“international transaction”

Transfer PricingSection 92BSection 92B3,408 judgments

The decision most relied on for international transaction is Sony Ericsson Mobile Communications India Pvt. Ltd. v. CIT (374 ITR 118), cited in 499 judgments on BharatTax.

Leading authorities on international transaction

Sony Ericsson Mobile Communications India Pvt. Ltd. v. CIT

374 ITR 118 · 2015 · High Court

499

citing judgments

The existence of an international transaction for Advertising and Marketing Promotion (AMP) expenditure requires the revenue to discharge the burden of proof. An explanation inserted under Section 92B does not automatically make AMP expenditure an international transaction.

CIT v. EKL Appliances Ltd.

345 ITR 241 · 2012 · High Court

422

citing judgments

Transfer pricing adjustments for outstanding receivables are permissible only if the Tax Officer establishes, through analysis over a period, a pattern indicating an international transaction intended to benefit an associated enterprise. The Tax Officer cannot question purely business decisions like royalty payments or exceed jurisdiction by applying cost-benefit analysis to determine the arm's length price of services.

India Vs. Azadi Bachao Andolan 263 ITR 706 (SC); and Vodafone International Holdings B.V v. Union of India

341 ITR 1 · 2012 · Supreme Court

295

citing judgments

Legitimate tax planning is permissible, allowing taxpayers to arrange their affairs to minimize tax liabilities while respecting the "look at test" for transaction genuineness and the separate entity principle in corporate taxation. The source of funds for treaty-beneficial structures does not automatically invalidate the transaction.

Maruti Suzuki India Ltd. v. CIT

381 ITR 117 · 2016 · High Court

220

citing judgments

The Bright Line Test (BLT) is not a recognized method under the Income-tax Act and Rules for benchmarking advertising, marketing, and promotion (AMP) expenses or for determining the existence of an international transaction or its Arm's Length Price. The Revenue must first establish the existence and price of an international transaction before seeking an ALP adjustment.

Vodafone India Services (P.) Ltd. v. Union of India

368 ITR 1 · 2014 · High Court

172

citing judgments

The issue of shares and share premium is a capital account transaction, not an income-generating event, therefore Chapter X (Transfer Pricing) provisions are not attracted to deem notional or hypothetical income from such transactions.

Sir Kikabhai Premchand v. CIT

24 ITR 506 · 1953 · Supreme Court

156

citing judgments

One cannot make a taxable profit or loss from transactions with oneself, as profit only arises from dealings with external third parties, even when transferring assets between different accounts or divisions of the same entity.

PCIT v. Redington (India) Ltd.

430 ITR 298 · 2021 · High Court

132

citing judgments

A corporate guarantee issued to Associated Enterprises (AEs) is an international transaction under Section 92B, requiring adjustments for guarantee commission due to inherent risk. The reasonable arm's length rate for benchmarking such corporate guarantees can be determined using internal or external comparable uncontrolled prices.

Bausch & Lomb Eye Care (India) Pvt. Ltd. v. Additional CIT

381 ITR 227 · 2016 · High Court

127

citing judgments

The existence of an international transaction must be established before its arm's length price can be determined. An alleged 'excessive' AMP expenditure cannot unilaterally expand the scope of an international transaction if its existence is contested.

Judgments citing international transaction

Oocl Logistics (India) P.Ltd, Mumbai vs. ITO 7(3)(1), Mumbai

In the result, appeal by the assessee is allowed for statistical purpose

ITA 2001/MUM/2015[2010-11]Status: DisposedITAT Mumbai24 Aug 2022AY 2010-11

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Siddhesh ChauguleFor Respondent: Ms. Vatsalaa Jha

Section 143(3)Section 144C(13)Section 234BSection 244A

upholding confirming the action of the TPO of rejecting the companies selected by the Appellant as comparable for the purpose of benchmarking the international transaction entered into by the Appellant. 3. On the facts and in the circumstance of the case and in law, the learned TPO erred ... engaged in ‘provision of logistics services’ to its associated enterprises and also to non-associated enterprises. During the year, assessee entered into following international transactions with OOCL group entities (‘associated enterprises’): Sl. Amount (in INR) Nature of International Transaction No. Provision of logistics services 7,75,37,599 1. Availing

M/S. Rittal India Private Limited, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-3(1)(1), Bangalore

In the result, the appeal by the assessee is partly allowed

ITA 392/BANG/2022[2017-18]Status: DisposedITAT Bangalore24 Aug 2022AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy S

