Wipro Ltd. v. DCIT

153 Taxmann 55Reported decision#8106 most cited

What is Wipro Ltd. v. DCIT authority for?

When determining the reasonableness of interest charged on foreign currency denominated loans, risk factors such as country risk, entity risk, and forex risk are considered. Adjustments made by the TPO/AO to interest rates are upheld if deemed reasonable based on these factors.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2025.

Also referred to as

Wipro Ltd. v. DCIT · interest rate · foreign currency loans · LIBOR · Indian PLR · ALP · TPO adjustment · forex risk · country risk · entity risk

Also reported as

33 Taxmann.com 263

Sections most often in play

Section 10B(8)Section 132Section 139(1)Section 139(5)Section 143(3)Section 147Section 153ASection 32

Issues it is cited on

section 153(a)(1)section 10b(8)section 92f(v)section 153(a)section 92b(1)section 153a(1)(a)section 10bsection 92fsection 139(5)section 80acsection 80acorporate guarantee

Judgments citing Wipro Ltd. v. DCIT

Jindal Photo Ltd., New Delhi vs. ACIT, CC- 30, New Delhi

ITA 4492/DEL/2017[2014-15]Status: DisposedITAT Delhi21 May 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 139(5)Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs. The A.C.I.T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 4492…

M/S Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the appeals of the assessee in ITA No

ITA 5451/DEL/2016[2013-14]Status: DisposedITAT Delhi21 May 2025AY 2013-14

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs.The A.C.I.T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 449…

M/S. Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

ITA 5257/DEL/2015[2012-13]Status: DisposedITAT Delhi21 May 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 139(5)Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs. The A.C.I. T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 4492…

M/S. Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

ITA 5256/DEL/2015[2011-12]Status: DisposedITAT Delhi21 May 2025AY 2011-12

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 139(5)Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs. The A.C.I.T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 44…

M/S. Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

ITA 5255/DEL/2015[2010-11]Status: DisposedITAT Delhi21 May 2025AY 2010-11

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 139(5)Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs. The A.C.I.T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 4492…

M/S. Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the appeals of the assessee in ITA No

ITA 5254/DEL/2015[2009-10]Status: DisposedITAT Delhi21 May 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs.The A.C.I.T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 449…

M/S. Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

ITA 5253/DEL/2015[2008-09]Status: DisposedITAT Delhi21 May 2025AY 2008-09

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 139(5)Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs. The A.C.I. T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 449…

M/S. Jindal Photo Ltd., New Delhi vs. ACIT, New Delhi

ITA 5251/DEL/2015[2006-07]Status: DisposedITAT Delhi21 May 2025AY 2006-07

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Baljeet Kaur, CIT-DR
Section 132Section 139(5)Section 153A

…ITA No. 5251 to 5257/DEL/2015 [A.Y 2006-07 to A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14]; ITA No. 4492/DEL/2017 [A.Y 2014-15] M/s Jindal Photo LtdVs. The A.C.I.T IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 5251/DEL/2015 [A.Y 2006-07] ITA No. 5252/DEL/2015 [A.Y 2007-08] ITA No. 5253/DEL/2015 [A.Y 2008-09] ITA No. 5254/DEL/2015 [A.Y 2009-10] ITA No. 5255/DEL/2015 [A.Y 2010-11] ITA No. 5256/DEL/2015 [A.Y 2011-12] ITA No. 5257/DEL/2015 [A.Y 2012-13] ITA No. 5451/DEL/2016 [A.Y 2013-14] ITA No. 4492…

Virgo Valves & Controls Ltd, Mumbai vs. DCIT 1(3), Mumbai

ITA 5617/MUM/2016[2009-10]Status: DisposedITAT Mumbai08 Mar 2022AY 2009-10
Section 143(3)Section 92C

…ITA No 3577/Mum/2014 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 Page 1 of 13 IN THE INCOME TAX APPELLATE TRIBUNAL "J" BENCH, MUMBAI [Coram: Pramod Kumar, (Vice President) And Amarjit Singh, Judicial Member] ITA No. 361/Mum/2015 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 M/s. Virgo Valves & Controls Ltd. ………….……… Appellant (now Virgo Valves & Controls Pvt Ltd.) 7B, 3rd Floor, Sambhava Chambers, Sir P.M.Road, Fort, Mumbai 400001 [PAN: AABCV8733H] Vs Deputy Commissioner of Income Tax 1(3) Mumbai …………………… Respondent Appearances: Aditya Ajgaonkar for the Appellant V…

Virgo Valves & Controls Ltd. (Now Virgo Valves & Controls Pvt. Ltd.), Mumbai vs. DCIT - 1(3), Mumbai

ITA 5337/MUM/2016[2008-09]Status: DisposedITAT Mumbai08 Mar 2022AY 2008-09
Section 143(3)Section 92C

