Globle Ventedge Pvt Ltd. v. DCIT

37 SOT 1Income Tax Appellate Tribunal2010#7596 most cited
15

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2023.

Judgments citing Globle Ventedge Pvt Ltd. v. DCIT

BA CONTINUUM INDIA P.LTD ( SINCE MERGED WOTJ BA COTINUUM SOLUTIONS P. LTD ),MUMBAI vs. ITO WD 9(1)(2), MUMBAI

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

ITA 2271/MUM/2011[2006-07]Status: DisposedITAT Mumbai17 Aug 2023AY 2006-07

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2006-07 Ba Continuum India Private Ito, Ward 9(1)(2), Limited (Since Merged With Ba Room No. 226, Vs. Continuum Solutions Pvt. Ltd.), Aayakar Bhavan, Mk Road, Building No. 5, K. Raheja Mind Mumbai-20. Space, Hitech City, Madhapur, Hyderabad-500081. Pan No. Aaccc 3062 D Appellant Respondent

For Appellant: Mr. Nishant Thakkar, AdvFor Respondent: Mr. Salil Mishra, CIT-DR
Section 10ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B” MUMBAI BEFORE SHRI VIKAS AWASTHY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2006-07 BA Continuum India Private ITO, Ward 9(1)(2), Limited (Since merged with BA Room No. 226, Vs. Continuum Solutions Pvt. Ltd.), Aayakar Bhavan, MK Road, Building No. 5, K. Raheja Mind Mumbai-20. Space, Hitech City, Madhapur, Hyderabad-500081. PAN No. AACCC 3062 D Appellant Respondent Assessee by : Mr. Nishant Thakkar, Adv. Revenue by : Mr. Salil Mishra, CIT-DR Date of Hearing : 15/06/2023 : Date of pronouncement 17/08/2023 ORDER PER OM PRA…

M/S CONTINENTAL AUTOMOTIVE COMPONENTS INDIA PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BANGALORE

In the result, the appeal is partly allowed

ITA 129/BANG/2019[2014-15]Status: DisposedITAT Bangalore29 Mar 2022AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year :2014-15 M/S. Continental Automotive Vs. Dcit, Components India Pvt. Ltd., Circle – 2(1)(1), Plot No.53B, Bommasandra Industrial Bengaluru. Area, Hosur Road, Attibele Hobli, Anekal Taluk, Bengaluru–560 099. Pan : Aakcs 9578 C Appellant Respondent Assessee By : Shri. T. Suryanarayana, Senior Advocate Revenue By : Shri. Mudavathu Harish Chandra Naik, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 21.03.2022 Date Of Pronouncement : 29.03.2022 O R D E R

For Appellant: Shri. T. Suryanarayana, Senior AdvocateFor Respondent: Shri. Mudavathu Harish Chandra Naik, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 92

…19 of 97 Industry (“FICCI”) survey report. Hence principally capacity utilization adjustment should have been granted. 26. The Assessee has also relied on the following judicial precedents in this regard:  Global Vantedge P. Ltd. v. DCIT reported in [2010] 37 SOT 1 (DELHI)  ITO v. CRM Services India (P) Ltd reported in [2011] 14 taxmann.com 96 (Delhi)  CIT v. Petro Araldite Pvt. Ltd reported in [2018] 93 taxmann.com 438 (Bombay).  Transwitch (India) Pvt. Ltd. v. DCITreported in [2012] 21 taxmann.com 257 (Delhi - Trib.)  Capgemini India Private Limited v. ACIT reported in [2013] 33 taxmann.com 5 (Mumbai - T…

M/S CONTINENTAL AUTOMOTIVE COMPONENTS INDIA PVT LTD ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BANGALORE

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

ITA 713/BANG/2017[2012-13]Status: DisposedITAT Bangalore24 Nov 2021AY 2012-13

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

For Appellant: Shri T. Suryanarayana, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 92C

