CIT v. Cotton Naturals (I) (P.) Ltd.

55 Taxmann.com 523High Court2015#291 most cited

What is CIT v. Cotton Naturals (I) (P.) Ltd. authority for?

The interest rate for benchmarking foreign currency loans advanced to Associated Enterprises should be the market-determined rate applicable to the currency of the loan, such as LIBOR for US Dollar loans, rather than a domestic lending rate like the Indian PLR.

273

judgments rely on this decision, according to BharatTax’s citation analysis of 368,382 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Cotton Naturals (I) (P.) Ltd. · 55 Taxmann.com 523 · 231 Taxmann 401 · section 92B · section 92CA(3) · arm's length interest · foreign currency loan · outstanding receivables · LIBOR · PLR · benchmarking interest · associated enterprise

Also reported as

231 Taxmann 401

Sections most often in play

Section 143(3)Section 92BSection 144C(13)Section 144BSection 144C(5)Section 234BSection 92CA(3)Section 234C
Read the full judgment

Issues it is cited on

interest on outstanding receivablessection 92b(1)safe harbour rulessafe harboursection 92bsection 72asection 92(1)preliminary expensescup methodcorporate guaranteeworking capital adjustmenttransfer pricing order

Judgments citing CIT v. Cotton Naturals (I) (P.) Ltd.

Jsw Energy Limited, Mumbai vs. The Assistant Commissioner of Income Tax, Central Circle 8(3), Mumbai

In the result, both the appeals are allowed partly for statistical

ITA 3714/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Mar 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: Mr. Gaurav KabraFor Respondent: Ms. Neena Jeph, CIT-DR/
Section 115JSection 14ASection 37Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos.3714/MUM/2024 Assessment Year: 2020-21 JSW Energy Ltd., 2nd floor, JSW Centre, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN NO. AAACJ 8109 N Appellant Vs. The Asst. CIT, Central Circle-8(3), Room No. 659, 6th floor, Aayakar Bhavan, Maharishi Karve Road, Mumbai-400020. Respondent ITA Nos.3713/MUM/2024 Assessment Year: 2020-21 JSW Energy (Barmer) Ltd., 2nd floor, JSW Centre, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN NO. AAACR8812 N…

Kantar Gdc India Private Limited, Hyderabad vs. DCIT., Circle - 2(1), Hyderabad

The appeal of the assessee is partly allowed for statistical purposes

ITA 804/HYD/2024[2020-21]Status: DisposedITAT Hyderabad19 Mar 2025AY 2020-21

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri Ajit Kumar Jain, C.AFor Respondent: Ms. M. Narmada, CIT-DR
Section 115JSection 143(3)Section 156

…आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.274 & 804/Hyd/2024 (निर्धारण वर्ा/Assessment Years:2017-18 & 2020-21) M/s. Kantar GDC India Pvt. Ltd., Dy. Commissioner of Income Tax, Vs. Hyderabad. / Asst. Commissioner of Income PAN: AABCN2278F Tax, Circle 2(1), Hyderabad. (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri Ajit Kumar Jain, C.A. रधजस् व द्वधरध/Revenue by: Ms. M. Narmada, CIT-DR सुिवधई की तधरीख/Date of hearing: 13.02.2025 घोर्णध…

Kantar Gdc India Private Limited, Hyderabad vs. ACIT., Circle - 2(1), Hyderabad

The appeal of the assessee is partly allowed for statistical purposes

ITA 274/HYD/2024[2017-18]Status: DisposedITAT Hyderabad19 Mar 2025AY 2017-18

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri Ajit Kumar Jain, C.AFor Respondent: Ms. M. Narmada, CIT-DR
Section 115JSection 143(3)Section 156

…आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.274 & 804/Hyd/2024 (निर्धारण वर्ा/Assessment Years:2017-18 & 2020-21) M/s. Kantar GDC India Pvt. Ltd., Dy. Commissioner of Income Tax, Vs. Hyderabad. / Asst. Commissioner of Income PAN: AABCN2278F Tax, Circle 2(1), Hyderabad. (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri Ajit Kumar Jain, C.A. रधजस् व द्वधरध/Revenue by: Ms. M. Narmada, CIT-DR सुिवधई की तधरीख/Date of hearing: 13.02.2025 घोर्णध…

