What is Perot Systems TSI (India) Ltd. v. DCIT authority for?

The ITAT held that commercial expediency cannot be a ground to reject Arm's Length Price (ALP) adjustments for outstanding receivables, and ALP cannot be determined solely by adopting the lending rate of banks in India.

How many judgments cite Perot Systems TSI (India) Ltd. v. DCIT?

46 judgments on BharatTax cite Perot Systems TSI (India) Ltd. v. DCIT (37 SOT 358), spanning 2016 to 2026.

Which sections of the Income Tax Act does Perot Systems TSI (India) Ltd. v. DCIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 133A, Section 148, Section 271(1)(c), Section 147, Section 10AA.

Perot Systems TSI (India) Ltd. v. DCIT (37 SOT 358)

ACIT CENTRAL CIRCLE 2(3), AHMEDABAD vs. INTAS PHARMACEUTICALS LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 1842/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad24 Feb 2026AY 2016-17

Bench: Ms. Suchitra R. Kamble & Shri Narendra Prasad Sinhaasst. Commissioner Of M/S. Intas Pharmaceuticals Ltd., Vs. Income-Tax, Corporate House, S.G. Highway, Central Circle 2(3), Nr. Sola Bridge, Thaltej, Ahmedabad Ahmedabad-380 054 [Pan : Aaaci 5120 L] (Appellant) .. (Respondent) Appellant Represented By : Shri Sher Singh, Cit (Dr) Respondent Represented By: Shri S. N. Soparkar, Sr. Advocate & Ms. Urvashi Sodhan, Ar Date Of Hearing 07.01.2026 Date Of Pronouncement 24.02.2026 O R D E R Per Ms. Suchitra R. Kamble:-

Section 250

…cluded a forex risk adjustment of 100 basis points, considering the funds were advanced from India and repayments were subject to foreign exchange fluctuations. The CIT(A) also referred reliance of AO on the decision in Perot Systems TSI (India) Ltd. v. DCIT [37 SOT 358 (Del)], which emphasized that all international transactions with AEs must be benchmarked at Arm's Length Price (ALP), regardless of the commercial expediency claimed by the assessee. 7. The Authorised Representative (AR) of the assessee stated that the issue is covered by the decision of Co-ordinate Bench in assessee’s own case for the A.Y. 2013-…

D S TRADING,AHMEDABAD vs. THE ITO, WARD-1(1)(1), AHMEDABAD

In the result, appeal of the assessee is allowed

ITA 1885/AHD/2024[2021-22]Status: DisposedITAT Ahmedabad20 Jun 2025AY 2021-22

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Dhinal Shah, ARFor Respondent: Shri Prathvi Raj Meena, CIT-DR

Section 143(3)Section 271A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT MS. SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A. No. 1885/Ahd/2024 (Assessment Year: 2021-22) D S Trading Co., Income Tax Officer, Vs. 16-B, Kalyan Baug Society, Nr. Ward 1(1)(1), Old Dhor Bazar, Baliakaka Road, Ahmedabad. Kankaria, Ahmedabad-380028 [PAN : AAGFD 1637 E] (Appellant) .. (Respondent) Appellant by : Shri Dhinal Shah, AR Respondent by: Shri Prathvi Raj Meena, CIT-DR Date of Hearing 15.04.2025 Date of Pronouncement 20.06.2025 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- By way of this appeal, the assess…

DCIT-1(2)1, MUMBAI, MUMBAI vs. BOMBAY RAYON HOLDINGS LIMITED, MUMBAI

In the result, all the four appeals by the Revenue having common ground are dismissed

ITA 5606/MUM/2024[2010-11]Status: DisposedITAT Mumbai27 Feb 2025AY 2010-11

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri Kailash C, Kanojiya, CIT DR

Section 133ASection 143(3)Section 148Section 271(1)(c)

…f case laws. The assessee' s plea that it was for business expediency and that it was out of own funds have been correctly rejected by the authorities below. In this regard, the decision of ITAT Delhi Bench in the case of Perot Systems TSI (India) Ltd. [2010] 37 SOT 358 (Delhi) is relevant. In that case, the ITAT did not accept the arguments of commercial expediency as well as the reliance on the Hon'ble Supreme Court in the case of SA Builders. Similar view has been taken in other decisions referred above including Tata Autocomp systems Ltd 21 taxmann.com 6 (Mum.) vide order dated 30/04/2012. This decision was a…

