Mobis India Ltd. v. Dy. CIT

38 Taxmann.com 231Income Tax Appellate Tribunal2013#3122 most cited

What is Mobis India Ltd. v. Dy. CIT authority for?

A working capital adjustment is unreliable if it is based on broad approximations, estimations, and assumptions, and the assessee fails to demonstrate how the adjustment was arrived at.

38

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2024.

Also referred to as

Mobis India Ltd. v. Dy. CIT · working capital adjustment · arm's length price · section 92a · related party transaction · transactional net margin method · comparable companies · most appropriate method · ITAT Chennai

Also reported as

61 SOT 40

Sections most often in play

Section 143(3)Section 144C(1)Section 144C(13)

Issues it is cited on

working capital adjustmenttested partyeconomic adjustmentsection 92aspecified domestic transactiontransactional net margin methodrelated party transactionmultiple year datacomparable companiesmost appropriate methodinterest on outstanding receivablesarm's length price

Judgments citing Mobis India Ltd. v. Dy. CIT

M/S Tokai Rika Minda India Pvt Ltd, Bangalore vs. Deputy Commissioner of Income Tax Cicle-7(1)(1), Bangalore

In the result, the assessee’s appeal is partly allowed for statistical purposes

ITA 1513/BANG/2017[2013-14]Status: DisposedITAT Bangalore29 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri K.R. Vasudevan, A.RFor Respondent: Dr. Manjunath Karkihalli, D.R
Section 143(3)Section 92CSection 92C(2)

…IT(TP)A No.1513/Bang/2017 M/s. Tokai Rika Minda India Pvt. Ltd., Nelamangala Taluk IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(TP)A No.1513/Bang/2017 Assessment Year: 2013-14 M/s. Tokai Rika Minda India Pvt. Ltd. Plot No.365 Sompura KIADB Industrial Area Deputy Commissioner of Dobba Set Vs. Income-tax Nelamangala Taluk Circle 7(1)(1) Bangalore Rural Dist 562 111 Bangalore PAN NO : AADCT0271C APPELLANT RESPONDENT Appellant by : Shri K.R. Vasudevan, A.R. Respondent by : Dr. Manjunath Karkihalli, D.R. Da…

M/S. Walvoil Fluid Power (India) Private Limited, Bengaluru vs. Deputy Commissioner of Income Tax, Circle- 7(1)(2), Bengaluru

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

ITA 1839/BANG/2019[2007-08]Status: DisposedITAT Bangalore27 Jun 2022AY 2007-08

Bench: Smt. Beena Pillai & Ms. Padmavathy S

For Appellant: Shri R.E. Balasubramaniyan, CAFor Respondent: Smt. Susan Dolores George, CIT(OSD)(DR)
Section 143(3)Section 154Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER IT(TP)A No.1839/Bang/2019 Assessment year : 2007-08 Walvoil Fluid Power India Pvt. Ltd., Vs. The Deputy Commissioner No.19, 2nd Cross, 2nd Main, of Income Tax, KIADB Attibele Industrial Area, Circle 7(1)(2), Attibele, Anekal Taluk, Bengaluru. Bengaluru – 562 107. PAN: AAACW 5954E APPELLANT RESPONDENT Appellant by : Shri R.E. Balasubramaniyan, CA Respondent by : Smt. Susan Dolores George, CIT(OSD)(DR), ITAT, Bangalore. Date of hearing : 07.06.2022 Date of Pronouncement :…

Ametek Instruments India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle-1(1)(1), Bengaluru

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

ITA 432/BANG/2021[2016-17]Status: DisposedITAT Bangalore13 Jun 2022AY 2016-17

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.432/Bang/2021 : Asst.Year 2016-2017 M/S. Ametek Instruments India The Assistant Commissioner Private Limited Of Income-Tax, Circle 1(1)(1) V. Benguluru. Plot No.1, Epip Industrial Area, Divyashree Nr Enclave, 4Th Floor Block A, Whitefield Bengaluru – 560 066. Pan : Aahca2869B. (Appellant) (Respondent)

