Everest Kanto Cylinders Ltd. v. DCIT

34 Taxmann.com 19Income Tax Appellate Tribunal2013#1783 most cited

What is Everest Kanto Cylinders Ltd. v. DCIT authority for?

A transfer pricing adjustment for corporate guarantees provided by an Indian entity to its Associated Enterprises (AEs) where no fees are charged can be estimated at approximately 0.20%. The arm's length principle applies to such intra-group corporate guarantee transactions.

64

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

Everest Kanto Cylinders Ltd. v. DCIT · section 92B · section 92CA(3) · corporate guarantee · transfer pricing adjustment · guarantee fee · arm's length price · related party transaction · Associated Enterprise · nil guarantee fee

Sections most often in play

Section 143(3)Section 144Section 144CSection 14ASection 92BSection 92CA(3)Section 10(35)Section 10B

Issues it is cited on

section 92f(ii)section 92fcorporate guaranteesection 92b(1)section 92(1)section 92c(3)r&d expendituresection 92bstrategic investmentcup methodsection 144c(3)weighted deduction

Judgments citing Everest Kanto Cylinders Ltd. v. DCIT

ACIT CENTRAL CIRCLE 8(3), MUMBAI, MUMBAI vs. ROSY BLUE (INDIA) PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is partly allowed in terms indicated above

ITA 4284/MUM/2025[2018-19]Status: DisposedITAT Mumbai29 Aug 2025AY 2018-19

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

Section 143(3)Section 144Section 144CSection 14ASection 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI ARUN KHODPIA, ACCOUNTANT MEMBER ACIT Central Circle Vs. Rosy Blue (India) 8(3), Mumbai Private Limited 1608-09, Prasad Chambers Tata Road No.2 Opera House, Girgaon S.O. Mumbai- 400 004 PAN/GIR No.AACCR2413B (Appellant) .. (Respondent) Assessee by Shri Nitesh Joshi a/w. Shri Ashwin Kashinath Revenue by Shri Aditya Rai, SR. DR Date of Hearing 13/08/2025 Date of Pronouncement 29/08/2025 आदेश / O R D E R PER AMIT SHUKLA (J.M): The present appeal has been filed by the Revenue against the order dated 28/04/2025…

DCIT,CIRCLE-5(1)(1), INCOME TAX DEPARTMENT vs. GREATSHIP(INDIA) LTD., MUMBAI

ITA 753/MUM/2024[2016-17]Status: DisposedITAT Mumbai30 Jan 2025AY 2016-17

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Jeet KamdarFor Respondent: Shri Kiran Unavekar
Section 144Section 144C(3)Section 250

…n the facts and circumstances of the case and in law, the Ld. CIT(A) erred in applying the ruling in the assessee's own case for earlier years which in turn are based on the judgements in the case of Everest Kanto Cylinders Limited (ERC) of Ld. CIT(A) Mumbai (34 Taxmann.com 19 (Mum Trib) dtd. 23.11.2012) and decision of Hon'ble Bombay High Court (ITA No. 1165 of 2013 dated 8.05.2015 for A.Y. 2007-08) without appreciating and ignoring certain important facts having bearing on the benchmarking such as: (i) The quotation obtained by the Everest Kanto Cylinders Ltd. India (EKC-India) was in respect of transaction of…

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…

ROSY BLUE (INDIA) PRIVATE LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(3), MUMBAI

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

ITA 5387/MUM/2024[2021-22]Status: DisposedITAT Mumbai27 Nov 2024AY 2021-22

Bench: Narendra Kumar Billaiya & Rahul Chaudharyassessment Year: 2021-22 Rosy Blue (India) Assistant Private Limited Commissioner Of 1608/09, Income Tax, Central Prasad Chambers, Circle 8(3) Vs. Tata Road No.2, 659, 6Th Floor, Opera House, Aayakar Bhawan, Mumbai- 400004. Maharishi Karve Marg, Pan: Aaccr2413B Mumbai- 400020. Appellant : Respondent

For Appellant: RespondentFor Respondent: Shri Asif Karmali (SR. D.R.)
Section 143(3)Section 50CSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND RAHUL CHAUDHARY, JUDICIAL MEMBER Assessment Year: 2021-22 Rosy Blue (India) Assistant Private Limited Commissioner of 1608/09, Income Tax, Central Prasad Chambers, Circle 8(3) Vs. Tata Road No.2, 659, 6th floor, Opera House, Aayakar Bhawan, Mumbai- 400004. Maharishi Karve Marg, PAN: AACCR2413B Mumbai- 400020. Appellant : Respondent Present for: Assessee by : Shri Nitesh Joshi & P. P. Bhandari Revenue by : Shri Asif Karmali (SR. D.R.) Date of Hearing : 27.11.2024 Date of Pronouncement : 27.11.2024 O R D E…

