Coca Cola Inc. v. ACIT

DCIT-13(1)(1), MUMBAI vs. M/S ORACLE FINANCIAL SERVICES SOFTWARE LTD., MUMBAI

Bench: Smt. Beena Pillai () & Shri Girish Agrawal, () Ι.Τ.Α. No. 3432/Mum/2019

…case and in law, the Ld. CIT(A) is correct in relying on RBI permission to make capital contribution, as it cannot be stamp on ALP determination and erred in not adhering to the decision of Hon'ble Punjab & Haryana High Court in Coca Cola India Inc. v. ACIT (309 ITR 194) wherein it has been held that the Income tax Authorities are not bound by the RBI for determining ALP? 5.5 Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is correct in relying on the decisions in the cases of S.A. Builders Ltd. CIT (2007) 158 Тахтап 82 (SC) and Sony India (P) Ltd. vs DCIT (2008-TIOL- 439-ITAT-DEL)…

ORACLE FINANCIAL SERVICES SOFTWARE LIMITED,MUMBAI vs. ACIT-13(1)(1), MUMBAI

Bench: Smt. Beena Pillai () & Shri Girish Agrawal, () Ι.Τ.Α. No. 3432/Mum/2019

…case and in law, the Ld. CIT(A) is correct in relying on RBI permission to make capital contribution, as it cannot be stamp on ALP determination and erred in not adhering to the decision of Hon'ble Punjab & Haryana High Court in Coca Cola India Inc. v. ACIT (309 ITR 194) wherein it has been held that the Income tax Authorities are not bound by the RBI for determining ALP? 5.5 Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is correct in relying on the decisions in the cases of S.A. Builders Ltd. CIT (2007) 158 Тахтап 82 (SC) and Sony India (P) Ltd. vs DCIT (2008-TIOL- 439-ITAT-DEL)…

DCIT(CC)-8(3), MUMBAI vs. JSW ENERGY LIMITED, MUMBAI

In the result the appeals filed by the revenue for assessment years under consideration stands partly allowed and cross appeals filed by the assesse stands dismissed

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) AND SHRI OMKARESHWAR CHIDARA (ACCOUNTANT MEMBER) I.T.A. No. 2364/Mum/2025 Assessment Year: 2013-14 I.T.A. No. 2365/Mum/2025 Assessment Year: 2014-15 I.T.A. No. 2366/Mum/2025 Assessment Year: 2015-16 I.T.A. No. 2367/Mum/2025 Assessment Year: 2017-18 I.T.A. No. 2767/Mum/2025 Assessment Year: 2018-19 DCIT(CC)-8(3) Vs. JSW Energy Limited 2nd Floor, JSW Centre Bandra Kurla Complex Bandra East, SO Mumbai - 400051 [PAN: AAACJ8109N] (Appellant) (Respondent) C.O. No. 112/Mum/2025 Assessment Year: 2013-14 C.O. No. 111/Mum/202…

JSW ENERGY LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE 8(3), MUMBAI, MUMBAI

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

…ke\ninto account the transfer pricing provisions to determine the\nappropriate rates which could be considered as Arm' Length\nPrice for interest payment. Drawing analogy from the decision\nrendered in Coca-Cola India Inc. v. Asstt. CIT [2009] 177\nТахтап 103/309 ITR 194 (Punj & Har.) that the royalty rates\npermitted by RBI would not represent ALP of any international\ntransactions, Ld. TPO opined that determination of ALP was to\nbe examined from the point of view of Transfer Pricing\nProvisions under the Income Tax Act.\n\n2.9.5 Proceeding further, finding defects in the assessee's\nmethodology to benchmark th…

JSW ENERGY (BARMER) LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 8(3), MUMBAI, MUMBAI

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

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

…ent. Drawing analogy from the decision Price for interest payment. Drawing analogy from the decision Price for interest payment. Drawing analogy from the decision rendered in Coca rendered in Coca-Cola India Inc. v. Asstt. CIT [2009] 177 [2009] 177 Taxman 103/309 ITR 194 (Punj & Har.) Taxman 103/309 ITR 194 (Punj & Har.) that the royalty rates that the royalty rates permitted by RBI would not represen permitted by RBI would not represent ALP of any international t ALP of any international transactions, Ld. TPO opined that determination of ALP was to transactions, Ld. TPO opined that determination of ALP was to tr…

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

…ompliance to the said acts, it does not automatically determine the arm's length nature of transactions as was clearly held by the Hon'ble Punjab and Haryana High Court in the case of Coca Cola India Inc v. Assistant Commissioner of Income-tax, Gurgaon [2009] 309 ITR 194, [2009] 221 CTR 225. [2009] 177 Taxman 103 (Punjab & Haryana). This was subsequently reiterated by the Hon'ble ITAT Delhi in Perot Systems TSI (India) Ltd. v Deputy Commissioner of Income-tax [2010] 5 Page No. 23 ITA NO. 752 & 2541/MUM/2022 (A.Y. 2017-18 & 2018-19) Thomas Cook (India) Limited ITR (T) 106, [2010] 37 SOT 358, [2010] 130 TTJ 685 (D…

