“international transaction”

M/S. Lubrizol India Pvt. Ltd, Navi Mumbai vs. ACIT Circle 3(4), Mumbai

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1464/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) Lubrizol India Pvt. Ltd. Acit, Circle-3(4) बिधम/ Plant 9/3, Thane-Belapur Aayakar Bhavan, Vs. Road, Turbhe, Navi Maharishi Karve Road, Mumbai-400705. Mumbai-400020. आयकर अपील सं/ I.T.A. No.586/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2017-18) Lubrizol India Pvt. Ltd. बिधम/ National Faceless Plant 9/3, Thane-Belapur Assessment Centre, Delhi. Vs. Road, Turbhe, Navi Mumbai-400705. आयकर अपील सं/ I.T.A. No.1576/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2018-19) Lubrizol India Pvt. Ltd. Dcit/Acit, Circle-3(4) बिधम/ Plant 9/3, Thane-Belapur Mumbai. Vs. Road, Turbhe, Navi Mumbai-400705. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacl0126H (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Niraj Sheth/Ms. Urvi Mehta/Abdulkadir Jawadwala Revenue By: Shri Aditya M Rai (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 22/06/2023 घोषणा की तारीख /Date Of Pronouncement: 30/06/2023

Lubrizol India Pvt. Ltd. Method (TNMM) as the Most Appropriate Method (MAM) as adopted by the assessee for benchmarking the International Transaction in respect of its Export of Chemical Additives to its Associated Enterprises (AEs) and instead adopting the CUP as the MAM (by relying on the direction ... AO/TPO erred in proposing and the Hon’ble DRP further erred in upholding an adjustment of Rs.25,23,659/- in respect of the International transactions pertaining to export of chemical additives, alleging that the same to be not at arm’s length in terms of the provisions of section

Juniper Networks Pvt Ltd., Mumbai vs. Asst CIT Circle-2 (4), Mumbai

In the result, appeal filed by the assessee is allowed to be withdrawn

Bench: Shri Aby T. Varkey, Jm & Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.7755/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) Juniper Networks India Pvt. बिधम/ Acit, Circle-2(4) Ltd. Room No. 802, 8Th Floor, Vs. Unit 103, Platina, 1St Floor, Pratishtha Bhavan, Old Plot No. C-59, G Block, Cgo Old Annexe, M. K. Bandra Kurla Complex Road, Mumbai-400020. Road, Bandra (East), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacj8542K (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Ms. Komal Mehta Revenue By: Shri Jayant B Jhaveri (Dr) सुनवाई की तारीख / Date Of Hearing: 19/06/2023 घोषणा की तारीख /Date Of Pronouncement: 30/06/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Company Against The Order Passed U/S 143(3) R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) By Ao Dated 17.10.2019 For Ay 2015-16 Pursuant To The Ld. Dispute Resolution Panel (Drp) Direction On 21.08.2019. 2. The Assessee In This Case Had Filed Its Return Of Income Declaring Total Income Of Rs.174,96,10,270/-. Later On, The Case Was Selected For Scrutiny & The Ao Referred Certain Issues To The Transfer Pricing Officer (Tpo) Who Made Adjustment Of Rs.74,31,05,490/- For Software Development Services (Sds), Information Technology Enable Services (Ites) & Mark-Up On Employee Stock Purchase Plan (Espp). According To The Ld. Ar, The Assessee In Order To Resolve The Transfer Pricing Disputes In Respect Of Transactions With Its Associated Enterprise (Ae) (I.E. M/S. Jni), It Had Approached The Competent Authorities As Per Article 27 (Map) Of The India United States Tax

Juniper Networks India Treaty. And the MAP proceeding was in respect of Transfer Pricing adjustment made to the income of the assessee viz, International transactions of SDS, ITeS and mark-up on ESPP costs between the assessee and JNI. Pursuant to the same, the assessee received the resolution of dispute