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

ITA 373/KOL/2021[2015-16]Status: DisposedITAT Kolkata17 Sept 2024AY 2015-16

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

For Appellant: Sriram Sashdari, ARFor Respondent: Rakesh Kumar Das, CIT, DR
Section 250Section 43(6)Section 50CSection 50C(2)Section 928

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOL- KATA BEFORE SHRI SONJOY SARMA, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Years: 2014-15 & Assessment Years: 2015-16 Tata Consumer Products Lim- The Deputy Commissioner of ited, (erstwhile Tata Global Bev- Income Tax, Circle-4(1), Kol- V erages Ltd.) kata - 700069 Vs 1, Bishop Lefroy Rd., Kolkata - 700020 (PAN: AABCT0602K) (Appellant) (Respondent) Present for: Appellant by : Sriram Sashdari, AR Respondent by : Rakesh Kumar Das, CIT, DR Manoj Kumar Pati, Addl. CIT Date of Hearing : 20.06.2024 Date of Pronouncement : 17.09.2024 O R D…

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

ITA 372/KOL/2021[2014-15]Status: DisposedITAT Kolkata17 Sept 2024AY 2014-15

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

For Appellant: Sriram Sashdari, ARFor Respondent: Rakesh Kumar Das, CIT, DR
Section 250Section 43(6)Section 50CSection 50C(2)Section 928

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOL- KATA BEFORE SHRI SONJOY SARMA, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Years: 2014-15 & Assessment Years: 2015-16 Tata Consumer Products Lim- The Deputy Commissioner of ited, (erstwhile Tata Global Bev- Income Tax, Circle-4(1), Kol- V erages Ltd.) kata - 700069 Vs 1, Bishop Lefroy Rd., Kolkata - 700020 (PAN: AABCT0602K) (Appellant) (Respondent) Present for: Appellant by : Sriram Sashdari, AR Respondent by : Rakesh Kumar Das, CIT, DR Manoj Kumar Pati, Addl. CIT Date of Hearing : 20.06.2024 Date of Pronouncement : 17.09.2024 O R D…

DY. COMMISSIONER OF INCOME TAX -5(2)(1), MUMBAI vs. KEC INTERNATIONAL LIMITED, MUMBAI

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

ITA 4078/MUM/2023[2015-16]Status: DisposedITAT Mumbai03 May 2024AY 2015-16

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Ble

Section 90

…ere assessee’s subsidiaries only. Therefore, considering the fact that it was a corporate guarantee for which no fees was paid by the assessee and going by the ratio of the decision of coordinate bench of the Tribunal in Everest Kanto Cylinders Ltd. Vs. DCIT [34 Taxmann.com 19] as affirmed by Hon’ble Bombay High Court on 08/05/2015 [58 Taxmann.com 254], we estimate the TP adjustments against both these transactions @0.20%. The Ld. TPO / Ld. AO is directed to recompute the same in terms of our above order. The grounds stand partly allowed.” 4. Respectfully following the findings of the Coordinate Bench (supra), w…

KEC INTERNATIONAL LIMITED,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONE OF INCOME TAX CIRCLE-5(2)(1), MUMBAI

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

ITA 4021/MUM/2023[2015-16]Status: DisposedITAT Mumbai03 May 2024AY 2015-16

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Ble

Section 90

…ere assessee’s subsidiaries only. Therefore, considering the fact that it was a corporate guarantee for which no fees was paid by the assessee and going by the ratio of the decision of coordinate bench of the Tribunal in Everest Kanto Cylinders Ltd. Vs. DCIT [34 Taxmann.com 19] as affirmed by Hon’ble Bombay High Court on 08/05/2015 [58 Taxmann.com 254], we estimate the TP adjustments against both these transactions @0.20%. The Ld. TPO / Ld. AO is directed to recompute the same in terms of our above order. The grounds stand partly allowed.” 4. Respectfully following the findings of the Coordinate Bench (supra), w…

DY.CIT -5(2)(1) , MUMBAI vs. M/S. KEC INTERNATIONAL LTD, MUMBAI

In the result appeal filed by the assessee is partly allowed and appeal of the learned assessing officer is dismissed

