Prolifics Corpn. Ltd. v. Dy. CIT

68 SOT 104Income Tax Appellate Tribunal2015#2597 most cited
45

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

Prolifics Corpn. Ltd. v. Dy. CIT · Section 92B · corporate guarantee · international transaction · retrospective amendment · Finance Act 2012 · arm's length price · parent company guarantee · cost of risk

Also reported as

55 Taxmann.com 226

Sections most often in play

Section 115JBSection 143(3)Section 144Section 2(24)(x)Section 234BSection 234CSection 32(1)Section 36(1)(va)

Issues it is cited on

goodwill arising on amalgamationsection 43(6)(c)section 36(l)(va)section 92b(1)minimum alternate taxretrospective amendmentsection 2(11)corporate guaranteesection 43(6)opening wdvtransferor companysection 140a

Judgments citing Prolifics Corpn. Ltd. v. Dy. CIT

National Engineering Industries Limited, Kolkata vs. DCIT, Circle 5(1), Kolkata

Appeal of the assessee is partly allowed

ITA 982/KOL/2025[2020-2021]Status: DisposedITAT Kolkata13 Oct 2025AY 2020-2021

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 14ASection 250

…13, dated 30-4-2019]. [Para 74] 7 National Engineering Industries Limited The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is an additional guarantee, provided by the Parent company. It does not involve any…

Jt. Cti (OSD), Circle-3(1)(1), Ahmedabad vs. M/S. Nirma Limited, Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 791/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2014-15

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

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

…and loss account. The relevant finding of the Hon'ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided by the Parent company. It does not involve any…

Nirma Limited, Ahmedabad vs. DCIT, Circle-3(1)(1), Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 516/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2014-15

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

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

…and loss account. The relevant finding of the Hon'ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided by the Parent company. It does not involve any…

The DCIT, Cir-3(1)(1), Ahmedabad vs. M/S. Nirma Limited, Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2224/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2013-14

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

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

…and loss account. The relevant finding of the Hon'ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided by the Parent company. It does not involve any…

M/S. Nirma Limited, Ahmedabad vs. The DCIT, Circle-3(1)(1), Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2008/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2013-14

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

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

…and loss account. The relevant finding of the Hon'ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided by the Parent company. It does not involve any…

M/S. Nirma Limited, Ahmedabad vs. The DCIT, Circle-3(1)(1), Ahmedabad

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

ITA 2007/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad30 Jun 2025AY 2012-13

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

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 2(24)(x)Section 234BSection 271

…and loss account. The relevant finding of the Hon'ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided by the Parent company. It does not involve any…

DCIT Circle-5(1), Kolkata vs. S K Sarawagi and Company Pvt Ltd, Kolkata

Appeals are partly allowed

ITA 151/KOL/2024[2016-17]Status: DisposedITAT Kolkata25 Jun 2025AY 2016-17

Bench: The O/O Pcit-2, Kolkata 23.01.2024 Certificate Of Filing 2Nd Appeal Was Received From The O/O Pr. Cit-2, Kolkata 24.01.2024 Necessary Hardcopies Of Documents/ Paper/ Details Required For Filing 2Nd Appeal Before The Hon'Ble Itat, Kolkata Were Collected & Prepared. 25.01.2024 2Nd Appeal Was Filed

Section 250Section 92B

…du [Tax Case (Revision) Nos.14 & 15 of 2013, dated 30-4-2019]. [Para 74] ■ The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is an additional guarantee, provided by the Parent company. It does not involve any…

DCIT, Circle-5(1), Kolkata vs. S K Sarawagi and Company Private Limited, Kolkata

Appeals are partly allowed

ITA 150/KOL/2024[2015-16]Status: DisposedITAT Kolkata25 Jun 2025AY 2015-16

Bench: The O/O Pcit-2, Kolkata 23.01.2024 Certificate Of Filing 2Nd Appeal Was Received From The O/O Pr. Cit-2, Kolkata 24.01.2024 Necessary Hardcopies Of Documents/ Paper/ Details Required For Filing 2Nd Appeal Before The Hon’Ble Itat, Kolkata Were Collected & Prepared. 25.01.2024 2Nd Appeal Was Filed

Section 250Section 92B

…du [Tax Case (Revision) Nos. 14 & 15 of 2013, dated 30-4-2019]. [Para 74] ■ The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is an additional guarantee, provided by the Parent company. It does not involve any…

Eih Limited, Kolkata vs. D.C.I.T., Income Tax Department, NFAC, Delhi, Kolkata

In the result, both the appeals of the assessee are partly allowed

ITA 498/KOL/2022[2018-2019]Status: DisposedITAT Kolkata18 Nov 2024AY 2018-2019

Bench: SHRI RAJPAL YADAV, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

Section 115JSection 143(3)Section 14ASection 92C

…[Tax Case (Revision) Nos. 14 & 15 of 2013, dated 30-4- 2019]. [Para 74] ■ The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is an additional guarantee, provided by the Parent company. It does not involve any…