For Appellant: Shri Ramasubramaniyan, CAFor Respondent: Shri Bijoy Kumar Panda, CIT(DR)(ITAT), Bengaluru

Section 143(2)Section 143(3)Section 37Section 92Section 92C

case was selected for scrutiny under CASS and notice u/s. 143(2) was duly served on the assessee. The assessee had international transaction as per section 92 of the Act and therefore the case was referred to the Transfer Pricing Officer (TPO) in order to determine the Arms Length Price ... before the Tribunal. Notional interest on receivables 4. During the course of TP proceedings the AO treated the delay in receivables as a separate international transaction after considering the invoice wise details submitted by the assessee. The TPO computed Page 3 of 6 interest on delayed trade receivables

Safran Engineering Services India Private Limited, Bengaluru vs. Deputy Commissioner of Income Tax, Circe-6(1)(1), Bangalore

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

ITA 297/BANG/2022[2017-18]Status: DisposedITAT Bangalore24 Aug 2022AY 2017-18

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Bijoy Kumar Panda, CIT(DR)(ITAT), Bengaluru

Section 143(2)Section 143(3)Section 92C

served on the assessee. A reference u/s. 92CA of the Act for computation of the ALP in relation to the international transaction was made to the Transfer Pricing Officer (TPO). The TPO made an adjustment of Rs.9,07,71,600 in the software development services segment and also made ... software development services segment. With regard to interest on delayed receivables, the DRP upheld that the interest on receivable is a separate international transaction and upheld the interest levy on the delayed receivables. The DRP gave directions to the TPO to recompute that interest adjustment after verifying the computational mistakes

M/S. Nike India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-3(1)(1), Bangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 203/BANG/2021[2016-17]Status: DisposedITAT Bangalore24 Aug 2022AY 2016-17

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.203/Bang/2021 : Asst.Year 2016-2017 M/S.Nike India Private Limited The Deputy Commissioner Of Ground & First Floor, Olympia Income-Tax, Circle 3(1)(1) V. Bangalore. Building, No.66/1, Begmane Tech Park, C.V.Raman Nagar Bangalore – 560 093. Pan : Aabcn9612K. (Appellant) (Respondent) Appellant By : Sri.K.R.Vasudevan, Advocate Respondent By : Sri.Bijoy Kumar Panda, Cit-Dr Date Of Pronouncement : 24.08.2022 Date Of Hearing : 23.08.2022 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 27.03.2021 Passed U/S 143(3) R.W.S. 144C(13) Of The I.T.Act. The Relevant Assessment Year Is 2016-2017. 2. The Brief Facts Of The Case Are As Follows: The Assessee Is A Wholesale Distributor Of Nike Brand Products In India. For The Assessment Year 2016-2017, The Return Of Income Was Filed On 30.11.2016 Declaring Total Loss Of Rs.164,42,63,191. The Assessment Was Selected For Scrutiny & Notice U/S 143(2) Of The I.T.Act Was Served. During The Course Of Assessment Proceedings, The Matter Was Referred To The Transfer Pricing Officer (Tpo) To Determine The 2 It(Tp)A No.203/Bang/2021. M/S.Nike India Private Limited. Arm’S Length Price (Alp) Of The International Transaction Undertaken By The Assessee With Its Associate Enterprises (Aes). The Tpo Vide Order Dated 31.10.2019, Passed U/S 92Ca Of The I.T.Act, Proposed The Tp Adjustment Totaling To Rs.63,27,41,494 Under Various Segments. The Details Of The Same Are As Follows:- Segment Adjustment (Rs.) Issue Of Sourcing Commission 30,57,35,722 Reimbursement Of Expenses 17,77,95,683 Third Party Royalty 2,00,08,967 Amp Expenses 12,92,01,122 Total 63,27,41,494

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Sri.Bijoy Kumar Panda, CIT-DR

Section 143(2)Section 143(3)Section 92C

Transfer Pricing Officer (TPO) to determine the 2 IT(TP)A No.203/Bang/2021. M/s.Nike India Private Limited. Arm’s Length Price (ALP) of the international transaction undertaken by the assessee with its Associate Enterprises (AEs). The TPO vide order dated 31.10.2019, passed u/s 92CA of the I.T.Act, proposed the TP adjustment ... Promotional ("AMP") expenses 2. The Learned AO / Learned TPO / Hon'ble DRP erred in considering the AMP expenses of the Appellant as an international transaction even though these expenses were paid to unrelated parties and thereby proposing an adjustment of INR 12,92,01,122. In doing so, the Learned

