Micro Inks Ltd. v. Asstt. CIT

36 Taxmann.com 50Income Tax Appellate Tribunal2013#7129 most cited

What is Micro Inks Ltd. v. Asstt. CIT authority for?

An adjustment for excess credit period allowed to a foreign associate is deleted when the credit period was an agreed part of the arrangement and the cost of funds was inbuilt in the sale price.

16

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2024.

Also referred to as

Micro Inks Ltd. v. Asstt. CIT · transfer pricing adjustment · excess credit period · international transaction · ALP adjustment · cost of funds · inbuilt in sale price · section 92(1) · associated enterprise

Also reported as

144 ITD 61

Issues it is cited on

section 80iesection 35(1)(iv)section 10(2a)section 92(1)section 35(1)legal expensesstrategic investmentaccumulated profitsweighted deductionsection 35(2ab)section 80iccorporate guarantee

Judgments citing Micro Inks Ltd. v. Asstt. CIT

The Asstt. Commissioner of Income Tax, Circle-2(1) (1), Ahmedabad vs. M/S. Intas Pharmaceuticals Pvt. Ltd., Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1646/AHD/2017[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.1334/Ahd/2017 (Assessment Year: 2009-10) Intas Pharmaceuticals Ltd., Vs. Assistant Commissioner of 203, Chinubhai Center, Income Tax, Off. Nehru Bridge, Ashram Road Circle-2(1)(1), Ahmedabad-380009 Ahmedabad [PAN No.AAACI5120L] (Appellant) .. (Respondent) I.T.A. No. 1644/Ahd/2017 (Assessment Year: 2009-10) Assistant Commissioner of Vs. Intas Pharmaceuticals Pvt. Ltd. Income Tax, 203, Chinubhai Center, Opp. Circle-2(1)(1), Nehru Bridge, Ashram Road, Ahmeda…

The Asstt. Commissioner of Income Tax, Circle-2(1) (1), Ahmedabad vs. M/S. Intas Pharmaceuticals Pvt. Ltd., Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1645/AHD/2017[2010-11]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2010-11

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.1334/Ahd/2017 (Assessment Year: 2009-10) Intas Pharmaceuticals Ltd., Vs. Assistant Commissioner of 203, Chinubhai Center, Income Tax, Off. Nehru Bridge, Ashram Road Circle-2(1)(1), Ahmedabad-380009 Ahmedabad [PAN No.AAACI5120L] (Appellant) .. (Respondent) I.T.A. No. 1644/Ahd/2017 (Assessment Year: 2009-10) Assistant Commissioner of Vs. Intas Pharmaceuticals Pvt. Ltd. Income Tax, 203, Chinubhai Center, Opp. Circle-2(1)(1), Nehru Bridge, Ashram Road, Ahmeda…

The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad vs. Intas Pharmaceuticals Pvt. Ltd., Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1644/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2009-10

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.1334/Ahd/2017 (Assessment Year: 2009-10) Intas Pharmaceuticals Ltd., Vs. Assistant Commissioner of 203, Chinubhai Center, Income Tax, Off. Nehru Bridge, Ashram Road Circle-2(1)(1), Ahmedabad-380009 Ahmedabad [PAN No.AAACI5120L] (Appellant) .. (Respondent) I.T.A. No. 1644/Ahd/2017 (Assessment Year: 2009-10) Assistant Commissioner of Vs. Intas Pharmaceuticals Pvt. Ltd. Income Tax, 203, Chinubhai Center, Opp. Circle-2(1)(1), Nehru Bridge, Ashram Road, Ahmeda…

Intas Pharmaceuticals Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1336/AHD/2017[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.1334/Ahd/2017 (Assessment Year: 2009-10) Intas Pharmaceuticals Ltd., Vs. Assistant Commissioner of 203, Chinubhai Center, Income Tax, Off. Nehru Bridge, Ashram Road Circle-2(1)(1), Ahmedabad-380009 Ahmedabad [PAN No.AAACI5120L] (Appellant) .. (Respondent) I.T.A. No. 1644/Ahd/2017 (Assessment Year: 2009-10) Assistant Commissioner of Vs. Intas Pharmaceuticals Pvt. Ltd. Income Tax, 203, Chinubhai Center, Opp. Circle-2(1)(1), Nehru Bridge, Ashram Road, Ahmeda…

