(India) (P.) Ltd. v. ITO

87 Taxmann.com 251High Court2017#4743 most cited

What is (India) (P.) Ltd. v. ITO authority for?

Interest on outstanding receivables arising during business is considered an international transaction under the definition of 'capital financing'.

25

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2019 to 2025.

Also referred to as

BT e-Serv (India) Private Limited v. ITO · 87 taxmann.com 251 · Section 92B(1) · Section 92F · interest on outstanding receivables · capital financing · international transaction · overdue outstanding

Sections most often in play

Section 143(3)Section 10AASection 10CSection 10DSection 144BSection 144C(13)Section 144C(2)Section 250

Issues it is cited on

section 92f(v)section 144c(2)convertible foreign exchangesection 92b(1)interest on outstanding receivablessafe harbour rulesworking capital adjustmentsafe harbourr&d expendituresection 92fsection 144c(3)comparable companies

Judgments citing (India) (P.) Ltd. v. ITO

M/S. Indeca Sporting Goods Private Limited, Bangalore vs. Assistant Commissioner of Income-Tax, Bangalore

In the result, appeal of the assessee is partly allowed

ITA 445/BANG/2017[2012-13]Status: DisposedITAT Bangalore16 Oct 2019AY 2012-13

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.445/Bang/2017 Assessment Year : 2012-13 M/S. Indeca Sporting Goods Pvt. Ltd., Vs. Assistant Commissioner Of No.20, 2Nd Floor, Uniworth Plaza, Income-Tax, Sankey Road, Circle – 3(1)(1), Bengaluru – 560 020. Bengaluru. Pan : Aabci 5081 P Appellant Respondent Assessee By : Shri. T. Sanjay Mehta, Ca Revenue By : Shri. Pradeep Kumar, Cit-Dr(Itat)(Bengaluru) Date Of Hearing : 09.10.2019 Date Of Pronouncement : 16.10.2019 O R D E R

For Appellant: Shri. T. Sanjay Mehta, CAFor Respondent: Shri. Pradeep Kumar, CIT-DR(ITAT)(Bengaluru)
Section 143(3)Section 271(1)(c)Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER IT(TP)A No.445/Bang/2017 Assessment year : 2012-13 M/s. Indeca Sporting Goods Pvt. Ltd., Vs. Assistant Commissioner of No.20, 2nd Floor, Uniworth Plaza, Income-tax, Sankey Road, Circle – 3(1)(1), Bengaluru – 560 020. Bengaluru. PAN : AABCI 5081 P APPELLANT RESPONDENT Assessee by : Shri. T. Sanjay Mehta, CA Revenue by : Shri. Pradeep Kumar, CIT-DR(ITAT)(Bengaluru) Date of hearing : 09.10.2019 Date of Pronouncement : 16.10.2019 O R D E R Per N. V. Vasudevan, Vice Presid…

Arctern Consulting Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, appeal of the assessee is partly allowed

ITA 352/BANG/2017[2012-13]Status: DisposedITAT Bangalore11 Oct 2019AY 2012-13

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.352/Bang/2017 Assessment Year : 2012-13 M/S. Arctern Consulting Pvt. Ltd., Vs. Deputy Commissioner Of Embassy Tech Village, Income-Tax, Tower 2B Hibiscus, 5Th Floor, Circle – 1(1)(2), Deverabeesanahalli, Bengaluru. Bengaluru – 560 037. Pan : Aaeca 9113 F Appellant Respondent Assessee By : Shri. T. Suryanarayana, Advocate Revenue By : Shri. Pradeep Kumar, Cit-Dr(Itat)(Bengaluru) Date Of Hearing : 09.10.2019 Date Of Pronouncement : 15.10.2019 O R D E R

For Appellant: Shri. T. Suryanarayana, AdvocateFor Respondent: Shri. Pradeep Kumar, CIT-DR(ITAT)(Bengaluru)
Section 10ASection 143(3)Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER IT(TP)A No.352/Bang/2017 Assessment year : 2012-13 M/s. Arctern Consulting Pvt. Ltd., Vs. Deputy Commissioner of Embassy Tech Village, Income-tax, Tower 2B Hibiscus, 5th Floor, Circle – 1(1)(2), Deverabeesanahalli, Bengaluru. Bengaluru – 560 037. PAN : AAECA 9113 F APPELLANT RESPONDENT Assessee by : Shri. T. Suryanarayana, Advocate Revenue by : Shri. Pradeep Kumar, CIT-DR(ITAT)(Bengaluru) Date of hearing : 09.10.2019 Date of Pronouncement : 15.10.2019 O R D E R Per N.…

