Everest Kanto Cylinders Ltd. v. DCIT

34 Taxmann.com 19Income Tax Appellate Tribunal2013#1763 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 366,339 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

Gkc Projects Limited, Hyderabad vs. Assistant Commissioner of Income Tax, Circle-3(1), Hyderabad

The appeals are partly allowed, accordingly

ITA 552/HYD/2021[2017-18]Status: DisposedITAT Hyderabad28 Apr 2023AY 2017-18

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…

Ocimum Bio Solutions (I) Ltd., Hyd, Hyderabad vs. ACIT, Circle-16(2), Hyderabad

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

ITA 280/HYD/2016[2011-12]Status: DisposedITAT Hyderabad26 Apr 2023AY 2011-12

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं / Ita No. 280/Hyd/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/S. Ocimum Bio Solutions Asst. Commissioner Of (I) Ltd., Vs. Income Tax, Hyderabad Circle- 16(2), [Pan No. Aaaco4095L] Hyderabad अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent

For Appellant: Shri P. Murali Mohan Rao, ARFor Respondent: Shri Jeevan Lal Lavidiya, CIT-DR
Section 143(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, ACCOUNTANT MEMBER & SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No. 280/Hyd/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/s. Ocimum Bio Solutions Asst. Commissioner of (I) Ltd., Vs. Income Tax, Hyderabad Circle- 16(2), [PAN No. AAACO4095L] Hyderabad अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धाररती द्वधरध/Assessee by: Shri P. Murali Mohan Rao, AR रधजस्‍व द्वधरध / Revenue by: Shri Jeevan Lal Lavidiya, CIT-DR सुिवधई की तधरीख/Date of hearing: 15/03/2023 घ…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1899/KOL/2017[2013-14]Status: DisposedITAT Kolkata13 Feb 2023AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1854/KOL/2016[2012-13]Status: DisposedITAT Kolkata13 Feb 2023AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

DCIT, Chennai vs. Siva Ventures Ltd., Chennai

The appeal of the revenue stand partly allowed in terms of our above order

ITA 1417/CHNY/2016[2008-2009]Status: DisposedITAT Chennai23 Dec 2022AY 2008-2009

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

For Appellant: Shri B. Ramakrishnan (CA) – Ld. ARFor Respondent: Ms. Ann L.Kapthuama (CIT) –Ld. DR
Section 143(3)Section 14ASection 250(6)

…आयकर अपीलीय अिधकरण ‘डी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI माननीय ,ी महावीर िसंह, उपा23 एवं माननीय ,ी मनोज कुमार अ8वाल ,लेखा सद; के सम3। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM. आयकरअपीलसं./ITA No.1390/Chny/2016 (िनधाDरणवषD / Assessment Year: 2008-09) M/s. Siva Industries and Holdings Ltd. DCIT (merged entity of M/s Siva Ventures Ltd.) Corporate Circle-3(2), बनाम/ New No.19, Old No.32, Chennai. Vs. Cathedral Garden Road, Nugambakkam Chennai – 600 034 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACS-8496-D (अपीलाथ"/Appellant) : (""थ…

Siva Industries and Holdings Limited, Chennai vs. DCIT, Chennai

The appeal of the revenue stand partly allowed in terms of our above order

ITA 1390/CHNY/2016[2008-09]Status: DisposedITAT Chennai23 Dec 2022AY 2008-09

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

For Appellant: Shri B. Ramakrishnan (CA) – Ld. ARFor Respondent: Ms. Ann L.Kapthuama (CIT) –Ld. DR
Section 143(3)Section 14ASection 250(6)

…आयकर अपीलीय अिधकरण ‘डी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI माननीय ,ी महावीर िसंह, उपा23 एवं माननीय ,ी मनोज कुमार अ8वाल ,लेखा सद; के सम3। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM. आयकरअपीलसं./ITA No.1390/Chny/2016 (िनधाDरणवषD / Assessment Year: 2008-09) M/s. Siva Industries and Holdings Ltd. DCIT (merged entity of M/s Siva Ventures Ltd.) Corporate Circle-3(2), बनाम/ New No.19, Old No.32, Chennai. Vs. Cathedral Garden Road, Nugambakkam Chennai – 600 034 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACS-8496-D (अपीलाथ"/Appellant) : (""थ…

Siva Ventures Limited, Chennai vs. ACIT, Chennai

The appeal stand partly allowed in terms of our above order

ITA 1040/CHNY/2014[2009-10]Status: DisposedITAT Chennai23 Dec 2022AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

For Appellant: Shri B. Ramakrishnan (CA) – Ld. ARFor Respondent: Ms. Ann L.Kapthuama (CIT) –Ld. DR
Section 143(3)Section 14A