Harsco India Private Limited, Hyderabad vs. DCIT., Circle 2(1), Hyderabad

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

ITA 1041/HYD/2024[2021-22]Status: DisposedITAT Hyderabad06 Mar 2025AY 2021-22

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita No.1041/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2021-22) Harsco India (P) Ltd Vs. Dy. Commissioner Of Hyderabad Income Tax, Circle 2(1) Pan:Aacch0555L Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Ca Suvibha Nolka राज" व "ारा/Revenue By:: Shri B Bala Krishna, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 08/01/2025 घोषणा की तारीख/Pronouncement: 06/03/2025 आदेश/Order

For Appellant: CA Suvibha NolkaFor Respondent: : Shri B Bala Krishna, CIT(DR)
Section 143(3)Section 144C(5)

…ITA No 1041 of 2024 HARSCO India Private Ltd आयकर अपील"य अ"धकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ A ‘ Bench, Hyderabad Before Shri Vijay Pal Rao, Vice-President A N D Shri Manjunatha, G. Accountant Member आ.अपी.सं /ITA No.1041/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2021-22) HARSCO India (P) Ltd Vs. Dy. Commissioner of Hyderabad Income Tax, Circle 2(1) PAN:AACCH0555L Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee by: CA Suvibha Nolka राज" व "ारा/Revenue by:: Shri B Bala Krishna, CIT(DR) सुनवाई की तारीख/Date of hearing: 08/01/2025 घोषणा की तारीख/Pronouncement: 06/03/20…

Varian Medical Systems International (India) Private Limited, Mumbai vs. Assistant Commissioner /Dy. Commissioner of Income Tax Circle 3(3)(1), Mumbai

In the result the appeal filed by the assessee in ITA No

ITA 5086/MUM/2024[2020-21]Status: DisposedITAT Mumbai28 Feb 2025AY 2020-21

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 143(3)Section 144BSection 144CSection 144C(13)Section 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) AND SHRI OMKARESHWAR CHIDARA (ACCOUNTANT MEMBER) I.T.A. No. 5060/Mum/2024 Assessment Year: 2020-21 & I.T.A. No. 5086/Mum/2024 Assessment Year: 2020-21 Varian Medical Systems Vs. Assistant International (India) Commissioner/ Dy. Private Limited Commissioner of Unit No 9A, 9th Floor, Income Tax Circle North Tower, Godrej One, (3)(3)(1) Pirojshanagar, Eastern Aayakar Bhawan, Express Highway, Vikhroli Maharshi Karve East, Road, New Marine Mumbai- 400079 Lines, Churchgate, PAN: AADCV0767H Mumbai-400020 (Appellant) (Res…

Varian Medical Systems International (India) Private Limited, Mumbai vs. Assistant, Deputy Commissioner of Income Tax, Mumbai

In the result the appeal filed by the assessee in ITA No

ITA 5060/MUM/2024[2020-21]Status: DisposedITAT Mumbai28 Feb 2025AY 2020-21

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 143(3)Section 144BSection 144CSection 144C(13)Section 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) AND SHRI OMKARESHWAR CHIDARA (ACCOUNTANT MEMBER) I.T.A. No. 5060/Mum/2024 Assessment Year: 2020-21 & I.T.A. No. 5086/Mum/2024 Assessment Year: 2020-21 Varian Medical Systems Vs. Assistant International (India) Commissioner/ Dy. Private Limited Commissioner of Unit No 9A, 9th Floor, Income Tax Circle North Tower, Godrej One, (3)(3)(1) Pirojshanagar, Eastern Aayakar Bhawan, Express Highway, Vikhroli Maharshi Karve East, Road, New Marine Mumbai- 400079 Lines, Churchgate, PAN: AADCV0767H Mumbai-400020 (Appellant) (Res…

Anand Nvh Products P.Ltd, New Delhi vs. DCIT, New Delhi

The appeal of the assessee is allowed with consequences to follow as per determination of the grounds as above

