CIT v. EKL Appliances Ltd.

345 ITR 241High Court2012#172 most cited

What is CIT v. EKL Appliances Ltd. authority for?

Transfer pricing adjustments for outstanding receivables are permissible only if the Tax Officer establishes, through analysis over a period, a pattern indicating an international transaction intended to benefit an associated enterprise. The Tax Officer cannot question purely business decisions like royalty payments or exceed jurisdiction by applying cost-benefit analysis to determine the arm's length price of services.

422

judgments rely on this decision, according to BharatTax’s citation analysis of 369,743 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. EKL Appliances Ltd. · Section 92CA · outstanding receivables · interest on outstanding receivables · TPO jurisdiction · business decision · royalty payments · arm's length price · associated enterprise benefit · pattern of delay · intra-group services

Also reported as

24 Taxmann.com 199209 Taxmann 200250 CTR 264

Sections most often in play

Section 143(3)Section 144C(13)Section 234BSection 92CASection 144BSection 92CSection 234CSection 234D
Read the full judgment

Issues it is cited on

intra group servicesinterest on outstanding receivablescup methodtested partyfar analysisworking capital adjustmentsection 92bmost appropriate methodbenchmarking analysistransactional net margin methodcomparable companiesassociated enterprises

Judgments citing CIT v. EKL Appliances Ltd.

D.C.I.T., Circle-11(1), Kolkata vs. M/S. at & S India Limited, Karnataka

In the result, the appeal filed by the Revenue is dismissed

ITA 1311/KOL/2018[2014-15]Status: DisposedITAT Kolkata08 Sept 2022AY 2014-15

Bench: Shri Manish Borad & Shri Sonjoy Sarmai.T.A. No. 1311/Kol/2018 Assessment Year: 2014-15 Dcit, Circle-11(1), Kolkata M/S. At&S India Ltd. 12A, Industrial Area, Vs Nanjangud Mysore District Karnataka - 571301 Pan : Aaeca2930J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Smt. Rituparna Sinha, A.R. Revenue By : Shri Gaurav Kanaujia, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 28/07/2022 घोषणा क" तारीख /Date Of Pronouncement: 08/09/2022 आदेश/O R D E R Per Manish Borad:

For Appellant: Smt. Rituparna Sinha, A.RFor Respondent: Shri Gaurav Kanaujia, CIT, D/R
Section 250

…आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता । IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER & SHRI SONJOY SARMA, JUDICIAL MEMBER I.T.A. No. 1311/Kol/2018 Assessment Year: 2014-15 DCIT, Circle-11(1), Kolkata M/s. AT&S India Ltd. 12A, Industrial Area, Vs Nanjangud Mysore District Karnataka - 571301 PAN : AAECA2930J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Smt. Rituparna Sinha, A.R. Revenue by : Shri Gaurav Kanaujia, CIT, D/R सुनवाई क" तारीख/Date of Hearing : 28/07/2022 घोषणा क" तारीख /Date of Pronouncement: 08/09/2022 आदेश/O R D E R PER MANISH BORAD,…

DCIT, Circle-2(1)(1), Baroda vs. M/S. Sun Pharmaceuticals Industries Ltd., Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1520/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…the assessee to take commercial decisions and decide how to conduct and carry on its business. Actual business transactions that are legitimate cannot be restructured. A similar view was taken by the Hon’ble Delhi High Court in the case of EKL Appliances Ltd. 345 ITR 241. 9. On identical set of facts, the Co-ordinate Bench had the occasion to consider similar issue in the case of Cadila Healthcare Ltd. in ITA No. 2430/Ahd/12 with C.O. No. 242/Ahd/12 in 146 ITR 502 wherein the first ground related to the adjustment made on account of notional interest on Optionally Convertible Debenture to Foreign Subsidiary. The…

