CIT v. Thyssen Krupp Industries Pvt. Ltd.

Mtu India Private Limited, Pune vs. Deputy Commissioner of Income-Tax, Circle - 14, Pune

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviिनधा"रण वष" / Assessment Year : 2015-16 Mtu India Private Limited, Vs. Dcit, 159/1, Tathawade, Circle-14, Pune Pune-Mumbai Highway, Pune – 411033 Pan : Aabcd2233N Appellant Respondent

…been 27 MTU India Private Limited dismissed by the Hon’ble Supreme Court in CIT Vs. Phoenix Mecano (India) Pvt. Ltd. (2018) 402 ITR 32 (St.). Similar view has been taken by the Hon’ble Bombay High Court in CIT Vs. Thyssen Krupp Industries Pvt. Ltd. (2016) 381 ITR 413 (Bom.) and CIT Vs. Tara Jewels Exports (P). Ltd. (2010) 381 ITR 404 (Bom.). We, therefore, direct to restrict the transfer pricing addition in the Trading segment only in respect of transactions with AEs. 30. To sum up, we set-aside the transfer pricing addition of Rs.8.29 crore made in the international transaction of Trading of spare part…

M/S. Vishay Components India Private Ltd., Pune vs. Assistant Commissioner of Income-Tax, Pune

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviिनधा"रण वष" / Assessment Year : 2010-11 M/S. Vishay Components India Vs. Acit Private Limited, Circle-13, Pune Loni-Kalbhor, Near Pune (C. Rly.), Pune – 412 201 Pan : Aaacb9652L Appellant Respondent

…o (India) Pvt. Ltd. has since been dismissed by the Hon’ble Supreme Court in CIT Vs. Phoenix Mecano (India) Pvt. Ltd. (2018) 402 ITR 32 (St.). Similar view has been taken by the Hon’ble Bombay High Court in CIT Vs. Thyssen Krupp Industries Pvt. Ltd. (2016) 381 ITR 413 (Bom.) and CIT Vs. Tara Jewels Exports (P). Ltd. (2010) 381 ITR 404 (Bom.). We, therefore, direct to restrict the transfer pricing addition only in respect of transactions with Associated Enterprises. 6. Still another issue raised by the assessee in this segment is against non-granting of working capital adjustment. In this regard, it is obs…

Rosemount Tank Gauging India Pvt.Ltd, Pune vs. Deputy Commissioner of Income Tax, Pune

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.422/Pun/2017 िनधा"रण वष" / Assessment Year : 2012-13 Rosemount Tank Gauging India Pvt. Vs. Dcit, Circle-5 Ltd., Pune 5Th Floor, Plot No.23, Rajiv Gandhi Infotech Park, Phase-Ii, Hinjewadi, Pune – 411 057 Pan : Aadcs9297H Appellant Respondent

…ted only the international transactions. We find that this issue is no more res integra in view of catena of judgments delivered by the various High Courts. The Hon'ble jurisdictional High Court in CIT vs. Thyssen Krupp Industries India Private Ltd. (2016) 381 ITR 413 (Bom) has held that the transfer pricing addition can be made only with reference to the international transactions and not the transactions with the non-associated enterprises. Similar view has been espoused by the Hon’ble Delhi High Court in CIT VS. Keihin 12 Rosemount Tank Gauging India Pvt. Ltd., Panalfa Ltd. (2016) 381 ITR 407 (Del). Res…

Bekaert Industries Private Ltd., Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.571/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Bekaert Industries Private Vs. Dcit, Circle-1(1), Limited, Pune Plot No.127, Sr.No.232/1+2, Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.541/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Dcit, Circle-1(1), Vs. Bekaert Industries Private Pune Limited, Plot No.B-1, Midc, Ranjangaon, Tal Shirur, Dist. Pune 419210 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.976/Pun/2016 िनधा"रण वष" / Assessment Year : 2011-12 Bekaert Industries Private Limited, Vs. Dcit, Circle-1(1), Plot No.127, Sr.No.232/1+2, Pune Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent Shri T. Vijaya Bhaskar Reddy

…tion in proper perspective while calculating transfer pricing addition in the final assessment order. The Tribunal in its order for the assessment year 2009-10 has also examined this issue on page 23 para 23. Following the judgment of Hon'ble Bombay (2016) 381 ITR 413 (Bom), the Tribunal has directed that the transfer pricing addition should be restricted to the transactions with AEs and not the unrelated or non-AEs. Following the same view, we allow this additional ground of appeal and direct the AO/TPO to restrict the transfer pricing addition only qua the international transactions and not the entity leve…

Bekaert Industries Private Ltd., Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.571/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Bekaert Industries Private Vs. Dcit, Circle-1(1), Limited, Pune Plot No.127, Sr.No.232/1+2, Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.541/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Dcit, Circle-1(1), Vs. Bekaert Industries Private Pune Limited, Plot No.B-1, Midc, Ranjangaon, Tal Shirur, Dist. Pune 419210 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.976/Pun/2016 िनधा"रण वष" / Assessment Year : 2011-12 Bekaert Industries Private Limited, Vs. Dcit, Circle-1(1), Plot No.127, Sr.No.232/1+2, Pune Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent Shri T. Vijaya Bhaskar Reddy