Eclinical Works India Pvt Ltd, Mumbai vs. DCIT 9(2)(2), Mumbai

In the result, the appeal of the assesse is allowed

Bench: Shri Aby T Varkey & Shri Amarjit Singheclinical Works India Pvt. Vs. Dcit-9(2)(2) Ltd., A 701 To 705, Aaykar Bhavan, Boomerang Chandivali M.K. Road, Farm Road, Chandivali Mumbai – 400 020 Studio, Mumbai – 400 072 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabce6639F Appellant .. Respondent

legally erred in upholding the selection of M/s Excel Infoways Limited as a comparable for determining the arm's length price of the International Transaction entered into by the Appellant Company with its AE. 2. On the fact and circumstances of the case, the learned CIT(A) has factually ... legally erred in upholding the selection of M/s Universal Prints System Limited as a comparable for determining the arm's length price of the International Transaction entered into by the Appellant Company with its AE P a g e | 2 Eclinical Works India Pvt. Ltd. Vs.DCIT

Jsw Steels Ltd, Mumbai vs. DCIT CC 8(3), Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

Jsw Steels Ltd, Mumbai vs. DCIT CC 8(3), Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

Jsw Steels Ltd, Mumbai vs. DCIT CC 8(3), Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

DCIT CC 8(3)(Erstwhile DCIT, CC-46, Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

DCIT CC 8(3)(Erstwhile DCIT, CC-46, Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

DCIT CC 8(3), Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

DCIT CC 8(3), Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

Jsw Steel Limited, Mumbai vs. ACIT, CC-46, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

erred in not appreciating that provision of corporate guarantee is not covered under the definition of „international transaction‟ under Section 92B of the Act. 3. On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee ... erred in not appreciating that provision of corporate guarantee is not covered under the definition of 'international transaction' under Section 92B of the Act.” 3. “On facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in not appreciating that provision of corporate guarantee

ACIT, (Ltu)-2, Mumbai vs. Shell India Markets Pvt. Ltd., Mumbai

In the result, appeal by assessee is allowed

made a reference to the Transfer Pricing Officer (TPO) u 92CA(1) for determination of arm's length price (ALP) in relation to the international transaction for A 2011-12 vide letter dated 01/07/2013. The ld. TPO thereafter, passed the Transfer Pricing Order dated 30/01/2015 proposing adjustment ... sake of internal proceedings. 32. Let us now examine the relevant M/s. Shell India Markets Pvt. Ltd. procedures relating to Transfer Pricing. After an international transaction is noticed subject to satisfaction of section 92B, a reference is made to the TPO under sub-Section (1) of Section 92CA

Shell India Markets Pvt. Ltd., Mumbai vs. ACIT (Ltu) - 2, Mumbai

In the result, appeal by assessee is allowed

made a reference to the Transfer Pricing Officer (TPO) u 92CA(1) for determination of arm's length price (ALP) in relation to the international transaction for A 2011-12 vide letter dated 01/07/2013. The ld. TPO thereafter, passed the Transfer Pricing Order dated 30/01/2015 proposing adjustment ... sake of internal proceedings. 32. Let us now examine the relevant M/s. Shell India Markets Pvt. Ltd. procedures relating to Transfer Pricing. After an international transaction is noticed subject to satisfaction of section 92B, a reference is made to the TPO under sub-Section (1) of Section 92CA

DCIT Cir. 4(3)(2), Mumbai vs. Morgan Stanley India Co. Pvt. Ltd., Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

assessee has challenged the following issues:- GROUND GROUND/ISSUE NO. 1. Upward adjustment of INR 1,50,72,130 in determining the ALP of the international transaction pertaining to provision of equity broking services in CH segment to AEs 2.1.1 CUP method applied by incorrectly considering the simple average ... securities on behalf of its clients. 6. In so far as transfer pricing adjustments are concerned, the facts are that assessee had entered into international transactions for broking services for its AEs, i.e., trade executed with the assessee for Morgan Stanley Dean Witter (Mauritius) Co. Ltd. as well as Morgan

