Trilogy E Business Software India (P) Ltd. v. DCIT

47 SOT 45Income Tax Appellate Tribunal2011#7198 most cited
16

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Judgments citing Trilogy E Business Software India (P) Ltd. v. DCIT

DASSAULT SYSTEMS INDIA PVT. LTD.,NEW DELHI vs. ADDI. CIT, SPECIAL RANGE- 3 , NEW DELHI

In the result, this appeal of the assessee is allowed for statistical

ITA 8469/DEL/2019[2014-15]Status: DisposedITAT Delhi20 Jun 2023AY 2014-15
For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri Mrinal Kumar Das, Sr. DR
Section 271Section 92D

…hes to place reliance on following rulings wherein it has been held that an assessee should be given an adequate opportunity of being heard and the principle of natural justice has also been upheld: • Trilogy E-Business Software (India) Pvt Ltd vs DCIT; [2011]47 SOT 45 (Bangalore) affirmed by Hon'ble High Court of Karnataka in ITA 403/2011 • Toyota Kirloskar Motor (P) Ltd: 197 Taxman 477 (Karnataka); and • Airtech Pvt Ltd vs. DCIT, New Delhi: (ITA No. 3591/Del/2010)” 8 ITA No.8469/Del./2019 7. Per contra, ld. DR for the Revenue relied upon the orders of the authorities below. 8. Upon careful consideration, we fi…

THE DCIT, CIRCLE-4,, AHMEDABAD vs. GHCL LIMITED, AHMEDABAD

ITA 976/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad05 Mar 2021AY 2009-10
For Appellant: Shri S. N. Soparkar, Sr. A.R. &For Respondent: Shri Mohd. Usman, CIR-D.R. &
Section 143(2)Section 144C(2)(b)Section 144C(5)Section 14ASection 37(1)Section 92C

…1TD 253/17 Laxmiinn.com 16 has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy1 E Business Software India (P) Ltd. v. Dy. CIT 120111 47 SOT 45 (URO)/12 raxmann.com 464 (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra v. Addtl, C/r[2013| 32 taxmann.com 196 has also laid down to this extent. In view of the foregoing discussion, we are of the considered opinion that the amount of foreign exchange gain/loss arising out of revenue transactions is required to be considered as an ite…

GHCL LIMITED,AHMEDABAD vs. THE DY.CIT., CIRCLE-4,, AHMEDABAD

ITA 1042/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad05 Mar 2021AY 2009-10
For Appellant: Shri S. N. Soparkar, Sr. A.R. &For Respondent: Shri Mohd. Usman, CIR-D.R. &
Section 143(2)Section 144C(2)(b)Section 144C(5)Section 14ASection 37(1)Section 92C

…1TD 253/17 Laxmiinn.com 16 has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy1 E Business Software India (P) Ltd. v. Dy. CIT 120111 47 SOT 45 (URO)/12 raxmann.com 464 (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra v. Addtl, C/r[2013| 32 taxmann.com 196 has also laid down to this extent. In view of the foregoing discussion, we are of the considered opinion that the amount of foreign exchange gain/loss arising out of revenue transactions is required to be considered as an ite…

SYNECHRON TECHNOLOGIES PVT.LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 1692/PUN/2018[2014-15]Status: DisposedITAT Pune20 Jan 2021AY 2014-15

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No. 1692/Pun/2018 नििाारण वषा / Assessment Year : 2014-15 Synechron Technologies Private Limited Cedar Building, Ascendas International, Tech Park Pune, Plot No.18, Rajiv Gandhi Infotech Park, Hinjewadi, Phase-Iii, Pune-411 057. Pan : Aaics2894R .......अऩीऱाथी / Appellant बिाम / V/S. The Assistant Commissioner Of Income Tax, Circle-6, Pune. ……प्रत्यथी / Respondent

For Appellant: Shri M.P. LohiaFor Respondent: Shri Sardar Singh Meena
Section 144C(5)Section 92C(2)

