Knorr-Bremse India (P.) Ltd. v. ACIT

56 SOT 349Income Tax Appellate Tribunal2013#7648 most cited
15

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2019.

Judgments citing Knorr-Bremse India (P.) Ltd. v. ACIT

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

ITA 192/KOL/2018[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14  Delhi High Court in case of CIT Vs. Cotton Naturals (I) Pvt. Ltd. [276 CTR 475]  ITAT (Ahmedabad) in case of Micro Links Ltd.[157 TTJ 289]  ITAT(Delhi) in case of Knorr Bremse India Pvt. Ltd. [56 SOT 349] 4.3.1 Without prejudice to the above, if at all we consider the loan transaction to be an 'international transaction', even then the ALP of 14.41% arrived at by the AO is arbitrary and hence cannot be adopted. The AO in computing the ALP has considered the average cost of borrowed funds to the assessee domestic interest rates and added a spread…

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

ITA 191/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14  Delhi High Court in case of CIT Vs. Cotton Naturals (I) Pvt. Ltd. [276 CTR 475]  ITAT (Ahmedabad) in case of Micro Links Ltd.[157 TTJ 289]  ITAT(Delhi) in case of Knorr Bremse India Pvt. Ltd. [56 SOT 349] 4.3.1 Without prejudice to the above, if at all we consider the loan transaction to be an 'international transaction', even then the ALP of 14.41% arrived at by the AO is arbitrary and hence cannot be adopted. The AO in computing the ALP has considered the average cost of borrowed funds to the assessee domestic interest rates and added a spread…

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

ITA 139/KOL/2018[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14  Delhi High Court in case of CIT Vs. Cotton Naturals (I) Pvt. Ltd. [276 CTR 475]  ITAT (Ahmedabad) in case of Micro Links Ltd.[157 TTJ 289]  ITAT(Delhi) in case of Knorr Bremse India Pvt. Ltd. [56 SOT 349] 4.3.1 Without prejudice to the above, if at all we consider the loan transaction to be an 'international transaction', even then the ALP of 14.41% arrived at by the AO is arbitrary and hence cannot be adopted. The AO in computing the ALP has considered the average cost of borrowed funds to the assessee domestic interest rates and added a spread…

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

ITA 138/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14  Delhi High Court in case of CIT Vs. Cotton Naturals (I) Pvt. Ltd. [276 CTR 475]  ITAT (Ahmedabad) in case of Micro Links Ltd.[157 TTJ 289]  ITAT(Delhi) in case of Knorr Bremse India Pvt. Ltd. [56 SOT 349] 4.3.1 Without prejudice to the above, if at all we consider the loan transaction to be an 'international transaction', even then the ALP of 14.41% arrived at by the AO is arbitrary and hence cannot be adopted. The AO in computing the ALP has considered the average cost of borrowed funds to the assessee domestic interest rates and added a spread…

REHAU POLYMERS PVT. LTD.,,PUNE vs. ASISTANT COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the assessee is allowed

ITA 519/PUN/2014[2009-10]Status: DisposedITAT Pune05 Mar 2018AY 2009-10

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No. 519/Pun/2014 "नधा"रण वष" / Assessment Year : 2009-10

For Appellant: Shri Nikhil Pathak
Section 143(3)

…of his submission placed reliance on the following decision:- (i) Cranes Software International Ltd. Vs. Dy. CIT, 152 ITD 737 (Bang-Trib) (ii) Deloitte Consulting India (P) Ltd. Vs. Dy. CIT, 137 ITD 21 (Mum-Trib) (iii) Knorr Bremse India Ltd. Vs. Asst. CIT, 56 SOT 349, (Delhi-Trib) 8. The ld. AR controverting the submissions made on behalf of Department submitted that the TPO erred in applying CUP without selecting suitable comparables. Further, there is no duplication of services as has been alleged by the Revenue. The assessee is receiving these services as part of intra group service agreement and the as…

M/S. VOLVO INDIA PVT. LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal filed by the assessee is partly allowed