DCIT CIRCLE- 2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD, MUMBAI

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

…umstances of the case and in law, the Ld. CIT(A) is justified in following the ITAT decision in assessee's own case for A.Y 2010-11 & 2012-13 which in turn relies on RBI approval ignoring the decision of Hon'ble Punjab &, Haryana High Court in Coco cola case (309 ITR 194) wherein it has been held that the Income tax Authorities are not bound by the RBI for determining ALP? 3.6 Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) is correct in following the ITAT decision in assessee's own case for A.Y 2010- 11 & 2012-13 in stating that the shareholder deposit is not the internation…

ACIT, CIRCLE - 2(1)(1) , MUMBAI vs. THE BOMBAY DYEING & MFG. CO. LTD. , MUMBAI

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

…umstances of the case and in law, the Ld. CIT(A) is justified in following the ITAT decision in assessee's own case for A.Y 2010-11 & 2012-13 which in turn relies on RBI approval ignoring the decision of Hon'ble Punjab &, Haryana High Court in Coco cola case (309 ITR 194) wherein it has been held that the Income tax Authorities are not bound by the RBI for determining ALP? 3.6 Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) is correct in following the ITAT decision in assessee's own case for A.Y 2010- 11 & 2012-13 in stating that the shareholder deposit is not the internation…

ACIT, CIRCLE - 2(1)(1) , MUMBAI vs. THE BOMBAY DYEING & MFG. CO. LTD. , MUMBAI

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

…umstances of the case and in law, the Ld. CIT(A) is justified in following the ITAT decision in assessee's own case for A.Y 2010-11 & 2012-13 which in turn relies on RBI approval ignoring the decision of Hon'ble Punjab &, Haryana High Court in Coco cola case (309 ITR 194) wherein it has been held that the Income tax Authorities are not bound by the RBI for determining ALP? 3.6 Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) is correct in following the ITAT decision in assessee's own case for A.Y 2010- 11 & 2012-13 in stating that the shareholder deposit is not the internation…

JSK INDUSTRIES PRIVATE LIMITED ,MUMBAI vs. DCIT CC-8(1), MUMBAI, MUMBAI

Bench: Shri Rajesh Kumar & Shri Amarjit Singh

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA Nos.5891, 5892, 5893, 5894, 5895, 5896 & 5897/M/2019 Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 M/s. JSK Industries Pvt. Dy. CIT Ltd., Central Circle-8(1), 9 A.K. Naik Marg, Aayakar Bhavan, Vs. Near New Empire M.K. Marg, Cinema, New Marine Lines, CST, Mumbai 400001 Mumbai - 400020 PAN: AABCJ 5937F (Appellant) (Respondent) ITA Nos.6311, 6312, 6313, 6314, 6315 & 6316/M/2019 Assessment Years: 2011-12, 2012-13, 2013-14, 2014-1…

SIKKIM FERRO ALLOYS LTD,MUMBAI vs. DCIT CEN CIR 6, MUMBAI

In the result, all these appeals are allowed for statistical purpose

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” Bench, Mumbai Before Shri Shamim Yahya (AM) & Shri Amarjit Singh (JM) ITA Nos.3968 & 3969/Mum/2016 (Assessment Years: 2007-08 & 2011-12) DCIT,CC-1(4) Sikkim Ferro Alloys Limited Room No.902, 9th Floor 2nd Floor, Apsara Cinema Bldg Old CGO Building, M.K.Road Dr.D.B.Marg, Grant Road(E) Vs. Churchgate, Mumbai-400 020 Mumbai-400 007 PAN/GIR No. AAGCS8115B : (Revenue) (Assessee) & ITA Nos.3245&3246/Mum/2016 and ITA Nos.2062&2063/Mum/2018 (Assessment Years: 2007-08,2010-11 & 2011-12) Sikkim Ferro Alloys Limited DCIT,CC-1(4) 2nd Floor, Apsara Cinema Bldg Room No.902, 9th Floor…

DCIT CEN CIR 1(4), MUMBAI vs. SIKKIM FERRO ALLOYS LTD, MUMBAI

In the result, all these appeals are allowed for statistical purpose

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” Bench, Mumbai Before Shri Shamim Yahya (AM) & Shri Amarjit Singh (JM) ITA Nos.3968 & 3969/Mum/2016 (Assessment Years: 2007-08 & 2011-12) DCIT,CC-1(4) Sikkim Ferro Alloys Limited Room No.902, 9th Floor 2nd Floor, Apsara Cinema Bldg Old CGO Building, M.K.Road Dr.D.B.Marg, Grant Road(E) Vs. Churchgate, Mumbai-400 020 Mumbai-400 007 PAN/GIR No. AAGCS8115B : (Revenue) (Assessee) & ITA Nos.3245&3246/Mum/2016 and ITA Nos.2062&2063/Mum/2018 (Assessment Years: 2007-08,2010-11 & 2011-12) Sikkim Ferro Alloys Limited DCIT,CC-1(4) 2nd Floor, Apsara Cinema Bldg Room No.902, 9th Floor…

