141 Bengaluru (SB) has laid down proposition that there is no requirement of establishing that there has been an attempt to shift profits out of India before making a reference to the TPO and that before making a reference to the TPO, there is no requirement of affording assessee opportunity of being heard. 10. So also ground Nos.16 and 17 raised by…

M/S. Transworld Ict Solutions (P) Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1305/BANG/2010[2002-03]Status: DisposedITAT Bangalore11 Mar 2022AY 2002-03

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

…tion precedent for issue of warrant of authorization to search u/s.132 of the Act are satisfied or not. 9. As far as ground No.11 raised by the assessee is concerned, the Special Bench of the ITAT, Bengaluru, in the case of Azetec Softech Technology Vs. ACIT 107 ITD 141 Bengaluru (SB) has laid down proposition that there is no requirement of establishing that there has been an attempt to shift profits out of India before making a reference to the TPO and that before making a reference to the TPO, there is no requirement of affording assessee opportunity of being heard. 10. So also ground Nos.16 and 17 raised by…

Atul Limited, Ahmedabad vs. The ACIT., Range-1, Ahmedabad

Appeal is dismissed

ITA 1681/AHD/2011[2005-06]Status: DisposedITAT Ahmedabad23 Feb 2022AY 2005-06
For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 250(6)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH (Conducted Through Virtual Court) Before: Ms. Annapurna Gupta, Accountant Member And Ms. Madhumita Roy, Judicial Member Assessment Year 2005-06 Atul Limited 3rd Floor, ACIT, Range-1, Ashoka Chambers, Rasala Ahmedabad Marg, Ellisbridge, Vs (Respondent) Ahmedabad-390 009 PAN: AABCA 2390M (Appellant) Appellant by : Shri Bandish Soparkar, A.R. Respondent by : Shri Mohd Usman, CIT/DR Date of hearing : 16-12-2021 Date of pronouncement : 23-02-2022 आदेश/ORDER PER : ANNAPURNA GUPTA, ACCOUNTANT MEMBER:- The present appeal has been filed by the Assessee a…

Wns Global Services P.Ltd, Mumbai vs. Asst CIT 10(2), Mumbai

In the result, appeal of the assessee is allowed for statistical purposes

ITA 7377/MUM/2010[2006-07]Status: DisposedITAT Mumbai06 Dec 2021AY 2006-07

Bench: Shri M.Balaganesh & Shri Amarjit Singhwns Global Services Pvt. Ltd., Vs. Asst. Commissioner Of Gate No.4, Godrej & Boyce Income Tax- 10(2) Complex, Mumbai Pirojshanagar, Vikhroli (W) Mumbai – 400 079 Pan/Gir No.Aaacw2598L (Appellant) .. (Respondent)

Section 10ASection 10A(9)Section 143(3)Section 144C(5)Section 92CSection 92C(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “J”, BENCH MUMBAI BEFORE SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI AMARJIT SINGH, JUDICIAL MEMBER WNS Global Services Pvt. Ltd., Vs. Asst. Commissioner of Gate No.4, Godrej & Boyce Income Tax- 10(2) Complex, Mumbai Pirojshanagar, Vikhroli (W) Mumbai – 400 079 PAN/GIR No.AAACW2598L (Appellant) .. (Respondent) Assessee by Shri Poras Kaka, Sr. Counsel & Shri Manish Kanth, Advocate Revenue by Ms. Varsha Saxena Date of Hearing 07/09/2021 Date of Pronouncement 06/12/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.7377/Mum/2010 for A.Y.2006-07 preferred b…

Tata Coffee Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal of the assessee is partly allowed, while the appeal by the department is dismissed

ITA 647/BANG/2016[2011-12]Status: DisposedITAT Bangalore29 Nov 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bangalore
Section 143(3)Section 92

…se of determining the arm's length price of international transactions and is to be preferred over the other profit based methods. Reliance is placed in this regard on the following decisions: - Aztec Software & Technologies Services Ltd. v. Asstt. CIT [2007] 107 ITD 141/162 Taxman 119 (Bang.) (SB) - UCB India (P.) Ltd. v. Asstt. CIT [2009] 30 SOT 95 (Mum.) - Gharda Chemicals Ltd. v. Oy. CIT [2010] 35 SOT 406 (Mum.) - Intervet India (P.) Ltd. v. Asstt. CIT [2010] 39 SOT 93 (Mum.) - Asstt. CIT v. Dufon Laboratories [2010] 39 SOT 59 (Mum.) 11" (b) The Mumbai Tribunal in the case of Serdia Pharmaceuticals (India) (P…

DCIT, Bangalore vs. M/S Tata Coffee Pvt. Ltd., Bangalore

In the result, the appeal of the assessee is partly allowed, while the appeal by the department is dismissed

ITA 560/BANG/2016[2011-12]Status: DisposedITAT Bangalore29 Nov 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bangalore
Section 143(3)Section 92

…se of determining the arm's length price of international transactions and is to be preferred over the other profit based methods. Reliance is placed in this regard on the following decisions: - Aztec Software & Technologies Services Ltd. v. Asstt. CIT [2007] 107 ITD 141/162 Taxman 119 (Bang.) (SB) - UCB India (P.) Ltd. v. Asstt. CIT [2009] 30 SOT 95 (Mum.) - Gharda Chemicals Ltd. v. Oy. CIT [2010] 35 SOT 406 (Mum.) - Intervet India (P.) Ltd. v. Asstt. CIT [2010] 39 SOT 93 (Mum.) - Asstt. CIT v. Dufon Laboratories [2010] 39 SOT 59 (Mum.) 11" (b) The Mumbai Tribunal in the case of Serdia Pharmaceuticals (India) (P…