ITA 1883/MUM/2022[2014-15]Status: DisposedITAT Mumbai04 Dec 2023AY 2014-15

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aacck5599H Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Assessee By : Shri Vijay Mehta, Ar Revenue By : Shri Akhtar Hussain Ansari, Dr Date Of Hearing: 07.09.2023 Date Of Pronouncement : 04.12.2023

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri Akhtar Hussain Ansari, DR
Section 115JSection 143(3)Section 147(3)Section 14ASection 92BSection 92F

…ere assessee‟s subsidiaries only. Therefore, considering the fact that it was a corporate guarantee for which no fees was paid by the assessee and going by the ratio of the decision of coordinate bench of the Tribunal in Everest Kanto Cylinders Ltd. Vs. DCIT [34 Taxmann.com 19] as affirmed by Hon‟ble Bombay High Court on 08/05/2015 [58 Taxmann.com 254], we estimate the TP adjustments against both these transactions @0.20%. The Ld. TPO / Ld. AO is directed to recompute the same in terms of our above order. The grounds stand partly allowed.” 021. As all financial guarantee and performance guarantee issued by the as…

KEC INTERNATIONAL LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX , MUMBAI

In the result appeal filed by the assessee is partly allowed and appeal of the learned assessing officer is dismissed

ITA 1852/MUM/2022[2014-15]Status: DisposedITAT Mumbai04 Dec 2023AY 2014-15

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aacck5599H Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Assessee By : Shri Vijay Mehta, Ar Revenue By : Shri Akhtar Hussain Ansari, Dr Date Of Hearing: 07.09.2023 Date Of Pronouncement : 04.12.2023

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri Akhtar Hussain Ansari, DR
Section 115JSection 143(3)Section 147(3)Section 14ASection 92BSection 92F

…ere assessee‟s subsidiaries only. Therefore, considering the fact that it was a corporate guarantee for which no fees was paid by the assessee and going by the ratio of the decision of coordinate bench of the Tribunal in Everest Kanto Cylinders Ltd. Vs. DCIT [34 Taxmann.com 19] as affirmed by Hon‟ble Bombay High Court on 08/05/2015 [58 Taxmann.com 254], we estimate the TP adjustments against both these transactions @0.20%. The Ld. TPO / Ld. AO is directed to recompute the same in terms of our above order. The grounds stand partly allowed.” 021. As all financial guarantee and performance guarantee issued by the as…

TATA CHEMICALS LTD,MUMBAI vs. ADDL CIAT 2(3), MUMBAI

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

ITA 120/MUM/2013[2008-09]Status: DisposedITAT Mumbai10 Nov 2023AY 2008-09

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 144C(5)Section 14ASection 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI VIKAS AWASTHY, HON'BLE JUDICIAL MEMBER & SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA.NO. 120/MUM/2013 (A.Y: 2008-09) Tata Chemicals Ltd v. ACIT-2(3) 24, HomiMody Street Aayakar Bhavan Bombay House, Fort M.K. Road, Mumbai- 400020 Mumbai- 400001 PAN: AAACT4059M (Appellant) (Respondent) Assessee Represented by : Shri Nitesh Joshi Department Represented by : Shri Rignesh Das Date of Conclusion of Hearing : 21.09.2023 Date of Pronouncement : 10.11.2023 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the assessee against…

GREAVES COTTON LTD,MUMBAI vs. ASST CIT CIR 7(1)(1), MUMBAI

In the result appeal for assessment year 2012 –

ITA 6560/MUM/2018[2014-15]Status: DisposedITAT Mumbai25 Jul 2023AY 2014-15

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

For Appellant: Ms. Aarti Vissanji, Ms. Aastha &
Section 144CSection 35Section 92CSection 92C(3)Section 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS KAVITHA RAJAGOPAL, JM ITA No. 2069/MUM/2017 (Assessment Year 2012-13) ITA No. 6560/MUM/2018 (Assessment Year 2014-15) Graves Cotton Ltd 3rd Floor, Motilal Oswal Center, ACIT CIR 7(1)(1) Junction of Gokhale & Sayani Aayakar Bhavan, Mumbai Vs. Rd, Prabhadevi, Mumbai-400 025 (Appellant) (Respondent) PAN No. AAACG2062M Assessee by : Ms. Aarti Vissanji, Ms. Aastha & Shri Amol Patankar, ARs Revenue by : Ms. Samruddhi Dhananjay Hande, DR Date of hearing: 28.04.2023 Date of pronouncement : 25.07.2023 O R D E R PER PRASHANT…