ITA 705/DEL/2022[2017-18]Status: DisposedITAT Delhi02 Dec 2024AY 2017-18

Bench: Shri Anubhav Sharma & Shri Brajesh Kumar Singhassessment Year: 2017-18 Anand Nvh Products P. Ltd., Vs Dcit, F-3/5, Vasant Vihar, Circle-1(1), New Delhi – 110 057. New Delhi. Pan: Aaeca0297J

For Appellant: Shri Mukesh BhutaniFor Respondent: Shri Dharamvir Singh, CIT-DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : I : NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER Assessment Year: 2017-18 Anand NVH Products P. Ltd., Vs DCIT, F-3/5, Vasant Vihar, Circle-1(1), New Delhi – 110 057. New Delhi. PAN: AAECA0297J (Appellant) (Respondent) Assessee by : Shri Mukesh Bhutani, Shri Saurabh Nandy & Ms Drishti Goel, Advocates Revenue by : Shri Dharamvir Singh, CIT-DR Date of Hearing : 17.10.2024 Date of Pronouncement : 02.12.2024 ORDER PER ANUBHAV SHARMA, JM: This appeal is preferred by the Assessee against the final assessme…

Aurobindo Pharma Limited (Auronext Pharma Private Limited Since Amalgamated With Aurobindo Pharma Limited), Hyderabad vs. DCIT., Circle-1(1), Hyderabad

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

ITA 893/HYD/2024[2020-21]Status: DisposedITAT Hyderabad26 Nov 2024AY 2020-21

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

For Appellant: Shri B. G. Reddy, AdvocateFor Respondent: : Shri P.V. Pradeep Kumar, CIT-DR
Section 143(3)Section 92B

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad BEFORE SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA No.893/Hyd/2024 (निर्धारण वर्ा/Assessment Year:2020-21) Erstwhile Amalgamating Company – Dy. Commissioner of Income Tax, Vs. Circle 1(1), Hyderabad. M/s. Aurobindo Pharma Limited PAN: AABCA7366H (Now amalgamated company – M/s. Auronext Pharma Private Limited, Hyderabad, Telangana. PAN:AAHCA7988H) (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri B. G. Reddy, Advocate रधजस्‍व द्वधरध/Revenue by::…

Osi Systems Private Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad

In the result, appeal of the assessee is allowed in part

ITA 2379/HYD/2018[2014-15]Status: DisposedITAT Hyderabad09 Oct 2024AY 2014-15

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं / Ita No.2379/Hyd/2018 (धििाारण वर्ा / Assessment Year: 2014-15)

For Appellant: Shri Darpan Kirpalani, ARFor Respondent: Shri B.Balakrishna, CIT-DR
Section 143(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI MANJUNATHA G., ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No.2379/Hyd/2018 (धििाारण वर्ा / Assessment Year: 2014-15) OSI Systems Private Dy.Commissioner of Limited Vs. Income Tax, Hyderabad Circle-16(2), [PAN : AAACO4438M] Hyderabad अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent धििााररती द्वारा/Assessee by: Shri Darpan Kirpalani, AR राजस्‍व द्वारा/Revenue by: Shri B.Balakrishna, CIT-DR सुिवाई की तारीख/Date of hearing: 01/10/2024 घोर्णा की तारीख/Pronouncement on:…

Microchip Technology (India) Private Limited, Bengaluru vs. DCIT Circle -5(1), Hyderabad

In the result, appeal of the assessee is allowed in part

ITA 509/HYD/2022[2018-19]Status: DisposedITAT Hyderabad11 Sept 2024AY 2018-19

Bench: Shri Manjunatha G. & Shri K.Narasimha Chary

For Appellant: Ms.Tanmayee Rajkumar, ARFor Respondent: Ms. TH Vijaya Lakshmi, DR
Section 143(2)Section 143(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI MANJUNATHA G., ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No.509/Hyd/2022 (निर्धारण वर्ा / Assessment Year: 2018-19) Microchip Technology (India) Private Ltd. Deputy (for the merged entity Microsemi India Vs. Commissioner of Private Limited) Income Tax Bengaluru Circle-5(1) [PAN :AABCM9868J] Hyderabad अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धाररती द्वधरध/Assessee by: Ms.Tanmayee Rajkumar, AR रधजस्‍व द्वधरध/Revenue by: Ms. TH Vijaya Lakshmi, DR सुिवधई की…

