Mentor Graphics (Noida) (P) Ltd. v. DCIT

109 ITD 101Income Tax Appellate Tribunal2007#1345 most cited

What is Mentor Graphics (Noida) (P) Ltd. v. DCIT authority for?

A working capital adjustment is mandated and a prerequisite for correctly determining the Arm's Length Price (ALP) under Rule 10B(1)(e) and Rule 10B(3) of the Income Tax Rules, 1962. This adjustment accounts for differences in working capital and outstanding receivables between the assessee and comparable companies.

85

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2026.

Also referred to as

Mentor Graphics (Noida) (P) Ltd. v. DCIT · 109 ITD 101 · ITAT 2007 · transfer pricing adjustment · working capital adjustment · arm's length price · Rule 10B(3) · Section 92B · comparable companies · outstanding receivables

Sections most often in play

Section 143(3)Section 144BSection 144C(13)Section 92CA(3)Section 92BSection 10B(3)Section 144C(5)Section 234C

Issues it is cited on

interest on outstanding receivablesworking capital adjustmenttested partycomparable companiesbenchmarking analysissection 92bmost appropriate methodarm's length pricetransfer pricing adjustmentsection 144c(13)tnmmdirections of the drp

Judgments citing Mentor Graphics (Noida) (P) Ltd. v. DCIT

Information System Resource Centre P.Ltd, Mumbai vs. DCIT 2(2), Mumbai

In the result, appeal filed by the assessee is treated as allowed for statistical purposes

ITA 3712/MUM/2016[2010-11]Status: DisposedITAT Mumbai22 May 2018AY 2010-11

Bench: Shri B.R. Baskaran (Am) & Shri Ramlal Negi (Jm)

Section 115JSection 92B(1)

…THE INCOME TAX APPELLATE TRIBUNAL “K” Bench, Mumbai Before Shri B.R. Baskaran (AM) & Shri Ramlal Negi (JM) I.T.A. No. 3712/Mum/2016 (Assessment Year 2010-11) M/s. Information System ACIT Circle- Vs. Resource Centre Pvt. Ltd. 2(2)(1) (Now amalgamated with Larsen Aayakar Bhavan & Toubro Infotech Ltd.) M.K. Road L&T Technology Centre Mumbai-400020. Gate No. 5, Saki Vihar Road Powai, Mumbai-400 072. PAN : AAACI3613G (Appellant) (Respondent) Assessee by Shri Arun Chhabra Department by Shri V. Jenardhanan Date of Hearing 22.5.2018 Date of Pronouncement 22.5.2018 O R D E R Per B.R. Baskaran (AM) : The appeal file…

DCIT, Bangalore vs. M/S Netscout Systems Software India Pvt. Ltd., Bangalore

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

ITA 1212/BANG/2011[2005-06]Status: DisposedITAT Bangalore28 Feb 2018AY 2005-06

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoit(Tp)A No.1212/Bang/2011 (Assessment Year: 2005-06) Deputy Commissioner Of Income-Tax, Circle 12(2), Bengaluru. … Appellant Vs. M/S.Netscout Systems Software India Pvt. Ltd. (Earlier Known As ‘Network General Software India Pvt. Ltd.) ‘Embassy Icon’, Ground Floor, No.3, Infantry Road, Bengaluru-1. … Respondent Pan:Aaics 0944 E & Cross Objn.No.30/Bang/2012 (In It(Tp)A No.1212/Bang/2011) (Assessment Year: 2005-06) (By The Assessee) Revenue By : Smt. Padma Meenakshi, Jcit(Dr) Assessee By : Shri Chavali Narayan, Ca

For Appellant: Shri Chavali Narayan, CAFor Respondent: Smt. Padma Meenakshi, JCIT(DR)
Section 143(3)Section 92C

