Pr. CIT v. Saxo India (P) Ltd.

397 ITR 160High Court2017#11648 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2023.

Issues it is cited on

section 144c(8)installation peconvertible foreign exchangemultiple year datasection 14a disallowancesection 92c(2)r&d expendituresection 92fsection 244related party transactionfar analysistransactional net margin method

Judgments citing Pr. CIT v. Saxo India (P) Ltd.

GLOBEGROUND INDIA PVT. LTD.,,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME-TAX, NEW DELHI

In the result, appeal is partly allowed

ITA 1072/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Jun 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Saktijit Deyassessment Year: 2010-11

Section 143(3)Section 144C

…segmental accounts prepared. It is now trite law that in absence of segmental data, a company should be rejected as a comparable. In this regard we draw support from wisdom of the Hon'ble Jurisdictional High Court in case of M/s Saxo India Limited reported in 397 ITR 160(Del) and M/s SEZ Gurgaon reported in 416 ITR 51(Del). Moreover, we find that Container Corporation of India is also not a service-oriented company as the ratio of employee cost is merely 1.65% (i.e. 55cr/ 3347cr). This is an important fact which merits consideration. The Ld DRP has itself made this as a ground while excluding M/s Cochin Internati…

M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 2(1) , INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

ITA 319/IND/2018[2013-14]Status: DisposedITAT Indore10 Apr 2023AY 2013-14

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri P.K. Mishra, CIT DR
Section 143(3)Section 144C(13)Section 144C(8)

…relevant segment with assessee. In view of the above a company with diversified functions cannot be compared to the assessee especially in the absence of segmental data. The Ld. AR relied upon the following decisions: - Pr. CIT vs. Saxo India (P) Ltd. [2017] 397 ITR 160 (Delhi) - Saxo India (P) Ltd vs. ACIT [2016] 176 TTJ 540 (Delhi - Trib.) - Alcatel-Lucent India Ltd vs DCIT [ITA No 6856/Del/2015] - Evonik Degussa India P Limited vs. ACIT (ITA No 7653/Mum/2011) The Ld. AR further pointed out that there is abnormally fluctuating margin related to this comparable. The company has a volatile margin trend for a pe…

M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. THE ACIT-CIRCLE 2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

ITA 292/IND/2017[2012-13]Status: DisposedITAT Indore10 Apr 2023AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri P.K. Mishra, CIT DR
Section 143(3)Section 144C(13)Section 144C(8)

…relevant segment with assessee. In view of the above a company with diversified functions cannot be compared to the assessee especially in the absence of segmental data. The Ld. AR relied upon the following decisions: - Pr. CIT vs. Saxo India (P) Ltd. [2017] 397 ITR 160 (Delhi) - Saxo India (P) Ltd vs. ACIT [2016] 176 TTJ 540 (Delhi - Trib.) - Alcatel-Lucent India Ltd vs DCIT [ITA No 6856/Del/2015] - Evonik Degussa India P Limited vs. ACIT (ITA No 7653/Mum/2011) The Ld. AR further pointed out that there is abnormally fluctuating margin related to this comparable. The company has a volatile margin trend for a pe…

M/S. COMPUTER SCIENCES CORPORATION INDIA PRIVATE LIMITED,INDORE vs. THE ASST. COMMISSIONER OF INCOME TAX-2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

ITA 179/IND/2016[2011-12]Status: DisposedITAT Indore10 Apr 2023AY 2011-12

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri P.K. Mishra, CIT DR
Section 143(3)Section 144C(13)Section 144C(8)

…relevant segment with assessee. In view of the above a company with diversified functions cannot be compared to the assessee especially in the absence of segmental data. The Ld. AR relied upon the following decisions: - Pr. CIT vs. Saxo India (P) Ltd. [2017] 397 ITR 160 (Delhi) - Saxo India (P) Ltd vs. ACIT [2016] 176 TTJ 540 (Delhi - Trib.) - Alcatel-Lucent India Ltd vs DCIT [ITA No 6856/Del/2015] - Evonik Degussa India P Limited vs. ACIT (ITA No 7653/Mum/2011) The Ld. AR further pointed out that there is abnormally fluctuating margin related to this comparable. The company has a volatile margin trend for a pe…

GLOBE GROUND INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

ITA 1479/DEL/2014[2009-10]Status: DisposedITAT Delhi30 Aug 2022AY 2009-10
For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Mahesh Shah, CIT DR
Section 143(3)Section 92CSection 92C(2)