…profit of the company and should be included in the operating revenue. Similar view has been taken in several ITA No.2331/PUN/2017 M/s. Extentia Information Technology Pvt. Ltd. 20 decisions including Trilogy E Business Software India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). 23. The reliance of the ld. DR on Safe Harbour rules to contend that foreign exchange gain or loss be taken as non-operating, is not sustainable. There is no doubt that in such rules, forex gain/loss has been treated as non-operating. However it is relevant to note that such rules are not applicable to the assessment year under c…

GLOBAL E-BUSINESS OPERATIONS PRIVATE LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

In the result, the appeal of the assessee is treated as allowed

ITA 725/BANG/2017[2012-13]Status: DisposedITAT Bangalore04 Dec 2020AY 2012-13

Bench: Shri George George K. & Shri B.R. Baskaranit(Tp)A No.725/Bang/2017 Assessment Year: 2012-13

For Appellant: Shri Sarath Rao, A.RFor Respondent: Shri Sanjay Kumar, D.R
Section 143(3)

…d, is to be regarded as operating revenue or loss as the case may be. In the case of SAP Labs India (P.) Ltd. v. Asstt. CIT [2010] 8 taxmann.com 207/[2011] 44 SOT 156 (Bang.) and Trilogy E Business Software India (P.) Ltd. v. Dy. CIT [2011] 12 taxmann.com 464/47 SOT 45 (Bang)(URO), which decisions have subsequently been consistervs followed by this Tribunal, lays down the proposition that foreign exchange gain or loss has to be regarded as IT(TP)A No. 352/Bang/2017 operating revenue or loss. The learned DR however brought to our notice a decision of the ITAT Bangalore Bench in the case of Commonscope Networks (In…

M/S. EXTENTIA INFORMATION TECHNOLOGY PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 1(2),, PUNE

In the result, the appeal is partly allowed for statistical

ITA 2331/PUN/2017[2013-14]Status: DisposedITAT Pune04 Mar 2020AY 2013-14

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryिनधा"रण वष" / Assessment Year : 2013-14 M/S. Extentia Information Technology Vs. Dcit, Pvt. Ltd., Circle-1(2), Pune Extentia Tower, Survey No.209-1,2,3, Sub Plot No.34, Road No.12A, Kalyani Nagar, Pune – 411 006 Pan : Aaace7933M Appellant Respondent

Section 143(3)Section 92C

…part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in several 20 M/s. Extentia Information Technology Pvt. Ltd. decisions including Trilogy E Business Software India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). 23. The reliance of the ld. DR on Safe Harbour rules to contend that foreign exchange gain or loss be taken as non-operating, is not sustainable. There is no doubt that in such rules, forex gain/loss has been treated as non-operating. However it is relevant to note that such rules are not applicable to the assessment year und…

ARCTERN CONSULTING PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, appeal of the assessee is partly allowed

ITA 352/BANG/2017[2012-13]Status: DisposedITAT Bangalore11 Oct 2019AY 2012-13

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.352/Bang/2017 Assessment Year : 2012-13 M/S. Arctern Consulting Pvt. Ltd., Vs. Deputy Commissioner Of Embassy Tech Village, Income-Tax, Tower 2B Hibiscus, 5Th Floor, Circle – 1(1)(2), Deverabeesanahalli, Bengaluru. Bengaluru – 560 037. Pan : Aaeca 9113 F Appellant Respondent Assessee By : Shri. T. Suryanarayana, Advocate Revenue By : Shri. Pradeep Kumar, Cit-Dr(Itat)(Bengaluru) Date Of Hearing : 09.10.2019 Date Of Pronouncement : 15.10.2019 O R D E R

For Appellant: Shri. T. Suryanarayana, AdvocateFor Respondent: Shri. Pradeep Kumar, CIT-DR(ITAT)(Bengaluru)
Section 10ASection 143(3)Section 92