M/S Information Technology Park Limited, Bangalore vs. Income Tax Officer Ward-11(2), Bangalore

ITA 1358/BANG/2018[2010-11]Status: DisposedITAT Bangalore24 Aug 2022AY 2010-11

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Rajesh Kumar Jha, CIT(DR)(ITAT), Bengaluru

Section 143(1)Section 143(2)Section 143(3)Section 2(22)

assessment proceedings a reference was made to the Transfer Pricing Officer (TPO) for determination of the Arm’s Length Price (ALP) of this international transaction assessee entered into with AFPI. The assessee has during the previous year relevant to AY 2010-11 redeemed some ITA Nos.1357 & 1358/Bang/2018 Page

M/S Information Technology Park Limited, Bangalore vs. Income Tax Officer Ward-3(1)(4), Bangalore

ITA 1357/BANG/2018[2009-10]Status: DisposedITAT Bangalore24 Aug 2022AY 2009-10

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Rajesh Kumar Jha, CIT(DR)(ITAT), Bengaluru

Section 143(1)Section 143(2)Section 143(3)Section 2(22)

Wns Global; Services Pvt Ltd., Mumbai vs. Dy CIT Circle- 14 (3)(1), Mumbai

In the result appeal filed by the assessee is partly allowed

ITA 295/MUM/2020[2015-16]Status: DisposedITAT Mumbai23 Aug 2022AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Cross Objection No. 52/Mum/2020 (Arising In Ita No. 2383/Mum/2019 For A.Y. 10-11)

For Appellant: ShriFor Respondent: Shri Tejandra Pal Singh, DR

circumstances of the case and in law, the Ld. CIT(A) is right in basing his entire order on his presumption that aggregating the international transactions under one entity level TNMM adopted by the TPO is not correct without adjudicating the ground number 3.1 preferred by the assessee and without ... understanding the business model of the assessee that the international transaction of provision of ITES to AES (Rs. 1108.86 Crores) and the international transaction of receipt of ITA Nos. 295/M/2020 & CO No.52/M/2020, 2383/M/2019 WNS Global Services P. Ltd; A.Ys. 15-16, 10-11 marketing support services from AES (Rs.16.64 Lakhs

DCIT-14(3)(1), Mumbai vs. Wns Global Services Pvt Ltd., Mumbai

In the result appeal filed by the assessee is partly allowed

ITA 2383/MUM/2019[2010-11]Status: DisposedITAT Mumbai23 Aug 2022AY 2010-11

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Cross Objection No. 52/Mum/2020 (Arising In Ita No. 2383/Mum/2019 For A.Y. 10-11)

For Appellant: ShriFor Respondent: Shri Tejandra Pal Singh, DR

Nbc Fashion India P.Ltd, New Delhi vs. Asst CIT Cir 3(2)(2), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1756/MUM/2017[2012-13]Status: DisposedITAT Mumbai23 Aug 2022AY 2012-13

Bench: Shri Prashant Maharshi () & Smt. Kavitha Rajagopal () Nbc Fashion India Private Limited Vs Assistant Commissioner Of Income- Splendor Forum, 4Th Floor, Units Tax, Tax Circle 3(2)(2), Mumbai 401-412, Jasola District Centre, Aayakar Bhavan, M.K. Road, New Delhi-100 025 Mumbai-400 020 Pan : Aadcn0495L Appellant Respondent

Section 143(3)Section 144Section 144CSection 144C(1)Section 234ASection 271(1)(c)Section 92C

then selected for scrutiny and was referred to the Transfer Pricing Officer (TPO) for determination of arm’s length price (ALP) for the international transactions entered into by the assessee. The TPO passed an order under section 92CA(3) of the Act dated 19/01/2016 proposing an adjustment of Rs.3 ... international transaction of the assessee with its AEs. Subsequent to this, the Assessing officer issued a draft assessment order dated 17/03/2016 under section 143(3) read with section 144C(1) of the Act proposing adjustment of Rs.3,30,21,116/- and thus determining the total income at Rs.7

Oocl Logistics (India ). P.Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

In the result, appeal by the assessee is partly allowed for statistical purpose

ITA 7024/MUM/2012[2008-09]Status: DisposedITAT Mumbai23 Aug 2022AY 2008-09

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Ajit Jain a/wFor Respondent: Ms. Vatsalaa Jha

