Micro Ink Ltd. v. ACIT

157 ITD 132Income Tax Appellate Tribunal2016#1881 most cited

What is Micro Ink Ltd. v. ACIT authority for?

Issuance of corporate guarantees does not constitute an international transaction under section 92B, particularly for guarantees provided before the 2012 amendment. Such guarantees are considered shareholder activities or quasi-capital and do not impact enterprise profits, income, losses, or assets.

61

judgments rely on this decision, according to BharatTax’s citation analysis of 366,418 Indian tax judgments — from 2016 to 2025.

Also referred to as

Micro Ink Ltd. v. ACIT · 157 ITD 132 · section 92B · corporate guarantee · international transaction · shareholder activity · quasi-capital · transfer pricing adjustment · 2012 amendment

Also reported as

88 Taxmann.com 338

Sections most often in play

Section 92BSection 143(3)Section 147Section 148Section 37(1)Section 140A(3)Section 14ASection 250

Issues it is cited on

section 92f(v)section 92b(1)section 45(2)section 92f(ii)section 43dcorporate guaranteesection 92fsection 92bsection 140asection 92(1)minimum alternate taxproject completion method

Judgments citing Micro Ink Ltd. v. ACIT

Essar Shipping Limited, Mumbai vs. ACIT-5(1)(2), Mumbai

In the result, ground No.10 is allowed for statistical purposes

ITA 7371/MUM/2017[2013-14]Status: DisposedITAT Mumbai06 Mar 2020AY 2013-14

Bench: Shri R.C.Sharma, Am & Shri Vikas Awasthy, Jm Essar Shipping Ltd., Vs. A.C.I.T.-5(1)(2), 11, K.K. Marg, Mahalaxmi, Mumbai. Mumbai-400034. Pan/Gir No.Aacce 3707 D (Appellant) .. (Respondent)

Section 115VSection 143(3)Section 144C(13)Section 144C(5)

…bearing on profit, income, losses, etc of assessee and hence it does not come within the purview of international transaction as defined u/s 92B of the Act, Reliance was placed on the orders of the Hon'ble Tribunal in case of; i) Micro Inks v. Addl. CIT [157 ITD 132 (Mum)] ii) Siro Clinpharm Pvt. Ltd. v. Dy. CIT (ITA No: 2618/Mum/2014) dated 31.03.2016 iii) Marico Ltd v. ACIT (ITA No: 8858/Mum/2011) dated 18.05.2016 iv) Bharti Airtel Ltd v. Addl. CIT [161 TTJ 483 (Mum)] 13. On the other hand, the ld DR has relied on the order of the DRP. 14. We have considered the rival contentions and carefully gone thro…

Bilakhia Holdings Pvt. Ltd., Vapi vs. The ACIT., Vapi Circle, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 795/AHD/2016[2011-12]Status: DisposedITAT Surat04 Feb 2020AY 2011-12

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…as international transaction and consequently, ALP adjustment is not warranted on this aspect. Accordingly, the ground raised by assessee is allowed.” 30. This has also been held by Hon’ble Ahmedabad Tribunal in the case of Micro Ink Ltd. v. Addl. CIT (2016) 157 ITD 132/63 taxmann.com 352 (Ahd.), Para 47 & 48 at Page 113 & 114 of the Compilation of decisions and Cadila Healthcare Ltd reported in (2017) Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 56 of 66 80 taxmann.com 24 (Ahmedab…

Bilakhia Holdings Pvt. Ltd., Vapi vs. The Addl.CIT., Vapi Range, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 1416/AHD/2015[2010-11]Status: DisposedITAT Surat04 Feb 2020AY 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…as international transaction and consequently, ALP adjustment is not warranted on this aspect. Accordingly, the ground raised by assessee is allowed.” 30. This has also been held by Hon’ble Ahmedabad Tribunal in the case of Micro Ink Ltd. v. Addl. CIT (2016) 157 ITD 132/63 taxmann.com 352 (Ahd.), Para 47 & 48 at Page 113 & 114 of the Compilation of decisions and Cadila Healthcare Ltd reported in (2017) Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 56 of 66 80 taxmann.com 24 (Ahmedab…

Bilakhia Holdings Pvt. Ltd., Vapi vs. The Jt.CIT., Vapi Range, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 1415/AHD/2015[2009-10]Status: DisposedITAT Surat04 Feb 2020AY 2009-10