Intas Pharmaceuticals Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1335/AHD/2017[2010-11]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2010-11

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.1334/Ahd/2017 (Assessment Year: 2009-10) Intas Pharmaceuticals Ltd., Vs. Assistant Commissioner of 203, Chinubhai Center, Income Tax, Off. Nehru Bridge, Ashram Road Circle-2(1)(1), Ahmedabad-380009 Ahmedabad [PAN No.AAACI5120L] (Appellant) .. (Respondent) I.T.A. No. 1644/Ahd/2017 (Assessment Year: 2009-10) Assistant Commissioner of Vs. Intas Pharmaceuticals Pvt. Ltd. Income Tax, 203, Chinubhai Center, Opp. Circle-2(1)(1), Nehru Bridge, Ashram Road, Ahmeda…

Intas Pharmaceuticals Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1334/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2009-10

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.1334/Ahd/2017 (Assessment Year: 2009-10) Intas Pharmaceuticals Ltd., Vs. Assistant Commissioner of 203, Chinubhai Center, Income Tax, Off. Nehru Bridge, Ashram Road Circle-2(1)(1), Ahmedabad-380009 Ahmedabad [PAN No.AAACI5120L] (Appellant) .. (Respondent) I.T.A. No. 1644/Ahd/2017 (Assessment Year: 2009-10) Assistant Commissioner of Vs. Intas Pharmaceuticals Pvt. Ltd. Income Tax, 203, Chinubhai Center, Opp. Circle-2(1)(1), Nehru Bridge, Ashram Road, Ahmeda…

The Dy. CIT, Gandhinagar Circle, Gandhinagar vs. M/S. Kalparatru Power Transmission Limited, Gandhinagar

Appeal of the assessee is dismissed

ITA 2853/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2012-13
For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 143(3)Section 250(6)Section 92C

…nt and further that the loans were given for commercial purposes and was not a simplicitor loan or advance given to the wholly own subsidiary. Heavy reliance was placed on the decision of the ITAT Ahmedabad Bench in the case of Micro Inks Ltd. vs. ACIT (2013) 144 ITD 610. Our attention was drawn to the contents of the said decision which was placed before us at Paper Book page no. 400 to 436. Taking us to Para 14 & 15 of the said decision, it was pointed out that in the case of Perot System TSI (India) Ltd vs Dy. CIT (2010) 37 SOT 358 (Delhi) identical issue was discussed and it was pointed out that the argument…

Kalpataru Power Transmission Ltd., Gandhinagar vs. The Dy. CIT, Gandhinagar Circle, Gandhinagar

Appeal of the assessee is dismissed

ITA 2472/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2013-14
For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 143(3)Section 250(6)Section 92C

…nt and further that the loans were given for commercial purposes and was not a simplicitor loan or advance given to the wholly own subsidiary. Heavy reliance was placed on the decision of the ITAT Ahmedabad Bench in the case of Micro Inks Ltd. vs. ACIT (2013) 144 ITD 610. Our attention was drawn to the contents of the said decision which was placed before us at Paper Book page no. 400 to 436. Taking us to Para 14 & 15 of the said decision, it was pointed out that in the case of Perot System TSI (India) Ltd vs Dy. CIT (2010) 37 SOT 358 (Delhi) identical issue was discussed and it was pointed out that the argument…

Kalpataru Power Transmission Ltd., Gandhinagar vs. The Dy. CIT, Gandhinagar Circle, Gandhinagar

Appeal of the assessee is dismissed

ITA 2471/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2012-13
For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 143(3)Section 250(6)Section 92C