…ITA No 3577/Mum/2014 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 Page 1 of 13 IN THE INCOME TAX APPELLATE TRIBUNAL "J" BENCH, MUMBAI [Coram: Pramod Kumar, (Vice President) And Amarjit Singh, Judicial Member] ITA No. 361/Mum/2015 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 M/s. Virgo Valves & Controls Ltd. ………….……… Appellant (now Virgo Valves & Controls Pvt Ltd.) 7B, 3rd Floor, Sambhava Chambers, Sir P.M.Road, Fort, Mumbai 400001 [PAN: AABCV8733H] Vs Deputy Commissioner of Income Tax 1(3) Mumbai …………………… Respondent Appearances: Aditya Ajgaonkar for the Appellant V…

Virgo Valves & Controls Ltd, Mumbai vs. DCIT 1(3), Mumbai

ITA 361/MUM/2015[2010-11]Status: DisposedITAT Mumbai08 Mar 2022AY 2010-11
Section 143(3)Section 92C

…ITA No 3577/Mum/2014 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 Page 1 of 13 IN THE INCOME TAX APPELLATE TRIBUNAL "J" BENCH, MUMBAI [Coram: Pramod Kumar, (Vice President) And Amarjit Singh, Judicial Member] ITA No. 361/Mum/2015 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 M/s. Virgo Valves & Controls Ltd. ………….……… Appellant (now Virgo Valves & Controls Pvt Ltd.) 7B, 3rd Floor, Sambhava Chambers, Sir P.M.Road, Fort, Mumbai 400001 [PAN: AABCV8733H] Vs Deputy Commissioner of Income Tax 1(3) Mumbai …………………… Respondent Appearances: Aditya Ajgaonkar for the Appellant V…

Virgo Valves & Controls Ltd, Mumbai vs. DCIT 1(3), Mumbai

ITA 3577/MUM/2014[2008-09]Status: DisposedITAT Mumbai08 Mar 2022AY 2008-09
Section 143(3)Section 92C

…ITA No 3577/Mum/2014 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 Page 1 of 13 IN THE INCOME TAX APPELLATE TRIBUNAL "J" BENCH, MUMBAI [Coram: Pramod Kumar, (Vice President) And Amarjit Singh, Judicial Member] ITA No. 361/Mum/2015 ITA Nos. 5617 & 5337/Mum/2016 Assessment Years: 2008-09 to 2010-11 M/s. Virgo Valves & Controls Ltd. ………….……… Appellant (now Virgo Valves & Controls Pvt Ltd.) 7B, 3rd Floor, Sambhava Chambers, Sir P.M.Road, Fort, Mumbai 400001 [PAN: AABCV8733H] Vs Deputy Commissioner of Income Tax 1(3) Mumbai …………………… Respondent Appearances: Aditya Ajgaonkar for the Appellant V…

Reliance Life Sciences P.Ltd, Navi Mumbai vs. DCIT RG 7(2), Mumbai

ITA 3883/MUM/2016[2010-11]Status: DisposedITAT Mumbai30 Sept 2019AY 2010-11

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Manish Kumar Singh
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER & ITA.No. 3883/MUM/2016 (A.Y: 2010-11) M/s. Reliance Life Sciences Pvt. Ltd., v. Asst. CIT-7(2) DALSC, R-282, TTC Area of MIDC Aayakar Bhavan Thane Belapur Road M.K. Road Rabale, Navi Mumbai – 400 701 Mumbai-400 020 PAN: AABCR7594L (Appellant) (Respondent) Assessee by : Shri Madhur Agarwal Ms. Rikita Joshi Department by : Shri Manish Kumar Singh Date of Hearing : 27.09.2019 Date of Pronouncement : 30.09.2019 O R D E R PER C.N. PRASAD (JM) 1. These two ap…

Reliance Life Scinces P.Ltd, Navi Mumbai vs. Asst CIT RG 7(2), Mumbai

ITA 2301/MUM/2015[2009-10]Status: DisposedITAT Mumbai30 Sept 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Manish Kumar Singh
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER & ITA.No. 3883/MUM/2016 (A.Y: 2010-11) M/s. Reliance Life Sciences Pvt. Ltd., v. Asst. CIT-7(2) DALSC, R-282, TTC Area of MIDC Aayakar Bhavan Thane Belapur Road M.K. Road Rabale, Navi Mumbai – 400 701 Mumbai-400 020 PAN: AABCR7594L (Appellant) (Respondent) Assessee by : Shri Madhur Agarwal Ms. Rikita Joshi Department by : Shri Manish Kumar Singh Date of Hearing : 27.09.2019 Date of Pronouncement : 30.09.2019 O R D E R PER C.N. PRASAD (JM) 1. These two ap…