Price Water House v. CIT

50 Taxmann.com 272High Court2014#7943 most cited

What is Price Water House v. CIT authority for?

The Assessing Officer must form a prima facie satisfaction based on the information available, such as Form 3CEB, before initiating transfer pricing proceedings.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2024.

Also referred to as

Price Water House v. CIT · transfer pricing adjustment · associated enterprises · section 92 · international transaction · prima facie satisfaction · Assessing Officer · Form 3CEB

Issues it is cited on

arm's length priceassociated enterprisestransfer pricing adjustmentassociated enterprisesection 92international transactionsection 234atransferprescribedpersoncompanyindia

Judgments citing Price Water House v. CIT

Ge Healthcare Finland Oy(Formerly Known As Instrumentarium Corporation Ltd, Bangalore vs. Dy. Director of Income Tax (International Taxation -1(1), Kolkata

In the result, all the two appeals of the assessee are allowed in part

ITA 311/KOL/2021[2007-08]Status: DisposedITAT Kolkata05 Apr 2024AY 2007-08

Bench: Shri Rajpal Yadav, Vice- & Shri Girish Agrawal]

Section 144Section 148Section 234ASection 250Section 9Section 92Section 92C

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA [Before Shri Rajpal Yadav, Vice-President & Shri Girish Agrawal, Accountant Member] I.T.A. Nos.310&311/Kol/2021 Assessment Years: 2005-06 & 2007-08 GE Healthcare Finland Oy Vs. DCIT(International Taxation)-1(1), (formerly known as Kolkata Instrumentarium Corporation Ltd.) (PAN:AADCG1535E) ( अपीलाथ" ) Respondent / ""यथ" Appellant / Date of Hearing / सुनवाई क" "त"थ 01.04.2024 Date of Pronouncement/ आदेश उ"घोषणा 05.04.2024 क" "त"थ For the Appellant/ "नधा"रती क" ओर से Shri Sachit Jolly and Himani Seth, AR For the R…

Ge Healthcare Finland Oy(Formerly Known As Instrumentarium Corporation Ltd, Bangalore vs. Dy. Director of Income Tax (International Taxation -1(1), Kolkata

In the result, all the two appeals of the assessee are allowed in part

ITA 310/KOL/2021[2005-06]Status: DisposedITAT Kolkata05 Apr 2024AY 2005-06

Bench: Shri Rajpal Yadav, Vice- & Shri Girish Agrawal]

Section 144Section 148Section 234ASection 250Section 9Section 92Section 92C

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA [Before Shri Rajpal Yadav, Vice-President & Shri Girish Agrawal, Accountant Member] I.T.A. Nos.310&311/Kol/2021 Assessment Years: 2005-06 & 2007-08 GE Healthcare Finland Oy Vs. DCIT(International Taxation)-1(1), (formerly known as Kolkata Instrumentarium Corporation Ltd.) (PAN:AADCG1535E) ( अपीलाथ" ) Respondent / ""यथ" Appellant / Date of Hearing / सुनवाई क" "त"थ 01.04.2024 Date of Pronouncement/ आदेश उ"घोषणा 05.04.2024 क" "त"थ For the Appellant/ "नधा"रती क" ओर से Shri Sachit Jolly and Himani Seth, AR For the R…

Xchanging Solutions Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Circle-7(1)(1), Bangalore

In the result, the appeal is partly allowed

ITA 292/BANG/2022[2017-18]Status: DisposedITAT Bangalore21 Dec 2022AY 2017-18

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri K. Sankar Ganesh, Jt.CIT(DR)(ITAT), Bengaluru
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER IT(TP)A No.292/Bang/2022 Assessment year : 2017-18 Xchanging Solutions Limited, Vs. The Assessing Officer, Kalyani Tech Park, National Faceless Assessment Centre, Magnolia Building, Survey 1#, 6 & 24, Delhi [/ ITPL Main Road, K R Puram Hobli, DCIT, Circle 7(1)(1), Bangalore – 560 066. Bangalore]. PAN: AAFCS 9303L ASSESSEE RESPONDENT Assessee by : Shri Padamchand Khincha, CA Respondent by : Shri K. Sankar Ganesh, Jt.CIT(DR)(ITAT), Bengaluru. Date of hearing : 05.12.2022…

