Foursoft Ltd. v. DCIT

62 DTR 308Reported decision#21163 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2017 to 2023.

Judgments citing Foursoft Ltd. v. DCIT

Dic India Ltd., Kolkata vs. DCIT, Circle - 10(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 2084/KOL/2018[2014-15]Status: DisposedITAT Kolkata04 Jan 2023AY 2014-15

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No. 2084/Kol/2018 Assessment Year: 2014-2015 Dic India Limited,..................................Appellant Transport Depot Road, Kolkata-700088 [Pan: Aabcc0703C] -Vs.- Deputy Commissioner Of Income Tax,......Respondent Circle-10(1), Aayakarbhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Akkaldudhwewala, A.R., Appeared On Behalf Of The Assessee Shri Hukumasema, Cit, Appeared On Behalf Of The Revenue

Section 144CSection 144C(5)

…ITA No. 2084/KOL/2018 Assessment Year: 2014-2015 DIC India Limited IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH, KOLKATA Before Shri Rajesh Kumar,Accountant Member & Shri Sonjoy Sarma, Judicial Member I.T.A. No. 2084/KOL/2018 Assessment Year: 2014-2015 DIC India Limited,..................................Appellant Transport Depot Road, Kolkata-700088 [PAN: AABCC0703C] -Vs.- Deputy Commissioner of Income Tax,......Respondent Circle-10(1), AayakarBhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances by: Shri AkkalDudhwewala, A.R., appeared on behalf of the assessee Shri HukumaSema, CIT, appeared on beha…

Almatis Alumina Private Ltd, Kolkata vs. DCIT, Circle-8(1), Kolkata

In the result, boththe appeals of the assessee in ITA No

ITA 726/KOL/2017[2012-13]Status: DisposedITAT Kolkata16 Apr 2019AY 2012-13

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

For Appellant: Shri J.P. Khaitan, Sr. AdvocateFor Respondent: Shri P.K. Srihari, CIT DR
Section 143(1)Section 143(3)Section 144CSection 144C(1)Section 144C(13)Section 271(1)Section 92CSection 92E

…he net margin on an international transaction with the assessee's enterprises in respect of transactions carried on by the assessee. This view of ours is also supported by the order of the Hyderabad Bench of the Tribunal in the case of Foursoft Ltd. vs. DCIT (62 DTR 308) (Hyd). Same view has been taken by the Tribunal in various cases stated by the assessee.” Therefore, respectfully following the findings of the Co-ordinate Benches in the above noted two judgments we direct the ld. TPO/Assessing Officer to consider the assessee’s audited segmental results to compute arm`s length price (ALP). 34. Ground no. 3 ra…

Almatis Alumina Private Ltd, Kolkata vs. DCIT, Circle-8(1), Kolkata

In the result, boththe appeals of the assessee in ITA No

ITA 2361/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Apr 2019AY 2013-14

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

For Appellant: Shri J.P. Khaitan, Sr. AdvocateFor Respondent: Shri P.K. Srihari, CIT DR
Section 143(1)Section 143(3)Section 144CSection 144C(1)Section 144C(13)Section 271(1)Section 92CSection 92E

…he net margin on an international transaction with the assessee's enterprises in respect of transactions carried on by the assessee. This view of ours is also supported by the order of the Hyderabad Bench of the Tribunal in the case of Foursoft Ltd. vs. DCIT (62 DTR 308) (Hyd). Same view has been taken by the Tribunal in various cases stated by the assessee.” Therefore, respectfully following the findings of the Co-ordinate Benches in the above noted two judgments we direct the ld. TPO/Assessing Officer to consider the assessee’s audited segmental results to compute arm`s length price (ALP). 34. Ground no. 3 ra…

Madhu Jayanti International Limited, Kolkata vs. DCIT, Circle - 4(1), Kolkata

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

ITA 214/KOL/2016[2011-2012]Status: DisposedITAT Kolkata01 Dec 2017AY 2011-2012

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)

For Appellant: Shri Akash Mansinka, ARFor Respondent: Shri G. Mallikarjune, CIT DR
Section 139(5)Section 143(3)Section 144C(5)Section 92CSection 92D

…idered as operating in nature. The aforesaid view of the assessee is supported by the various judgments given by a number of Courts in India. Some of which are reproduced below: Realised Foreign Exchange • Four Soft Ltd V. Deputy Commissioner of Income-Tax (62 DTR 308) "With regard to the exclusion of gain Oil account of foreign exchange fluctuation while computing the net margin, as claimed by the assessee, we find that the exchange fluctuation gains arise out of several factors, for instance, realisation of export proceeds at higher rate, import dues payable at lower rate. Since the gain or loss on account of…

Foursoft Ltd. v. DCIT (62 DTR 308) — Cited in 4 Judgments | BharatTax