…rces of revenues for these 2 companies. They are engaged in diversified actives with other sources of income also. There are no segmental accounts prepared. For lack of segmental data - alleged comparable is to be rejected refer Saxo India Limited reported in 397 ITR 160(Del) and SEZ Gurgaon reported in 416 ITR 51(Del). D. Once both the above comparable companies are excluded then the margins are within range {PLI of Tested Party is 3.91 % (refer page 132 of PB-1) and PLI of comparable company is 4.88% (refer page 24 pf PB-1) - the difference is within tolerance range (copy of computation is enclosed) hence no TP…

ASSISTANT COMMISSIONER OF INCOME TAX, BANGALORE vs. NVIDIA GRAPHICS PVT LTD, BANGALORE

In the result appeal filed by revenue stands dismissed and appeal filed by assessee stands allowed

ITA 736/BANG/2017[2011-12]Status: DisposedITAT Bangalore31 Aug 2021AY 2011-12

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2011 – 12

For Appellant: Shri Chavali Narayan, C.AFor Respondent: Shri Pradeep Kumar, CIT
Section 250

…company u/s.133(6) of the Act. The learned counsel for the Assessee in this regard pointed out that the Hon'ble Delhi High Court rejected a similar argument by the Revenue in the case of Pr. CIT v. Saxo India (P.) Ltd. [2016] 74 taxmann.com 88/243 Taxman 411/397 ITR 160. In the circumstances, this company was rightly held by the DRP to be not comparable. We are of the view that once a company becomes not Page 17 of 23 ITA No.736 & IT(TP)A No.801/Bang/2017 comparable for the reason that segmental information to apply filters, we need not consider any other aspect of comparability. The learned counsel for the Ass…

GLOBE GROUND INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal is allowed with

ITA 5711/DEL/2012[2008-09]Status: DisposedITAT Delhi30 Jun 2021AY 2008-09

Bench: The Lower Authorities, It Is Apparent That The Assessee Had Benchmarked Its International Transactions By Adopting The Transactional Net Margin Method (Tnmm) As The Most

Section 143(3)Section 92C

…mental accounts prepared. It is now trite law that in absence of segmental data, a company should be rejected as a comparable. In this regard we draw support from wisdom of the Hon’ble Jurisdictional High Court in case of M/s Saxo India Limited reported in 397 ITR 160(Del) and M/s SEZ Gurgaon reported in 416 ITR 51(Del). Moreover, we find that Container Corporation of India is also not a service-oriented company as the ratio of employee cost is merely 1.65% (i.e. 55cr/ 3347cr). This is an important fact which merits consideration. The Ld DRP has itself made this as a ground while excluding M/s Cochin Inter…

DCIT, BANGALORE vs. M/S BROADCOM COMMUNICATION TECHNOLOGIES PVT. LTD.,, BANGALORE

In the result appeal filed by revenue stands dismissed

ITA 482/BANG/2016[2011-12]Status: DisposedITAT Bangalore29 Oct 2020AY 2011-12

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiit(Tp)A No.482/Bang/2016 Assessment Year : 2011-12

For Appellant: Shri Sharath Rao, C.AFor Respondent: Shri Muzaffar Hussain, CIT (DR)
Section 143(3)Section 144C(13)

…company u/s.133(6) of the Act. The learned counsel for the Assessee in this regard pointed out that the Hon'ble Delhi High Court rejected a similar argument by the Revenue in the case of Pr. CIT v. Saxo India (P.) Ltd. [2016] 74 taxmann.com 88/243 Taxman 411/397 ITR 160. In the circumstances, this company was rightly held by the DRP to be not comparable. We are of the view that once a company becomes not comparable for the reason that segmental information to apply filters, we need not consider any other aspect of comparability. The learned counsel for the Assessee made submissions before us that this company wa…

GLOBE GROUND INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal are allowed with above direction

ITA 3630/DEL/2011[2007-08]Status: DisposedITAT Delhi18 Feb 2019AY 2007-08

Bench: Shri Prashant Maharishi & Shri K. N. Charyglobe Ground India Pvt. Ltd, The Deputy V C-9, Connaught House, Commissioner Of Income S. Connaught Place, Tax , New Delhi Circle-12(1), Pan: Aaacg8313K New Delhi

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Shri H.K. Chaudhary, CIT
Section 143Section 144CSection 92CSection 92C(2)

…fit and loss account can be separately worked out by taking out the figures and then deriving the margin of the comparable company, he submitted that the issue is squarely covered in favour of the assessee by the decision of the honourable Delhi High Court in 397 ITR 160 where the similar prayer was made and it was held that the revenue’s contention that the segment revenue and expenses are available in financials cannot be accepted. He submitted that the mere availability of the proportion of the turnover allocable for trading activities per se cannot lead to an assumption that segmental data for relevant facts…

Pr. CIT v. Saxo India (P) Ltd. (397 ITR 160) — Cited in 9 Judgments | BharatTax