…rs of Commerce & Industry (“FICCI”) survey report. Hence principally capacity utilization adjustment should have been granted. The assessee also relies on the following judicial precedents in this regard:- • Global Vantedge P. Ltd. v. DCIT reported in [2010] 37 SOT 1 (DELHI) • ITO v. CRM Services India (P) Ltd reported in [2011] 14 taxmann.com 96 (Delhi) • CIT v. Petro Araldite Pvt. Ltd reported in [2018] 93 taxmann.com 438 (Bombay). • Transwitch (India) Pvt. Ltd. v. DCIT reported in [2012] 21 taxmann.com 257 (Delhi - Trib.) • Capgemini India Private Limited v. ACIT reported in [2013] 33 taxmann.com 5 (Mumbai -…

TYCO VALVES & CONTROLS (INDIA) PVT. LTD.,BARODA vs. THE ACIT, CIRCLE- 4,, BARODA

In the result, we hereby confirm the findings of ld

ITA 2799/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad22 Jan 2020AY 2006-07

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.2779/Ahd/2012 2. आयकर अपील सं./Ita No.2799/Ahd/2012 ("नधा"रण वष"/Assessment Year : 2006-07)

For Appellant: Shri S.N. Soparkar, Sr.AdvFor Respondent: Shri Mahesh Shah, CIT-DR
Section 92C(2)

…us to take a view other than view taken by the ld. DRP, we do not want to interfere in the order of the ld. DRP. 16.1 We also draw our support and guidance from the judgment Hon’ble Delhi ITAT bench in the case of Globle Ventedge Pvt Ltd v/s DCIT reported in 37 SOT 1 where in it was held as under: During the course of hearing of this appeal, neither the ld. counsel for the assessee nor the ld. D.R. for the revenue have been able to point out any basis or material or criteria to controvert or to rebut the findings and conclusion arrived at by the ld. CIT(A) except by relying upon their respective stand taken bef…

THE ACIT, CIRCLE- 4,, BARODA vs. TYCO VALVES & CONTROLS (INDIA) PVT. LTD., BARODA

In the result, we hereby confirm the findings of ld

ITA 2779/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad22 Jan 2020AY 2006-07

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.2779/Ahd/2012 2. आयकर अपील सं./Ita No.2799/Ahd/2012 ("नधा"रण वष"/Assessment Year : 2006-07)

For Appellant: Shri S.N. Soparkar, Sr.AdvFor Respondent: Shri Mahesh Shah, CIT-DR
Section 92C(2)

…us to take a view other than view taken by the ld. DRP, we do not want to interfere in the order of the ld. DRP. 16.1 We also draw our support and guidance from the judgment Hon’ble Delhi ITAT bench in the case of Globle Ventedge Pvt Ltd v/s DCIT reported in 37 SOT 1 where in it was held as under: During the course of hearing of this appeal, neither the ld. counsel for the assessee nor the ld. D.R. for the revenue have been able to point out any basis or material or criteria to controvert or to rebut the findings and conclusion arrived at by the ld. CIT(A) except by relying upon their respective stand taken bef…

TYCO VALVES & CONTROLS (INDIA) PVT. LTD.,BARODA vs. THE DY.CIT, BARODA CIR- 4,, BARODA

In the result, Assessee’s appeal is partly allowed for statistical purpose

ITA 2993/AHD/2011[2007-08-]Status: DisposedITAT Ahmedabad22 Jan 2020

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri S.N. Soparkar, Sr.AdvFor Respondent: Shri Mahesh Shah, CIT-DR
Section 10BSection 144C(5)Section 920(2)

…erfere in the order of the ld. DRP. ACIT vs. M/s.Tyco Valves & Controls (I) Pvt.Ltd.vs. DCIT Asst.Year - 2007-08 16.1 We also draw our support and guidance from the judgment Hon’ble Delhi ITAT bench in the case of Globle Ventedge Pvt Ltd v/s DCIT reported in 37 SOT 1 where in it was held as under: During the course of hearing of this appeal, neither the ld. counsel for the assessee nor the ld. D.R. for the revenue have been able to point out any basis or material or criteria to controvert or to rebut the findings and conclusion arrived at by the ld. CIT(A) except by relying upon their respective stand taken bef…