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…as international transaction and consequently, ALP adjustment is not warranted on this aspect. Accordingly, the ground raised by assessee is allowed.” 30. This has also been held by Hon’ble Ahmedabad Tribunal in the case of Micro Ink Ltd. v. Addl. CIT (2016) 157 ITD 132/63 taxmann.com 352 (Ahd.), Para 47 & 48 at Page 113 & 114 of the Compilation of decisions and Cadila Healthcare Ltd reported in (2017) Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 56 of 66 80 taxmann.com 24 (Ahmedab…

Bilakhia Holding P Ltd, Vapi vs. The Jt.CIT., Vapi Range, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 507/AHD/2013[2008-09]Status: DisposedITAT Surat04 Feb 2020AY 2008-09

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…as international transaction and consequently, ALP adjustment is not warranted on this aspect. Accordingly, the ground raised by assessee is allowed.” 30. This has also been held by Hon’ble Ahmedabad Tribunal in the case of Micro Ink Ltd. v. Addl. CIT (2016) 157 ITD 132/63 taxmann.com 352 (Ahd.), Para 47 & 48 at Page 113 & 114 of the Compilation of decisions and Cadila Healthcare Ltd reported in (2017) Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 56 of 66 80 taxmann.com 24 (Ahmedab…

Tata International Ltd, Mumbai vs. Addl CIT 7(3), Mumbai

In the result, Ground No. 6 to 9 (additional ground) of

ITA 4376/MUM/2010[2005-06]Status: DisposedITAT Mumbai29 Jan 2020AY 2005-06

Bench: Shri Pawan Singh & Shri S. Rifaur Rahmantata International Limited, Acit-7(3), Room No. 675, 6Th Floor, Block A, Shivsagar Estates, Dr. Annie Besant Road, Worli, Vs. Aayakar Bhavan, M.K. Road, Mumbai-400018 Mumbai-400020 Pan: Aaact3198F Appellant Respondent Acit-7(3), Tata International Limited, Room No. 675, 6Th Floor, Block A, Shivsagar Estates, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M.K. Road, Mumbai-400018 Mumbai-400020 Pan: Aaact3198F Appellant Respondent Cross Objection No. 223/Mum/2013 In Ita No. 4451/Mum/2010 Tata International Limited, Acit-7(3), Room No. 675, 6Th Floor, Block A, Shivsagar Estates, Dr. Annie Besant Road, Worli, Vs. Aayakar Bhavan, M.K. Road, Mumbai-400018 Mumbai-400020 Pan: Aaact3198F Appellant Respondent Appellant By : Shri P.J. Pardiwala, Shri Nitesh Joshi, Shri Milin Thakore & Ms. Astha Shah (Ar) Respondent By : Shri A. Mohan (Cit- Dr)

For Appellant: Shri P.J. Pardiwala, Shri Nitesh JoshiFor Respondent: Shri A. Mohan (CIT- DR)
Section 14ASection 253Section 254(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Tata International Limited, ACIT-7(3), Room No. 675, 6th Floor, Block A, Shivsagar Estates, Dr. Annie Besant Road, Worli, Vs. Aayakar Bhavan, M.K. Road, Mumbai-400018 Mumbai-400020 PAN: AAACT3198F Appellant Respondent ACIT-7(3), Tata International Limited, Room No. 675, 6th Floor, Block A, Shivsagar Estates, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M.K. Road, Mumbai-400018 Mumbai-400020 PAN: AAACT3198F Appellant Respondent Cross Objection No. 223/Mum/2013 in ITA…

DCIT, Circle - 8(1), Kolkata vs. M/S. Gujarat Nre Coke Ltd., Kolkata

Appeal is dismissed

ITA 167/KOL/2018[2012-13]Status: DisposedITAT Kolkata18 Dec 2019AY 2012-13

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 Dcit, Circle-8(1), V/S. M/S Gujarat Nre Coke Aayakar Bhawan, 5Th Ltd., 4Th Floor, Room No.6, Floor, P-7, Chowringhee Commerce House, 2A, Square, Kolkata-69 Ganesh Chandra Avenue, Kolkatka-700 013 [Pan No.Aabcg 6225 H] .. अपीलाथ" /Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C(1)Section 14ASection 154Section 43ASection 92B