…d, is to be regarded as operating revenue or loss as the case may be. In the case of SAP Labs India (P.) Ltd. v. Asstt. CIT [2010] 8 taxmann.com 207/[2011] 44 SOT 156 (Bang.) and Trilogy E Business Software India (P.) Ltd. v. Dy. CIT [2011] 12 taxmann.com 464/47 SOT 45 (Bang)(URO), which decisions have subsequently been consistervs followed by this Tribunal, lays down the proposition that foreign exchange gain or loss has to be regarded as IT(TP)A No. 352/Bang/2017 Page 11 of 14 operating revenue or loss. The learned DR however brought to our notice a decision of the ITAT Bangalore Bench in the case of Commonsco…

FRESENIUS KABI INDIA PRIVATE LIMITED,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,,

In the result, appeal of the assessee is partly allowed and that of the Revenue appeal is partly allowed for statistical purpose

ITA 2572/PUN/2016[2011-12]Status: DisposedITAT Pune02 Nov 2018AY 2011-12

Bench: Shri R.S. Syal & Shri Vikas Awasthy, Jm

For Appellant: Shri Ketan VedFor Respondent: Smt. Nandita Kanchan (CIT)

…2011) 44 SOT 156 (Bangalore) has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy E Business Software India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra Vs Addtl. CIT (2013) 32 taxman.com 196 has also laid down to this extent. 8. It is pertinent to mention that the later amendment to Safe Harbour rules provides for taking foreign exchange gain or loss as non-operating. However it is relevant to note that such rules are not appl…

MADHU JAYANTI INTERNATIONAL LIMITED,KOLKATA vs. DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 214/KOL/2016[2011-2012]Status: DisposedITAT Kolkata01 Dec 2017AY 2011-2012

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)

For Appellant: Shri Akash Mansinka, ARFor Respondent: Shri G. Mallikarjune, CIT DR
Section 139(5)Section 143(3)Section 144C(5)Section 92CSection 92D

…the Tribunal in the case of SAP Labs India Ltd. (supra) and Bombay Bench of the Tribunal in the case of Deutsche Bank A.G. vs. Dy. CIT (2003) 86 ITD 431 (Mumbai)." • M/s Trilogy E- Business Software India Private Limited V Deputy Commissioner of Income-tax (47 SOT 45) "As far as foreign exchange gain/loss being considered as not forming part of the operating cost, the reasoning of the revenue is that such loss or gain cannot be said to be one realized from international transaction though they may form part of the gain/loss of the enterprise and therefore they should be excluded while determining operating cost…

AGILIS INFORMATION TECHNOLOGIES INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is partly allowed for statistical purposes

ITA 555/DEL/2017[2012-13]Status: DisposedITAT Delhi15 Nov 2017AY 2012-13

Bench: Shri R. S. Syal & Ms Suchitra Kamble

Section 143(3)Section 144CSection 2

…10) (iii) NXP Semiconductors India Pvt. Ltd. vs. ACIT (ITA No. 1174/Bang/2011) (iv) (Sapient Corporation Pvt. Ltd vs. DCIT (ITA No 5263/Del/2010) (v) Bindview India Private Limited Vs. DCI, ITA No. ITA No 1386/PN/10 (vi) Trilogy E-Business Software vs. DCIT : 47 SOT 45(URO) 14 (vii) Nethawk Networks India Pvt. Limited. Vs. ITO (ITA 7633/Mum/2012) (viii) Toluna India Pvt. Ltd. vs. ACIT (ITA No.5645/Del/2011) (ix) Lear Automotive India P. Ltd. Vs. ACIT (ITA No. 5612/Del/2011) (x) Global Logic India Pvt. Ltd. vs. ACIT (ITA No. 5809/Del/2011) 4.6. The Ld. DR relied upon the orders of the TPO and the DRP. 4.7 We h…

MCKINSEY KNOWLEDGE CENTRE INDIA PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result ground No. 14 of the appeal of the assessee is dismissed

