Firmenich Armatics India (P) Ltd. v. DCIT

Firmenich Aromatics Production (India) Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle 1(3)(1), Mumbai

Bench: Smt. Beena Pillai & Shri Girish Agrawal

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 3987/MUM/2024 Assessment Year: 2020-21 Firmenich Production Limited Aromatics (India) Private Assessing Officer, Assessment Unit, Income Tax Department, Delhi Vs. Firmenich House, ABR Sapphire, Plot No 79 Street 13, MIDC, Andheri East, Chakala MIDC, S.O., Mumbai – 400093 (PAN : AABCF1120G) (Appellant) (Respondent) Present for: Assessee : Shri Madhur Agrawal, Advocate Shri Pratik Poddar and Shri Yash Ranglani Revenue : Ms. Ramapriya Raghavan, CIT DR Date of Hearing : 0…

Firmenich Aromatics Production (India) Private Limited, Mumbai vs. Assessing Officer, New Delhi

Bench: Smt. Beena Pillai & Shri Girish Agrawal

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 3987/MUM/2024 Assessment Year: 2020-21 Firmenich Production Limited Aromatics (India) Private Assessing Officer, Assessment Unit, Income Tax Department, Delhi Vs. Firmenich House, ABR Sapphire, Plot No 79 Street 13, MIDC, Andheri East, Chakala MIDC, S.O., Mumbai – 400093 (PAN : AABCF1120G) (Appellant) (Respondent) Present for: Assessee Revenue Date of Hearing : Shri Madhur Agrawal, Advocate Shri Pratik Poddar and Shri Yash Ranglani : Ms. Ramapriya Raghavan, CIT DR :…

Wns Global Services P. Ltd., Mumbai vs. Addl/Jt/Dy/Asstt/CIT/ITO, Nationa Faceless Assessment Centre, Dilhi

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalwns Global Services Pvt. Ltd., Pl 10, Gate No.4, Godrej & Boyce Complex, Pirojshanagar, Lbs Marg, Vikhroli (West), Mumbai-400079. Pan: Aaacw2598L ...... Appellant Vs.. Addl./Jt/Dy./Acit/Ito/Nfac, Room No. 455, Circle-14(3)(1), Mumbai. ..... Respondent Appellant/Assessee By : Sh. Porus Kaka, Sr. Adv. & Sh. Manish Kant Respondent/Revenue By : Sh. Jasdeep Singh, Cit-Dr

…nder the valuation report given by an independent valuer was considered as CUP. Tecumseh Products India (P) Ltd. v. ACIT (ITA 1686 (HYD) OF 2010) Social Media India Ltd. v. ACIT (28 ITR(T) 212) (Hyderabad-Trib) Firmenich Armatics India (P) Ltd. v. DCIT [2018] 96 Taxmann.com 649 Hon'ble Delhi High Court in Li & Fung India (P) Ltd v. CIT (2014) 361 ITR 85 VII. Appropriateness of the valuation obtained from the independent valuation expert cannot be challenged (Refer para 10.7 on page 39 of the DRP Application) TPO’s Actions: The learned TPO rejected the valuation report submitted by the Assessee and reworked the va…

ACIT, Cir- 14(1)(2), Mumbai vs. Wns Global Services Pvt. Ltd., Mumbai

In the result, appeal filed by the assessee is allowed

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

…the AE. Considering the totality of the facts of the case, we are of the opinion that the website purchased by the assessee has to be considered at Arm's length. " WNS Global Services Pvt. Ltd., In the case of Firmenich Armatics India (P) Ltd. vs. DCIT [2018] 96 Taxmann.com 649, the Co-ordinate Bench has held that TPO is duty bound to determine arm’s length price of international transaction by adopting one of the methods prescribed under statute and cannot deviate from restrictions/conditions imposed under statute. It further held that there is no provisions under the Act empowering TPO to determine arm’s length…

ACIT, Circle 14 (1)(2), Mumbai vs. Wns Global Services Pvt. Ltd., Mumbai

In the result, appeal filed by the assessee is allowed

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

…the AE. Considering the totality of the facts of the case, we are of the opinion that the website purchased by the assessee has to be considered at Arm's length. " WNS Global Services Pvt. Ltd., In the case of Firmenich Armatics India (P) Ltd. vs. DCIT [2018] 96 Taxmann.com 649, the Co-ordinate Bench has held that TPO is duty bound to determine arm’s length price of international transaction by adopting one of the methods prescribed under statute and cannot deviate from restrictions/conditions imposed under statute. It further held that there is no provisions under the Act empowering TPO to determine arm’s length…

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

…Dow Agrosciences India (P) Ltd. Vs. ACIT-3(1)(1), Mumbai – A.Y 2014-15 1 INCOME TAX APPELLATE TRIBUNAL “K” Bench, Mumbai Before Shri S. Rifaur Rahman, Accountant Member and Shri Ravish Sood, Judicial Member Dow 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 PAN – AAACD3813H (Appellant) (Respondent) Appellant by: Shri Nishant Thakkar, A.R Respondent by: Shri Sunil Deshpande, D.R Date of Hearing: 10.02.2021 Da…

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)

…ITA Nos.1051/Mum/2015, ITA No.203/Mum/2016 & ITA No.1528/Mum/2017 1 A.Ys 2010-11 to 2012-13 Dow Agrosciences India Pvt. ltd. Vs. ACIT, Range-14(1)(2) IN THE INCOME TAX APPELLATE TRIBUNAL “K” Bench, Mumbai Before Shri Pramod Kumar, Vice President and Shri Ravish Sood, Judicial Member Dow 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 DCI…

Wns Global Services P.Ltd, Mumbai vs. DCIT Cir 14(3)(1), Mumbai

In the result, the appeals are partly allowed

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiita No.2257/Mum/2017 Assessment Year : 2012 -13 Ita No.1955/Mum/2016 Assessment Year : 2011 -12

…er of Tribunal and quashed the order of the TPO, which was merely based on perceptions and without any cogent material. The learned AR also relied on the decision of Mumbai Bench of the Tribunal in the case of Firmenich Armatics India (P) Ltd. vs. DCIT [2018] 96 Taxmann.com 649 wherein it has been held that there is no provision under Act empowering TPO to determine ALP on estimate basis. 14. The learned AR stated that assessee has purchased the business and commercial rights from WCIL in March 2011 on the basis of a valuation undertaken by an independent valuer, who valued the rights from servicing of the MSA e…

Wns Global Services P. Ltd, Mumbai vs. DCIT Cir 14(3)(1), Mumbai

In the result, the appeals are partly allowed

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiita No.2257/Mum/2017 Assessment Year : 2012 -13 Ita No.1955/Mum/2016 Assessment Year : 2011 -12

…er of Tribunal and quashed the order of the TPO, which was merely based on perceptions and without any cogent material. The learned AR also relied on the decision of Mumbai Bench of the Tribunal in the case of Firmenich Armatics India (P) Ltd. vs. DCIT [2018] 96 Taxmann.com 649 wherein it has been held that there is no provision under Act empowering TPO to determine ALP on estimate basis. 14. The learned AR stated that assessee has purchased the business and commercial rights from WCIL in March 2011 on the basis of a valuation undertaken by an independent valuer, who valued the rights from servicing of the MSA e…