ITA 1353/BANG/2010[2006-07]Status: DisposedITAT Bangalore11 Dec 2017AY 2006-07

Bench: Shri Inturi Rama Rao & Shri Lalit Kumarm/S.Volvo India Private Limited, Yalachahally Village, Tavarakere Post, Hoskote, Bangalore – 562 122. Pan: Aaacv 6747N … Appellant Vs. The Deputy Commissioner Of Income Tax, Ltu, … Respondent

For Appellant: Shri Neeraj Jain, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)
Section 10ASection 143(3)Section 234CSection 234DSection 92C

…IT Appeal No. 5931 (Delhi) of 2012] xi. Nippon Leakless Talbros v. ACIT [IT(TP) Appeal No. 475 (Delhi) of 2015] xii. Hughes Systique India (P.) Ltd. v. Asstt. CIT [2013] 36 taxmann.com 41 (Delhi - Trib.) xiii. Knorr-Bremse India (P.) Ltd. v. Asstt. CIT [2013] 56 SOT 349/[2012] 27 taxmann.com 16 Page 22 (Delhi - Trib.) xiv. Thyssen Krupp Industries India (P.) Ltd. v. Asstt. CIT [2013] 55 SOT 497/[2012] 27 taxmann.com 334 (Mum. - Trib.) xv. LG Polymers India (P.) Ltd. v. Addl. CIT [2011] 48 SOT 269/15 taxmann.com 79 (Visakha). 12. Thus in the light of the above legal position, the ALP of services of AE cannot be d…

ITO, BANGALORE vs. M/S SAFRAN ENGINEERING SERVICES INDIA PRIVATE LIMITED, BANGALORE

In the result, the appeal filed by the revenue is partly allowed

ITA 451/BANG/2015[2010-11]Status: DisposedITAT Bangalore20 Nov 2017AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoit(Tp)A No.451/Bang/2015 (Assessment Year: 2010-11)

For Appellant: Ms.Neera Malhaotra, CIT(DR)For Respondent: Shri K.R.Vasudevan, Advocate
Section 10ASection 143(3)Section 92C

…IT Appeal No. 5931 (Delhi) of 2012] xi. Nippon Leakless Talbros v. ACIT [IT(TP) Appeal No. 475 (Delhi) of 2015] xii. Hughes Systique India (P.) Ltd. v. Asstt. CIT [2013] 36 taxmann.com 41 (Delhi - Trib.) xiii. Knorr-Bremse India (P.) Ltd. v. Asstt. CIT [2013] 56 SOT 349/[2012] 27 taxmann.com 16 (Delhi - Trib.) xiv. Thyssen Krupp Industries India (P.) Ltd. v. Asstt. CIT [2013] 55 SOT 497/[2012] 27 taxmann.com 334 (Mum. - Trib.) xv. LG Polymers India (P.) Ltd. v. Addl. CIT [2011] 48 SOT 269/15 taxmann.com 79 (Visakha). 12. Thus in the light of the above legal position, the ALP of services of AE cannot be determine…

DCIT, CHENNAI vs. FLAKT (INDIA) LTD., CHENNAI

In the result, the appeal filed by the Revenue is dismissed

ITA 1032/CHNY/2014[2009-10]Status: DisposedITAT Chennai09 Jun 2016AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1032/Mds/2014 "नधा"रण वष" / Assessment Year : 2009-10

For Appellant: Smt. Vijayalakshmi, CITFor Respondent: Shri Kapil Hirani, CA

…those group members do not need activity / service. According to the Ld. D.R., the Transfer Pricing Officer has rightly disallowed 25% of the payment. The Ld. D.R. has also placed her reliance on the Delhi Bench of this Tribunal in Knorr Bremse India Ltd. (56 SOT 349). 4. On the contrary, Shri Kapil Hirani, the Ld. representative for the assessee, submitted that the services rendered by the Associate Enterprise to the assessee-company is not in dispute. In fact, this was accepted by the Transfer Pricing Officer and the Dispute Resolution Panel. The only dispute is with regard to adoption of most appropriate m…

ACIT, BANGALORE vs. 3M INDIA LIMITED, BANGALORE

In the result, both the appeals filed by the assessee- company as well as the revenue are partly allowed for statistical purposes

ITA 727/BANG/2011[2005-06]Status: DisposedITAT Bangalore13 May 2016AY 2005-06

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri Mukesh Bhutani, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)
Section 143(1)Section 143(2)Section 92C