…nternational transaction in view of various judicial precedents i.e. Bharti Airtel Ltd. Vs. Addl. CIT (2014) 39 CCH 0445 (ITAT Delhi) M/s Videocon Industries Ltd. vs. ACIT (2015) 55 taxmann.com 263 (Mum), DCIT vs. Manalesia Ltd. ITA No.980/Kol/2017 and (2016) 157 ITD 132 (Ahd) Micro Ink Ltd. vs. Add. CIT have also taken note of corresponding amendment in sec. 92B by way of explanation vide Finance Act, 2012 w.r.e.f 01.04.2002. We thus affirm the CIT(A)’s findings going by the very analogy & reject the Revenue’s instant first substantive grievance. 3. Next comes the second issue of sec. 14A r.w.s. 8D disallowance…

DCIT, Circle - 11(1), Kolkata vs. M/S. Graphite India Ltd., Kolkata

ITA 474/KOL/2018[2008-09]Status: DisposedITAT Kolkata22 Nov 2019AY 2008-09

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos.472 & 474 & C.O Nos.64 & 66/Kol/2018 ("नधा"रण वष" / Assessment Years: 2007-08 & 2008-09) Dcit, Circle-11(1), Kolkata Vs. M/S. Graphite India Ltd. 31, Chowringhee Road, Kolkata- 700016. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacc0457C (Appellant) .. (Respondent/Cross-Objector)

For Appellant: Dr. P. K. Srihari, CIT(DR)For Respondent: Ms. Ruchira Lakhotia, ACA
Section 143(3)Section 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & Dr. A. L. SAINI, AM I.T.A Nos.472 & 474 & C.O Nos.64 & 66/Kol/2018 ("नधा"रण वष" / Assessment Years: 2007-08 & 2008-09) DCIT, Circle-11(1), Kolkata Vs. M/s. Graphite India Ltd. 31, Chowringhee Road, Kolkata- 700016. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACC0457C (Appellant) .. (Respondent/Cross-Objector) Appellant by : Dr. P. K. Srihari, CIT(DR) Respondent by : Ms. Ruchira Lakhotia, ACA सुनवाईक"तार"ख/ Date of Hearing : 05/11/2019 घोषणाक"तार"ख/Date of Pronouncement : 22/11/2019 आदेश / O R D E R Per Shri S. S. Godara: These tw…

DCIT, Circle - 11(1), Kolkata vs. M/S. Graphite India Ltd., Kolkata

ITA 472/KOL/2018[2007-08]Status: DisposedITAT Kolkata22 Nov 2019AY 2007-08

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos.472 & 474 & C.O Nos.64 & 66/Kol/2018 ("नधा"रण वष" / Assessment Years: 2007-08 & 2008-09) Dcit, Circle-11(1), Kolkata Vs. M/S. Graphite India Ltd. 31, Chowringhee Road, Kolkata- 700016. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacc0457C (Appellant) .. (Respondent/Cross-Objector)

For Appellant: Dr. P. K. Srihari, CIT(DR)For Respondent: Ms. Ruchira Lakhotia, ACA
Section 143(3)Section 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & Dr. A. L. SAINI, AM I.T.A Nos.472 & 474 & C.O Nos.64 & 66/Kol/2018 ("नधा"रण वष" / Assessment Years: 2007-08 & 2008-09) DCIT, Circle-11(1), Kolkata Vs. M/s. Graphite India Ltd. 31, Chowringhee Road, Kolkata- 700016. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACC0457C (Appellant) .. (Respondent/Cross-Objector) Appellant by : Dr. P. K. Srihari, CIT(DR) Respondent by : Ms. Ruchira Lakhotia, ACA सुनवाईक"तार"ख/ Date of Hearing : 05/11/2019 घोषणाक"तार"ख/Date of Pronouncement : 22/11/2019 आदेश / O R D E R Per Shri S. S. Godara: These tw…

Symphony Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax, Circle-4(1)(1), Ahmedabad

In the result, appeal filed by the assessee

ITA 1057/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad20 Sept 2019AY 2012-13
For Appellant: Shri Bharat Shah, ARFor Respondent: Smt. Vinod Tanwani, CIT- DR
Section 115JSection 143(3)Section 145ASection 14ASection 68Section 92C

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘D’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORESHRI MANISH BORAD, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER आयकर अपील सं./ITA No.1057/Ahd/2017 { "नधा"रण वष"/Assessment Year:2012-13 Symphony Ltd. Symphony Dy. Commissioner of House, FP 12, TP 50 S. G. Vs Income Tax, Circle-4(1)(1) Highway, Bodakdev, ‘B’ Wing, 2nd Floor, Ahmedabad-380054, Bodakdev, Pratyaksh Kar Bhavan, Ahmedabad-380054. Ahmedabad-15. PAN NO-AACCS6739B अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Appellant by : Shri Bharat Shah, AR Revenue by : Smt. Vinod Tanwani, CIT-…