DCIT, Circle-2(1)(1), Baroda vs. M/S. Sun Pharmaceuticals Industries Ltd., Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1519/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…the assessee to take commercial decisions and decide how to conduct and carry on its business. Actual business transactions that are legitimate cannot be restructured. A similar view was taken by the Hon’ble Delhi High Court in the case of EKL Appliances Ltd. 345 ITR 241. 9. On identical set of facts, the Co-ordinate Bench had the occasion to consider similar issue in the case of Cadila Healthcare Ltd. in ITA No. 2430/Ahd/12 with C.O. No. 242/Ahd/12 in 146 ITR 502 wherein the first ground related to the adjustment made on account of notional interest on Optionally Convertible Debenture to Foreign Subsidiary. The…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1463/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…the assessee to take commercial decisions and decide how to conduct and carry on its business. Actual business transactions that are legitimate cannot be restructured. A similar view was taken by the Hon’ble Delhi High Court in the case of EKL Appliances Ltd. 345 ITR 241. 9. On identical set of facts, the Co-ordinate Bench had the occasion to consider similar issue in the case of Cadila Healthcare Ltd. in ITA No. 2430/Ahd/12 with C.O. No. 242/Ahd/12 in 146 ITR 502 wherein the first ground related to the adjustment made on account of notional interest on Optionally Convertible Debenture to Foreign Subsidiary. The…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Asst. Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

In the result, the appeal of the Revenue is partly allowed

ITA 1462/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…the assessee to take commercial decisions and decide how to conduct and carry on its business. Actual business transactions that are legitimate cannot be restructured. A similar view was taken by the Hon’ble Delhi High Court in the case of EKL Appliances Ltd. 345 ITR 241. 9. On identical set of facts, the Co-ordinate Bench had the occasion to consider similar issue in the case of Cadila Healthcare Ltd. in ITA No. 2430/Ahd/12 with C.O. No. 242/Ahd/12 in 146 ITR 502 wherein the first ground related to the adjustment made on account of notional interest on Optionally Convertible Debenture to Foreign Subsidiary. The…

Hp India Sales Private Limited, Bangalore vs. Joint Commissioner of Income Tax Ltu, Bangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 524/BANG/2017[2012-13]Status: DisposedITAT Bangalore18 Aug 2022AY 2012-13

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am It(Tp)A No.524/Bang/2017 : Asst.Year 2012-2013 M/S.Hp India Sales Private The Joint Commissioner Of Limited (Formerly Known As Income-Tax, Ltu V. Bangalore. Hewlett-Packard India Sales Private Limited), 24 Salarpuria Area, Hosur Main Road, Adugodi Bangalore – 560 030. Pan : Aaacc9862F. (Appellant) (Respondent) Appellant By : Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj Jain, Sri.Lalit Attal & Sri.Karon Dhanuka, Advoicates Respondent By : Sri.Harishchandra Naik, Cit-Dr Date Of Pronouncement : 18.08.2022 Date Of Hearing : 27.07.2022 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 03.01.2017 Passed U/S 143(3) R.W.S. 144C(13) Of The I.T.Act. The Relevant Assessment Year Is 2012-2013. 2. The Brief Facts Of The Case Are As Follows: The Assessee Is A Company Engaged In Import Of Computer Peripherals From Its Associated Enterprises (Aes) For Sale In India & Also Rendered Certain Support Services. The Return Of Income For Assessment Year 2012-2013 Was Filed On 29.02.2012, Admitting Total Income Of Rs.544,61,99,276. The Return Was Revised On 25.03.2014

For Appellant: Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj JainFor Respondent: Sri.Harishchandra Naik, CIT-DR
Section 143(2)Section 143(3)Section 144CSection 92BSection 92C

…of MSIL was found 'excessive' the Revenue deduced the existence of an international transaction. It then added back the excess expenditure as the transfer pricing 'adjustment'. This runs counter to legal position explained in CIT v. EKL Appliances Ltd. (2012) 345 ITR 241 (Del), which required a TPO "to examine the 'international transaction' as he actually finds the same." In other words the very existence of an international transaction cannot be a matter for inference or surmise. 65. As already noticed, the decision in Sony Ericsson has done away with the BLT as means for determining the ALP of an international…

Tekla India P.Ltd, Navi Mumbai vs. ITO 15(3)(1), Mumbai

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

ITA 211/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Aug 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Divesh ChawlaFor Respondent: Shri Milind Chavan
Section 143(3)Section 144C(13)Section 253Section 40

…section 37 of the Act. Further, accrual of benefit to assessee or the commercial expediency of any expenditure incurred by the assessee cannot be the basis for disallowing the same, as held by Hon‟ble Delhi High Court in the case of EKL Appliances Ltd. [2012] 345 ITR 241 (Del.). 14. We further find that Hon‟ble jurisdictional High Court in CIT v/s Lever India Exports Ltd. [2017] 246 Taxmann 133 (Bombay), observed as under: “7. We note that the Tribunal has recorded the fact that the respondent assessee has launched new products which involved huge advertisement expenditure. The sharing of such expenditure by th…