….A. No. 5931/Del/2012 – AY 2008-09 xi. Nippon Leakless Talbros v. ACIT: IT(TP)A No. 475/Del/2015 – AY 2010-11 xii. Hughes Systique India P. Ltd. v. ACIT: [2013] 25 ITR (Trib) 556 (Delhi) - AY 2007-08, 2008-09 xiii. Knorr-Bremse India (P.) Ltd. v. ACIT: [2013] 56 SOT 349 (Delhi) - AY 2007-08 xiv. Thyssen Krupp Industries India (P.) Ltd. v. ACIT: [2013] 55 SOT 497 (Mumbai) - AY 2007- 08 xv. LG Polymers India P. Ltd. v. ACIT: [2012] 16 ITR (Trib) 240 – AY 2006-07 Thus, in the light of above legal position, though ALP of services by AE cannot be determined at ‘nil’ by questioning the necessity, the benefits of expen…

3M INDIA LIMITED,BANGALORE vs. ADDL.C.I.T., BANGALORE

In the result, both the appeals filed by the assessee- company as well as the revenue are partly allowed for statistical purposes

ITA 725/BANG/2011[2005-06]Status: DisposedITAT Bangalore13 May 2016AY 2005-06

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri Mukesh Bhutani, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)
Section 143(1)Section 143(2)Section 92C

….A. No. 5931/Del/2012 – AY 2008-09 xi. Nippon Leakless Talbros v. ACIT: IT(TP)A No. 475/Del/2015 – AY 2010-11 xii. Hughes Systique India P. Ltd. v. ACIT: [2013] 25 ITR (Trib) 556 (Delhi) - AY 2007-08, 2008-09 xiii. Knorr-Bremse India (P.) Ltd. v. ACIT: [2013] 56 SOT 349 (Delhi) - AY 2007-08 xiv. Thyssen Krupp Industries India (P.) Ltd. v. ACIT: [2013] 55 SOT 497 (Mumbai) - AY 2007- 08 xv. LG Polymers India P. Ltd. v. ACIT: [2012] 16 ITR (Trib) 240 – AY 2006-07 Thus, in the light of above legal position, though ALP of services by AE cannot be determined at ‘nil’ by questioning the necessity, the benefits of expen…

GE MONEY FINANCIAL SERVICES PVT. LTD.,DELHI vs. DCIT, NEW DELHI

In the result ground, no

ITA 6282/DEL/2012[2008-09]Status: DisposedITAT Delhi02 May 2016AY 2008-09

Bench: Shri A.T.Varkey & Shri Prashant Maharishi

For Appellant: Sh. Sachit Jolly, AdvFor Respondent: Sh. Amendra Kumar, CIT DR
Section 143(3)Section 144Section 144CSection 144C(5)Section 32Section 36(1)(vii)Section 36(2)Section 92C

….A. No. 5931/Del/2012 – AY 2008-09 xi. Nippon Leakless Talbros v. ACIT: IT(TP)A No. 475/Del/2015 – AY 2010-11 xii. Hughes Systique India P. Ltd. v. ACIT: [2013] 25 ITR (Trib) 556 (Delhi) - AY 2007-08, 2008-09 xiii. Knorr-Bremse India (P.) Ltd. v. ACIT: [2013] 56 SOT 349 (Delhi) - AY 2007-08 xiv. Thyssen Krupp Industries India (P.) Ltd. v. ACIT: [2013] 55 SOT 497 (Mumbai) - AY 2007-08 xv. LG Polymers India P. Ltd. v. ACIT: [2012] 16 ITR (Trib) 240 – AY 2006-07 v. He submitted that assessee had availed services from GE Capital Finance Inc., USA ("GECF Inc") under a Master Service Agreement ("MSA") and Information T…

GE MONEY FINANCIAL SERVICES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result ground, no

ITA 5882/DEL/2010[2006-07]Status: DisposedITAT Delhi02 May 2016AY 2006-07

Bench: Shri A.T.Varkey & Shri Prashant Maharishi

For Appellant: Sh. Sachit Jolly, AdvFor Respondent: Sh. Amendra Kumar, CIT DR
Section 143(3)Section 144Section 144CSection 144C(5)Section 32Section 36(1)(vii)Section 36(2)Section 92C