GIESECKE & DEVRIENT INDIA PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

ITA 5924/DEL/2012[2008-09]Status: DisposedITAT Delhi23 Aug 2018AY 2008-09

Bench: Shri Pramod Kumar & Shri Sudhanshu Srivastava

Section 143(3)Section 144C

…India (P.) Ltd. [IT Appeal No. 1170 (Bang.) of 2011] xi. Calsonic Kansel Motherson Products Ltd. vs DCIT [2016] 72 taxmann.com 109 (Delhi - Trib.) xii. Fiat India (P.) Ltd. [IT Appeal No. 1848 (Mum.) of 2009] xiii. Global Vantedge (P.) Ltd. v. Dy. CIT [2010] 37 SOT 1 (Delhi). 87 xiv. Tasty Bite Eatables Ltd. vs ACIT [2015] 59 taxmann.com 437 (Pune - Trib.) 3.6.3 Further, the Ld. Counsel fairly accepted out that the issue of allowability of capacity adjustment was decided against the assessee in earlier assessment year by the co-ordinate Bench of this Tribunal vide order dated 15.03.2013. He submitted that th…

DEPUTY COMMISSIONER OF INCOME-TAX vs. BAG ELECTRONICS (INDIA) PVT. LTD.,, PUNE

In the result, the appeal of the Revenue is dismissed

ITA 1550/PUN/2016[2010-11]Status: DisposedITAT Pune06 Jun 2018AY 2010-11

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1545/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2008-09 वष"

For Appellant: Shri C.H. NaniwadekarFor Respondent: Shri Sanjeev Ghei
Section 10BSection 115JSection 143(3)Section 28Section 32(2)Section 72

…पुणे "यायपीठ "यायपीठ "यायपीठ “बी "यायपीठ पुणे म"म"म"म" आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, पुणे अिधकरण पुणे पुणे बी बी” पुणे बी पुणे पुणे IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE "ी "ी डी "ी "ी डी. क"णाकरा क"णाकरा क"णाकरा राव क"णाकरा लेखा सद"य सद"य सद"य सद"य डी डी राव राव , लेखा राव लेखा लेखा एवं "ी "ी "ी िवकास "ी िवकास अव"थी अव"थी अव"थी, "याियक अव"थी "याियक "याियक सद"य "याियक सद"य सद"य केकेकेके सम" सद"य सम" सम" सम" एवं एवं एवं िवकास िवकास BEFORE SHRI D.KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / ITA No.1545/PUN/20…

INCOME-TAX OFFICER vs. SAFE PRO PACK LTD.,, PUNE

In the result, the appeal of the Revenue is dismissed

ITA 1545/PUN/2016[2008-09]Status: DisposedITAT Pune06 Jun 2018AY 2008-09

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1545/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2008-09 वष"

For Appellant: Shri C.H. NaniwadekarFor Respondent: Shri Sanjeev Ghei
Section 10BSection 115JSection 143(3)Section 28Section 32(2)Section 72

…पुणे "यायपीठ "यायपीठ "यायपीठ “बी "यायपीठ पुणे म"म"म"म" आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, पुणे अिधकरण पुणे पुणे बी बी” पुणे बी पुणे पुणे IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE "ी "ी डी "ी "ी डी. क"णाकरा क"णाकरा क"णाकरा राव क"णाकरा लेखा सद"य सद"य सद"य सद"य डी डी राव राव , लेखा राव लेखा लेखा एवं "ी "ी "ी िवकास "ी िवकास अव"थी अव"थी अव"थी, "याियक अव"थी "याियक "याियक सद"य "याियक सद"य सद"य केकेकेके सम" सद"य सम" सम" सम" एवं एवं एवं िवकास िवकास BEFORE SHRI D.KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / ITA No.1545/PUN/20…