Section 115JSection 143(3)Section 144CSection 234DSection 271(1)(C)Section 271(1)(c)Section 92C(2)Section 92C(3)Section 92D

No.7024/Mum./2012 mean as provided in proviso to Section 92C(2) of the Act, while determining the arm's length price for the international transactions. 6. On the facts and in the circumstances of the case and in law, the learned Assessing Officer (AC has erred in adding the adjustment ... engaged in ‘provision of logistics services’ to its associated enterprises and also to non-associated enterprises. During the year, assessee entered into following international transactions with OOCL group entities (‘Associated Enterprises‟): Sl. Amount (in INR) Nature of International Transaction No. Provision of logistics services 14,45,20,802 1. Receipt

Eit Services India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

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

ITA 210/BANG/2021[2016-17]Status: DisposedITAT Bangalore22 Aug 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Shri Praveen Karanth, D.R

Section 133(6)Section 143(3)Section 92D

Determination of arm's length price by the TPO- a. The Transfer Pricing Officer ('the TPO) erred in rejecting the value of international transactions relating to software development services ('SWD services') and information technology enabled services ('ITE Services') as recorded in the books of accounts, as the arm's length ... adjustment of Rs. 52,48,00,000/- to the ITE services segment) to the income returned by the Appellant and in holding that the international transactions of provision of SWD services and ITE services by the Appellant to its Associated Enterprises ('AEs") was not at arm's length

Capita India Pvt Limited (Capita India), Mumbai vs. Nafc Delhi, Delhi

In the result, the appeal filed by the assessee is partly allowed

ITA 732/MUM/2022[2017-18]Status: DisposedITAT Mumbai18 Aug 2022AY 2017-18

Section 143(3)Section 14A

Bangalore. 4. The first issue relates to the addition made by the AO on account of transfer pricing adjustment. The assessee had entered into international transactions with its AE in the form of provision of ITES. It had received revenue of Rs.345.73 crores during the year under consideration ... above said companies was 6.07% and 65th Percentile was 17.87%. The median was 8.03%. Since the PLI was 14.75%, the assessee claimed that its international transactions have been entered at arm’s length. 5. The TPO rejected the transfer pricing study of the assessee. He selected following comparable companies

Zodiac Maritime Agencies India P. Ld., Mumbai vs. National E-Assesment Centre (Neac), Delhi

In the result, appeal by the assessee is partly allowed for statistical purpose

ITA 1225/MUM/2021[2016-17]Status: DisposedITAT Mumbai18 Aug 2022AY 2016-17

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Tejinder Pal Singh Anand

Section 143(3)Section 144BSection 144C(13)Section 234Section 234BSection 92C

adding an amount of Rs.10,86,103 to the total income through an: adjustment made to the Arm's Length Price with regards to international transactions entered into by the Appellant with its Associated Enterprise for the provision of services rendered to Associated Enterprise without considering the facts ... 10/11/2016, declaring total income of Rs.22,12,570. 5. During the course of assessment proceedings, it was observed that the assessee has entered into international transactions with its Associated Enterprises („A.E.‟) by way of mutual agreement. Accordingly, reference was made under section 92CA of the Act to the Transfer Pricing

M/S. Course5 Intelligence Private Limited (Formerly Cross Tab Marketing Services Private Limited), Bangalore vs. The Deputy Commissioner of Income Tax, Circle- 2(1)(1), Bangalore

In the result, the appeal filed by assessee stands allowed for statistical purposes

ITA 15/BANG/2020[2013-14]Status: DisposedITAT Bangalore18 Aug 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14 M/S. Course5 Intelligence Pvt. Ltd., (Formerly Cross Tab Marketing Services The Deputy Pvt. Ltd.) Commissioner Of No. 422, 80 Feet Income Tax, Road, Circle – 2(1)(1), 6Th Block, Vs. Bangalore. Koramangala, Bangalore – 560 095. Pan: Aabcc6525A Appellant Respondent : Shri Padam Chand Khincha, Assessee By Ca : Shri Srinivas Rao Bandaru, Revenue By Jcit Dr Date Of Hearing : 14-07-2022 Date Of Pronouncement : 18-08-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 14/10/2019 Passed By Ld.Cit(A)-2, Bangalore For A.Y. 2013-14 On Following Grounds Of Appeal: “1. The Learned Assessing Officer Had Erred In Passing The Order In The Manner Passed By Him & The Learned Cit (A) Has Erred In Partially Confirming The Same. The Orders Passed Being Bad In Law & Liable To Be Quashed.