JCIT, Bangalore vs. M/S Biocon Ltd., Bangalore

In the result appeal filed by assessee for assessment year

ITA 558/BANG/2016[2011-12]Status: DisposedITAT Bangalore12 Nov 2021AY 2011-12

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

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Muzaffar Hussain, CIT (DR)
Section 143(3)Section 144CSection 144C(5)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “B” BENCH: BANGALORE BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SMT BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year M/s. Biocon The Deputy Ltd., Commissioner IT(TP)A No. of Income Tax, 2009-10 20th KM, Hosur 230/Bang/2014 Road, LTU, Electronic City, Bangalore. Bangalore – The Joint IT(TP)A No. 560100. Commissioner 2011-12 557/Bang/2016 PAN: of Income Tax, AAACB7461R LTU, Bangalore. M/s. Biocon Ltd., 20th KM, Hosur The Joint Road, IT(TP)A No. Commissioner Electronic City, 2011-12 558/Bang/2016 of Income Tax, Bangalore – LT…

Biocon Limited, Bangalore vs. JCIT, Bangalore

In the result appeal filed by assessee for assessment year

ITA 557/BANG/2016[2011-12]Status: DisposedITAT Bangalore12 Nov 2021AY 2011-12

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

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Muzaffar Hussain, CIT (DR)
Section 143(3)Section 144CSection 144C(5)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “B” BENCH: BANGALORE BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SMT BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year M/s. Biocon The Deputy Ltd., Commissioner IT(TP)A No. of Income Tax, 2009-10 20th KM, Hosur 230/Bang/2014 Road, LTU, Electronic City, Bangalore. Bangalore – The Joint IT(TP)A No. 560100. Commissioner 2011-12 557/Bang/2016 PAN: of Income Tax, AAACB7461R LTU, Bangalore. M/s. Biocon Ltd., 20th KM, Hosur The Joint Road, IT(TP)A No. Commissioner Electronic City, 2011-12 558/Bang/2016 of Income Tax, Bangalore – LT…

Bombay Rayon Holdings Limited, Mumbai vs. ITO-9(2)(2), Mumbai

In the result, appeals of the assessee are partly allowed

ITA 5986/MUM/2018[2009-10]Status: DisposedITAT Mumbai06 Jan 2020AY 2009-10

Bench: Shri Shamim Yahya & Shri Pawan Singh

For Appellant: Shri. Madhur Agrawal, Shri Ajit KumarFor Respondent: Shri. Anand Mohan
Section 131Section 133Section 143(3)Section 144CSection 144C(13)Section 148Section 92(1)Section 92C(1)

…e funds. The DRP referred to ITAT special bench decision in the case of instrumental Corporation Ltd versus ACIT 160 ITD 1 Kolkatta Tribunal special bench. It also referred to the decision of ITAT in the case of PMP Auto Components private limited versus DCIT 50 Taxmann.com 272 and also the decision of ITAT in the case of Tata Autocomp systems Ltd versus ACIT 21 Taxmann.com 6. Referring to the ITAT decisions as referred above DRP held that these decisions also negate the arguments of the assessee that the interest was not charged since the AE could not get access to the funds from any other source in the internat…

M/S. Sava Healthcare Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

ITA 1067/PUN/2017[2012-13]Status: DisposedITAT Pune27 Jun 2019AY 2012-13

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

For Appellant: Shri Kishore PhadkeFor Respondent: Ms Nandita Kanchan
Section 143(3)Section 144CSection 144C(8)Section 92C(3)

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1062 to 1068/PUN/2017 यििाारण वषा / Assessment Years : 2007-08 to 2013-14 M/s. Sava Healthcare Ltd. (earlier known as Anagha Pharma Pvt. Ltd.) Sava House, 3rd Floor, Lawani Plaza, B-Wing, Plot No.57/58, Sakorenagar, Vimannagar अऩीऱाथी/Appellant Pune – 411014 …. PAN: AAECA9456D Vs. The Asst. Commissioner of Income Tax, …. प्रत्यथी / Respondent Central C…