Ineos Styrolution India Ltd., Vadodara vs. The Addit.CIT, Delhi

In the result, appeal of the assessee is allowed

ITA 58/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad03 Aug 2022AY 2017-18
For Appellant: Shri Ajit Kumar Jain, A.R. &For Respondent: Shri Mohd. Usman, CIT-D.R
Section 143(3)Section 144C(13)Section 144C(8)Section 92CSection 92C(3)Section 92D

…section 37 of the Act. Further, accrual of benefit to assessee or the commercial expediency of any expenditure incurred by the assessee cannot be the basis for disallowing the same, as held by Hon’ble Delhi High Court in the case of EKL Appliances Ltd. [2012] 345 ITR 241 (Del.). In our considered view, the assessee has been able to demonstrate, with substantial supporting material that it availed India specific services from its Head Office / Regional Office. The Ld. Transfer Pricing Officer in view has taken a rather restrictive view in coming to the conclusion that no services were rendered for which any indepe…

Cargo Partner Logistics India, Gurgaon vs. ITO, Ward 12(2), Kolkata

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

ITA 658/KOL/2017[2012-13]Status: DisposedITAT Kolkata27 Jul 2022AY 2012-13

Bench: Sri Manish Borad & Sri Sonjoy Sarma

Section 143(2)Section 143(3)Section 144CSection 154Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA Before SRI MANISH BORAD, ACCOUNTANT MEMBER & SRI SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 658/Kol/2017 Assessment Year: 2012-13 Cargo Partner Logistics India Private Limited..........Appellant [PAN: AACCC 9129 K] Vs. ITO, Ward-12(2), Kolkata......................................Respondent Appearances by: Sh. Rahul Shah & Sh. Mukesh Agarwal, A/R, appeared on behalf of the Assessee. Sh. Tushar Dhawal Singh, CIT, D/R, appeared on behalf of the Revenue. Date of concluding the hearing : May 19th, 2022 Date of pronouncing the order : July 27th, 2022 ORDE…

M/S. Sulzer Tech India P. Ltd., Navi Mumbai vs. Addl./Jt./ Dy./ Asstt. CIT/ Income Tax Officer, Delhi

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

ITA 633/MUM/2021[2016-17]Status: DisposedITAT Mumbai25 Jul 2022AY 2016-17

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Ravi Saeana a/wFor Respondent: Shri Tejinder Pal Singh
Section 143(3)Section 144C(13)Section 92CSection 92C(1)

…section 37 of the Act. Further, accrual of benefit to assessee or the commercial expediency of any expenditure incurred by the assessee cannot be the basis for disallowing the same, as held by Hon’ble Delhi High Court in the case of EKL Appliances Ltd. [2012] 345 ITR 241 (Del.). 24. We further find that Hon’ble jurisdictional High Court in CIT v/s Lever India Exports Ltd. [2017] 246 Taxmann 133 (Bom.), observed as under: “7. We note that the Tribunal has recorded the fact that the respondent assessee has launched new products which involved huge advertisement expenditure. The sharing of such expenditure by the…

Thyssenkrupp Industiral Solutions (India) P.Ltd, Mumbai vs. DCIT RG 15(3)(1), Mumbai

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

ITA 1274/MUM/2016[2011-12]Status: DisposedITAT Mumbai22 Jul 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri H. Jamshedji a/wFor Respondent: Shri Chandra Vijay
Section 143(3)Section 144C(13)Section 234BSection 40

…section 37 of the Act. Further, accrual of benefit to assessee or the commercial expediency of any expenditure incurred by the assessee cannot be the basis for disallowing the same, as held by Hon’ble Delhi High Court in the case of EKL Appliances Ltd. [2012] 345 ITR 241 (Del.). 12. We further find that Hon’ble jurisdictional High Court in CIT v/s Lever India Exports Ltd. [2017] 246 Taxmann 133 (Bombay), observed as under: “7. We note that the Tribunal has recorded the fact that the respondent assessee has launched new products which involved huge advertisement expenditure. The sharing of such expenditure by th…

DCIT, Circle-12(2), New Delhi vs. Iqor India Services Pvt. Ltd., New Delhi

In the result, the appeal filed by the Revenue stands dismissed

ITA 3714/DEL/2018[2013-14]Status: DisposedITAT Delhi22 Jun 2022AY 2013-14
For Appellant: Shri Rishabh Malhotra, ARFor Respondent: Shri Mrinal Kumar Das, Senior DR
Section 92Section 92BSection 92CSection 92F

