CIT v. Firestone International (P.) Ltd.

378 ITR 558High Court2015#4912 most cited

What is CIT v. Firestone International (P.) Ltd. authority for?

Benchmarking of transactions for transfer pricing purposes should be done at a segmental level, considering combined book results of relevant units, rather than on a transaction-wise or entity-level basis, especially when units have merged.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2022.

Also referred to as

CIT v. Firestone International Pvt. Ltd. · 378 ITR 558 · Bom. · Benchmarking · Transfer Pricing · Segmental Level · Combined Book Results · Transaction Wise · Entity Level · Section 92B

Also reported as

60 Taxmann.com 235

Judgments citing CIT v. Firestone International (P.) Ltd.

Sodexo Food Solutions India P .Ltd, Mumbai vs. Addl CIT RG 8(3), Mumbai

Appeal stand partly allowed for statistical purposes

ITA 5707/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 Oct 2018AY 2011-12

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.5781/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Sodexo Food Solutions India Income Tax-13(2)(1) Private Limited बनाम/ 1Stfloor, Gemstar Commercial Complex Room No.146, 1St Floor Vs. Ramchandra Lane Extension Aaykar Bhavan, M.K.Road Kanchpada, Malad(W) Mumbai -400 020 Mumbai-400 064 "थायी लेखा सं./Pan : Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.5707/Mum/2016 (िनधा"रणवष" / Assessment Year: 2011-12) Sodexo Food Solutions India Assistant Commissioner Of Private Limited Income Tax-13(2)(1) बनाम/ 1Stfloor, Gemstar Commercial Complex Room No.146, 1St Floor Ramchandra Lane Extension Vs. Aaykar Bhavan, M.K.Road Kanchpada, Malad(W) Mumbai -400 020 Mumbai-400 064 "थायी लेखा सं./Pan : Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Nimesh Vora, Ld. ARFor Respondent: Rignesh Das, Ld. JCIT-DR
Section 143(3)Section 2(24)(x)Section 36(1)(va)Section 37(1)

…ecord. Some of them could be tabulated as under:- Assessment Year-2011-12 No. Case Law Judicial Authority Citation 1. CIT Vs Tata Jewels Exports Private Hon’ble Bombay High Court 381 ITR 404 Ltd 2. CIT Vs Firestone International Pvt. Hon’ble Bombay High Court 378 ITR 558 Ltd. 3. Thyssen Krupp Industries India Pvt. Mumbai Tribunal 55 SOT 497 as Ltd. Vs ACIT approved by Bombay High Court in revenue’s appeal 381 ITR 413] 4. Hindustan Unilever Ltd Vs ACIT Mumbai Tribunal 22 ITR(T) 737 as approved by Bombay High Court in revenue’s appeal 394 ITR 73] Respectfully following the same, we find no infirmity in the stand o…

M/S. Pricewaterhousecoopers Private Limited, Kolkata vs. ACIT, Cir-2(2), Kolkata

ITA 483/KOL/2017[2012-13]Status: DisposedITAT Kolkata12 Sept 2018AY 2012-13

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2012-13 M/S Pricewaterhousecoopers V/S. Acit, Circle-2(2), Pvt.Ltd., Block-Ep, Plot-Y-14, Aayakar Bhavan, P-7, Salt Lake City, Sector-V, Chowringhee Square, Kokata-91 Kokata-69 [Pan No.Aabcp 9181 H] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Kanchan Kaushal, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 14-06-2018 सुनवाई क" तार"ख/Date Of Hearing 12-09-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Asstt. Commissioner Of Income Tax, Circle-2(2), Kolkata’S Assessment Order Dated 30.01.2017, Involving Proceedings Section 144C R.W. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. 2. The Assessee Appellant’S First Substantive Ground Raised In The Instant Appeal Challenge Correctness Of Transfer Price Adjustment Amounting To ₹345,51,562/- In Course Of Assessment As Pertaining To Its International Transactions With Its Overseas Associate Enterprise (Ae). This Assessee Is A Company Providing Consultancy Including Tax & Regulatory Services. It Filed Its Return On 30.11.2012 Stating Total Income Of ₹51,62,16,310/-. This Followed Its Revised Return Dated 31.03.2014 Reducing Its Taxable Income To ₹49,87,12,700/-. The Assessing Officer Took Up Scrutiny. He Came Across

Section 144CSection 92C

…आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “C” KOLKATA Before Shri S.S.Godara, Judicial Member and Shri, M. Balaganesh, Accountant Member Assessment Year :2012-13 M/s PricewaterhouseCoopers V/s. ACIT, Circle-2(2), Pvt.Ltd., Block-EP, Plot-Y-14, Aayakar Bhavan, P-7, Salt Lake City, Sector-V, Chowringhee Square, Kokata-91 Kokata-69 [PAN No.AABCP 9181 H] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Kanchan Kaushal, AR अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, CIT-DR ""यथ" क" ओर से/By Respondent 14-06-2018 सुनवाई क" तार"ख/Date of Hearing 12-09-2018 घोषणा क" ता…

Mitsuba Sical India Pvt. Limited, Gummidipoondi vs. DCIT, Chennai

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

ITA 400/CHNY/2017[2012-13]Status: DisposedITAT Chennai03 May 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. No.400/Chny/2017 "नधा"रण वष" /Assessment Year : 2012-2013. Mitsuba Sical India Private Vs. The Deputy Commissioner Of Limited, Income Tax, (Previously Mitsuba Sical (India Corporate Circle 4(1) Ltd) Chennai. No.8,Sipcot Industrial Complex, Gummidipoondi 601 201. [Pan Aaccm 4446M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Vijayaraghavan and ShriFor Respondent: Shri. Srinivasa Rao, IRS, CIT
Section 144C

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH : CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" । [BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. No.400/CHNY/2017 "नधा"रण वष" /Assessment year : 2012-2013. Mitsuba Sical India Private Vs. The Deputy Commissioner of Limited, Income Tax, (Previously Mitsuba Sical (India Corporate Circle 4(1) Ltd) Chennai. No.8,SIPCOT Industrial Complex, Gummidipoondi 601 201. [PAN AACCM 4446M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…

Aurostar Jewellery India P. Ltd, Mumbai vs. DCIT 3(1), Mumbai

In the result, assessee’s appeal is allowed to the extent indicated above

ITA 7193/MUM/2010[2006-07]Status: DisposedITAT Mumbai17 Aug 2016AY 2006-07

Bench: Shri Saktijit Dey & Shri Ramit Kochar: (A.Y : 2006-07) Aurostar Jewellery India Pvt. Ltd., Vs. Dcit Circle-3(1), Mumbai 310-312, Prasad Chambers, (Respondent) 3Rd Floor, Opera House, Mumbai 400 004. Pan : Aaaca7307D (Appellant)

For Appellant: Shri Yogesh TharFor Respondent: Shri N.K. Chand (CIT-DR)
Section 143(3)Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER : (A.Y : 2006-07) Aurostar Jewellery India Pvt. Ltd., Vs. DCIT Circle-3(1), Mumbai 310-312, Prasad Chambers, (Respondent) 3rd floor, Opera House, Mumbai 400 004. PAN : AAACA7307D (Appellant) Assessee by : Shri Yogesh Thar Revenue by : Shri N.K. Chand (CIT-DR) Date of Hearing : 19/07/2016 Date of Pronouncement : 17/08/2016 O R D E R PER SAKTIJIT DEY, JM : The instant appeal of the assessee is directed against the assessment order dated 20.9.2010 passed u/s 143(3) r.w…