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Dr.Manjunath Karkihalli, CIT -DR
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “B”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM IT(TP)A No.432/Bang/2021 : Asst.Year 2016-2017 M/s. Ametek Instruments India The Assistant Commissioner Private Limited of Income-tax, Circle 1(1)(1) v. Benguluru. Plot No.1, EPIP Industrial Area, Divyashree NR Enclave, 4th Floor Block A, Whitefield Bengaluru – 560 066. PAN : AAHCA2869B. (Appellant) (Respondent) Appellant by : Sri.K.R.Vasudevan, Advocate Respondent by : Dr.Manjunath Karkihalli, CIT -DR Date of Pronouncement : 13.06.2022 Date of Hearing : 01.06.2022 O R D E R Per George Geo…

M/S.Tokai Rika Minda India Pvt. Ltd., Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

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

ITA 2327/BANG/2016[2012-13]Status: DisposedITAT Bangalore08 Apr 2022AY 2012-13

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.2327/Bang/2016 : Asst.Year 2012-2013 M/S.Tokai Rika Minda India The Deputy Commissioner Of Private Limited Income-Tax, Circle 7(1)(1) V. Bangalore. Plot No.365, Sompura 1St Stage Kiadb Industrial Area Dobbaspet, Nelamangala Taluk Bangalore Rural Dist – 562 111. Pan : Aadct0271C. (Appellant) (Respondent) Appellant By : Sri.K.R.Vasudevan, Advocate Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 08.04.2022 Date Of Hearing : 22.03.2022

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM IT(TP)A No.2327/Bang/2016 : Asst.Year 2012-2013 M/s.Tokai Rika Minda India The Deputy Commissioner of Private Limited Income-tax, Circle 7(1)(1) v. Bangalore. Plot No.365, Sompura 1st Stage KIADB Industrial Area Dobbaspet, Nelamangala Taluk Bangalore Rural Dist – 562 111. PAN : AADCT0271C. (Appellant) (Respondent) Appellant by : Sri.K.R.Vasudevan, Advocate Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 08.04.2022 Date of Hearing : 22.03.2022 O R D E R Per George George K…

M/S Brady Company India Private Limited, Bangalore vs. Income Tax Officer Ward-1(1)(4), Bangalore

In the result, ground 26 is allowed for statistical purposes

ITA 790/BANG/2019[2014-15]Status: DisposedITAT Bangalore22 Mar 2022AY 2014-15

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.103/Bang/2019 : Asst.Year 2014-2015 It(Tp)A No.790/Bang/2019 : Asst.Year 2014-2015 M/S.Brady Company India Private The Income Tax Officer Limited, No.26, Survey No.41 Ward 1(1)(4) V. Bengaluru. Konappana Agrahara Village Begur, Hobli, Electronci City, Phase-Ii, Bengaluru – 560 100. Pan : Aaccb8163A (Appellant) (Respondent) Appellant By : Sri.K.R.Vasudevan, Advocate Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 22.03.2022 Date Of Hearing : 07.03.2022 O R D E R Per George George K, Jm : These Appeals Are At The Instance Of The Assessee. The Relevant Assessment Year Is 2014-2015. 2. The Reason For Filing Two Appeals For Assessment Year 2014-2015 Is That Pursuant To The Dispute Resolution Panel’S (Drp) Directions (Directions Dated 28.09.2008), The A.O. Passed Final Assessment Order U/S 143(3) R.W.S. 144C Of The I.T.Act Dated 15.11.2018. In The Said Assessment Order, The Aggregate Transfer Pricing Adjustment Was Determined At Rs.14,43,51,081. An Appeal Has Been Filed Before The Tribunal Against The Order U/S 143(3) R.W.S. 144C Of The I.T.Act (Appeal No.It(Tp)A No.103/Bang/2019). Subsequently, On Application By The Assessee, The Drp Passed Rectification Order Dated