…comparables, any further adjustment only on the basis of the outstanding receivables would have distorted the picture and re- characterised the transaction. This was clearly impermissible in law as explained by this Court in CIT v, EKL Appliances Ltd. (2012) 345 ITR 241 (Delhi). 12. Consequently, the Court is unable to find any error in the impugned order of the ITAT giving rise to any substantial question of law for determination. The appeal is, accordingly, dismissed." 5.12 The material facts of the case are the same in the instant year also. In accordance with the principle of consistency and respectfully fol…

M/S. Himalaya Wellness Company (Formerly Known As the Himalaya Drug Company), Bengaluru vs. The Deputy Commissioner of Income Tax, Circle- 6(1)(1), Bengaluru

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

ITA 259/BANG/2022[2017-18]Status: DisposedITAT Bangalore14 Jun 2022AY 2017-18

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.259/Bang/2022 : Asst.Year 2017-2018 M/S.Himalaya Wellness Company The Deputy Commissioner Of (Formerly Known As The Himalaya Income-Tax, Circle 6(1)(1) V. Bengaluru. Drug Company), Makali, Tumkur Road Bengaluru – 562 162. Pan : Aadft3025B. (Appellant) (Respondent)

For Appellant: Sri.Padamchand Kincha, CAFor Respondent: Sri.Sumer Singh Meena, CIT -DR
Section 143(1)Section 143(2)Section 143(3)Section 144C(5)Section 2(11)Section 92C

…of MSIL was found 'excessive' the Revenue deduced the existence of an international transaction. It then added back the excess expenditure as the transfer pricing 'adjustment'. This runs counter to legal position explained in CIT v. EKL Appliances Ltd. [2012] 345 ITR 241 (Del), which required a TPO "to examine the 'international transaction' as he actually finds the same."In other words the very existence of an International transaction cannot be a matter for inference or surmise." At para 76 of its order, the Hon'ble High Court has held as under :- "76. As explained by the Supreme Court in CIT v. B.C. Srinivasa…

Zeta Interactive Systems (India) Private Limited, Hyderabad vs. Income Tax Officer, Ward-17(4), Hyderabad

Appeal of the assessee is partly allowed

ITA 1812/HYD/2017[2011-13]Status: DisposedITAT Hyderabad07 Jun 2022AY 2011-13

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12

For Appellant: Sri P.V.S.S. PrasadFor Respondent: Sri T. Sunil Goutam, DR

…any further adjustment only on the basis of the outstanding receivables would have distorted the picture and re-characterised the transaction. This was clearly impermissible in law as explained by this court in CIT v. EKL Appliances Ltd.[2012] 209 Taxman 200/345 ITR 241/345 ITR 241(Delhi). 36. In another decision Mckinsey Knowledge Centre India (P.) Ltd. [2018] 96 taxmann.com 237 (Delhi), HIGH COURT OF DELHI held as under :- “ 33. It was similarly held in BT e-Serv (India) (P.) Ltd. v. ITO [2017] 87 taxmann.com 251 (Delhi - Trib.) as follows: "22…The argument that assessee is an interest free entity and does n…

United Breweries Ltd, Bengaluru vs. Deputy Commissioner of Income Tax, Circle-7(1)(1), Bengaluru

ITA 2569/BANG/2017[2013-14]Status: DisposedITAT Bangalore01 Jun 2022AY 2013-14

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 92Section 92B(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESEIDENT AND SHRI PADMAVATHY S, ACCOUNTANT MEMBER IT(TP)A No.2569/Bang/2017 Assessment years : 2013-14 United Breweries Ltd., Vs. The Deputy Commissioner UB Tower, UB City, of Income Tax, 24, Vittal Mallya Road, Circle 7(1)(1), Bangalore – 560 001. Bangalore. PAN: AAACU 6053C APPELLANT RESPONDENT Appellant by : Shri K.R. Vasudevan, Advocate Respondent by : Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru. Date of hearing : 24.05.2022 Date of Pronouncement : 01.06.2022 O R D E R Per Padmavathy S., Accountant Member…

Bostik India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(2), Bangalore

In the result, the appeals filed by the assessee are allowed for statistical purposes