Aurobindo Pharma Limited, Hyderabad vs. ACIT., Central Circle-1(2), Hyderabad

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed in part

ITA 352/HYD/2023[2017-18]Status: DisposedITAT Hyderabad25 Jul 2024AY 2017-18

Bench: Shri Manjunatha, G. & Shri K.Narasimha Charyआ.अपी.सं / Ita No. 352/Hyd/2023 (निर्धारण वर्ा / Assessment Year: 2017-18)

For Appellant: Adv. B.G. ReddyFor Respondent: Shri Kumar Pranav,CIT( DR)
Section 35Section 92B

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI MANJUNATHA, G. ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No. 352/Hyd/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Aurobindo Pharma Ltd Vs. A.C.I.T Hyderabad Central Circle 1(2), [PAN : AABCA7366H] Hyderabad (Appellant) (Respondent) Assessment Year 2017-18 A.C.I.T Vs. Aurobindo Pharma Ltd Central Circle 1(2), Hyderabad Hyderabad [PAN : AABCA7366H] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Adv. B.G. Reddy रधजस्‍व द्वधरध/Revenue by: Shri Kumar Pr…

ACIT, Central Circle-1(2), Hyderabad vs. Aurobindo Pharma Limited, Hyderabad

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed in part

ITA 321/HYD/2023[2017-18]Status: DisposedITAT Hyderabad25 Jul 2024AY 2017-18

Bench: Shri Manjunatha, G. & Shri K.Narasimha Charyआ.अपी.सं / Ita No. 352/Hyd/2023 (निर्धारण वर्ा / Assessment Year: 2017-18)

For Appellant: Adv. B.G. ReddyFor Respondent: Shri Kumar Pranav,CIT( DR)
Section 35Section 92B

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI MANJUNATHA, G. ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No. 352/Hyd/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Aurobindo Pharma Ltd Vs. A.C.I.T Hyderabad Central Circle 1(2), [PAN : AABCA7366H] Hyderabad (Appellant) (Respondent) Assessment Year 2017-18 A.C.I.T Vs. Aurobindo Pharma Ltd Central Circle 1(2), Hyderabad Hyderabad [PAN : AABCA7366H] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Adv. B.G. Reddy रधजस्‍व द्वधरध/Revenue by: Shri Kumar Pr…

Aurobindo Pharma Limited, Hyderabad Knowledge City vs. ACIT., Central Circle-1(2), Hyderabad

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed in part

ITA 351/HYD/2023[2016-17]Status: DisposedITAT Hyderabad23 Jul 2024AY 2016-17

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita No. 320/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Acit, Central Circle 1(2) Vs. Aurobindo Pharma Ltd Hyderabad Hyderabad [Pan : Aabca7366H] आ.अपी.सं / Ita No. 351/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Aurobindo Pharma Ltd Vs. Acit, Central Circle 1(2) Hyderabad Hyderabad Pan: Aabca7366H अपीलाथ" / Appellant "" यथ" / Respondent राज" व "ारा/Revenue By: Shri M Vijay Kumar, Cit(Dr) िनधा"रती "ारा/Assessee By: Advocate Bg Reddy

For Appellant: Advocate BG ReddyFor Respondent: Shri M Vijay Kumar, CIT(DR)
Section 35

…आयकर अपीलीय अिधकरण, हैदराबाद पीठ म" IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER & SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं / ITA No. 320/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) ACIT, Central Circle 1(2) Vs. Aurobindo Pharma Ltd Hyderabad Hyderabad [PAN : AABCA7366H] आ.अपी.सं / ITA No. 351/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Aurobindo Pharma Ltd Vs. ACIT, Central Circle 1(2) Hyderabad Hyderabad PAN: AABCA7366H अपीलाथ" / Appellant "" यथ" / Respondent राज" व "ारा/Revenue by: Shri M Vijay Kumar, CIT(DR) िनधा"रत…