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM IT(TP)A No.103/Bang/2019 : Asst.Year 2014-2015 IT(TP)A No.790/Bang/2019 : Asst.Year 2014-2015 M/s.Brady Company India Private The Income Tax Officer Limited, No.26, Survey No.41 Ward 1(1)(4) v. Bengaluru. Konappana Agrahara Village Begur, Hobli, Electronci City, Phase-II, Bengaluru – 560 100. PAN : AACCB8163A (Appellant) (Respondent) Appellant by : Sri.K.R.Vasudevan, Advocate Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 22.03.2022 Date of Hearing : 07.03.2022 O R D E R…

M/S Brady Company India Private Limited, Bangalore vs. Income Tax Officer Ward-1(1)(4), Bangalore

In the result, ground 26 is allowed for statistical purposes

ITA 103/BANG/2019[2014-15]Status: DisposedITAT Bangalore22 Mar 2022AY 2014-15

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.103/Bang/2019 : Asst.Year 2014-2015 It(Tp)A No.790/Bang/2019 : Asst.Year 2014-2015 M/S.Brady Company India Private The Income Tax Officer Limited, No.26, Survey No.41 Ward 1(1)(4) V. Bengaluru. Konappana Agrahara Village Begur, Hobli, Electronci City, Phase-Ii, Bengaluru – 560 100. Pan : Aaccb8163A (Appellant) (Respondent) Appellant By : Sri.K.R.Vasudevan, Advocate Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 22.03.2022 Date Of Hearing : 07.03.2022 O R D E R Per George George K, Jm : These Appeals Are At The Instance Of The Assessee. The Relevant Assessment Year Is 2014-2015. 2. The Reason For Filing Two Appeals For Assessment Year 2014-2015 Is That Pursuant To The Dispute Resolution Panel’S (Drp) Directions (Directions Dated 28.09.2008), The A.O. Passed Final Assessment Order U/S 143(3) R.W.S. 144C Of The I.T.Act Dated 15.11.2018. In The Said Assessment Order, The Aggregate Transfer Pricing Adjustment Was Determined At Rs.14,43,51,081. An Appeal Has Been Filed Before The Tribunal Against The Order U/S 143(3) R.W.S. 144C Of The I.T.Act (Appeal No.It(Tp)A No.103/Bang/2019). Subsequently, On Application By The Assessee, The Drp Passed Rectification Order Dated

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM IT(TP)A No.103/Bang/2019 : Asst.Year 2014-2015 IT(TP)A No.790/Bang/2019 : Asst.Year 2014-2015 M/s.Brady Company India Private The Income Tax Officer Limited, No.26, Survey No.41 Ward 1(1)(4) v. Bengaluru. Konappana Agrahara Village Begur, Hobli, Electronci City, Phase-II, Bengaluru – 560 100. PAN : AACCB8163A (Appellant) (Respondent) Appellant by : Sri.K.R.Vasudevan, Advocate Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 22.03.2022 Date of Hearing : 07.03.2022 O R D E R…

Walvoil Fluid Power India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-7(1)(2), Bangalore

In the result, appeal of the assesee is partly allowed

ITA 1901/BANG/2017[2013-14]Status: DisposedITAT Bangalore21 Mar 2022AY 2013-14

Bench: Shri George George K & Ms. Padmavathy S

For Appellant: Shri R.E Balasubramanyam, C.AFor Respondent: Shri A Sreenivasa Rao, CIT(DR)
Section 143(2)Section 143(3)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, JUDICIAL MEMBER AND MS. PADMAVATHY S, ACCOUNTANT MEMBER IT(TP)A No.1901/Bang/2017 Assessment year : 2013-14 M/s Walvoil Fluid Power India Pvt. Vs. The Dy. Commissioner of Income- Ltd., tax, 23 & 25, Behind Graphite India Circle-7(1)(2), Mahadevpura Post, Bengaluru. Doddanakundi Industrial Estate, Bengaluru. PAN – AAACW 5954 E APPELLANT RESPONDENT Assessee by : Shri R.E Balasubramanyam, C.A Revenue by : Shri A Sreenivasa Rao, CIT(DR) Date of hearing : 16.03.2022 Date of Pronouncement : 21.03.2022 O R D E R Per Padmavath…