…the revenue is allowed. 10. Ground No.3 challenges the finding of the ld.CIT(A) that the companies having abnormal profits should be excluded drawing support from the co-ordinate bench of Tribunal in the case of Mentor Graphics (Noida) (P.) Ltd. vs. Dy.CIT (109 ITD 101). The Special Bench of Tribunal (Chandigarh) in the case of DCIT vs. Quark Systems (P) Ltd. [TS 23-ITAT-200 (Chd) held that making super profits or losses cannot by ipse facto reason to exclude these companies from the list of comparables. Therefore, this ground of appeal of the revenue is also allowed. 11. Ground No.4 challenges the finding of…

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

…he arm's length price in accordance with the same rules. " The principle coming out of the CBDT circular above has also been implicitly brought out by the Hon'ble Income Tax Appellate Tribunal ("ITAT"), Delhi bench in Mentor Graphics (Noida) Pvt. Ltd's case (109 ITD 101). The Hon'ble ITAT has observed that: "46.2 ……..In our considered view, it is not necessary for the taxpayer to satisfy all points in the range. Even if one point is satisfied, the assessee can be taken to have established its case and in that situation, the onus is shifted to the department to show why taxpayer's case be not accepted," 39.4 ………

Exevo India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by the assessee stands allowed as discussed above

ITA 20/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Nov 2017AY 2012-13

Bench: Shri N.K.Saini & Smt. Beena A. Pillai

For Appellant: Sh. Nageshwar Rao, AdvFor Respondent: Sh. HK Chaudhary, CIT, DR
Section 143(2)Section 143(3)Section 144CSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-2’, NEW DELHI BEFORE SHRI N.K.SAINI, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER I.T.A. No.20/Del/2017 (Assessment Year: 2012-13) Exevo India Pvt. Ltd., Vs. DCIT, Ward 8(2), (Now MA KS Solutions (India) New Delhi Pvt.Ltd.) Unit No.216, Second Floor Square One C-2, District Centre Saket New Delhi 110 017 PAN :AABCE0738K (Appellant) (Respondent) Appellant by : Sh. Nageshwar Rao, Adv. Respondent by : Sh. HK Chaudhary, CIT, DR Date of hearing:27.11.2017 Date of Pronouncement: 30.11.2017 ORDER PER BEENA A. PILLAI, JM: The present appeal has been fil…

British Marine Plc-India Branch, Mumbai vs. DCIT (It) 1(3)(2)

In the result, the appeal is allowed for statistical purposes

ITA 1908/MUM/2016[2011-12]Status: DisposedITAT Mumbai27 Oct 2017AY 2011-12

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2011-12 M/S British Marine Plc- Dcit(It)-1(3)(2) India Branch Mumbai. Vs. 903, ‘C’ Wing, 215, Antrium, Next To Courtyard, Marriot, A.K. Road, Andheri (E) Mumbai-400065 Pan No. Aaaco6627Q Appellant Respondent Assessee By : Shri Jiger Saiya & Shri Darshan Dalal, Ar Revenue By : Shri V. Jenardhenan, Dr Date Of Hearing : 31/07/2017 Date Of Pronouncement : 27/10/2017

For Appellant: Shri Jiger Saiya &For Respondent: Shri V. Jenardhenan, DR
Section 143(3)Section 144CSection 92C

…ity analysis. In M/s Panasonic India Pvt. Ltd. v. ITO (2010) TII-47-ITAT-DEL-TP, aggregation of transactions are upheld where functions, assets and risks underlying those transactions are similar. (vii) Economic adjustments In Mentor Graphics (P) Ltd. v. DCIT 109 ITD 101 (Del ITAT), adjustment is permitted in (a) working capital, (b) risk and growth, (c) R & D expenses. However, it has been held that, if differences are so material that adjustment cannot be made then the company should be rejected. TNMM is more tolerant to minor functional and risk level differences. Certain significant risks like market risks, c…