SIKKIM FERRO ALLOYS LTD,MUMBAI vs. DCIT CEN CIR 6 (OLD), MUMBAI

In the result, all these appeals are allowed for statistical purpose

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” Bench, Mumbai Before Shri Shamim Yahya (AM) & Shri Amarjit Singh (JM) ITA Nos.3968 & 3969/Mum/2016 (Assessment Years: 2007-08 & 2011-12) DCIT,CC-1(4) Sikkim Ferro Alloys Limited Room No.902, 9th Floor 2nd Floor, Apsara Cinema Bldg Old CGO Building, M.K.Road Dr.D.B.Marg, Grant Road(E) Vs. Churchgate, Mumbai-400 020 Mumbai-400 007 PAN/GIR No. AAGCS8115B : (Revenue) (Assessee) & ITA Nos.3245&3246/Mum/2016 and ITA Nos.2062&2063/Mum/2018 (Assessment Years: 2007-08,2010-11 & 2011-12) Sikkim Ferro Alloys Limited DCIT,CC-1(4) 2nd Floor, Apsara Cinema Bldg Room No.902, 9th Floor…

DOW AGROSCIENCES INDIA P.LTD,MUMBAI vs. ACIT 3(1)(1), MUMBAI

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri S. Rifaur Rahman & Shri Ravish Sooddow Agrosciences India Private Asst. Commissioner Of Limited, 1St Floor, Block B, Income Tax-3(1)(1) Godrej It Park, [Income-Tax Officer-14(1)(3)] Room No. 458, Vs. Pirojshanagar, Vikhroli (W) Aayakar Bhavan, M.K. Road, Mumbai – 400 079 Mumbai – 400 020

…considering the same for benchmarking the royalty paid by the assessee to its AE using CUP method. Insofar the reliance placed by the TPO on the judgment of the Hon‟ble High Court of Punjab and Haryana in the case of Coca Cola India Inc. Vs. Asst. CIT (2009) 309 ITR 194 (P&H), we find that the said order had been relegated by the Hon‟ble Supreme Court vide its order, viz. M/s Coca Cola India Inc. Vs. Addl. CIT & Ors. [SLP (Civil) No(s). 646/2009, dated 25.10.2010] to the file of the lower authorities before whom the proceedings were pending. Also, we find, that the Hon‟ble High Court of Bombay in the case of CIT…

DOW AGROSCIENCES INDIA P.LTD,MUMBAI vs. ASST CIT RG 14(1)(2), MUMBAI

Bench: Shri Pramod Kumar & Shri Ravish Sooddow Agrosciences India Private Acit, Range-14(1)(2) Limited, 1St Floor, Block B, Room No. 460, Godrej It Park, Vs. Aayakar Bhavan, M.K. Road, Pirojshanagar, Vikhroli (W) Mumbai - 400020 Mumbai – 400079 Pan – Aaacd3812H (Appellant) (Respondent) It(Tp)A. No.203/Mum/2016 (Assessment Year: 2011-12) Dow Agrosciences India Private Dcit, Range-14(1)(1) Limited, 1St Floor, Block B, Room No. 460, Godrej It Park, Vs. Aayakar Bhavan, M.K. Road, Pirojshanagar, Vikhroli (W) Mumbai - 400020 Mumbai – 400079 Pan – Aaacd3813H (Appellant) (Respondent) It(Tp)A. No.1528/Mum/2017 (Assessment Year: 2012-13) Dow Agrosciences India Private Income Tax Officer , Range-14(1)(3) Limited, 1St Floor, Block B, Room No. 458, Godrej It Park, Vs. Aayakar Bhavan, M.K. Road, Pirojshanagar, Vikhroli (W) Mumbai - 400020 Mumbai – 400079 Pan – Aaacd3813H (Appellant) (Respondent)

…rking of the royalty payment carried out by the assessee by adopting the CUP method. In order to support his aforesaid view the TPO relied on the judgment of the Hon‟ble High Court of Punjab and Haryana in the case of Coca Cola India Inc. Vs. Asst. CIT (2009) 309 ITR 194 (P&H) and certain other orders of the Tribunal. Adverting to the alternate benchmarking that was carried out by the assessee by aggregating the international transactions and applying TNM method at enterprise level, the same too did not find favour with the TPO. Observing that each transaction was ITA Nos.1051/Mum/2015, ITA No.203/Mum/2016 & ITA…

BOMBAY RAYON HOLDINGS LIMITED,MUMBAI vs. ITO-9(2)(2), MUMBAI

In the result, appeals of the assessee are partly allowed

Bench: Shri Shamim Yahya & Shri Pawan Singh

…is no intention of shifting of profits. In this regard, he referred to the decision of ITAT Bangalore special bench in the case of Aztec software and technology 107 ITD 141. Honourable Punjab and Haryana High Court decision in the case of Coca-Cola India Inc 309 ITR 194 another case laws. The Transfer Pricing officer also held that the submission that the assessee is into loss also cannot be reason not charge interest on loans granted to it. In this regard also the Transfer Pricing officer referred to several case laws. The TPO further rejected the assessee‟s contention that the loan was provided due to business…