…ld. By deleting the same, we allow this ground raised by the assessee. 3.2 So far as the benchmarking of corporate guarantee is concerned, we find that this issue is squarely covered by the decision of Mumbai 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) wherein this transaction was held to be an international transaction and the same was benchmarked @0.50%. Respectfully following the same, we direct Ld. AO / TPO to adopt benchmarking rate of 0.50% and recompute the adjustment. The grounds raised by the revenue sta…

Asst. Commissioner of Income Tax-3(4), Mumbai-400005 vs. M/S. Everest Kanto Cylinder Ltd., Mumbai-400021

ITA 1172/MUM/2022[2014-15]Status: DisposedITAT Mumbai24 Nov 2022AY 2014-15

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2013-14 & Assessment Year: 2014-15

For Appellant: Shri Shekhar Gupta, A.RFor Respondent: Shri Samruddhi Dhananjay Hande, D.R
Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2013-14 & Assessment Year: 2014-15 Asst. Commissioner of M/s. Everest Kanto Income Tax, Circle-3(4), Cylinder Ltd., 29th Floor, 204, Raheja Centre, Centre-1, Vs. 214, Free Press Journal World Trade Centre, Marg, Cuffe Parade, Nariman Point, Mumbai - 400005 Mumbai – 400 021 PAN: AAACE0836F (Appellant) (Respondent) Present for: Assessee by : Shri Shekhar Gupta, A.R. Revenue by : Shri Samruddhi Dhananjay Hande, D.R. Date of Hearing : 10 . 10 . 2022 Date…

ACIT Cir 3(4), Mumbai vs. M/S. Everest Kanto Cylinder Ltd, Mumbai

ITA 1793/MUM/2021[2013-14]Status: DisposedITAT Mumbai24 Nov 2022AY 2013-14

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2013-14 & Assessment Year: 2014-15

For Appellant: Shri Shekhar Gupta, A.RFor Respondent: Shri Samruddhi Dhananjay Hande, D.R
Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2013-14 & Assessment Year: 2014-15 Asst. Commissioner of M/s. Everest Kanto Income Tax, Circle-3(4), Cylinder Ltd., 29th Floor, 204, Raheja Centre, Centre-1, Vs. 214, Free Press Journal World Trade Centre, Marg, Cuffe Parade, Nariman Point, Mumbai - 400005 Mumbai – 400 021 PAN: AAACE0836F (Appellant) (Respondent) Present for: Assessee by : Shri Shekhar Gupta, A.R. Revenue by : Shri Samruddhi Dhananjay Hande, D.R. Date of Hearing : 10 . 10 . 2022 Date…

Assistant Commissioner of Income Tax Circle-2(3)(1), Mumbai vs. Tata Sons Limited, Mumbai

In the result, appeal by the Revenue is dismissed

ITA 4323/MUM/2017[2011-12]Status: DisposedITAT Mumbai16 Aug 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Ms. Aarti Vissanji a/wFor Respondent: Shri Tejinder Pal Singh
Section 143(2)Section 143(3)Section 250Section 92C

…hearing in the case of Virgo Engineers Ltd. vs. DCIT in IT(TP)A No.3718/Mum/2017 for A.Y.2011-12 dated 08/01/2019 wherein by placing reliance on the decision of Hon'ble Jurisdictional High court in the case of Everest Kanto Cylinder Ltd., vs. DCIT reported in 34 Taxmann.com 19, the ALP of corporate guarantee fee was restricted to 0.5%. Respectfully following the same, we direct the Id. TPO to consider the ALP of corporate guarantee fee at 0.5% and further reduce 0.25% already charged by the assessee and make adjustment accordingly. Accordingly, the ground No.1 raised by the assessee is partly allowed.” 9. We fur…

Tata Sons Ltd., Mumbai vs. ACIT, Cir 2(3)(1), Mumbai

In the result, appeal by the Revenue is dismissed

ITA 4221/MUM/2017[2011-12]Status: DisposedITAT Mumbai16 Aug 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Ms. Aarti Vissanji a/wFor Respondent: Shri Tejinder Pal Singh
Section 143(2)Section 143(3)Section 250Section 92C

…hearing in the case of Virgo Engineers Ltd. vs. DCIT in IT(TP)A No.3718/Mum/2017 for A.Y.2011-12 dated 08/01/2019 wherein by placing reliance on the decision of Hon'ble Jurisdictional High court in the case of Everest Kanto Cylinder Ltd., vs. DCIT reported in 34 Taxmann.com 19, the ALP of corporate guarantee fee was restricted to 0.5%. Respectfully following the same, we direct the Id. TPO to consider the ALP of corporate guarantee fee at 0.5% and further reduce 0.25% already charged by the assessee and make adjustment accordingly. Accordingly, the ground No.1 raised by the assessee is partly allowed.” 9. We fur…