ITA 6648/DEL/2016[2012-13]Status: DisposedITAT Delhi11 May 2017AY 2012-13

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimckinsey Knowledge Centre India Pvt. Vs. Dcit, Ltd, Circle-16(2) 3Rd Floor, Block-Iii, Vatika Business Park, New Delhi Sector-49, Sohna Road, Gurgaon Pan:Aaccm2356G (Appellant) (Respondent)

For Appellant: Shri Porus KakaFor Respondent: Shri Amrendra Kumar, CIT DR
Section 143(3)Section 143(3)(ii)Section 144CSection 92C

…McKinsey Knowledge Centre India Pvt. Ltd V DCIT 6648/Del/2016 A Y 2012-13 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I-1”: NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER McKinsey Knowledge Centre India Pvt. Vs. DCIT, Ltd, Circle-16(2) 3rd Floor, Block-III, Vatika Business Park, New Delhi Sector-49, Sohna Road, Gurgaon PAN:AACCM2356G (Appellant) (Respondent) Assessee by : Shri Porus Kaka, Senior Advocate Shri Dinesh Chawla, Adv Revenue by: Shri Amrendra Kumar, CIT DR Date of Hearing 19/04/2017 Date of pronouncement 11/05/2017 O R D E R PER PRASHANT MAHARISHI…

DCIT, NEW DELHI vs. M/S MCKINSEY KINOWLEDGE CENTRE INDIA PVT. LTD, GURGAON

In the result, the appeal of the assessee is partly allowed for

ITA 499/DEL/2016[2011-12]Status: DisposedITAT Delhi15 Dec 2016AY 2011-12

Bench: Shri R.S. Syal, Am & Smt. Beena A. Pillai, Jm Assessment Year : 2011-12 Mckinsey Knowledge Centre Pvt. Ltd., Vs. Dcit, 3Rd Floor, Block-Iii, Circle-16(2), Vatika Business Park, New Delhi. Sector-49, Sohna Road, Gurgaon. Pan: Aaccm2356G Assessment Year : 2011-12 Dcit, Mckinsey Knowledge Circle-16(2), Centre Pvt. Ltd., 3Rd Floor, Block-Iii, New Delhi. Vatika Business Park, Sector-49, Sohna Road, Gurgaon. Pan: Aaccm2356G (Appellant) (Respondent) Assessee By : Shri Porus Kaka, Sr. Advocate & Shri Divesh Chawla, Advocate Department By : Shri Amrendra Kumar, Cit, Dr & Shri Neeraj Kumar, Sr. Dr Date Of Hearing : 13.12.2016 Date Of Pronouncement : 15.12.2016 Order Per R.S. Syal, Am: These Two Cross Appeals – One By The Assessee & The Other By The Revenue - Are Directed Against The Final Assessment Order Dated

For Appellant: Shri Porus Kaka, Sr. Advocate &For Respondent: Shri Amrendra Kumar, CIT, DR &
Section 143(3)Section 144C

…011) 44 SOT 156 (Bangalore) has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy E Business Software India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra Vs Addtl. CIT (2013) 32 taxman.com 196 has also laid down to this extent. 68. The reliance of the ld. DR on Safe Harbour rules to contend that foreign exchange gain or loss be taken as non-operating, is not sustainable. There is no doubt that in such rules, forex gain/loss has bee…

MCKINSEY KNOWLEDGE CENTRE PVT. LTD.,,GURGAON vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed for