ITA 626/BANG/2017[2012-13]Status: DisposedITAT Bangalore10 May 2022AY 2012-13

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.837/Bang/2016 : Asst.Year 2011-2012 It(Tp)A No.626/Bang/2017 : Asst.Year 2012-2013 It(Tp)A No.2031/Bang/2017 : Asst.Year 2013-2014 M/S.Bostik India Private Limited The Deputy Commissioner Of No.124/4 & 124/4A, Income-Tax, Circle 1(1)(2) V. Bangalore. Kachanayakanahalli, Off: Hosur Road, Bommasandra Post, Anekal Taluk Bangalore – 560 099. Pan : Aabcb4627N. (Appellant) (Respondent) Appellant By : Sri.C.J.Brito, Ca Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 10.05.2022 Date Of Hearing : 04.05.2022 O R D E R Per George George K, Jm : These Appeals At The Instance Of The Assessee Are Directed Against Three Final Assessment Orders Passed U/S 143(3) R.W.S. 144C Of The I.T.Act. The Relevant Assessment Years Are 2011-2012, 2012-2013 & 2013-2014. Common Issues Are Involved In These Appeals, Hence, These Appeals Were Heard Together & Are Being Disposed Of By This Consolidated Order.

For Appellant: Sri.C.J.Brito, CAFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM and Ms.Padmavathy S, AM IT(TP)A No.837/Bang/2016 : Asst.Year 2011-2012 IT(TP)A No.626/Bang/2017 : Asst.Year 2012-2013 IT(TP)A No.2031/Bang/2017 : Asst.Year 2013-2014 M/s.Bostik India Private Limited The Deputy Commissioner of No.124/4 & 124/4A, Income-tax, Circle 1(1)(2) v. Bangalore. Kachanayakanahalli, Off: Hosur Road, Bommasandra Post, Anekal Taluk Bangalore – 560 099. PAN : AABCB4627N. (Appellant) (Respondent) Appellant by : Sri.C.J.Brito, CA Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement :…

Bostik India Pvt Ltd, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(2), Bangalore

In the result, the appeals filed by the assessee are allowed for statistical purposes

ITA 2031/BANG/2017[2013-14]Status: DisposedITAT Bangalore10 May 2022AY 2013-14

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.837/Bang/2016 : Asst.Year 2011-2012 It(Tp)A No.626/Bang/2017 : Asst.Year 2012-2013 It(Tp)A No.2031/Bang/2017 : Asst.Year 2013-2014 M/S.Bostik India Private Limited The Deputy Commissioner Of No.124/4 & 124/4A, Income-Tax, Circle 1(1)(2) V. Bangalore. Kachanayakanahalli, Off: Hosur Road, Bommasandra Post, Anekal Taluk Bangalore – 560 099. Pan : Aabcb4627N. (Appellant) (Respondent) Appellant By : Sri.C.J.Brito, Ca Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 10.05.2022 Date Of Hearing : 04.05.2022 O R D E R Per George George K, Jm : These Appeals At The Instance Of The Assessee Are Directed Against Three Final Assessment Orders Passed U/S 143(3) R.W.S. 144C Of The I.T.Act. The Relevant Assessment Years Are 2011-2012, 2012-2013 & 2013-2014. Common Issues Are Involved In These Appeals, Hence, These Appeals Were Heard Together & Are Being Disposed Of By This Consolidated Order.

For Appellant: Sri.C.J.Brito, CAFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM and Ms.Padmavathy S, AM IT(TP)A No.837/Bang/2016 : Asst.Year 2011-2012 IT(TP)A No.626/Bang/2017 : Asst.Year 2012-2013 IT(TP)A No.2031/Bang/2017 : Asst.Year 2013-2014 M/s.Bostik India Private Limited The Deputy Commissioner of No.124/4 & 124/4A, Income-tax, Circle 1(1)(2) v. Bangalore. Kachanayakanahalli, Off: Hosur Road, Bommasandra Post, Anekal Taluk Bangalore – 560 099. PAN : AABCB4627N. (Appellant) (Respondent) Appellant by : Sri.C.J.Brito, CA Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement :…

Bostik India Private Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeals filed by the assessee are allowed for statistical purposes