The Jt. CIT, Range-4, Ahmedabad vs. M/S. Mastek Ltd., Ahmedabad

ITA 514/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2010-11

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…ental Representative, we may begin ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 14 by pointing out that this issue has been dealt with in detail by decision of a coordinate bench in the case of Micro Ink vs ACIT [(2016) 176 TTJ 8 (Ahd)] wherein the coordinate bench has, inter alia, observed as follows: 21. It is only elementary that the determination of arm's length price, under the scheme of the international transfer pricing set out in the Income-tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arisi…

Mastek Limited, Ahmedabad vs. The Jt.CIT, Rang4, Ahmedabad

ITA 172/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2010-11

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…ental Representative, we may begin ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 14 by pointing out that this issue has been dealt with in detail by decision of a coordinate bench in the case of Micro Ink vs ACIT [(2016) 176 TTJ 8 (Ahd)] wherein the coordinate bench has, inter alia, observed as follows: 21. It is only elementary that the determination of arm's length price, under the scheme of the international transfer pricing set out in the Income-tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arisi…

Asstt. Commissioner of Income Tax, Circle-2(1)(2), Ahmedabad vs. M/S. Mastek Ltd., Ahmedabad

ITA 1852/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2009-10

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…ental Representative, we may begin ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 14 by pointing out that this issue has been dealt with in detail by decision of a coordinate bench in the case of Micro Ink vs ACIT [(2016) 176 TTJ 8 (Ahd)] wherein the coordinate bench has, inter alia, observed as follows: 21. It is only elementary that the determination of arm's length price, under the scheme of the international transfer pricing set out in the Income-tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arisi…

Mastek Limited, Ahmedabad vs. The Dy.CIT, (OSD) - 1, Circle-4, Ahmedabad

ITA 1188/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad03 Sept 2019AY 2009-10

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

For Appellant: Shri S. N. Soparkar & Parin Shah, A.RsFor Respondent: Shri Krishna Murari, CIT- D.R
Section 143Section 143(1)Section 143(3)Section 14A

…ental Representative, we may begin ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 14 by pointing out that this issue has been dealt with in detail by decision of a coordinate bench in the case of Micro Ink vs ACIT [(2016) 176 TTJ 8 (Ahd)] wherein the coordinate bench has, inter alia, observed as follows: 21. It is only elementary that the determination of arm's length price, under the scheme of the international transfer pricing set out in the Income-tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arisi…

Kansai Nerolac Paints Ltd, Mumbai vs. Addl CIT RG 6(2), Mumbai

ITA 7196/MUM/2013[2007-08]Status: DisposedITAT Mumbai15 May 2019AY 2007-08

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6789/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ Dcit Circle -6(2) M/S. Kansai Nerolac Paints Ltd., R.No. 563, Aayakar Bhavan, Nerolac House, K.G. Marg, M.K. Road, Churchgate, V. Lower Parel, Mumbai-400020 Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. आयकर अपीऱ सं./I.T.A. No.7196/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ M/S. Kansai Nerolac Paints Addl. Cit Circle -6(2) Ltd., R.No. 669, Nerolac House, K.G. Marg, Aayakar Bhavan, V. Lower Parel, Mumbai 400013 M.K. Road, Mumbai- 400020 स्थायी ऱेखा सं./ Pan : Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri. Rignesh K. Das (DR)
Section 143(3)Section 144C(3)Section 145ASection 14A

….2002 by way of an explanation to Section 92B will only be prospective in nature albeit the explanation was inserted w.e.f. 01.04.2002 to clarify the definition of international transaction. The assessee also relied upon the decision of Micro Ink Ltd. v. ACIT 157 ITD 132(Ahd.) and DCIT v. Spentex India Ltd.,(2018) 94 Taxmann.com 419(Del-trib). 25. The Ld. DR on the other hand relied upon the order of the TPO and the appellate order passed by Ld. CIT(A) . It was prayed that additions made towards corporate guarantee commission @3% of the corporate guarantee issued be upheld. 26. The Ld. AR on the other hand submit…