ITO 24(1)(2), MUMBAI vs. ANUSHREE V. KHETAN, MUMBAI

In the result, the issue stands remitted to the file of the assessing officer

ITA 4975/MUM/2016[2006-07]Status: DisposedITAT Mumbai01 Jun 2018AY 2006-07

Bench: Shri Shamim Yahya, Am & Shri Pawan Sing, Jm आयकर अपील सं./I.T.A. No. 4975/Mum/2016 ("नधा"रण वष" / Assessment Year: 2006-07) The Ito-24(1)(2) Smt. Anushree V. Khetan बनाम/ 2Nd Floor, Khetan Bhavan, 605, Piramal Chambers, Lalbaug, Mumbai-400 012 78, J. B. Nagar, Andheri (E), Vs. Mumbai-400 049 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aocpk 8810 J (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Ram Tiwari ""यथ" क" ओर से/Respondent By : Shri Rakesh Joshi

For Appellant: Shri Ram TiwariFor Respondent: Shri Rakesh Joshi
Section 142(1)Section 143(3)Section 147Section 148Section 2(22)(e)

…tiary value to prove that the transaction between the company and the assessee was a trade transaction. 16. We also note that the ld. Counsel of the assessee has submitted case law from the ITAT in the case of ITO vs. Sagar Sahil Investment (P.) Ltd. [2010] 37 SOT 1 (Mumbai)(URO) for the proposition that if the assessee became registered shareholder subsequent to the event of loan, section 2(22)(e) would not be involved. We find that the above case law is not applicable in view of the Hon’ble Apex Court decision relied upon by the assessing officer in the case of Miss P. Sarada vs. CIT [1998] 229 ITR 444 (SC)…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. VISTEON ENGG. CENTER (I) PVT. LTD.,, PUNE

Accordingly, the appeal of Revenue is dismissed

ITA 540/PUN/2015[2010-11]Status: DisposedITAT Pune28 May 2018AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Ketan Ved & Ms. Nupoor ShahFor Respondent: Smt. Nirupama Kotru
Section 143(3)

…Pvt. Ltd. Vs. DCIT in ITA No. 1412/PN/2011 (Pune-Trib.); iv. ACIT Vs. Fiat India Private Limited in ITA No. 1848/Mum/2009 (Mum.-Trib.); v. Transwitch India Private Limited Vs. DCIT in ITA No. 6083/Del/2010 (Del.-Trib.); vi. Global Vantedge (P) Ltd. Vs. DCIT, 37 SOT 1 (Delhi). 7 ITA Nos. 316 & 540/PUN/2015, A.Y. 2010-11 4.1 The ld. AR contended that the alternate method for providing risk adjustment is through the margins of comparable companies. To support this method, the ld. AR placed reliance on the following decisions : i. Tasty Bite Eatables Ltd. Vs. DCIT in ITA No. 1682/PN/2011 (Pune- Trib.); ii. DCIT V…

VISTEON ENGINEERING CENTER (INDIA) PRIVATE LTD.,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

Accordingly, the appeal of Revenue is dismissed

ITA 316/PUN/2015[2010-11]Status: DisposedITAT Pune28 May 2018AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Ketan Ved & Ms. Nupoor ShahFor Respondent: Smt. Nirupama Kotru
Section 143(3)

…Pvt. Ltd. Vs. DCIT in ITA No. 1412/PN/2011 (Pune-Trib.); iv. ACIT Vs. Fiat India Private Limited in ITA No. 1848/Mum/2009 (Mum.-Trib.); v. Transwitch India Private Limited Vs. DCIT in ITA No. 6083/Del/2010 (Del.-Trib.); vi. Global Vantedge (P) Ltd. Vs. DCIT, 37 SOT 1 (Delhi). 7 ITA Nos. 316 & 540/PUN/2015, A.Y. 2010-11 4.1 The ld. AR contended that the alternate method for providing risk adjustment is through the margins of comparable companies. To support this method, the ld. AR placed reliance on the following decisions : i. Tasty Bite Eatables Ltd. Vs. DCIT in ITA No. 1682/PN/2011 (Pune- Trib.); ii. DCIT V…