ITA 837/BANG/2016[2011-12]Status: DisposedITAT Bangalore10 May 2022AY 2011-12

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.837/Bang/2016 : Asst.Year 2011-2012 It(Tp)A No.626/Bang/2017 : Asst.Year 2012-2013 It(Tp)A No.2031/Bang/2017 : Asst.Year 2013-2014 M/S.Bostik India Private Limited The Deputy Commissioner Of No.124/4 & 124/4A, Income-Tax, Circle 1(1)(2) V. Bangalore. Kachanayakanahalli, Off: Hosur Road, Bommasandra Post, Anekal Taluk Bangalore – 560 099. Pan : Aabcb4627N. (Appellant) (Respondent) Appellant By : Sri.C.J.Brito, Ca Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 10.05.2022 Date Of Hearing : 04.05.2022 O R D E R Per George George K, Jm : These Appeals At The Instance Of The Assessee Are Directed Against Three Final Assessment Orders Passed U/S 143(3) R.W.S. 144C Of The I.T.Act. The Relevant Assessment Years Are 2011-2012, 2012-2013 & 2013-2014. Common Issues Are Involved In These Appeals, Hence, These Appeals Were Heard Together & Are Being Disposed Of By This Consolidated Order.

For Appellant: Sri.C.J.Brito, CAFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM and Ms.Padmavathy S, AM IT(TP)A No.837/Bang/2016 : Asst.Year 2011-2012 IT(TP)A No.626/Bang/2017 : Asst.Year 2012-2013 IT(TP)A No.2031/Bang/2017 : Asst.Year 2013-2014 M/s.Bostik India Private Limited The Deputy Commissioner of No.124/4 & 124/4A, Income-tax, Circle 1(1)(2) v. Bangalore. Kachanayakanahalli, Off: Hosur Road, Bommasandra Post, Anekal Taluk Bangalore – 560 099. PAN : AABCB4627N. (Appellant) (Respondent) Appellant by : Sri.C.J.Brito, CA Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement :…

Global Logic India Ltd., New Delhi vs. DCIT, Circle- 10(1), New Delhi

In the result, the appeal of the assessee is allowed

ITA 4740/DEL/2018[2014-15]Status: DisposedITAT Delhi16 Mar 2022AY 2014-15

Bench: Dr. B. R. R. Kumarms. Astha Chandraita No. 4740/Del/2018 : Asstt. Year : 2014-15 Global Logic India Ltd., Vs Dcit, 207, Gupta Arcade, Circle-12(1), Lsc Circle-10(1), Plot No. 5, Mayur Vihar, Phase-I New Delhi Extension, New Delhi-110034 (Appellant) (Respondent) Pan No. Aabci2526F Assessee By : Sh. Neeraj Kumar Jain, Adv. Revenue By : Sh. Surender Pal, Cit Dr Date Of Hearing: 02.03.2022 Date Of Pronouncement: 16.03.2022

For Appellant: Sh. Neeraj Kumar Jain, AdvFor Respondent: Sh. Surender Pal, CIT DR
Section 143(3)Section 144CSection 144C(10)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-1’, NEW DELHI Before Dr. B. R. R. Kumar, Accountant Member Ms. Astha Chandra, Judicial Member ITA No. 4740/Del/2018 : Asstt. Year : 2014-15 Global Logic India Ltd., Vs DCIT, 207, Gupta Arcade, Circle-12(1), LSC Circle-10(1), Plot No. 5, Mayur Vihar, Phase-I New Delhi Extension, New Delhi-110034 (APPELLANT) (RESPONDENT) PAN No. AABCI2526F Assessee by : Sh. Neeraj Kumar Jain, Adv. Revenue by : Sh. Surender Pal, CIT DR Date of Hearing: 02.03.2022 Date of Pronouncement: 16.03.2022 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been file…

Reliance Industries Ltd, Mumbai vs. Deputy Commissioner of Income Tax Large Taxpayer Unit-2, Mumbai

In the result, the ITA No

ITA 2876/MUM/2019[2015-16]Status: DisposedITAT Mumbai08 Mar 2022AY 2015-16
Section 143(3)Section 28

…ning interest, which again would be yielding tax revenue to this country? Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is correct in ignoring the decision of Hon'ble Delhi High court in the case of CIT v/s EKL Appliances Ltd, (345 ITR 241) wherein it has been held that recharacterisation of transaction is permissible in exceptional circumstances as that of assessee as under?Two exceptions have been allowed to the aforesaid principle and they are – (i) where the economic substance of a transaction differs from its form; and ITA Nos.1645 & 2876/Mum/2019 ITA Nos.2344 & 3945/Mum/2019…