DCIT-1(2)1, MUMBAI, MUMBAI vs. BOMBAY RAYON HOLDINGS LIMITED, MUMBAI

In the result, all the four appeals by the Revenue having common ground are dismissed

ITA 5605/MUM/2024[2011-12]Status: DisposedITAT Mumbai27 Feb 2025AY 2011-12

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri Kailash C, Kanojiya, CIT DR

Section 133ASection 143(3)Section 148Section 271(1)(c)

…f case laws. The assessee' s plea that it was for business expediency and that it was out of own funds have been correctly rejected by the authorities below. In this regard, the decision of ITAT Delhi Bench in the case of Perot Systems TSI (India) Ltd. [2010] 37 SOT 358 (Delhi) is relevant. In that case, the ITAT did not accept the arguments of commercial expediency as well as the reliance on the Hon'ble Supreme Court in the case of SA Builders. Similar view has been taken in other decisions referred above including Tata Autocomp systems Ltd 21 taxmann.com 6 (Mum.) vide order dated 30/04/2012. This decision was a…

DCIT-1(2)1, MUMBAI, MUMBAI vs. BOMBAY RAYON HOLDINGS LIMITED, MUMBAI

In the result, all the four appeals by the Revenue having common ground are dismissed

ITA 5604/MUM/2024[2013-14]Status: DisposedITAT Mumbai27 Feb 2025AY 2013-14

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri Kailash C, Kanojiya, CIT DR

Section 133ASection 143(3)Section 148Section 271(1)(c)

…f case laws. The assessee' s plea that it was for business expediency and that it was out of own funds have been correctly rejected by the authorities below. In this regard, the decision of ITAT Delhi Bench in the case of Perot Systems TSI (India) Ltd. [2010] 37 SOT 358 (Delhi) is relevant. In that case, the ITAT did not accept the arguments of commercial expediency as well as the reliance on the Hon'ble Supreme Court in the case of SA Builders. Similar view has been taken in other decisions referred above including Tata Autocomp systems Ltd 21 taxmann.com 6 (Mum.) vide order dated 30/04/2012. This decision was a…

DCIT-1(2)1, MUMBAI, MUMBAI vs. BOMBAY RAYON HOLDINGS LIMITED, MUMBAI

In the result, all the four appeals by the Revenue having common ground are dismissed

ITA 5603/MUM/2024[2014-15]Status: DisposedITAT Mumbai27 Feb 2025AY 2014-15

Bench: Shri Saktijit Dey, Hon’Ble & Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri Kailash C, Kanojiya, CIT DR

Section 133ASection 143(3)Section 148Section 271(1)(c)

…f case laws. The assessee' s plea that it was for business expediency and that it was out of own funds have been correctly rejected by the authorities below. In this regard, the decision of ITAT Delhi Bench in the case of Perot Systems TSI (India) Ltd. [2010] 37 SOT 358 (Delhi) is relevant. In that case, the ITAT did not accept the arguments of commercial expediency as well as the reliance on the Hon'ble Supreme Court in the case of SA Builders. Similar view has been taken in other decisions referred above including Tata Autocomp systems Ltd 21 taxmann.com 6 (Mum.) vide order dated 30/04/2012. This decision was a…

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…

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

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

ITA 1218/MUM/2021[2016-17]Status: DisposedITAT Mumbai24 Nov 2023AY 2016-17

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

Section 92CSection 92C(3)

…ryana). This was subsequently reiterated by the Hon'ble ITAT Delhi in Perot Systems TSI (India) Ltd. v Deputy Commissioner of Income-tax [2010] 5 Page No. 23 ITA NO. 752 & 2541/MUM/2022 (A.Y. 2017-18 & 2018-19) Thomas Cook (India) Limited ITR (T) 106, [2010] 37 SOT 358, [2010] 130 TTJ 685 (Delhi). Thus, the substance of the transaction has to be judged under the transfer pricing regulations. In this regard, compliance to Companies Act and SEBI regulations does not put a seal of approval on the true character of the transaction from the perspective of transfer pricing regulations. e) The very essence of transfer…