M/S. Sava Healthcare Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

ITA 1066/PUN/2017[2011-12]Status: DisposedITAT Pune27 Jun 2019AY 2011-12

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

For Appellant: Shri Kishore PhadkeFor Respondent: Ms Nandita Kanchan
Section 143(3)Section 144CSection 144C(8)Section 92C(3)

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1062 to 1068/PUN/2017 यििाारण वषा / Assessment Years : 2007-08 to 2013-14 M/s. Sava Healthcare Ltd. (earlier known as Anagha Pharma Pvt. Ltd.) Sava House, 3rd Floor, Lawani Plaza, B-Wing, Plot No.57/58, Sakorenagar, Vimannagar अऩीऱाथी/Appellant Pune – 411014 …. PAN: AAECA9456D Vs. The Asst. Commissioner of Income Tax, …. प्रत्यथी / Respondent Central C…

M/S. Sava Healthcare Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

ITA 1065/PUN/2017[2010-11]Status: DisposedITAT Pune27 Jun 2019AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

For Appellant: Shri Kishore PhadkeFor Respondent: Ms Nandita Kanchan
Section 143(3)Section 144CSection 144C(8)Section 92C(3)

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1062 to 1068/PUN/2017 यििाारण वषा / Assessment Years : 2007-08 to 2013-14 M/s. Sava Healthcare Ltd. (earlier known as Anagha Pharma Pvt. Ltd.) Sava House, 3rd Floor, Lawani Plaza, B-Wing, Plot No.57/58, Sakorenagar, Vimannagar अऩीऱाथी/Appellant Pune – 411014 …. PAN: AAECA9456D Vs. The Asst. Commissioner of Income Tax, …. प्रत्यथी / Respondent Central C…

M/S. Sava Healthcare Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

ITA 1064/PUN/2017[2009-10]Status: DisposedITAT Pune27 Jun 2019AY 2009-10

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

For Appellant: Shri Kishore PhadkeFor Respondent: Ms Nandita Kanchan
Section 143(3)Section 144CSection 144C(8)Section 92C(3)

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1062 to 1068/PUN/2017 यििाारण वषा / Assessment Years : 2007-08 to 2013-14 M/s. Sava Healthcare Ltd. (earlier known as Anagha Pharma Pvt. Ltd.) Sava House, 3rd Floor, Lawani Plaza, B-Wing, Plot No.57/58, Sakorenagar, Vimannagar अऩीऱाथी/Appellant Pune – 411014 …. PAN: AAECA9456D Vs. The Asst. Commissioner of Income Tax, …. प्रत्यथी / Respondent Central C…

M/S. Sava Healthcare Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

ITA 1063/PUN/2017[2008-09]Status: DisposedITAT Pune27 Jun 2019AY 2008-09

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

For Appellant: Shri Kishore PhadkeFor Respondent: Ms Nandita Kanchan
Section 143(3)Section 144CSection 144C(8)Section 92C(3)

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1062 to 1068/PUN/2017 यििाारण वषा / Assessment Years : 2007-08 to 2013-14 M/s. Sava Healthcare Ltd. (earlier known as Anagha Pharma Pvt. Ltd.) Sava House, 3rd Floor, Lawani Plaza, B-Wing, Plot No.57/58, Sakorenagar, Vimannagar अऩीऱाथी/Appellant Pune – 411014 …. PAN: AAECA9456D Vs. The Asst. Commissioner of Income Tax, …. प्रत्यथी / Respondent Central C…

M/S. Sava Healthcare Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

ITA 1062/PUN/2017[2007-08]Status: DisposedITAT Pune27 Jun 2019AY 2007-08

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

For Appellant: Shri Kishore PhadkeFor Respondent: Ms Nandita Kanchan
Section 143(3)Section 144CSection 144C(8)Section 92C(3)

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1062 to 1068/PUN/2017 यििाारण वषा / Assessment Years : 2007-08 to 2013-14 M/s. Sava Healthcare Ltd. (earlier known as Anagha Pharma Pvt. Ltd.) Sava House, 3rd Floor, Lawani Plaza, B-Wing, Plot No.57/58, Sakorenagar, Vimannagar अऩीऱाथी/Appellant Pune – 411014 …. PAN: AAECA9456D Vs. The Asst. Commissioner of Income Tax, …. प्रत्यथी / Respondent Central C…

