Castrol India Ltd. v. Addl. CIT

151 ITD 76Income Tax Appellate Tribunal2014#22811 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2017.

Judgments citing Castrol India Ltd. v. Addl. CIT

DCIT (IT) -4(2)(1), MUMBAI vs. SAFEGATE INTERNATIONAL AB, MUMBAI

In the result, appeal is dismissed

ITA 1599/MUM/2015[2011-12]Status: DisposedITAT Mumbai08 Nov 2017AY 2011-12

Bench: Shri Saktijit Dey & Shri G. Manjunatha

For Appellant: Shri Madhur Agarwal a/wFor Respondent: Shri Samuel Darse

…. This according to the learned Departmental Representative, indicates that the title of goods did not pass outside India. In this context, he relied upon the decision of the Tribunal, Delhi Bench, in Baker Hughes Asia Pacific Ltd. and others v/s ACIT, [2014] 151 ITD 76 (Del.). Learned Departmental Representative submitted, 10 M/s. Safegate International A.B. there is no separate agreement with regard to off–shore supply of material Further, separate price for off–shore and on–shore contract is purely on ad–hoc basis, hence, not reliable. Therefore, it will be incorrect to conclude that the contract is divisible…

REGEN POWERTECH PRIVATE LMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the Assessee and Department are allowed for statistical purpose

ITA 786/CHNY/2016[2011-12]Status: DisposedITAT Chennai17 Aug 2016AY 2011-12

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. B. Ramakrishnan, FCAFor Respondent: Shri. Anuragh Sahay, CIT
Section 143(2)Section 143(3)Section 14ASection 2(24)(xviii)Section 37(1)

…be stated as mere 'constituent chemicals' and equate it to standard bought-out component so as to reduce their cost from sales value for purposes of computing net sales value’’. ITA No.766 & 786/Mds/2016 :- 8 -: In the case Castrol India Ltd vs. Addl. CIT 151 ITD 76 (Mumbai), held that ‘’Net sales of assessee after excluding export sale and other income were to extent of Rs. 1118.70 crores and royalty paid thereon at Rs. 24.38 crore being less than rate of 3.5% approved by SIA. There was no case of any excess payment made of royalty by assessee than approved by SIA to justify its disallowance by way of TP adj…

DCIT, CHENNAI vs. REGEN POWERTECH (P) LTD., CHENNAI

In the result, the appeal of the Assessee and Department are allowed for statistical purpose

ITA 766/CHNY/2016[2011-12]Status: DisposedITAT Chennai17 Aug 2016AY 2011-12

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. B. Ramakrishnan, FCAFor Respondent: Shri. Anuragh Sahay, CIT
Section 143(2)Section 143(3)Section 14ASection 2(24)(xviii)Section 37(1)

…be stated as mere 'constituent chemicals' and equate it to standard bought-out component so as to reduce their cost from sales value for purposes of computing net sales value’’. ITA No.766 & 786/Mds/2016 :- 8 -: In the case Castrol India Ltd vs. Addl. CIT 151 ITD 76 (Mumbai), held that ‘’Net sales of assessee after excluding export sale and other income were to extent of Rs. 1118.70 crores and royalty paid thereon at Rs. 24.38 crore being less than rate of 3.5% approved by SIA. There was no case of any excess payment made of royalty by assessee than approved by SIA to justify its disallowance by way of TP adj…

Castrol India Ltd. v. Addl. CIT (151 ITD 76) — Cited in 3 Judgments | BharatTax