ACIT, New Delhi vs. M/S. Canon India Pvt. Ltd, Gurgaon

Appeal is partly allowed for statistical purpose

ITA 4358/DEL/2009[2003-04]Status: DisposedITAT Delhi15 Jun 2017AY 2003-04

Bench: Shri N. K. Saini & Smt Suchitra Kamble

Section 36(1)Section 36(2)Section 92CSection 92F

…Graw Hill Education vs ACIT: [2016] 69 taxmann.com 418 (Trib.) " Westfalia Seperator India Pvt. Ltd. vs ACIT [2014] 165 TTJ (Delhi) 56 " Mercer Consulting (India) Pvt. Ltd. vs DCIT [2014] 150 ITD 1 (Delhi-Trib) " Mentor Graphics (Noida) Pvt Ltd vs DCIT [2007] 112 TTJ 408 (Del) " Skoda Auto India (P) Ltd vs ACIT [2009] 122 TTJ 699 (Pune) 20. As regards to Ground No. 5 relating to incorrect computation of Arm’s length price adjustment in respect of import of photocopier and fax machines, the Ld. AR submitted that the absence before the CIT(A) vide submissions dated September 10, 2009 (refer page 47 of Paper Book-I…

Swiss Re Shared Services (India) Private Limited, Bangalore vs. DCIT, Bangalore

In the result, the assessee’s appeal is allowed and the Revenue’s

ITA 1139/BANG/2011[2004-05]Status: DisposedITAT Bangalore03 May 2017AY 2004-05

Bench: Shri. Vijay Pal Rao & Shri. S. Jayaraman

For Appellant: Shri. Sampath Raghunathan, AdvocateFor Respondent: Shri. M. K. Biju, JCIT
Section 10A

…or this proposition is placed on the decision of the Mumbai Bench in the cases of Adobe Systems India P. Ltd. v. Addl.CIT [2012] 14 ITR (Trib) 84 (Delhi), ITO v. Saunay Jewels P. Ltd. [2010] 42 SOT 4 (Mum), Mentor Graphics (Noida) P. Ltd. v. Deputy CIT [2007] 109 ITD 101 (Delhi) and the case of the Income-tax Appellate Tribunal, Pune Bench in the case of E-Gain Communication P. Ltd. v. ITO [2008] 118 TTJ (Pune) 354 and Sapient Corporation P. Ltd. v. Deputy CIT [2012] 15 ITR (Trib) 285 (Delhi). 40. The Departmental representative submitted that M/s. Ultramarine Pigments Ltd. cannot be excluded from comparables. A…

M/S Arrow Electronics India Ltd., Bangalore vs. Addl.DIT, Bangalore

In the result, the assesssee’s appeals are dismissed, the appeals of the Revenue and the Cross-Objections of the assessee are also dismissed

ITA 209/BANG/2011[2000-01]Status: DisposedITAT Bangalore31 Mar 2017AY 2000-01

Bench: Shri Sunil Kumar Yadav & Shri. S. Jayaraman

For Appellant: Shri. Gurunathan, AdvocateFor Respondent: Smt. Preethi Garg, CIT-DR
Section 148

…s in support of the working capital adjustment: (a) Philips Software Centre Pvt. Ltd Vs. ACT (119 TTJ 721) (b) Sony India Pvt. Ltd Vs. CIT (315 ITR 150) (C)Egain Communications Pvt. Ltd (Delhi Tribunal in ITA No.1885/PM/2007). (d) Mentor Graphics P. Ltd., [109 ITD 101] [2007] [Delhi] IT(TP)A.209,210,617 to 619,COs.31 to 33/B/2011 Page - 23 After considering the appellant's arguments on these issues only two issues have to be determined. (i) Whether the determined margin of ALP for three years are to be applied on the total turnover or on the turnover of the LO which is determined to be 40% of the total turn…

Willis Processing Services (India) P.Ltd, Mumbai vs. Asst CIT (OSD) 2(3), Mumbai

ITA 6877/MUM/2012[2008-09]Status: DisposedITAT Mumbai22 Mar 2017AY 2008-09

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No. 6877/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09)

For Appellant: Sh. R.R Vora and Nikhil TiwariFor Respondent: Sh. Debashis Chanda
Section 133Section 143(3)Section 144CSection 92C(3)Section 92C(4)