Eih Limited, Kolkata vs. DCIT, NFAC, Delhi

In the result, both the appeals of the assessee are partly allowed

ITA 181/KOL/2022[2017-18]Status: DisposedITAT Kolkata18 Nov 2024AY 2017-18

Bench: SHRI RAJPAL YADAV, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

Section 115JSection 143(3)Section 14ASection 92C

…[Tax Case (Revision) Nos. 14 & 15 of 2013, dated 30-4- 2019]. [Para 74] ■ The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is an additional guarantee, provided by the Parent company. It does not involve any…

DCIT, Circle - 11(1), Kolkata vs. M/S. Graphite India Ltd., Kolkata

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

ITA 473/KOL/2018[2007-08]Status: DisposedITAT Kolkata13 Sept 2024AY 2007-08

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

Section 143(3)Section 144C(3)Section 62Section 801ASection 80I

…du [Tax Case (Revision) Nos. 14 & 15 of 2013, dated 30-4-2019]. [Para 74] ■ The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is an additional guarantee, provided by the Parent company. It does not involve any…

Torrent Pharmaceuticals Ltd., Ahmedabad vs. ACIT, Circle-4(1)(2), Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 1172/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2024AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vartik Choksi, With Shri DhrunalBhatt, ARsFor Respondent: Shri Ritesh Parmar, CIT-DR
Section 143(3)Section 14ASection 35Section 43BSection 80

…gth in TP report. The relevant finding of the Hon’ble Court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of ProlificsCorpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international ITA.Nos.2365/Ahd/2018&5 others A.Y.2013-14 39 transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided…

DCIT, Cir-4(1), Kolkata vs. M/S Mcleod Russel India Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 2279/KOL/2019[2014-15]Status: DisposedITAT Kolkata07 Jul 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

Section 92C

…T (62 taxman.com 181) (ITAT Mumbai) Manugraph India Ltd VsDy.CIT (62 taxman.com 347) (ITAT Mumbai) Mylan Industries Ltd VsAsst.CIT (63 taxman.com 179) (ITAT Hyd) Rain Commodities Ltd VsAddl.CIT (65 taxman.com 240) (ITAT Hyd) Prolifics Corpn. Ltd. v. Dy. CIT (68 SOT 104) (ITAT Hyd) 8. In view of the above judgments, the suo moto adjustment of Rs.24,73,927/- made by the appellant, being 0.5% on account of CG fee is held to be fair & reasonable and no further adjustment is necessary in this regard. The Ld. AO/TPO is accordingly directed to delete the further adjustment of Rs.61,84,092/- made on account of corporate…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1899/KOL/2017[2013-14]Status: DisposedITAT Kolkata13 Feb 2023AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1854/KOL/2016[2012-13]Status: DisposedITAT Kolkata13 Feb 2023AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

DCIT, Circle-2(1)(1), Baroda vs. M/S. Sun Pharmaceuticals Industries Ltd., Baroda

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

ITA 1520/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…nd loss account. The relevant finding of the Hon’ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma L…

DCIT, Circle-2(1)(1), Baroda vs. M/S. Sun Pharmaceuticals Industries Ltd., Baroda

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

ITA 1519/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…nd loss account. The relevant finding of the Hon’ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma L…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

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

ITA 1463/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…nd loss account. The relevant finding of the Hon’ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma L…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Asst. Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

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

ITA 1462/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: Advocate & Shri Parin Shah
Section 10Section 115JSection 28

…nd loss account. The relevant finding of the Hon’ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of Prolifics Corpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma L…

The DCIT, Circle-1(1)(1), Ahmedabad vs. M/S. Adani Enterprise Ltd, Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 523/AHD/2020[2016-17]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2016-17

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Respondent: Shri Vartik Choksi, A.R
Section 1Section 143(3)

…and loss account. The relevant finding of the Hon’ble court reads as under: The concept of bank Guarantees and Corporate Guarantees was explained in the decision of the Hydrabad Tribunal in the case of ProlificsCorpn. Ltd v. Dy. CIT [2015] 55 taxmann.com 226/68 SOT 104 (URO). In the said case, the revenue contended that the transaction of providing Corporate Guarantee is covered by the definition of international transaction after retrospective amendment made by Finance Act, 2012. The assessee argued that the Corporate Guarantee is and additional guarantee, provided by the Parent company. It does not involve any…

Prolifics Corpn. Ltd. v. Dy. CIT (68 SOT 104) — Cited in 45 Judgments | BharatTax