Bharat Vijaykumar Jain (HUF), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 2(2), Bangalore

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

ITA 246/BANG/2021[2016-17]Status: DisposedITAT Bangalore14 Feb 2022AY 2016-17

Bench: Shri George George K & Ms. Padmavathy S

For Appellant: Shri Narendra Kumar Jain, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)
Section 139(1)Section 143(2)Section 143(3)Section 234BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, JUDICIAL MEMBER AND MS. PADMAVATHY S, ACCOUNTANT MEMBER IT(TP)A No.246/Bang/2021 Assessment year : 2016-17 Bharat Vijaykumar Jain (HUF), Vs. The Dy. Commissioner of No.701, 11th Main Road, Income-tax, 4th Block, Jayanagar, Circle-2(2), Bengaluru. Bengaluru-560 011. PAN – AAIHB 7841 N APPELLANT RESPONDENT Assessee by : Shri Narendra Kumar Jain, Advocate Revenue by : Shri Muzaffar Hussain, CIT(DR) Date of hearing : 10.02.2022 Date of Pronouncement : 14.02.2022 O R D E R Per Padmavathy S, Accountant Member This appeal by…

M/S Moog India Technology Center Private Limited, Bangalore vs. Income Tax Officer Ward-4(1)(4), Bangalore

In the result, appeal of the Assessee is partly allowed

ITA 394/BANG/2019[2011-12]Status: DisposedITAT Bangalore29 Nov 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.394/Bang/2019 Assessment Year : 2011-12

For Appellant: Shri. K. R. Vasudevan & Smt.Rashmi, AdvocateFor Respondent: Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 144C(13)Section 92Section 92(1)Section 92B(1)Section 92C

…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.394/Bang/2019 Assessment Year : 2011-12 M/s. Moog India Technology Centre Private Limited, Vs. The Income Tax Officer, No.1, 2 and 3, Hosur Main Road, Ward - 4(1)(4), Electronic City, Bengaluru. Bengaluru-560 100. PAN:AAGCM 3566 Q APPELLANT RESPONDENT Appellant by : Shri. K. R. Vasudevan & Smt.Rashmi, Advocate Respondent by : Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru Date of hearing : 23.11.2021 Date of Pronouncement : 29.11.2021 O R D E R Per N. V. V…

The Joint Commissioner of Income Tax Special Range-3, Bangalore vs. M/S Huawei Technologies India Pvt Ltd, Bangalore

In the result, both the appeals by the assessee and revenue are partly allowed

ITA 370/BANG/2019[2014-15]Status: DisposedITAT Bangalore22 Jul 2021AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Mr. Aliasger Rampurawala, AdvocateFor Respondent: Mr. Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 133(6)Section 234BSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.339/Bang/2019 & Assessment year : 2014-15 M/s. Huawei Technologies India Vs. The Assistant Commissioner Private Ltd., SYNO 37, 46, 45/3, 45/4, of Income Tax, ETC, KNO 1540, Divyashree Park, Near Special Range 3, EPIP Industrial Area, Bangalore. Kundalahalli Village, Bangalore – 560 037. PAN: AAACH 8599L APPELLANT RESPONDENT & IT(TP)A No.370/Bang/2019 Assessment year : 2014-15 The Joint Commissioner Vs. M/s. Huawei Technologies of Income Tax, India Private Lt…

M/S Huawei Technologies India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result, both the appeals by the assessee and revenue are partly allowed

ITA 339/BANG/2019[2014-15]Status: DisposedITAT Bangalore22 Jul 2021AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Mr. Aliasger Rampurawala, AdvocateFor Respondent: Mr. Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 133(6)Section 234BSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.339/Bang/2019 & Assessment year : 2014-15 M/s. Huawei Technologies India Vs. The Assistant Commissioner Private Ltd., SYNO 37, 46, 45/3, 45/4, of Income Tax, ETC, KNO 1540, Divyashree Park, Near Special Range 3, EPIP Industrial Area, Bangalore. Kundalahalli Village, Bangalore – 560 037. PAN: AAACH 8599L APPELLANT RESPONDENT & IT(TP)A No.370/Bang/2019 Assessment year : 2014-15 The Joint Commissioner Vs. M/s. Huawei Technologies of Income Tax, India Private Lt…