…e benches of the Tribunal:- (i). M/s Adobe Systems India Private Limited (ITA No. 5043/Del/2010) (ii). SAP Labs Pvt Ltd (ITA No. 398/Bang/20). (iii). Teva India Pvt Ltd (6107/Mum/2009). (iv) Saunay Jewels Pvt Ltd (5758/Mum/2007). (v). Mentor Graphics (P) Ltd (112 TTJ 408). (4). That it was thus submitted before us that the aforesaid comparable, viz. Coral Hub Limited (earlier known as Vishal Information Technology Limited) was functionally different, therefore the same may be excluded from the list of the comparables. That on the other hand the Ld. Departmental representative (for short ‘D.R’) had placed heavy r…

Xchanging Solutions Limited, Bangalore vs. DCIT, Bangalore

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

ITA 1294/BANG/2012[2008-09]Status: DisposedITAT Bangalore31 Oct 2016AY 2008-09

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

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri G.R. Reddy, CIT-I (D.R)
Section 115JSection 143(3)Section 211(6)Section 244A

…d, the reliance is placed on the following rulings wherein the need to undertake working capital adjustment has been appreciated by the Hon’ble Tribunals : • Mercer Consulting India Pvt. Ltd. [TS-170-ITAT-2014(DEL)] • Mentor Graphics (Noida) Private Limited [109 ITD 101] • Egain communication (P) Ltd. [ITA No. 1685/PN/2007] • Sony India (Pvt.) ltd. [2011-TII-43-ITAT-DEL-TP] • Capgemini India Private Limited [TS-45-ITAT-2013(Mum)-TP] 8. In view of the above, a working adjustment appropriately takes into account the outstanding receivable. Therefore, the assessee has undertaken a working capital adjustment to refl…

Landis + Gyr Limited, South 24 Parganas vs. DCIT, Circle - 1, Kolkata

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

ITA 37/KOL/2012[2007-08]Status: DisposedITAT Kolkata03 Aug 2016AY 2007-08

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Rahul Mitra, ARFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 144C(5)Section 144C(8)Section 43B

…rtaken, assets used or contributed, and risks assumed by the parties to the transactions.” [Emphasis added) He also placed reliance on the co-ordinate bench decision of Delhi Tribunal in the case of Mentor Graphics (Noida) Pvt. Ltd vs DCIT reported in (2007) 109 ITD 101 (Delhi Trib.), wherein it was held that :- “The function that need to be identified while carrying comparison as per OECD guidelines include design, manufacturing, assembling, research and development, servicing, purchasing, distribution, marketing, advertising, transportation, financial and management activities. It is also necessary to examine…

M/S Landis+Gyr Limited, Kolkata vs. DCIT, Circle -1, Kolkata

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

ITA 1623/KOL/2012[2008-2009]Status: DisposedITAT Kolkata03 Aug 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Rahul Mitra, ARFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 144C(5)Section 144C(8)Section 43B

…rtaken, assets used or contributed, and risks assumed by the parties to the transactions.” [Emphasis added) He also placed reliance on the co-ordinate bench decision of Delhi Tribunal in the case of Mentor Graphics (Noida) Pvt. Ltd vs DCIT reported in (2007) 109 ITD 101 (Delhi Trib.), wherein it was held that :- “The function that need to be identified while carrying comparison as per OECD guidelines include design, manufacturing, assembling, research and development, servicing, purchasing, distribution, marketing, advertising, transportation, financial and management activities. It is also necessary to examine…

M/S. G4S Security Services (India) Pvt. Ltd., Gurgaon vs. ACIT, New Delhi

In the result, appeal filed by the assessee stands allowed for statistical purposes and the appeal filed by the Revenue stands dismissed

ITA 1540/DEL/2012[2007-08]Status: DisposedITAT Delhi03 Aug 2016AY 2007-08

Bench: Shri N. K. Saini & Smt. Beena A. Pillai

For Appellant: Shri Mukesh Bhutani, AdvFor Respondent: shri Neeraj Kumar, Sr. DR
Section 143(2)Section 143(3)Section 144CSection 37(1)Section 92C