PANGEA3 LEGAL DATABASE SYSTEMS P.LD,MUMBAI vs. ITO WD 3(2)(4), MUMBAI

In the result, the appeal of the assessee is partly allowed for statistical purposes, whereas the appeal of the Revenue is dismissed

ITA 2128/MUM/2014[2009-10]Status: DisposedITAT Mumbai06 Mar 2017AY 2009-10

Bench: Shri Amit Shukla & Shri Manoj Kumar Aggarwalassessment Year: 2009-10

For Appellant: Shri Rajan Vora, &For Respondent: Mrs. Malathi Shridharan, CIT DR
Section 143(3)Section 144C(5)

…dated 23 July 2012; (v) ACIT vs Fiat India Private Limited (ITA No.1848/Mum/2009) (Mum) dated 30 April 2010; (vi) Transwitch India Private Limited Vs. DCIT ( ITA No. 6083 / Del/ 2010) (Delhi) dated 30 March 2012; (vii) Global Vantedge (P) Ltd. vs DCIT (2010 37 SOT 1) (Delhi) 17. Without prejudice, Mr. Vora submitted that assuming if the adjustment is to be made on the margins of the comparables, then in ITA Nos.2128 & 1958/M/2014 21 Pangea3 & Legal Database Systems Pvt. Ltd. majority of the comparables (i.e., 10 comparables) it was not possible to identify the amount of forex loss/gain as it has not been spec…

ITO 3(2)(4), MUMBAI vs. PANGEA 3 LEGAL DATA BASE SYSTEMS P.LTD, MUMBAI

In the result, the appeal of the assessee is partly allowed for statistical purposes, whereas the appeal of the Revenue is dismissed

ITA 1958/MUM/2014[2009-10]Status: DisposedITAT Mumbai06 Mar 2017AY 2009-10

Bench: Shri Amit Shukla & Shri Manoj Kumar Aggarwalassessment Year: 2009-10

For Appellant: Shri Rajan Vora, &For Respondent: Mrs. Malathi Shridharan, CIT DR
Section 143(3)Section 144C(5)

…dated 23 July 2012; (v) ACIT vs Fiat India Private Limited (ITA No.1848/Mum/2009) (Mum) dated 30 April 2010; (vi) Transwitch India Private Limited Vs. DCIT ( ITA No. 6083 / Del/ 2010) (Delhi) dated 30 March 2012; (vii) Global Vantedge (P) Ltd. vs DCIT (2010 37 SOT 1) (Delhi) 17. Without prejudice, Mr. Vora submitted that assuming if the adjustment is to be made on the margins of the comparables, then in ITA Nos.2128 & 1958/M/2014 21 Pangea3 & Legal Database Systems Pvt. Ltd. majority of the comparables (i.e., 10 comparables) it was not possible to identify the amount of forex loss/gain as it has not been spec…

E.I. DUPONT INDIA PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

ITA 4774/DEL/2014[2007-08]Status: DisposedITAT Delhi20 May 2016AY 2007-08
For Appellant: Shri Ajit Tolani, AdvFor Respondent: S/Shri Anand Kumar Kedia &

…B (specifically 10B(3) read with Rule 10B(1)(e)).  Assessee places reliance on the judgment in the case of (i) DCIT vs Vertex Customer Services India (P) Ltd. [ITA No 1506/Del/2008], (ii) Global Vantedge (P) Ltd. vs DCIT [ITA nos. 2763 & 2764/Del/2009] [2010 37 SOT 1], (iii) Skoda Auto India (P) Ltd. vs ACIT [2009 30 SOT 319], (iv) Haworth India Pvt Limited vs. DCIT [11 ITR (Trib.)757 (Del.)], (v) Geodis Overseas P. Ltd. vs. DCIT (14 ITR (Trib.) 325) and (vi) Petro Araldite [99 DTR 235].  The Ld. TPO as well as CIT(A) have mentioned in the order that the company bears various risks including market risk and env…