Pfizer Healthcare India (P) Ltd. Ors. v. JCIT & Anr.

DCIT CC 3(2) Cen RG 3, Mumbai vs. World Sports (India) P . Ltd, Mumbai

In the result, CO of the assessee is allowed and departments appeal stands dismissed

…Ltd. order on 30th January, 2014, the TP order is barred by limitation and for such a proposition, the Ld AR of the assessee relied on the following judicial precedents: Decision in the case of Hon’ble High Court/Tribunal Citation Pfizer Healthcare Madras HC 320 CTR 812 Saint Gobian (I) P Ltd Madras HC 328 CTR 387 Mondeleze India Mumbai ITAT 1492/Mum/2015 (Unrep) Emerson Electric Mumbai ITAT 141 Taxmann.com 186 Accenture Solution Mumbai ITAT 141 Taxmann.com 426 Louis Dreyfus Mumbai ITAT 138 Taxmann.com 556 Sigma Aldrich Bangalore ITAT 141 Taxmann.com 431 Tata Power Solar Bangalore ITAT 140 Taxmann.com 272 9. Th…

DCIT CC 3(2) Cen RG 3, Mumbai vs. World Sports (India) P . Ltd, Mumbai

In the result appeal of the assessee is allowed and CO as well as appeal of the learned Assessing Officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm Co No. 267/Mum/2019 (Arising In Ita No.5329/Mum/2017 For A.Y. 2010-11)

…ore 29th January, 2014 and therefore, there is delay of one day in passing the transfer pricing order. Therefore, the adjustment proposed by the learned Transfer Pricing Officer is barred by limitation. Accordingly, as held by the Hon'ble Madras High Court in 320 CTR 812 and 328 CTR 387 the order passed by the learned Transfer Pricing Officer is barred by the limitation. As the transfer pricing adjustment are invalid, the assessee is not falling in the definition of ‘eligible assessee’ as per provision of Section 144C (15) of the Act as assessee is not a foreign company. In view of this, the assessment order shou…

World Sports Group (India) Private Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle-20, Mumbai

In the result appeal of the assessee is allowed and CO as well as appeal of the learned Assessing Officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm Co No. 267/Mum/2019 (Arising In Ita No.5329/Mum/2017 For A.Y. 2010-11)

…ore 29th January, 2014 and therefore, there is delay of one day in passing the transfer pricing order. Therefore, the adjustment proposed by the learned Transfer Pricing Officer is barred by limitation. Accordingly, as held by the Hon'ble Madras High Court in 320 CTR 812 and 328 CTR 387 the order passed by the learned Transfer Pricing Officer is barred by the limitation. As the transfer pricing adjustment are invalid, the assessee is not falling in the definition of ‘eligible assessee’ as per provision of Section 144C (15) of the Act as assessee is not a foreign company. In view of this, the assessment order shou…

Ecl Finance Ltd., Mumbai vs. A.C.I.T. - 3(1)(2), Mumbai

In the result, this appeal by the assessee stands partly allowed

…AO in October, 2017] 6. Furthermore in support of the aforesaid provision of additional ground learned Counsel of the assessee placed reliance on the following case laws : 8 M/s. ECL Finance Limited • Pfizer Healthcare India (P) Ltd. Ors. Vs. JCIT & Anr. (320 CTR 812)(Mad) • M/s. Louis Dreyfus Commodities India Pvt. Ltd. Vs. DCIT (ITA No. 2381/Del/2014) 7. Furthermore learned Counsel of the assessee has also filed written submission on merits of the grounds relating to transfer pricing disputed before the ITAT, which read as under : “Grounds of appeal No 4: Adjustment on account of Rating Support Fees: This…