ITA 154/DEL/2016[2011-12]Status: DisposedITAT Delhi15 Dec 2016AY 2011-12

Bench: Shri R.S. Syal, Am & Smt. Beena A. Pillai, Jm Assessment Year : 2011-12 Mckinsey Knowledge Centre Pvt. Ltd., Vs. Dcit, 3Rd Floor, Block-Iii, Circle-16(2), Vatika Business Park, New Delhi. Sector-49, Sohna Road, Gurgaon. Pan: Aaccm2356G Assessment Year : 2011-12 Dcit, Mckinsey Knowledge Circle-16(2), Centre Pvt. Ltd., 3Rd Floor, Block-Iii, New Delhi. Vatika Business Park, Sector-49, Sohna Road, Gurgaon. Pan: Aaccm2356G (Appellant) (Respondent) Assessee By : Shri Porus Kaka, Sr. Advocate & Shri Divesh Chawla, Advocate Department By : Shri Amrendra Kumar, Cit, Dr & Shri Neeraj Kumar, Sr. Dr Date Of Hearing : 13.12.2016 Date Of Pronouncement : 15.12.2016 Order Per R.S. Syal, Am: These Two Cross Appeals – One By The Assessee & The Other By The Revenue - Are Directed Against The Final Assessment Order Dated

For Appellant: Shri Porus Kaka, Sr. Advocate &For Respondent: Shri Amrendra Kumar, CIT, DR &
Section 143(3)Section 144C

…011) 44 SOT 156 (Bangalore) has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy E Business Software India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra Vs Addtl. CIT (2013) 32 taxman.com 196 has also laid down to this extent. 68. The reliance of the ld. DR on Safe Harbour rules to contend that foreign exchange gain or loss be taken as non-operating, is not sustainable. There is no doubt that in such rules, forex gain/loss has bee…

SUN LIFE INDIA SERVICE CENTRE PVT. LTD.,GURGAON vs. DCIT, GURGAON

ITA 750/DEL/2015[2010-11]Status: DisposedITAT Delhi27 Jun 2016AY 2010-11

Bench: Shri Pramod Kumar & Smt. Beena A. Pillai

For Appellant: Shri G. C. Srivastava, AdvFor Respondent: Shri Amrenda Kumar, CIT DR
Section 140Section 92C

…(2011) 44 SOT 156 (Bangalore) has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy E Business Software India (P) Ltd. Vs DCIT (20ll) 47 SOT 45 (URO) (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra Vs Addl.CIT (2013) 32 taxman. com 196 has also laid down to this extent. In view of the foregoing discussion, we are of the considered opinion that the amount of foreign exchange gain/loss arising out of revenue transactions is required to be considered as an item of operating reven…

AMERIPRISE INDIA PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 7014/DEL/2014[2010-11]Status: DisposedITAT Delhi19 Jan 2016AY 2010-11

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: Sh. Harpreet Singh, Advocate &For Respondent: Sh. Amrendra Kumar, CIT/DR
Section 143(3)Section 144CSection 92C

…(2011) 44 SOT 156 (Bangalore) has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy E Business Software India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra Vs Addtl. CIT (2013) 32 taxman.com 196 has also laid down to this extent. In view of the foregoing discussion and respectfully following the view taken by Coordinate Bench in immediately preceding year, we are of the considered opinion that 24 ITA No.7014/Del./2014 the amount of fo…

SUN LIFE INDIA SERVICE CENTRE PVT. LTD.,GURGAON vs. DCIT, GURGAON

In the result, the appeal is partly allowed

ITA 1489/DEL/2014[2009-10]Status: DisposedITAT Delhi28 Sept 2015AY 2009-10

Bench: Shri R.S. Syal, Am & Smt. Beena A. Pillai, Jm Assessment Year : 2009-10

For Appellant: Shri G.C. Srivastava, AdvocateFor Respondent: Shri Amrendra Kumar, CIT, DR
Section 144C(13)

…) 44 SOT 156 (Bangalore) has held that foreign exchange fluctuation gain is part of operating profit of the company and should be included in the operating revenue. Similar view has been taken in Trilogy E Business Software 37 India (P) Ltd. Vs DCIT (2011) 47 SOT 45 (URO) (Bangalore). The Mumbai Bench of the Tribunal in S. Narendra Vs Addl. CIT (2013) 32 taxman.com 196 has also laid down to this extent. In view of the foregoing discussion, we are of the considered opinion that the amount of foreign exchange gain/loss arising out of revenue transactions is required to be considered as an item of operating rev…