Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT

38 SOT 246Income Tax Appellate Tribunal2010#12717 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2016 to 2025.

Issues it is cited on

use of equipmentsection 144c(10)section 2(45)intra group servicessection 92b(1)section 43(5)speculative transactionset off of lossesinterest under section 234csection 70retrospective amendmentsection 155

Judgments citing Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT

Indus Biotech Limited, Pune vs. The Assistant Commissioner of Income Tax, Circle 1(1), Pune

Accordingly, this ground is allowed

ITA 122/PUN/2024[2019-20]Status: DisposedITAT Pune10 Jan 2025AY 2019-20

Bench: Shri R. K. Panda & Ms. Astha Chandra

Section 115JSection 143(1)Section 143(1)(a)Section 36(1)(va)Section 37(1)

…. 11. The Ld. Counsel for the assessee relied on the following decisions: i) Hon'ble Bombay High Court judgment in the case of CIT vs. M/s. Essar Oil Limited vide ITA (Lodg) No.921 of 2006, order dated 16.10.2008 ii) Nimbus Communications Ltd. vs. ACIT (2010) 38 SOT 246 (MUM) iii) Aurangabad Electricals Ltd. vs. DCIT vide ITA No.2104/PUN/2017, order dated 18.06.2021 iv) DCIT vs. Kumar Urban Development Ltd. and cross appeal vide ITA Nos.2164/PUN/2016 & 2175/PUN/2016, order dated 14.08.2019 v) M/s. Go Airlines (India) Limited vs. DCIT vide ITA No.3789/Mum/2018, order dated 25.01.2021 vi) Vimal Oil Foods Ltd vs. JC…

Xchanging Solutions Limited, Bangalore vs. ITO, Bangalore

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

ITA 556/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 Jan 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

…note that prior to the decisions of Mumbai Bench in the case of Siro Clinpharm (P.) Ltd. (supra) there are series of decisions of this Tribunal including the decision in cases of Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT [2010] 38 SOT 246 (Mum.) wherein the Tribunal has taken a consistent view that providing corporate guarantee to AE is an international transaction however, the ALP of such transaction was to be computed having regard to the financial consideration as the nature of transaction between the related parties. The Tribunal has taken a view that the guarantee fees for pro…

ITO, Bangalore vs. M/S Xchanging Solutions Ltd., Bangalore

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

ITA 402/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 Jan 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

…note that prior to the decisions of Mumbai Bench in the case of Siro Clinpharm (P.) Ltd. (supra) there are series of decisions of this Tribunal including the decision in cases of Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT [2010] 38 SOT 246 (Mum.) wherein the Tribunal has taken a consistent view that providing corporate guarantee to AE is an international transaction however, the ALP of such transaction was to be computed having regard to the financial consideration as the nature of transaction between the related parties. The Tribunal has taken a view that the guarantee fees for pro…

Xchanging Solutions Limited, Bangalore vs. DCIT, Bangalore

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

ITA 492/BANG/2015[2010-11]Status: DisposedITAT Bangalore19 Jan 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

…note that prior to the decisions of Mumbai Bench in the case of Siro Clinpharm (P.) Ltd. (supra) there are series of decisions of this Tribunal including the decision in cases of Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT [2010] 38 SOT 246 (Mum.) wherein the Tribunal has taken a consistent view that providing corporate guarantee to AE is an international transaction however, the ALP of such transaction was to be computed having regard to the financial consideration as the nature of transaction between the related parties. The Tribunal has taken a view that the guarantee fees for pro…

DCIT, Bangalore vs. M/S Xchanging Solutions Ltd., Bangalore

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

ITA 459/BANG/2015[2010-11]Status: DisposedITAT Bangalore19 Jan 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

…note that prior to the decisions of Mumbai Bench in the case of Siro Clinpharm (P.) Ltd. (supra) there are series of decisions of this Tribunal including the decision in cases of Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT [2010] 38 SOT 246 (Mum.) wherein the Tribunal has taken a consistent view that providing corporate guarantee to AE is an international transaction however, the ALP of such transaction was to be computed having regard to the financial consideration as the nature of transaction between the related parties. The Tribunal has taken a view that the guarantee fees for pro…