Gts E-Services P.Ltd, Mumbai vs. ITO 15(1)(4), Mumbai

The appeal stands partly allowed

ITA 1231/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 Jul 2019AY 2012-13

Bench: Hon’Ble Shri Pawan Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.1231/Mum/2017 (िनधा"रण वष" / Assessment Year: 2012-13) Gts E-Services Private Ltd. Income Tax Officer-15(1)(4) 103, A-Wing Kensinton Room No.15B, Ground Floor बनाम/ Hiranandani Business Park Aaykar Bhavan, M.K. Road Vs. Hiranandani Builder Sez Mumbai-400 020. Powai, Mumbai-400 076. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaccg-8662-R (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee By : Shri Nilesh Patel- Ld. Ar Revenue By : Shri V.K. Agarwal – Addl. Cit-Ld. Dr सुनवाई की तारीख/ : 26/06/2019 Date Of Hearing घोषणा की तारीख / : 03/07/2019 Date Of Pronouncement आदेश / O R D E R

For Appellant: Shri Nilesh Patel- Ld. ARFor Respondent: Shri V.K. Agarwal – Addl. CIT-Ld. DR
Section 115JSection 143(3)Section 144C(5)Section 92C

…1 GTS e-Services Private Limited Assessment Year :2012-13 आयकर अपीलीय अिधकरण “के” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI माननीय "ी पवन िसंह, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI PAWAN SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ I.T.A. No.1231/Mum/2017 (िनधा"रण वष" / Assessment Year: 2012-13) GTS e-Services Private Ltd. Income tax Officer-15(1)(4) 103, A-Wing Kensinton Room No.15B, Ground Floor बनाम/ Hiranandani Business Park Aaykar Bhavan, M.K. Road Vs. Hiranandani Builder SEZ Mumbai-400 020. Powai, Mumbai-400 076.…

M/S.Zyme Solutions Private Limited, Bangalore vs. Assistant Commissioner of Income-Tax, Bangalore

In the result, the TPO is directed to compute ALP in accordance with the directions in this order apart from the directions contained in the earlier order passed by the Tribunal

ITA 1661/BANG/2016[2012-13]Status: DisposedITAT Bangalore28 Jun 2019AY 2012-13

Bench: Shri N.V. Vasudevan & Shri B.R.Baskaran

For Respondent: Shri Arun Kumar CIT (DR)
Section 143(3)Section 144CSection 254(2)Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R.BASKARAN, ACCOUNTANT MEMBER IT(TP)A No.1661/Bang/2016 Assessment year : 2012-13 M/s Zyme Solutions Pvt. Ltd., Vs. The Asst. Commissioner of No.459, Laksha Towers, Ashoka Pillar Income-tax, Road, 2nd Block, Jayanagar, Circle-7(1)(2), Bengaluru-560 011. Bengaluru. PAN : AAACZ 2465R APPELLANT RESPONDENT Applicant by : Shri Padamchand Khincha, C.A Respondent by : Shri Arun Kumar CIT (DR) Date of hearing : 13.06.2019 Date of Pronouncement : 28.06.2019 O R D E R Per N.V. Vasudevan, Vice President Thi…

Opex Text Technologies India Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-16(2), Hyderabad

In the result, assessee’s appeal is partly allowed

ITA 2071/HYD/2017[2013-14]Status: DisposedITAT Hyderabad03 May 2019AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2013-14 Open Text Technologies Vs. Dcit, India Private Limited, Circle-16(2), Hyderabad. It Towers, A.C. Guards, Pan: Aabcv 9961 D Hyderabad-500 004. (Appellant) (Respondent) Assessee By: Smt. Suvibha Nolkha Revenue By: Sri Y.V.S.T. Sai, Cit-Dr Date Of Hearing: 02/04/2019 Date Of Pronouncement: 03/05/2019 Order Per Smt. P. Madhavi Devi, J.M.:

For Appellant: Smt. Suvibha NolkhaFor Respondent: Sri Y.V.S.T. Sai, CIT-DR
Section 10ASection 143(3)Section 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2013-14 Open Text Technologies Vs. DCIT, India Private Limited, Circle-16(2), Hyderabad. IT Towers, A.C. Guards, PAN: AABCV 9961 D Hyderabad-500 004. (Appellant) (Respondent) Assessee by: Smt. Suvibha Nolkha Revenue by: Sri Y.V.S.T. Sai, CIT-DR Date of hearing: 02/04/2019 Date of pronouncement: 03/05/2019 ORDER PER Smt. P. Madhavi Devi, J.M.: This appeal filed by the assessee is against the final assessment order of the A.O. dated 09/10/201…