…tion in proper perspective while calculating transfer pricing addition in the final assessment order. The Tribunal in its order for the assessment year 2009-10 has also examined this issue on page 23 para 23. Following the judgment of Hon'ble Bombay (2016) 381 ITR 413 (Bom), the Tribunal has directed that the transfer pricing addition should be restricted to the transactions with AEs and not the unrelated or non-AEs. Following the same view, we allow this additional ground of appeal and direct the AO/TPO to restrict the transfer pricing addition only qua the international transactions and not the entity leve…

Deputy Commissioner of Income-Tax, Pune vs. Bekaert Industries Pvt. Ltd., Pune

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.571/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Bekaert Industries Private Vs. Dcit, Circle-1(1), Limited, Pune Plot No.127, Sr.No.232/1+2, Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.541/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Dcit, Circle-1(1), Vs. Bekaert Industries Private Pune Limited, Plot No.B-1, Midc, Ranjangaon, Tal Shirur, Dist. Pune 419210 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.976/Pun/2016 िनधा"रण वष" / Assessment Year : 2011-12 Bekaert Industries Private Limited, Vs. Dcit, Circle-1(1), Plot No.127, Sr.No.232/1+2, Pune Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent Shri T. Vijaya Bhaskar Reddy

…tion in proper perspective while calculating transfer pricing addition in the final assessment order. The Tribunal in its order for the assessment year 2009-10 has also examined this issue on page 23 para 23. Following the judgment of Hon'ble Bombay (2016) 381 ITR 413 (Bom), the Tribunal has directed that the transfer pricing addition should be restricted to the transactions with AEs and not the unrelated or non-AEs. Following the same view, we allow this additional ground of appeal and direct the AO/TPO to restrict the transfer pricing addition only qua the international transactions and not the entity leve…

Assistant Commissioner of Income-Tax, Circle - 9, Pune vs. Gestamp Pune Automotive India Private Limited, Pune

In the result, the appeal is dismissed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita No.2717/Pun/2017 िनधा"रण वष" / Assessment Year : 2011-12

…no (India) Pvt. Ltd. has since been dismissed by the Hon’ble Supreme Court in CIT Vs. Phoenix Mecano (India) Pvt. Ltd. (2018) 402 ITR 32 (st.). Similar view has been taken by the Hon’ble Bombay High Court in CIT Vs. Thyssen Krupp Industries Pvt. Ltd. (2016) 381 ITR 413 (Bom.) and CIT Vs. Tara Jewels Exports (P). Ltd. (2010) 381 ITR 404 (Bom.). Since the view canvassed by the ld. CIT(A) accords with that of the Hon’ble jurisdictional High Court in the aforenoted cases, we, therefore, uphold the same. 5. In the result, the appeal is dismissed. Order pronounced in the Open Court on 17th October, 2019. (S.S. V…

Yazaki India P Ltd., (Formerly Known As Yazaki (I) Ltd., Pune vs. Assistant Commissioner of Income-Tax, Pune

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.621/Pun/2014 िनधा"रण वष" / Assessment Year : 2009-10

…to be done only in respect of the transactions entered into between the assessee with its AEs and not with the non-AEs. Similar view has been reiterated again by the Hon’ble jurisdictional High Court in CIT Vs. Thyssen Krupp Industries India Pvt. Ltd. (2016) 381 ITR 413 (Bom.). As the view adopted by the AO does not accord with that of the Hon’ble jurisdictional High Court, we are disinclined to accept the same. 26. We, therefore, set aside the impugned order to this extent and direct that the transfer pricing addition should be restricted to the international transactions and not the non-international trans…

Magna Steyr India Pvt. Ltd., Pune vs. Assistant Commissioner of Income-Tax

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

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

…of appeal No.6 raised by the assessee is against transfer pricing adjustment made on entity level. 29. The plea of assessee before us is that the issue has been settled by the Hon’ble Bombay High Court in CIT Vs. Thyssen Krupp Industries India P. Ltd. (2016) 381 ITR 413 (Bom), wherein the transfer pricing adjustment, if any, has to be made vis-à-vis associated enterprises transactions and not on entity level. The learned Authorized Representative for the assessee referred to the order of TPO and pointed out that transactions with associated enterprises were to the tune of ₹ 16.04 crores, whereas the Assessing Of…

Deputy Commissioner of Income-Tax vs. Magna Steyr India P. Ltd., Pune

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

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

…of appeal No.6 raised by the assessee is against transfer pricing adjustment made on entity level. 29. The plea of assessee before us is that the issue has been settled by the Hon’ble Bombay High Court in CIT Vs. Thyssen Krupp Industries India P. Ltd. (2016) 381 ITR 413 (Bom), wherein the transfer pricing adjustment, if any, has to be made vis-à-vis associated enterprises transactions and not on entity level. The learned Authorized Representative for the assessee referred to the order of TPO and pointed out that transactions with associated enterprises were to the tune of ₹ 16.04 crores, whereas the Assessing Of…