ACIT, Central Circle-1(2), Hyderabad vs. Aurobindo Pharma Limited, Hyderabad

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed in part

ITA 320/HYD/2023[2016-17]Status: DisposedITAT Hyderabad23 Jul 2024AY 2016-17

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita No. 320/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Acit, Central Circle 1(2) Vs. Aurobindo Pharma Ltd Hyderabad Hyderabad [Pan : Aabca7366H] आ.अपी.सं / Ita No. 351/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Aurobindo Pharma Ltd Vs. Acit, Central Circle 1(2) Hyderabad Hyderabad Pan: Aabca7366H अपीलाथ" / Appellant "" यथ" / Respondent राज" व "ारा/Revenue By: Shri M Vijay Kumar, Cit(Dr) िनधा"रती "ारा/Assessee By: Advocate Bg Reddy

For Appellant: Advocate BG ReddyFor Respondent: Shri M Vijay Kumar, CIT(DR)
Section 35

…आयकर अपीलीय अिधकरण, हैदराबाद पीठ म" IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER & SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं / ITA No. 320/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) ACIT, Central Circle 1(2) Vs. Aurobindo Pharma Ltd Hyderabad Hyderabad [PAN : AABCA7366H] आ.अपी.सं / ITA No. 351/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Aurobindo Pharma Ltd Vs. ACIT, Central Circle 1(2) Hyderabad Hyderabad PAN: AABCA7366H अपीलाथ" / Appellant "" यथ" / Respondent राज" व "ारा/Revenue by: Shri M Vijay Kumar, CIT(DR) िनधा"रत…

M/S Kantar Gdc India Pvt. Ltd. (Formerly Tns India Pvt Ltd), Hyderabad vs. Dy. Commissioner of Income Tax, Circle-2(2), Hyderabad

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 2261/HYD/2017[2013-14]Status: HeardITAT Hyderabad03 Jun 2024AY 2013-14

Bench: Shri Mahavir Singh & Shri Manjunatha, G.आ.अपी.सं /Ita No.2261/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2013-14) M/S. Kantar Gdc India (P) Vs. Dy. C. I. T. Ltd (Formerly Tns India (P) Circle 2(2) Ltd, Hyderabad Hyderabad Pan:Aabcn2278F (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Advocate Harpreet Singh Ajmani राज" व "ारा/Revenue By:: Shri Shiva Sewak, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 15/05/2024 घोषणा की तारीख/Pronouncement: 03/06/2024 आदेश/Order

For Appellant: Advocate Harpreet Singh AjmaniFor Respondent: : Shri Shiva Sewak, CIT(DR)
Section 143(3)Section 144C(5)Section 271(1)(c)

…018-19 has considered an identical issue and after considering the relevant facts and also by following certain judicial precedents including the decision of the Hon'ble Bombay High Court in the case of CIT vs. Cotton Naturals India (P) Ltd reported in (2015) 55 Taxmann.com 523 held that for the purpose of bench marketing the interest receivable on outstanding Page 10 of 16 ITA No 2261 of 2017 KANTAR GDC INDIA P LTD receivable from AE, the LIBOR+200 basis points is the appropriate rate of interest to be considered by the Assessing Officer. The relevant findings of the Tribunal are as under: “9. We have consid…

Satyam Venture Engineering Services Private Limited, Secunderabad vs. Assistant Commissioner of Income Tax, Central Circle -3(2), Hyderabad

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

ITA 192/HYD/2021[2016-17]Status: DisposedITAT Hyderabad31 May 2024AY 2016-17

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita-Tp No. 192/Hyd/2021 (धििाारण वर्ा / Assessment Year: 2016-17) Satyam Venture Assistant Commissioner Engineering Services Vs. Of Income Tax, Private Limited, Central Circle-3(2), Secunderabad Hyderabad [Pan No. Aafcs3287D] अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent

For Appellant: Shri E.V. Sri Krishna, ARFor Respondent: Ms. L. Sunitha Rao, CIT-DR
Section 143(3)Section 40

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER & SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं / ITA-TP No. 192/Hyd/2021 (धििाारण वर्ा / Assessment Year: 2016-17) Satyam Venture Assistant Commissioner Engineering Services Vs. of Income Tax, Private Limited, Central Circle-3(2), Secunderabad Hyderabad [PAN No. AAFCS3287D] अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent धििााररती द्वारा/Assessee by: Shri E.V. Sri Krishna, AR राजस्‍व द्वारा/Revenue by: Ms. L. Sunitha Rao, CIT-DR सुिवाई की तारीख/Date of h…

Tata International Ltd, Mumbai vs. DCIT RG 14(3)1), Mumbai

In the result, the ground no

ITA 1195/MUM/2015[2010-11]Status: DisposedITAT Mumbai28 May 2024AY 2010-11

Bench: Shri Anikesh Banerjee & Miss Padmavathy S.