…nt and further that the loans were given for commercial purposes and was not a simplicitor loan or advance given to the wholly own subsidiary. Heavy reliance was placed on the decision of the ITAT Ahmedabad Bench in the case of Micro Inks Ltd. vs. ACIT (2013) 144 ITD 610. Our attention was drawn to the contents of the said decision which was placed before us at Paper Book page no. 400 to 436. Taking us to Para 14 & 15 of the said decision, it was pointed out that in the case of Perot System TSI (India) Ltd vs Dy. CIT (2010) 37 SOT 358 (Delhi) identical issue was discussed and it was pointed out that the argument…

Zeta Interactive Systems (India) Private Limited, Hyderabad vs. Income Tax Officer, Ward-17(4), Hyderabad

Appeal of the assessee is partly allowed

ITA 1812/HYD/2017[2011-13]Status: DisposedITAT Hyderabad07 Jun 2022AY 2011-13

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12

For Appellant: Sri P.V.S.S. PrasadFor Respondent: Sri T. Sunil Goutam, DR

…ITA No 1812 of 2017 Zeta Interactive Systems India P Ltd Hyderabad IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ A ‘ Bench, Hyderabad Before Shri R.K. Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2011-12 Zeta Interactive Systems Vs. Income Tax Officer (India) Pvt. Ltd, Hyderabad Ward 17(4) PAN:AAACZ2688N Hyderabad (Appellant) (Respondent) Assessee by: Sri P.V.S.S. Prasad Revenue by: Sri T. Sunil Goutam, DR Date of hearing: 01/06/2022 Date of pronouncement: 07/06/2022 ORDER Per Laliet Kumar, J.M. This is assessee’s appeal for the A.Y 2011-12 against the order of the C…

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-…

Sophos Technologies Private Limited, (Formerly Known As Cyberoam Technologies Private Limited), Ahmedabad vs. The Dy. CIT, Circle-4(1)(1), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1565/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad16 Nov 2018AY 2012-13
Section 143(3)Section 92C

…I TA N o. 1 5 6 5/ Ah d /2 0 1 7 S op h os Tec h n ol og ie s Pv t L td Vs . DC I T Ass e ss me n t Y ea r : 2 0 12 - 1 3 Page 1 of 9 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD ‘D’ BENCH, AHMEDABAD [Coram: Justice P P Bhatt, President and Pramod Kumar, Vice President] Assessment Year: 2012-13 Sophos Technologies Private Limited .......…………...........Appellant (Formerly known as Cyberoam Technologies Pvt Ltd), Sophos House, Saigulshan Complex, Gulbai Tekra Raad, Near Panchvati Cross Roads, Ahmedabad-380015 [PAN : AACCC 7727 M] Vs. Dy. Commissioner of Income-tax ............................ Respondent Circle 4…

Gemstone Glass Pvt. Ltd., Kadi vs. The Dy. CIT, Circle-3(1)(1), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 414/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2012-13

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. It(Tp)A No.3533/Ahd/2015 - Ay 2010-11 2. It(Tp)A No.3631/Ahd/2015 - Ay 2011-12 3. It (Tp)A No.414/Ahd/2017 - Ay 2012-13

For Appellant: Shri Suhail DuttFor Respondent: Ms. Vasundhara Upmanyu, CIT-DR
Section 143(3)Section 144CSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER 1. IT(TP)A No.3533/Ahd/2015 - AY 2010-11 2. IT(TP)A No.3631/Ahd/2015 - AY 2011-12 3. IT (TP)A No.414/Ahd/2017 - AY 2012-13 Gemstone Glass Pvt.Ltd. Vs. The DCIT (successor in Pino Bisazza Circle-3(1)(1) Glass Pvt.Ltd.) Ahmedabad Plot No.12-E, GIDC Estate Gujarat Kadi [PAN No. AABCP 8041 Q) (Appellant) .. (Respondent) Appellant by : Shri Suhail Dutt, Shri Pawan Agarwal & Shri Sanjay R. Shah, ARs Respondent by : Ms. Vasundhara Upmanyu, CIT-DR Date of Hearing : 09/10/201…