M/S Instrumentarium Corporation Ltd., Kolkata vs. DDIT (It)-1(1), Kolkata

In the result, all three appeals of the assessee is allowed in part

ITA 1548/KOL/2009[2003-2004]Status: DisposedITAT Kolkata03 Aug 2018AY 2003-2004

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2003-04 Assessment Year: 2004-05 Assessment Year: 2006-07 Instrumentarium Corporation Limited………………..………………………………..……….……....Appellant P.O. Box 100, Fi-00031 Ge, Finland Cc: Pricewterhouse Coopers South City Pinnacle 7Th Floor Plot No.Xi-I Sector V Kolkata – 700 091 [Pan : Aadcg 1535 E] Ddit (I.T.)-1(1), Kolkata.….....................................................................................….......….......Respondent Appearances By: Shri Sachit Jolly, Advocate, Appeared On Behalf Of The Assessee. Shri G. Mallikarjuna, Cit, D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : June 27Th, 2018 Date Of Pronouncing The Order : August 3Rd , 2018 Order Per J. Sudhakar Reddy, Am :- These Three Appeals Filed By The Assessee Are Directed Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-Xvi, Kolkata Passed U/S 250 Of The Income Tax Act, 1961 (In Short The ‘Act’), Dt. 09/06/2009. As The Issues Arising In All These Appeals Are Common, For The Sake Of Convenience They Are Heard Together & Disposed Off By Assessment Year Of This Common Order. 2. The Appeals Bearing No’S Ita No. 1548 & 1549/Kol/2009 , For The Assessment Year 2003-04 & 2004-05, Were Referred By The Hon’Ble, Itat To A Special Bench Vide Order Dt. 6Th April, 2010, To Answer The Following Re-Framed Question.

Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Accountant Member & Sri Aby T. Varkey, Judicial Member) Assessment Year: 2003-04 Assessment Year: 2004-05 Assessment Year: 2006-07 Instrumentarium Corporation Limited………………..………………………………..……….……....Appellant P.O. Box 100, FI-00031 GE, Finland Cc: Pricewterhouse Coopers South City Pinnacle 7th Floor Plot No.XI-I Sector V Kolkata – 700 091 [PAN : AADCG 1535 E] DDIT (I.T.)-1(1), Kolkata.….....................................................................................….......….......Respondent Appearances by: Shri…

Topsgrup Electronics Systems Ltd, Mumbai vs. ITO WD 8(3)(3), Mumbai

In the result, the assessee’s appeal for assessment year 2009-10 is allowed as indicated above

ITA 2115/MUM/2015[2009-10]Status: DisposedITAT Mumbai15 Feb 2016AY 2009-10

Bench: Shri Jason P. Boaz & Shri Amit Shuklam/S. Topsgrup Electronic Systems Income Tax Officer-8(3)(3) Ltd. (Previsously Tops Sequipment Ltd.) Àayakar Bhavan, M.K. Road 5, Royal Palms Golf & Country Club Vs. Mumbai 400020 Aarey Milk Colony, Goregaon (E) Mumbai 400065 Pan - Aaact3291K Appellant Respondent

For Appellant: Shri S.M. LalaFor Respondent: Shri Mukesh Kumar Shah
Section 143(3)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" Bench, Mumbai Before Shri Jason P. Boaz, Accountant Member and Shri Amit Shukla, Judicial Member M/s. Topsgrup Electronic Systems Income Tax Officer-8(3)(3) Ltd. (previsously Tops Sequipment Ltd.) Àayakar Bhavan, M.K. Road 5, Royal Palms Golf & Country Club Vs. Mumbai 400020 Aarey Milk Colony, Goregaon (E) Mumbai 400065 PAN - AAACT3291K Appellant Respondent Appellant by: Shri S.M. Lala Respondent by: Shri Mukesh Kumar Shah Date of Hearing: 17.12.2016 Date of Pronouncement: 19.02.2016 O R D E R Per Jason P. Boaz, A.M. This appeal by the assessee is directed against th…