….A. No. 5931/Del/2012 – AY 2008-09 xi. Nippon Leakless Talbros v. ACIT: IT(TP)A No. 475/Del/2015 – AY 2010-11 xii. Hughes Systique India P. Ltd. v. ACIT: [2013] 25 ITR (Trib) 556 (Delhi) - AY 2007-08, 2008-09 xiii. Knorr-Bremse India (P.) Ltd. v. ACIT: [2013] 56 SOT 349 (Delhi) - AY 2007-08 xiv. Thyssen Krupp Industries India (P.) Ltd. v. ACIT: [2013] 55 SOT 497 (Mumbai) - AY 2007-08 xv. LG Polymers India P. Ltd. v. ACIT: [2012] 16 ITR (Trib) 240 – AY 2006-07 v. He submitted that assessee had availed services from GE Capital Finance Inc., USA ("GECF Inc") under a Master Service Agreement ("MSA") and Information T…

MERCK LTD,MUMBAI vs. DCIT 7(2)(1), MUMBAI

In the result, the appeal of the Assessing Officer for the assessment year

ITA 1222/MUM/2015[2009-10]Status: DisposedITAT Mumbai31 Mar 2016AY 2009-10
Section 133(6)Section 143(3)

…een upheld by the Hon'ble ITAT in the following cases:. (a) Deloitte Consulting India Pvt. Ltd. vs. DCIT(2012) 137 ITD 21 (Mumbai) (b) Gem Plus India Pvt. Ltd. vs. Asst. CIT-IT No.352/Bang/2009, dt.21/10/2010 (c) Knorr Bremse India (P) Ltd. vs. AC1T (2013} 56 SOT 349 (Delhi) 4.14 In view of the above observations, the decision of the TPO/AO to determine the ALP of the transaction in/question at nil with consequential adjustment is upheld and confirmed.” 22. As regards the assessment year 2010-11, things are not materially different either. The Transfer Pricing Officer adopted the same approach in this year as…

DCIT CIR 7(2)(1), MUMBAI vs. MERCK LTD, MUMBAI

In the result, the appeal of the Assessing Officer for the assessment year

ITA 1172/MUM/2015[2010-11]Status: DisposedITAT Mumbai31 Mar 2016AY 2010-11
Section 133(6)Section 143(3)

…een upheld by the Hon'ble ITAT in the following cases:. (a) Deloitte Consulting India Pvt. Ltd. vs. DCIT(2012) 137 ITD 21 (Mumbai) (b) Gem Plus India Pvt. Ltd. vs. Asst. CIT-IT No.352/Bang/2009, dt.21/10/2010 (c) Knorr Bremse India (P) Ltd. vs. AC1T (2013} 56 SOT 349 (Delhi) 4.14 In view of the above observations, the decision of the TPO/AO to determine the ALP of the transaction in/question at nil with consequential adjustment is upheld and confirmed.” 22. As regards the assessment year 2010-11, things are not materially different either. The Transfer Pricing Officer adopted the same approach in this year as…

MERCK LTD,MUMBAI vs. DCIT RG 6(3), MUMBAI

In the result, the appeal of the Assessing Officer for the assessment year

ITA 1946/MUM/2014[2009-10]Status: DisposedITAT Mumbai31 Mar 2016AY 2009-10
Section 133(6)Section 143(3)

…een upheld by the Hon'ble ITAT in the following cases:. (a) Deloitte Consulting India Pvt. Ltd. vs. DCIT(2012) 137 ITD 21 (Mumbai) (b) Gem Plus India Pvt. Ltd. vs. Asst. CIT-IT No.352/Bang/2009, dt.21/10/2010 (c) Knorr Bremse India (P) Ltd. vs. AC1T (2013} 56 SOT 349 (Delhi) 4.14 In view of the above observations, the decision of the TPO/AO to determine the ALP of the transaction in/question at nil with consequential adjustment is upheld and confirmed.” 22. As regards the assessment year 2010-11, things are not materially different either. The Transfer Pricing Officer adopted the same approach in this year as…