GREAVES COTTON LTD,MUMBAI vs. ASST CIT CIR 7(1)(1), MUMBAI

In the result appeal for assessment year 2012 –

ITA 7166/MUM/2017[2013-14]Status: DisposedITAT Mumbai25 Jul 2023AY 2013-14

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

For Appellant: Ms. Aarti Vissanji, Ms. Aastha &
Section 144CSection 35Section 92CSection 92C(3)Section 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS KAVITHA RAJAGOPAL, JM ITA No. 2069/MUM/2017 (Assessment Year 2012-13) ITA No. 6560/MUM/2018 (Assessment Year 2014-15) Graves Cotton Ltd 3rd Floor, Motilal Oswal Center, ACIT CIR 7(1)(1) Junction of Gokhale & Sayani Aayakar Bhavan, Mumbai Vs. Rd, Prabhadevi, Mumbai-400 025 (Appellant) (Respondent) PAN No. AAACG2062M Assessee by : Ms. Aarti Vissanji, Ms. Aastha & Shri Amol Patankar, ARs Revenue by : Ms. Samruddhi Dhananjay Hande, DR Date of hearing: 28.04.2023 Date of pronouncement : 25.07.2023 O R D E R PER PRASHANT…

GREAVES COTTON LTD,MUMBAI vs. ASST CIT CIR 7(1)(1), MUMBAI

In the result appeal for assessment year 2012 –

ITA 2069/MUM/2017[2012-13]Status: DisposedITAT Mumbai25 Jul 2023AY 2012-13

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

For Appellant: Ms. Aarti Vissanji, Ms. Aastha &
Section 144CSection 35Section 92CSection 92C(3)Section 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS KAVITHA RAJAGOPAL, JM ITA No. 2069/MUM/2017 (Assessment Year 2012-13) ITA No. 6560/MUM/2018 (Assessment Year 2014-15) Graves Cotton Ltd 3rd Floor, Motilal Oswal Center, ACIT CIR 7(1)(1) Junction of Gokhale & Sayani Aayakar Bhavan, Mumbai Vs. Rd, Prabhadevi, Mumbai-400 025 (Appellant) (Respondent) PAN No. AAACG2062M Assessee by : Ms. Aarti Vissanji, Ms. Aastha & Shri Amol Patankar, ARs Revenue by : Ms. Samruddhi Dhananjay Hande, DR Date of hearing: 28.04.2023 Date of pronouncement : 25.07.2023 O R D E R PER PRASHANT…

GREAVES COTTON LTD,MUMBAI vs. ASST CIT 7(1)(1), MUMBAI

In the result appeal for assessment year 2012 –

ITA 1745/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Jul 2023AY 2011-12

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

For Appellant: Ms. Aarti Vissanji, Ms. Aastha &
Section 144CSection 35Section 92CSection 92C(3)Section 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS KAVITHA RAJAGOPAL, JM ITA No. 2069/MUM/2017 (Assessment Year 2012-13) ITA No. 6560/MUM/2018 (Assessment Year 2014-15) Graves Cotton Ltd 3rd Floor, Motilal Oswal Center, ACIT CIR 7(1)(1) Junction of Gokhale & Sayani Aayakar Bhavan, Mumbai Vs. Rd, Prabhadevi, Mumbai-400 025 (Appellant) (Respondent) PAN No. AAACG2062M Assessee by : Ms. Aarti Vissanji, Ms. Aastha & Shri Amol Patankar, ARs Revenue by : Ms. Samruddhi Dhananjay Hande, DR Date of hearing: 28.04.2023 Date of pronouncement : 25.07.2023 O R D E R PER PRASHANT…

DCIT -5(2) (1) , MUMBAI vs. KEC INTERNATIONAL LTD, MUMBAI

Accordingly, Ground No. 3.1 & 3.2 raised by the Assessee are dismissed

ITA 33/MUM/2022[2013-14]Status: DisposedITAT Mumbai31 May 2023AY 2013-14
For Appellant: Shri Vijay MehtaFor Respondent: Shri Pravin Shekhar
Section 143(3)Section 144C(3)