M/S. Berger Paints India Ltd., Kolkata vs. D.C.I.T., Circle-10(1), Kolkata

In the result, both the appeals of the revenue are partly allowed and appeals of assessee are dismissed

ITA 2295/KOL/2019[2010-11]Status: DisposedITAT Kolkata29 Jul 2022AY 2010-11

Bench: Shri Sanjay Garg & Shri Girish Agrawalita Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner Of Berger Paints India Ltd. Income-Tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (Pan: Aabcb0976E) (Appellant) (Respondent) &

For Appellant: Shri J. P. Khaitan, Sr. AdvocateFor Respondent: Shri Tushar Dhawan Singh & Shri David Z
Section 143(3)Section 14ASection 80Section 8OSection 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCH “C”, KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner of Berger Paints India Ltd. Income-tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (PAN: AABCB0976E) (Appellant) (Respondent) & ITA Nos.2294 & 2295/Kol/2019 Assessment Year: 2009-10 & 2010-11 Berger Paints India Ltd. Deputy Commissioner of 129, Park Street Income-tax Vs. Kolkata-17 Circle-10(1) (PAN: AABCB0976E) Kolkata (Appellant) (Respondent) Present for: Assessee : Shri…

M/S. Berger Paints India Ltd., Kolkata vs. D.C.I.T., Circle-10(1), Kolkata

In the result, both the appeals of the revenue are partly allowed and appeals of assessee are dismissed

ITA 2294/KOL/2019[2009-10]Status: DisposedITAT Kolkata29 Jul 2022AY 2009-10

Bench: Shri Sanjay Garg & Shri Girish Agrawalita Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner Of Berger Paints India Ltd. Income-Tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (Pan: Aabcb0976E) (Appellant) (Respondent) &

For Appellant: Shri J. P. Khaitan, Sr. AdvocateFor Respondent: Shri Tushar Dhawan Singh & Shri David Z
Section 143(3)Section 14ASection 80Section 8OSection 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCH “C”, KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner of Berger Paints India Ltd. Income-tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (PAN: AABCB0976E) (Appellant) (Respondent) & ITA Nos.2294 & 2295/Kol/2019 Assessment Year: 2009-10 & 2010-11 Berger Paints India Ltd. Deputy Commissioner of 129, Park Street Income-tax Vs. Kolkata-17 Circle-10(1) (PAN: AABCB0976E) Kolkata (Appellant) (Respondent) Present for: Assessee : Shri…

D.C.I.T., Circle-10(1), Kolkata vs. M/S. Berger Paints India Ltd., Kolkata

In the result, both the appeals of the revenue are partly allowed and appeals of assessee are dismissed

ITA 918/KOL/2017[2010-11]Status: DisposedITAT Kolkata29 Jul 2022AY 2010-11

Bench: Shri Sanjay Garg & Shri Girish Agrawalita Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner Of Berger Paints India Ltd. Income-Tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (Pan: Aabcb0976E) (Appellant) (Respondent) &

For Appellant: Shri J. P. Khaitan, Sr. AdvocateFor Respondent: Shri Tushar Dhawan Singh & Shri David Z
Section 143(3)Section 14ASection 80Section 8OSection 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCH “C”, KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner of Berger Paints India Ltd. Income-tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (PAN: AABCB0976E) (Appellant) (Respondent) & ITA Nos.2294 & 2295/Kol/2019 Assessment Year: 2009-10 & 2010-11 Berger Paints India Ltd. Deputy Commissioner of 129, Park Street Income-tax Vs. Kolkata-17 Circle-10(1) (PAN: AABCB0976E) Kolkata (Appellant) (Respondent) Present for: Assessee : Shri…

D.C.I.T., Circle-10(1), Kolkata vs. M/S. Berger Paints India Ltd., Kolkata

In the result, both the appeals of the revenue are partly allowed and appeals of assessee are dismissed

ITA 917/KOL/2017[2009-10]Status: DisposedITAT Kolkata29 Jul 2022AY 2009-10

Bench: Shri Sanjay Garg & Shri Girish Agrawalita Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner Of Berger Paints India Ltd. Income-Tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (Pan: Aabcb0976E) (Appellant) (Respondent) &

For Appellant: Shri J. P. Khaitan, Sr. AdvocateFor Respondent: Shri Tushar Dhawan Singh & Shri David Z
Section 143(3)Section 14ASection 80Section 8OSection 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCH “C”, KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos.917 & 918/Kol/2017 Assessment Year: 2009-10 & 2010-11 Deputy Commissioner of Berger Paints India Ltd. Income-tax Vs. 129, Park Street Circle-10(1) Kolkata-17 Kolkata (PAN: AABCB0976E) (Appellant) (Respondent) & ITA Nos.2294 & 2295/Kol/2019 Assessment Year: 2009-10 & 2010-11 Berger Paints India Ltd. Deputy Commissioner of 129, Park Street Income-tax Vs. Kolkata-17 Circle-10(1) (PAN: AABCB0976E) Kolkata (Appellant) (Respondent) Present for: Assessee : Shri…