DCIT, New Delhi vs. M/S. Hero Honda Motors Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6302/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…. 80-IA(8) of the Act. Underlying principles forming the basis of our findings given hereinbefore in this order are also supported by the decision of Special Bench of Hon'ble Bangalore Tribunal in Aztec Software & Technology Services Ltd. v. Asstt. CIT [2007] 107 ITD 141/15 SOT 49/162 Taxman 119 (Bang.) (SB) as well as Mumbai Tribunal decision in the case of Asstt. CIT v. Maersk Global Service Center (India)(P.) Ltd. [2011] 133 ITD 543/16 taxmann.com 47 (Mum.) wherein while interpreting the transfer pricing provisions, the Courts have held that it is the assessee who is the best judge to know the transactions und…

M/S. Hero Motocorp Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6282/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…. 80-IA(8) of the Act. Underlying principles forming the basis of our findings given hereinbefore in this order are also supported by the decision of Special Bench of Hon'ble Bangalore Tribunal in Aztec Software & Technology Services Ltd. v. Asstt. CIT [2007] 107 ITD 141/15 SOT 49/162 Taxman 119 (Bang.) (SB) as well as Mumbai Tribunal decision in the case of Asstt. CIT v. Maersk Global Service Center (India)(P.) Ltd. [2011] 133 ITD 543/16 taxmann.com 47 (Mum.) wherein while interpreting the transfer pricing provisions, the Courts have held that it is the assessee who is the best judge to know the transactions und…

Faurecia India Pvt.Ltd, (Formerly Known As Faurecia Interior Systems India Pvt.Ltd), Pune vs. Assistant Commissioner of Income-Tax, Circle -9, Pune

In the result, the appeal of assessee is allowed

ITA 1893/PUN/2018[2014-15]Status: DisposedITAT Pune05 Feb 2021AY 2014-15

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

For Appellant: Shri Ajit JainFor Respondent: Smt. Amrita Misra
Section 143(3)

…e and advanced analytical and technical skills which are provided with the use of information technology. The DRP considering the Safe Harbour Rules and the order of Special Bench of Bangalore ITAT in the case of Aztec Software & Technologies Ltd. reported in 107 ITD 141 and confirmed the view taken by the TPO for inclusion of Eclerx Services Ltd. in the comparables. 5 ITA No. 1893/PUN/2018, A.Y. 2014-15 8. The ld. AR, Shri Ajit Jain submitted that the Eclerx Services Ltd. is functionally not comparable as the said company is engaged in providing data analytics and data process solutions. The company’s income f…

Asst CIT 32(2), Mumbai vs. M/S Kapu Gems, Mumbai

In the result, appeal by the Revenue stand allowed for statistical purpose

ITA 3104/MUM/2019[2013-14]Status: DisposedITAT Mumbai01 Feb 2021AY 2013-14
Section 271GSection 92CSection 92C(1)Section 92D

…THE INCOME TAX APPELLATE TRIBUNAL “H” Bench, Mumbai Shri Shamim Yahya (AM) & Shri Ramlal Negi (JM) I.T.A. No. 3104/Mum/2019 (Assessment Year 2013-14) ACIT-32(2) M/s. Kapu Gems Vs. Room No. 720 E-Tower Centre Kautilya Bhavan EC-3021, 3rd Floor C-41-43, G Block Bharat Diamond BKC, Bandra East Bourse, BKC Mumbai-400 051. Bandra East Mumbai-400 051. PAN : AADFK3266D (Appellant) (Respondent) Assessee by Shri K Vaidya Lingam Department by Shri Gurbinder Singh Date of Hearing 11.11.2020 Date of Pronouncement 01.02.2021 O R D E R Per Shamim Yahya (AM) :- This is an appeal by the Revenue against the order of learne…

Marathon Electric India Pvt. Ltd., Faridabad vs. ACIT, Faridabad

In the result, the appeal of the assessee is partly allowed for statistical purpose

ITA 6100/DEL/2012[2008-09]Status: DisposedITAT Delhi27 Nov 2020AY 2008-09

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Marathon Electric India Pvt. Vs Acit Ltd. Circle-1 Sector-11, Faridabad Model Town Faridabad (Respondent) Aaacg5525H (Appellant)

Section 10BSection 144Section 254Section 92D

…06-07 ITAT Delhi H Bench, " SAP Labs India Pvt Ltd Vs ACIT 2011 44 SOT 156 Bangalore, " ITAT Special Bench Decision in the case of Aztec Software and Technologies Services Ltd Vs ACIT 2007 294 ITR (AT) 32 (Bang) SB, " Aztec Software and Technology Ltd Vs DCIT 107 ITD 141 (Bang) (SB), " UE Trade Corporation (India) (2011-TII-04-ITAT-Del-TP) and " M/s ADP Pvt. Ltd (2011-TII-44-ITAT-Hyd-TP). On the issue of Use of Current year data Vs. multiple year data, the Ld. DR relied upon the Jurisdictional High Court in the case of CIT Vs DENSO HARYANA PVT LTD (2009- TIOL- 696- DEL- IT), wherein this view has been affirmed.…