DCIT-9(1)(2), Mumbai vs. Atc India Tower Corporation Pvt. Ltd, Mumbai

In the result, appeal filed by assessee is allowed

ITA 2620/MUM/2016[2008-09]Status: DisposedITAT Mumbai31 Jul 2018AY 2008-09

Bench: Shri G.S. Pannu & Shri Pawan Singhin The Matter Of Deputy Commissioner Of Income-Tax -9(2) Room No. 260A, 2Nd Floor, Aayakar Bhawan, M. K. Road, Mumbai-400020 ------- Appellant/ Revenue (Revenue Through Sh. Rajesh Kumar Yadav Sr Dr Versus M/S Atc India Tower Corporation, 404, 4Th Floor, Skyline Icon, Andheri Kurla Road, Andheri East, Mumbai- 400049 Pan: Aajcs7669H -------- Respondent / Assessee (Assessee Through Sh. Satyen Sethi Advocate Reserve For Order : 02.05.2018 Date Of Pronouncement : 31.07.2018 Order Under Section 254(1) Of Income -Tax Act Per Pawan Singh; 1. This Appeal By Revenue Under Section 253 Of Income-Tax Act Is Directed Against The Order Of Commissioner (Appeals)-16, Mumbai Dated 22Nd January 2016, Which Arise From Assessment Order Passed Under Section 143(3) Read With Section 147 Dated 25Th March 2013 For Assessment Year

Section 143(3)Section 147Section 148Section 253Section 254(1)

…CIT Versus Reliance Communication Infrastructure (2013) 212 ITR 177 (Bom), CIT Versus Virtual Soft System Ltd (2018) 92 taxmann.com 370 (SC), CIT Versus Nimbus Communication Ltd ITA No. 4244/2010 dated 18th December 2011, Nimbus Communication Ltd Versus ACIT 38 SOT 246(Bombay) and Vimal Oil Foods Ltd Versus JCIT ITA No.2515/Ahd/2010 dated 05 July 2013. 6. We have considered the rival submissions of the parties and have gone through the orders of the authorities below. We have seen that original assessment was completed on 29th December 2010 under section 143(3). The assessment was reopened under section 147. Not…

Safilo India P.Ltd, Navi Mumbai vs. DCIT Cir 15(3)(2), Mumbai

ITA 588/MUM/2015[2010-11]Status: DisposedITAT Mumbai12 Jan 2018AY 2010-11
For Appellant: S/Shri Percy Pardiwala/Niraj ShethFor Respondent: Shri Jayant Kumar -DR
Section 254(1)

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई “ केकेकेके” खंडपीठ मुंबई खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“K”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"",लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं, राम एवं राम राम लाल राम लाल लाल नेगी लाल नेगी नेगी, "याियक नेगी "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Shri Rajendra,Accountant Member and Ram Lal Negi,Judicial Member आयकर अपील आयकर अपील संसंसंसं./I.T.A./588/Mum/2015,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2010-11 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" आयकर…

M/S Tally Solutions Pvt. Ltd., Bangalore vs. ACIT, Bangalore

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

ITA 1364/BANG/2011[2007-08]Status: DisposedITAT Bangalore19 Aug 2016AY 2007-08

Bench: Shri A.K. Garodia & Shri Vijay Pal Rao

For Appellant: Shri Arvind Sonde, Senior CounselFor Respondent: Smt. Neera Malhotra, CIT-II (D.R)
Section 143(3)Section 928Section 92C

…no mention of any comparable uncontrolled transaction to substantiate the stand that such method has been adopted. xii) ignoring the ratio laid down by the Hon'ble ITAT, Mumbai in the case of M/s.Nimbus Communications Ltd V. ACIT Circle 11 (1), Mumbai (2010) 38 SOT 246 (Mum), wherein it has been held that no adjustment -towards interest can be quantified on bills outstanding for services rendered. xiii) ignoring the ratio laid down by the Hon'ble ITAT, Murnbai in the case of M/s.Nimbus Communications Ltd for the A.Y.2004-05 in ITA No. 6597/Mum/09 relying on its own order for the A.Y.2003-04 wherein it has been…

Four Soft (P.) Ltd. (supra) and Nimbus Communications Ltd. v. Asstt. CIT (38 SOT 246) — Cited in 8 Judgments | BharatTax