…23 TTJ 509 (Del.) iii) Skoda Auto India (P) Ltd. Vs ACIT 30 SOT 319 (Pune) iv) Sony India (P) Ltd. Vs DCIT 114 ITD 448 (Del.) v) E-Gain Communications (P) Ltd. Vs ITO 23 SOT 385 (Pune) 10 I.T.A.No..1540/Del/2012 vi) Mentor Graphics (Noida) Pvt. Ltd. Vs DCIT 109 ITD 101 (Del.) 9.4 In view of above and respectfully following the ratio laid down by the above decisions of Coordinate Bench of the Tribunal, we are of the considered view that Ld. TPO was wrong in not granting the benefits of extra ordinary expenses as the same has a material impact as compared to the comparables. Accordingly, this ground of assessee’…

Exevo India Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result appeal filed by the assessee stands allowed

ITA 907/DEL/2016[2011-12]Status: DisposedITAT Delhi25 Jul 2016AY 2011-12

Bench: Shri Pramod Kumar & Smt. Beena A. Pillai

For Appellant: Shri Deepak Chopra, AdvFor Respondent: Shri Amrendra Kumar, CIT DR
Section 143(2)Section 143(3)Section 144CSection 90

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER I.T.A. No.907/Del/2016 (Assessment Year: 2011-12) Exevo India Pvt. Ltd., Vs. ITO, Ward 8(4), Unit NO.216, Second Floor, New Delhi Square One, C-2, District Centre, Saket, New Delhi. GIR / PAN :AABCE0738K (Appellant) (Respondent) Appellant by :Shri Deepak Chopra, Adv. Shri Harpreet Singh, Adv. Shri Rohan Khare, Adv. Respondent by :Shri Amrendra Kumar, CIT DR Date of hearing: 27.04.2016 Date of Pronouncement: 25.07.2016 ORDER PER BEENA A. PILLAI, JM: The present ap…

Saic India Pvt. Ltd., Noida vs. DCIT, New Delhi

ITA 6464/DEL/2012[2008-09]Status: DisposedITAT Delhi27 Jun 2016AY 2008-09

Bench: Shri Kuldip Singh & Shri N.K. Saini

For Appellant: S/Shri S.D. Kapila, R.R. MauryaFor Respondent: Shri Piyush Jain, CIT DR
Section 40Section 92C

…amount of net profit margin in the open market;" ………” The ld. counsel has further submitted that the Hon'ble Delhi, ITAT has also upheld the need of making working capital adjustment in following judgments. • Mentor Graphics (Noida) (P.) Ltd. v. Dy. CIT[2007] 109 ITD 101/ 18 SOT 76 (Delhi) • Sony India (P.) Ltd v. Dy. CIT[2008] 114 ITD 448 (Delhi) Thus in light of the provisions of Rule 10B(1)(e) and the Hon'ble ITAT judgments, it has been pleaded to grant the Appellant the benefit of working capital adjustment. 35 ITA No.6464/Del./2012 5.3 Ld. Departmental Representative on the other hand relied upon the order…

ACIT, New Delhi vs. M/S. Timex Group India Ltd., New Delhi

ITA 259/DEL/2013[2006-07]Status: DisposedITAT Delhi21 Jun 2016AY 2006-07

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

For Appellant: Sh. K.M. Gupta, Adv. & Sh. Gautam Jain, CAFor Respondent: Sh. Hemant Gupta, Sr. DR

…Nos. 258 & 259/Del/2013 Timex Watches Ltd. subsequent to entering into the international transaction to align them to the arm’s length price. The reliance was placed on the following case laws: " AZTEC Software 107 ITD (AT) 141 (SB) (Bang) " Mentor Graphic 109 ITD 101 (Del) " Honeywell Ltd. 209 TIOL 104 (AT) (Pune) 30. The reliance was also placed on the judgment of the Hon’ble Delhi High Court in the case of Schefenacker Motherson Ltd. Vs ITO (2009) TIOL 376. The ld. CIT(A) accordingly upheld the action of the AO for taking only single year data for benchmarking the international transaction. A regards to the…