Assistant Commissioner of Income Tax Circle-3(1)(2), Bangalore vs. M/S Gxs India Technology Pvt Ltd, Bangalore

In the result, the appeal by the revenue is dismissed, while the appeal by the assessee is partly allowed

ITA 2142/BANG/2017[2010-11]Status: DisposedITAT Bangalore04 Jan 2021AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2007-08

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Priyadarshi Mishra, JCIT(DR)(ITAT), Bangalore
Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment year : 2007-08 M/s GXS India Technology Centre Pvt. Ltd., Vs. The Income Tax Officer, No.436, Infinity, Ground 1st , 3rd & 4th Floors, Ward 11(2), Off. Koramangala, Indiranagar, Intermediate Bangalore. Ring Road, Challaghatta-Domlur, Bangalore-560 071. PAN: AABCG 7972P APPELLANT RESPONDENT IT(TP)A No.2142/Bang/2017 Assessment year : 2010-11 The Deputy Commissioner of Vs. M/s GXS India Technology Income Tax, Centre Pvt.Ltd. Circle-3(1)(2), Bangalore. PAN: A…

M/S Gxs India Technology Centre Pvt Ltd, Bangalore vs. Income Tax Officer Ward-11(2), Bangalore

In the result, the appeal by the revenue is dismissed, while the appeal by the assessee is partly allowed

ITA 2029/BANG/2017[2007-08]Status: DisposedITAT Bangalore04 Jan 2021AY 2007-08

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2007-08

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Priyadarshi Mishra, JCIT(DR)(ITAT), Bangalore
Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment year : 2007-08 M/s GXS India Technology Centre Pvt. Ltd., Vs. The Income Tax Officer, No.436, Infinity, Ground 1st , 3rd & 4th Floors, Ward 11(2), Off. Koramangala, Indiranagar, Intermediate Bangalore. Ring Road, Challaghatta-Domlur, Bangalore-560 071. PAN: AABCG 7972P APPELLANT RESPONDENT IT(TP)A No.2142/Bang/2017 Assessment year : 2010-11 The Deputy Commissioner of Vs. M/s GXS India Technology Income Tax, Centre Pvt.Ltd. Circle-3(1)(2), Bangalore. PAN: A…

M/S Maxim India Intergrated Circuit Design Pvt Ltd, Bangalore vs. The Deputy Commissioner of Income Tax Circle-4(1)(2), Bangalore

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

ITA 1573/BANG/2017[2013-14]Status: DisposedITAT Bangalore02 Nov 2020AY 2013-14

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

For Appellant: Shri Padamchand Khincha, A.RFor Respondent: Shri Gollapinni Mallikarjuna, D.R
Section 143(3)Section 234CSection 40

…IT(TP)A No.1573/Bang/2017 M/s. Maxim India Integrated Circuit Design Pvt. Ltd., Bengaluru IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(TP)A No.1573/Bang/2017 Assessment Year: 2013-14 M/s. Maxim India Integrated Circuit Design Pvt. Ltd. Deputy 4th Floor Tower B, Commercio @ Mantri, Commissioner of Survey No.51/2, 51/3, 51/4, Income-tax Devarabesanahalli Vs. Circle-4(1)(2) Kariyammana Agrahara VarthurHobli Bengaluru Bengaluru-560 103 PAN NO :AACCM9437E APPELLANT RESPONDENT Appellant by : Shri Padamchand Khin…

M/S.Allianz Cornhill Information Services P. Ltd, Trivandrum vs. Jtcit, Trivandrum

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

ITA 191/COCH/2015[2010-11]Status: DisposedITAT Cochin20 Dec 2019AY 2010-11

Bench: S/Shri Chandra Poojari, Am & George George K., Jm Assessment Year : 2010-11