DCIT 6(2), Mumbai vs. Kansai Nerolac Paints Ltd, Mumbai

ITA 6789/MUM/2013[2007-08]Status: DisposedITAT Mumbai15 May 2019AY 2007-08

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6789/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ Dcit Circle -6(2) M/S. Kansai Nerolac Paints Ltd., R.No. 563, Aayakar Bhavan, Nerolac House, K.G. Marg, M.K. Road, Churchgate, V. Lower Parel, Mumbai-400020 Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. आयकर अपीऱ सं./I.T.A. No.7196/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ M/S. Kansai Nerolac Paints Addl. Cit Circle -6(2) Ltd., R.No. 669, Nerolac House, K.G. Marg, Aayakar Bhavan, V. Lower Parel, Mumbai 400013 M.K. Road, Mumbai- 400020 स्थायी ऱेखा सं./ Pan : Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri. Rignesh K. Das (DR)
Section 143(3)Section 144C(3)Section 145ASection 14A

….2002 by way of an explanation to Section 92B will only be prospective in nature albeit the explanation was inserted w.e.f. 01.04.2002 to clarify the definition of international transaction. The assessee also relied upon the decision of Micro Ink Ltd. v. ACIT 157 ITD 132(Ahd.) and DCIT v. Spentex India Ltd.,(2018) 94 Taxmann.com 419(Del-trib). 25. The Ld. DR on the other hand relied upon the order of the TPO and the appellate order passed by Ld. CIT(A) . It was prayed that additions made towards corporate guarantee commission @3% of the corporate guarantee issued be upheld. 26. The Ld. AR on the other hand submit…

DCIT, Central Circle - 4(4), 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

…Airtel Ltd. Vs. Additional CIT [39 CCH 415]  ITAT(Mumbai) in case of Videocon Industries Ltd. Vs. Addl. CIT [43 CCH 113]  ITAT(Chennai) in case of Redington (India) Ltd. Vs. ACIT [41 ITR (Trib) 646]  ITAT(Ahmedabad) in case of Micro Ink Ltd. Vs. Addl. CIT [157 ITD 132]  The Mumbai Tribunal in case of Marico Ltd. Vs. ACIT [47 CCH 117] I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 5.3.1 Coming to the methodology adopted by the TPO to compute the ALP of the impugned guarantee transaction, it is observed that the same is arbitrary a…

DCIT, Central Circle - 4(4), 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

…Airtel Ltd. Vs. Additional CIT [39 CCH 415]  ITAT(Mumbai) in case of Videocon Industries Ltd. Vs. Addl. CIT [43 CCH 113]  ITAT(Chennai) in case of Redington (India) Ltd. Vs. ACIT [41 ITR (Trib) 646]  ITAT(Ahmedabad) in case of Micro Ink Ltd. Vs. Addl. CIT [157 ITD 132]  The Mumbai Tribunal in case of Marico Ltd. Vs. ACIT [47 CCH 117] I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 5.3.1 Coming to the methodology adopted by the TPO to compute the ALP of the impugned guarantee transaction, it is observed that the same is arbitrary a…

M/S. Electrosteel Casting Limited., Kolkata vs. DCIT, Cental Circle - 4(4), 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

…Airtel Ltd. Vs. Additional CIT [39 CCH 415]  ITAT(Mumbai) in case of Videocon Industries Ltd. Vs. Addl. CIT [43 CCH 113]  ITAT(Chennai) in case of Redington (India) Ltd. Vs. ACIT [41 ITR (Trib) 646]  ITAT(Ahmedabad) in case of Micro Ink Ltd. Vs. Addl. CIT [157 ITD 132]  The Mumbai Tribunal in case of Marico Ltd. Vs. ACIT [47 CCH 117] I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 5.3.1 Coming to the methodology adopted by the TPO to compute the ALP of the impugned guarantee transaction, it is observed that the same is arbitrary a…

M/S. Electrosteel Casting Limited., Kolkata vs. DCIT, Cental Circle - 4(4), 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

…Airtel Ltd. Vs. Additional CIT [39 CCH 415]  ITAT(Mumbai) in case of Videocon Industries Ltd. Vs. Addl. CIT [43 CCH 113]  ITAT(Chennai) in case of Redington (India) Ltd. Vs. ACIT [41 ITR (Trib) 646]  ITAT(Ahmedabad) in case of Micro Ink Ltd. Vs. Addl. CIT [157 ITD 132]  The Mumbai Tribunal in case of Marico Ltd. Vs. ACIT [47 CCH 117] I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 5.3.1 Coming to the methodology adopted by the TPO to compute the ALP of the impugned guarantee transaction, it is observed that the same is arbitrary a…