ACIT, New Delhi vs. M/S. Timex Group India Ltd., New Delhi

ITA 258/DEL/2013[2005-06]Status: DisposedITAT Delhi21 Jun 2016AY 2005-06

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

For Appellant: Sh. K.M. Gupta, Adv. & Sh. Gautam Jain, CAFor Respondent: Sh. Hemant Gupta, Sr. DR

…Nos. 258 & 259/Del/2013 Timex Watches Ltd. subsequent to entering into the international transaction to align them to the arm’s length price. The reliance was placed on the following case laws: " AZTEC Software 107 ITD (AT) 141 (SB) (Bang) " Mentor Graphic 109 ITD 101 (Del) " Honeywell Ltd. 209 TIOL 104 (AT) (Pune) 30. The reliance was also placed on the judgment of the Hon’ble Delhi High Court in the case of Schefenacker Motherson Ltd. Vs ITO (2009) TIOL 376. The ld. CIT(A) accordingly upheld the action of the AO for taking only single year data for benchmarking the international transaction. A regards to the…

ACIT, New Delhi vs. M/S. Timex Watches Ltd., New Delhi

ITA 2769/DEL/2012[2004-05]Status: DisposedITAT Delhi21 Jun 2016AY 2004-05

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

For Appellant: Sh. K.M. Gupta, Adv. & Sh. Gautam Jain, CAFor Respondent: Sh. Hemant Gupta, Sr. DR

…Nos. 258 & 259/Del/2013 Timex Watches Ltd. subsequent to entering into the international transaction to align them to the arm’s length price. The reliance was placed on the following case laws: " AZTEC Software 107 ITD (AT) 141 (SB) (Bang) " Mentor Graphic 109 ITD 101 (Del) " Honeywell Ltd. 209 TIOL 104 (AT) (Pune) 30. The reliance was also placed on the judgment of the Hon’ble Delhi High Court in the case of Schefenacker Motherson Ltd. Vs ITO (2009) TIOL 376. The ld. CIT(A) accordingly upheld the action of the AO for taking only single year data for benchmarking the international transaction. A regards to the…

Dell International Services India Private Limited, Bangalore vs. JCIT, Bangalore

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

ITA 308/BANG/2015[2010-11]Status: DisposedITAT Bangalore17 Jun 2016AY 2010-11

Bench: Shri Abraham P George & Shri Vijay Pal Rao

For Appellant: Shri Sampath Raghunathan, AdvocateFor Respondent: Shri P. Chandrashekar, CIT (D.R)
Section 143(3)

…d, the reliance is placed on the following rulings wherein the need to undertake working capital adjustment has been appreciated by the Hon’ble Tribunals : • Mercer Consulting India Pvt. Ltd. [TS-170-ITAT-2014(DEL)] • Mentor Graphics (Noida) Private Limited [109 ITD 101] • Egain communication (P) Ltd. [ITA No. 1685/PN/2007] • Sony India (Pvt.) ltd. [2011-TII-43-ITAT-DEL-TP] • Capgemini India Private Limited [TS-45-ITAT-2013(Mum)-TP] 8. In view of the above, a working adjustment appropriately takes into account the outstanding receivable. Therefore, the assessee has undertaken a working capital adjustment to refl…

ACIT 8(1), Mumbai vs. Bunge India P. Ltd, Mumbai

ITA 4336/MUM/2009[2005-06]Status: DisposedITAT Mumbai18 May 2016AY 2005-06
For Appellant: Shri Vispi PatelFor Respondent: Shri Debashish Chandra
Section 254(1)Section 92A

…आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण, मुंबई मुंबई “केकेकेके” खंडपीठ खंडपीठ आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण मुंबई मुंबई खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“K”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं सी. एन. "साद,"याियक सद"य Before S/Sh.Rajendra,Accountant Member and C.N. Prasad,Judicial Member आयकर अपील अपील संसंसंसं./I.T.A./4336/Mum/2009,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2005-06 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" DCIT, Circle-8(1) M/s. Bunge India Pvt. Ltd. Room No.210, 2nd Floor 601 C & 601 D, 6th Floor, The Capital, C- Aayakar Bhavan, Mumbai-400020. Vs. 70,G-Block, Bandra…