Morgan Stanley India Company P. Ltd, Mumbai vs. Addl CIT 4(3), Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

assessee has challenged the following issues:- GROUND GROUND/ISSUE NO. 1. Upward adjustment of INR 1,50,72,130 in determining the ALP of the international transaction pertaining to provision of equity broking services in CH segment to AEs 2.1.1 CUP method applied by incorrectly considering the simple average ... securities on behalf of its clients. 6. In so far as transfer pricing adjustments are concerned, the facts are that assessee had entered into international transactions for broking services for its AEs, i.e., trade executed with the assessee for Morgan Stanley Dean Witter (Mauritius) Co. Ltd. as well as Morgan

Tata Aig General Insurance Comapany Ltd, Mumbai vs. Asst CIT 2(3), Mumbai

In the result, the appeal of the assessee is allowed

aforesaid legal issue. The facts in brief are that assessee is engaged in the business of manufacturing and trading of pharmaceuticals. Since there is international transaction with AE, the reference was made by the AO in respect to the transaction in Form 3CEB to the Addl. Commissioner of Income ... hand, Ld. DR submitted that AO has made reference to the TPO u/s 92CA(1) for determination of arm‟s length price on the international transactions entered by the assessee with its AE‟s. The TPO proposed adjustment vide his order dated 31st January 2016 and therefore, in accordance with

DCIT 4(3), Mumbai vs. Jm Morgan Stanley Securities P. Ltd, Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

assessee has challenged the following issues:- GROUND GROUND/ISSUE NO. 1. Upward adjustment of INR 1,50,72,130 in determining the ALP of the international transaction pertaining to provision of equity broking services in CH segment to AEs 2.1.1 CUP method applied by incorrectly considering the simple average ... securities on behalf of its clients. 6. In so far as transfer pricing adjustments are concerned, the facts are that assessee had entered into international transactions for broking services for its AEs, i.e., trade executed with the assessee for Morgan Stanley Dean Witter (Mauritius) Co. Ltd. as well as Morgan

Morgan Stanley India Company P.Ltd, Mumbai vs. Asst CIT RG 4(3), Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

assessee has challenged the following issues:- GROUND GROUND/ISSUE NO. 1. Upward adjustment of INR 1,50,72,130 in determining the ALP of the international transaction pertaining to provision of equity broking services in CH segment to AEs 2.1.1 CUP method applied by incorrectly considering the simple average ... securities on behalf of its clients. 6. In so far as transfer pricing adjustments are concerned, the facts are that assessee had entered into international transactions for broking services for its AEs, i.e., trade executed with the assessee for Morgan Stanley Dean Witter (Mauritius) Co. Ltd. as well as Morgan

ACIT 4(3), Mumbai vs. Morgan Stanley India Co. Pvt. Ltd., Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

assessee has challenged the following issues:- GROUND GROUND/ISSUE NO. 1. Upward adjustment of INR 1,50,72,130 in determining the ALP of the international transaction pertaining to provision of equity broking services in CH segment to AEs 2.1.1 CUP method applied by incorrectly considering the simple average ... securities on behalf of its clients. 6. In so far as transfer pricing adjustments are concerned, the facts are that assessee had entered into international transactions for broking services for its AEs, i.e., trade executed with the assessee for Morgan Stanley Dean Witter (Mauritius) Co. Ltd. as well as Morgan

Morgan Stanley India Company P.Ltd, Mumbai vs. Addl CIT RG 4(3), Mumbai

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

assessee has challenged the following issues:- GROUND GROUND/ISSUE NO. 1. Upward adjustment of INR 1,50,72,130 in determining the ALP of the international transaction pertaining to provision of equity broking services in CH segment to AEs 2.1.1 CUP method applied by incorrectly considering the simple average ... securities on behalf of its clients. 6. In so far as transfer pricing adjustments are concerned, the facts are that assessee had entered into international transactions for broking services for its AEs, i.e., trade executed with the assessee for Morgan Stanley Dean Witter (Mauritius) Co. Ltd. as well as Morgan