…ere assessee’s subsidiaries only. Therefore, considering the fact that it was a corporate guarantee for which no fees was paid by the assessee and going by the ratio of the decision of coordinate bench of the Tribunal in Everest Kanto Cylinders Ltd. Vs. DCIT [34 Taxmann.com 19] as affirmed by Hon’ble Bombay High Court on 08/05/2015 [58 Taxmann.com 254], we estimate the TP adjustments against both these transactions @0.20%. The Ld. TPO / Ld. AO is directed to recompute the same in terms of our above order. The grounds stand partly allowed.” The above decision of the Tribunal was followed in appeal by the 27. Reve…

VIRAJ PROFILES LTD.,MUMBAI vs. DY CIT-CC-3(2), MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 775/MUM/2021[2013-14]Status: DisposedITAT Mumbai12 May 2023AY 2013-14

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 776 & 775/MUM/2021 (A.Y. 2011-12 & 2013-14) M/s. Viraj Profiles Limited v. DCIT, Central Circle 3(2) 1st Floor, Viraj Towers Room No. 402, 4th Floor JN of Andheri Kurla Road Aayakar Bhavan W.E. Highway, Andheri (E) Mumbai - 400020 Mumbai- 400069 PAN: AABCV1740N (Appellant) (Respondent) ITA NO.2098 & 2097/MUM/2021 (A.Y: 2011-12 & 2013-14) DCIT, Central Range – 3(2) v. M/s. Viraj Profiles Limited Central Range - 3 1st Floor, Viraj Tower Room…

DY CIT CC 1(4), MUMBAI vs. M/S ULTRATECH CEMENT LTD , MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 931/MUM/2020[2015-16]Status: DisposedITAT Mumbai12 May 2023AY 2015-16

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 115Section 32Section 32ASection 80I

…is correct in relying on decisions in the cases of DCTTCC) 1(1), Mumbai Va. Rolta India Ltd. in ITA No 882(Mum) of 2017 for AY 2012 13 dated 07.09.2018which in turn based on the judgment in the case of Everest Kanto Cylinders Ltd (EKC) of Hon'ble ITAT Mumbai (34 Taxmann.com 19 (Mum Tribunal) dated 23.11.2012 and decision of Hon'ble Bombay High Court (ITA No. 1165 of 2013 dated 08.05.2015 for AY 2007-08) without Page No. | 65 ITA NO. 465 & 931/MUM/2020 (A.Y: 2015-16) UltraTech Cement Limited appreciating certain important facts having bearing on the benchmarking such as: i. The quotation obtained by the Everest…

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CC 1(4), MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 465/MUM/2020[2015-16]Status: DisposedITAT Mumbai12 May 2023AY 2015-16

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 115Section 32Section 32ASection 80I

…is correct in relying on decisions in the cases of DCTTCC) 1(1), Mumbai Va. Rolta India Ltd. in ITA No 882(Mum) of 2017 for AY 2012 13 dated 07.09.2018which in turn based on the judgment in the case of Everest Kanto Cylinders Ltd (EKC) of Hon'ble ITAT Mumbai (34 Taxmann.com 19 (Mum Tribunal) dated 23.11.2012 and decision of Hon'ble Bombay High Court (ITA No. 1165 of 2013 dated 08.05.2015 for AY 2007-08) without Page No. | 65 ITA NO. 465 & 931/MUM/2020 (A.Y: 2015-16) UltraTech Cement Limited appreciating certain important facts having bearing on the benchmarking such as: i. The quotation obtained by the Everest…

GKC PROJECTS LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(1), HYDERABAD

The appeals are partly allowed, accordingly

ITA 421/HYD/2022[2018-19]Status: DisposedITAT Hyderabad28 Apr 2023AY 2018-19

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

For Appellant: Shri P.V.S.S. Prasad, ARFor Respondent: Shri Rajendra Kumar, CIT-DR
Section 143(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER निर्धारण वर्ा आ.अपी.सं / अपीलधर्थी / प्रत्‍यर्थी / / A.Y. ITA-TP No. Appellant Respondent Asst. Commissioner of 552/Hyd/21 2017-18 Income Tax, GKC Projects Limited, Circle-3(1) / Hyderabad Asst. Commissioner of [PAN No. AACCG1395F] Income Tax, 421/Hyd/22 2018-19 Central Circle-3(1), Hyderabad निर्धाररती द्वधरध/Assessee by: Shri P.V.S.S. Prasad, AR रधजस्‍व द्वधरध/Revenue by: Shri Rajendra Kumar, CIT-DR सुिवधई की तधरी…

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