Gemstone Glass Pvt. Ltd., (Successor in Pino Bisaza Glass Pvt. Ltd.), Kadi vs. The Dy.CIT, Circle-3(1)(1), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 3631/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2011-12

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. It(Tp)A No.3533/Ahd/2015 - Ay 2010-11 2. It(Tp)A No.3631/Ahd/2015 - Ay 2011-12 3. It (Tp)A No.414/Ahd/2017 - Ay 2012-13

For Appellant: Shri Suhail DuttFor Respondent: Ms. Vasundhara Upmanyu, CIT-DR
Section 143(3)Section 144CSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER 1. IT(TP)A No.3533/Ahd/2015 - AY 2010-11 2. IT(TP)A No.3631/Ahd/2015 - AY 2011-12 3. IT (TP)A No.414/Ahd/2017 - AY 2012-13 Gemstone Glass Pvt.Ltd. Vs. The DCIT (successor in Pino Bisazza Circle-3(1)(1) Glass Pvt.Ltd.) Ahmedabad Plot No.12-E, GIDC Estate Gujarat Kadi [PAN No. AABCP 8041 Q) (Appellant) .. (Respondent) Appellant by : Shri Suhail Dutt, Shri Pawan Agarwal & Shri Sanjay R. Shah, ARs Respondent by : Ms. Vasundhara Upmanyu, CIT-DR Date of Hearing : 09/10/201…

Gemstone Glass Pvt. Ltd., (Successor in Pino Bisaza Glass Pvt. Ltd.), Kadi vs. The Dy.CIT, Circle-3(1)(1), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 3533/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2010-11

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. It(Tp)A No.3533/Ahd/2015 - Ay 2010-11 2. It(Tp)A No.3631/Ahd/2015 - Ay 2011-12 3. It (Tp)A No.414/Ahd/2017 - Ay 2012-13

For Appellant: Shri Suhail DuttFor Respondent: Ms. Vasundhara Upmanyu, CIT-DR
Section 143(3)Section 144CSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER 1. IT(TP)A No.3533/Ahd/2015 - AY 2010-11 2. IT(TP)A No.3631/Ahd/2015 - AY 2011-12 3. IT (TP)A No.414/Ahd/2017 - AY 2012-13 Gemstone Glass Pvt.Ltd. Vs. The DCIT (successor in Pino Bisazza Circle-3(1)(1) Glass Pvt.Ltd.) Ahmedabad Plot No.12-E, GIDC Estate Gujarat Kadi [PAN No. AABCP 8041 Q) (Appellant) .. (Respondent) Appellant by : Shri Suhail Dutt, Shri Pawan Agarwal & Shri Sanjay R. Shah, ARs Respondent by : Ms. Vasundhara Upmanyu, CIT-DR Date of Hearing : 09/10/201…

Bisazza India Limited, Mehsana vs. The Income Tax Officer, Ward-1(1)(3), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 3543/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad16 May 2018AY 2012-13
Section 143(3)Section 92C

…ITA No.3543/Ahd/2016 Assessment Year: 2012-13 Page 1 of 8 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD ‘D’ BENCH, AHMEDABAD [Coram: Pramod Kumar AM and Madhumita Roy JM] Assessment Year: 2012-13 Bisazza India Pvt. Ltd., .......…………...........Appellant 372/2, B/h. GAIL Office, GIDC, Kadi – 382 715, (North Gujarat) Dist. Mehsana. [PAN : AAACB 6284 G] Vs. Income Tax Officer, Circle-1(1)(3), Ahmedabad. ............................Respondent Appearances by S.N. Soparkar for the appellant Saurabh Singh for the respondent Hearing concluded on: 09.05.2018 Order pronounced on : 16.05.2018 O R D E R Per Pramod…

Micro Inks Ltd. v. Asstt. CIT (36 Taxmann.com 50) — Cited in 16 Judgments | BharatTax