For Appellant: Shri Nitesh Joshi a/w Ninad PatadeFor Respondent: Ms. Dhivya Ruth SR.DR
Section 143(3)Section 144C(5)Section 92CSection 92C(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND MISS PADMAVATHY S., ACCOUNTANT MEMBER ITA 1195/Mum/2015 (Assessment year : 2010-11) TATA INTERNATIONAL vs DCIT RG 14(3)(1) 4TH LIMITED, AAYAKAR BHAVAN, 7th Floor, Trent House, C-60, FLOOR, Block-G, Bandra Kurla R.NO.474 M.K.MARG, Complex, Bandra (East) MUMBAI-400 020 Mumbai-400 051 PAN :AAACT3198F APPELLANT RESPONDENT Assessee by : Shri Nitesh Joshi a/w Ninad Patade, Ms Hetal Sangani Respondent by : Ms. Dhivya Ruth SR.DR Date of hearing : 16/05/2024 Date of pronouncement : 28/05/2024 O R D E R PER ANIKE…

Value Momentum Software Services Private Limited, Hyderabad vs. ACIT, Circle-8(1), Hyderabad

In the result, appeal of the assessee is allowed in part

ITA 497/HYD/2022[2018-19]Status: DisposedITAT Hyderabad21 May 2024AY 2018-19

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

For Appellant: Ms. Tanmayee Rajkumar, ARFor Respondent: Smt. L. Sunitha Rao, CIT-DR
Section 143(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER & SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं / ITA-TP No. 497/Hyd/2022 (नििाारण वर्ा / Assessment Year: 2018-19) ValueMomentum Software Vs. Asst. Commissioner of Services Private Limited, Income Tax, Hyderabad Circle-8(1), [PAN No. AAACI7400H] Hyderabad अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent नििााररती द्वारा / Assessee by: Ms. Tanmayee Rajkumar, AR राजस्‍व द्वारा / Revenue by: Smt. L. Sunitha Rao, CIT-DR सुिवाई की तारीख/Date of hearing: 08/…

Pr. Commissioner of Income Tax -1 (International Taxation) vs. M/S A T Kearney Limited (India Branch Office)

ITA/463/2022HC Delhi21 Mar 2024

Bench: HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV,HON'BLE MR. JUSTICE YASHWANT VARMA

…any expenditure incurred by him for the purpose of business carried on by him has actually resulted in profit or income either in the same year or in the subsequent years. 15. The Hon'ble High Court of Delhi in the case of Cotton Naturals India [P] Ltd 276 CTR 445 at para 17 of its order has held that “Chapter X and Transfer Pricing rules do not permit the Revenue authorities to step into the shoes of the assessee and decide whether or not a transaction should have been entered. It is for the assessee to take commercial decisions and decide how to conduct and carry on its business.” 16. It is incorr…

At Kearney Ltd.- India Branch Office, Gurgaon vs. DCIT, Circle- 1(1)(1), International Taxation, New Delhi

In the result, appeals of the Assessee’s in ITA Nos

ITA 960/DEL/2018[2013-14]Status: DisposedITAT Delhi28 Feb 2024AY 2013-14

Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 234ASection 271(1)(c)Section 27l

…w that any expenditure incurred by him for the purpose of business carried on by him has actually resulted in profit or income either in the same year or in the subsequent years. 15. The Hon'ble High Court of Delhi in the case of Cotton Naturals India [P] Ltd 276 CTR 445 at para 17 of its order has held that “Chapter X and Transfer Pricing rules do AT Kearney Limited vs. DCIT not permit the Revenue authorities to step into the shoes of the assessee and decide whether or not a transaction should have been entered. It is for the assessee to take commercial decisions and decide how to conduct and carry on its busin…