Rosy Blue (India) Pvt. Ltd., Mumbai vs. DCIT Cent. Cir. 46 (Now DCIT - CC -8(3), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 308/MUM/2019[2013-14]Status: DisposedITAT Mumbai23 Jul 2021AY 2013-14
Section 143(3)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Rosy Blue (India) Pvt. Ltd., Vs. Deputy Commissioner of 1068/09, Prasad Chambers Income Tax Opera House, Central Circle-8(3) Mumbai – 400 004 Mumbai- 400 020 PAN/GIR No.AACCR2413B (Appellant) .. (Respondent) Assessee by Shri Nitesh Joshi & Shri P.P. Bhandari Revenue by Shri Manpreet S. Duggal Date of Hearing 15/07/2021 Date of Pronouncement 23/07/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.308/Mum/2019 for A.Y.2013-14 arises out of the order b…

DCIT 5(2)(1), Mumbai vs. Kec International Ltd., Mumbai

In the result, the appeal is partly allowed

ITA 6447/MUM/2016[2011-12]Status: DisposedITAT Mumbai23 Mar 2021AY 2011-12

Bench: Shri Vikas Awasthy () & Shri N.K. Pradhan ()

For Appellant: Shri Anuj Kisnadwala, ARFor Respondent: Shri Sushil Kumar Mishra, DR
Section 115Section 115JSection 143Section 2

…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 re- compute the same in terms of our above order. The grounds stand partly allowed.” 25.3 Facts being identical, we follow the above order of the Co-ordinate…

M/S Rosy Blue (India) Pvt. Ltd., Mumbai vs. Dy. CIT Central Circle-8(3), Mumbai

In the result, appeal is partly allowed

ITA 1724/MUM/2019[2014-15]Status: DisposedITAT Mumbai16 Feb 2021AY 2014-15

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Chandra Vijay
Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA no.1724/Mum./2019 (Assessment Year : 2014–15) M/s. Rosy Blue (India) Pvt. Ltd. 1608/09, Prasad Chambers ……………. Appellant Opera House, Mumbai 400004 PAN – AACCR2413B v/s Dy. Commissioner of Income Tax ……………. Respondent Circle–8(3), Mumbai Assessee by : Shri Nitesh Joshi Revenue by : Shri Chandra Vijay Date of Hearing – 10.02.2021 Date of Order – 16.02.2021 O R D E R PER SAKTIJIT DEY. J.M. The captioned appeal has been filed by the assessee challenging order dated 14th…

The DCIT, Circle-1, Ahmedabad vs. Aia Engineering Ltd., Ahmedabad

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

ITA 1766/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad04 Jan 2021AY 2008-09
For Appellant: Shri T.P. Hemani, Sr. A.R. &For Respondent: Shri Vinod Tanwani, Sr. D.R
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH (Virtual Court) Before: Shri Rajpal Yadav, Vice President And Shri Amarjit Singh, Accountant Member Sl. ITA No. Appellant Respondent A.Y. No. 1 1766/Ahd/2012 Dy. CIT, AIA 2008-09 Circle-1, Ah’d Engineering Ltd. Ah’d 2 2342/Ahd/2015 Dy. CIT, AIA 2009-10 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 3 2343/Ahd/2015 Dy. CIT, AIA 2010-11 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 4 1112/Ahd/2017 Dy. CIT, AIA 2011-12 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 5 1835/Ahd/2017 Dy. CIT, AIA 2012-13 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 6 2805/Ahd/2017 Dy. CIT,…

Aia Engineering Ltd., Ahmedabad vs. The Dy.CIT., Circle-1, Ahmedabad

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

ITA 1757/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad04 Jan 2021AY 2008-09
For Appellant: Shri T.P. Hemani, Sr. A.R. &For Respondent: Shri Vinod Tanwani, Sr. D.R
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH (Virtual Court) Before: Shri Rajpal Yadav, Vice President And Shri Amarjit Singh, Accountant Member Sl. ITA No. Appellant Respondent A.Y. No. 1 1766/Ahd/2012 Dy. CIT, AIA 2008-09 Circle-1, Ah’d Engineering Ltd. Ah’d 2 2342/Ahd/2015 Dy. CIT, AIA 2009-10 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 3 2343/Ahd/2015 Dy. CIT, AIA 2010-11 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 4 1112/Ahd/2017 Dy. CIT, AIA 2011-12 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 5 1835/Ahd/2017 Dy. CIT, AIA 2012-13 Circle-1(1)(1), Engineering Ah’d Ltd. Ah’d 6 2805/Ahd/2017 Dy. CIT,…