Section 10BSection 144C(5)Section 92C(2)

…tually the AEs. The assessee had not also incurred any interest expenditure. Thus, the assessee is not eligible for working capital adjustment. The Ld. DR relied on the decision of the Tribunal in 29 & 185/Coch/2015 the case of Mobis India Pvt. Ltd. vs. DCIT (61 SOT 40) (Chennai) wherein it was held as follows: “29. Coming to the aspect of adjustment pleaded by the assessee for negative working capital, no doubt, in the case of Demag Cranes & Components (India) (P) Ltd, (supra), it was held that adjustment had to be granted for eliminating material effects, if any, arising out of difference in working capital be…

The Jt CIT, Trivandrum vs. Allianz Cornhill Information Services P. Ltd, Trivandrum

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

ITA 185/COCH/2015[2010-11]Status: DisposedITAT Cochin20 Dec 2019AY 2010-11

Bench: S/Shri Chandra Poojari, Am & George George K., Jm Assessment Year : 2010-11

Section 10BSection 144C(5)Section 92C(2)

…tually the AEs. The assessee had not also incurred any interest expenditure. Thus, the assessee is not eligible for working capital adjustment. The Ld. DR relied on the decision of the Tribunal in 29 & 185/Coch/2015 the case of Mobis India Pvt. Ltd. vs. DCIT (61 SOT 40) (Chennai) wherein it was held as follows: “29. Coming to the aspect of adjustment pleaded by the assessee for negative working capital, no doubt, in the case of Demag Cranes & Components (India) (P) Ltd, (supra), it was held that adjustment had to be granted for eliminating material effects, if any, arising out of difference in working capital be…

M/S.Speridian Technologies P. Ltd, Trivandrum vs. The ACIT, Circle-1(1), Trivandrum

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

ITA 330/COCH/2017[2013-14]Status: DisposedITAT Cochin09 Oct 2019AY 2013-14

Bench: S/Shri Abraham P. George, Am & George George K., Jm

Section 133(6)Section 144C(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI ABRAHAM P. GEORGE, AM & GEORGE GEORGE K., JM I.T.A. No.330/Coch/2017 Assessment Year : 2013-14 Speridian Technologies Private Vs. The Assistant Commissioner of Limited, Income-tax, Circle-1(1), G-2, Thejaswini Technopark Trivandrum Campus, Karyavattom P.O., Trivandrum-695 581. PAN:AAJCS 4363C] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri Rajakannan, Adv. Revenue by Shri Shantam Bose, CIT(DR) Date of hearing 24/09/2019 Date of pronouncement 09/10/2019 O R D E R PER CHANDRA POOJARI: AM This appeal filed by the ass…

Mitsuba Sical India Pvt. Limited, Gummidipoondi vs. DCIT, Chennai

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

ITA 400/CHNY/2017[2012-13]Status: DisposedITAT Chennai03 May 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. No.400/Chny/2017 "नधा"रण वष" /Assessment Year : 2012-2013. Mitsuba Sical India Private Vs. The Deputy Commissioner Of Limited, Income Tax, (Previously Mitsuba Sical (India Corporate Circle 4(1) Ltd) Chennai. No.8,Sipcot Industrial Complex, Gummidipoondi 601 201. [Pan Aaccm 4446M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Vijayaraghavan and ShriFor Respondent: Shri. Srinivasa Rao, IRS, CIT
Section 144C

…se of CIT vs. Keihin Panalfa Ltd (2016) 381 ITR 407 and that of Hon’ble Bombay High Court in the case of CIT vs. Alstom Projects India Ltd (2016) 97 CCH 149 and a also decision of the Co-ordinate Bench in the case of M/s. Mobis India Ltd. vs. DCIT, (2014) 61 SOT 40. 5. Per contra, ld. Departmental Representative strongly supported the orders of the authorities below. We have considered the rival contentions and perused the 6. orders of the authorities below. The method by which the ld. TPO had worked out the adjustment to be made on international transactions of the assessee with its Associated Enterprise…