For Respondent: Shri Padam Chand Khincha

Section 10ASection 143(2)Section 234B

determination of the Arm's Length Price ('ALP') by the assessing officer/TPO. 2.7 The reallocation of revenue of the branch does not constitute an international transaction. Transactions between a foreign Branch and an Indian Head Office do not constitute an international transaction under Chapter X of the Act. The branch ... neutral in the case of an Indian enterprise having a permanent establishment outside India. Making a transfer pricing adjustment in respect of the international transactions between the Indian head office and the foreign branch office will result into charging tax on income which is more than legitimately

Hp India Sales Private Limited, Bangalore vs. Joint Commissioner of Income Tax Ltu, Bangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 524/BANG/2017[2012-13]Status: DisposedITAT Bangalore18 Aug 2022AY 2012-13

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am It(Tp)A No.524/Bang/2017 : Asst.Year 2012-2013 M/S.Hp India Sales Private The Joint Commissioner Of Limited (Formerly Known As Income-Tax, Ltu V. Bangalore. Hewlett-Packard India Sales Private Limited), 24 Salarpuria Area, Hosur Main Road, Adugodi Bangalore – 560 030. Pan : Aaacc9862F. (Appellant) (Respondent) Appellant By : Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj Jain, Sri.Lalit Attal & Sri.Karon Dhanuka, Advoicates Respondent By : Sri.Harishchandra Naik, Cit-Dr Date Of Pronouncement : 18.08.2022 Date Of Hearing : 27.07.2022 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 03.01.2017 Passed U/S 143(3) R.W.S. 144C(13) Of The I.T.Act. The Relevant Assessment Year Is 2012-2013. 2. The Brief Facts Of The Case Are As Follows: The Assessee Is A Company Engaged In Import Of Computer Peripherals From Its Associated Enterprises (Aes) For Sale In India & Also Rendered Certain Support Services. The Return Of Income For Assessment Year 2012-2013 Was Filed On 29.02.2012, Admitting Total Income Of Rs.544,61,99,276. The Return Was Revised On 25.03.2014

For Appellant: Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj JainFor Respondent: Sri.Harishchandra Naik, CIT-DR

Section 143(2)Section 143(3)Section 144CSection 92BSection 92C

I.T.Act dated 12.08.2013 was issued and served on the assessee. During the course of assessment proceedings, it was noticed that international transaction with the AEs exceeded the prescribed limit, therefore, the matter was referred to the Transfer Pricing Officer (TPO) to determine the Arm’s Length Price ... erred in law and on facts of the case in determining the transfer pricing adjustment of Rs 290,335,855 in respect of alleged international transaction pertaining to excess Advertising, Marketing and Promotion ("AMP”) expenditure, alleging the same to be not at arm's length in terms of the provisions

Dell India Private Ltd., Bangalore vs. JCIT, Bangalore

In the result, the appeal filed by the assessee is partly allowed and the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 562/BANG/2015[2010-11]Status: DisposedITAT Bangalore18 Aug 2022AY 2010-11

Bench: Shri George George K. & Ms. Padmavathy S

For Appellant: Shri T. Suryanarayana, Senior AdvocateFor Respondent: Shri Praveen Karanth, CIT(DR)(ITAT), Bengaluru

Section 143(3)Section 92C

products and provides technical and marketing support services to its Associate Enterprises (AEs). For the relevant assessment year 2010-11, the assessee had certain international transactions inter alia being purchase of stock in trade (trading segment), provision of technical and marketing support services to its AEs, reimbursement and recovery ... while discussing the adjustment determined by the TPO. 3. In the TP study maintained for the year under consideration, the Assessee treated all the international transactions as being at arm’s length. During the year, the Assessee also recovered certain advertisement expenses from Intel USA (“Intel”) and Microsoft USA (“Microsoft

Tekla India P.Ltd, Navi Mumbai vs. ITO 15(3)(1), Mumbai

In the result, appeal by the assessee is partly allowed for statistical purpose

ITA 211/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Aug 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Divesh ChawlaFor Respondent: Shri Milind Chavan

Section 143(3)Section 144C(13)Section 253Section 40

return of income filed by the Assessee. Transfer Pricing Ground 2. erred in determining the arm's length price (ALP) in respect to the international transaction of management services availed by the Appellant from its Associate Enterprise (AE") at Rs. Nil. Reference to TPO 3. erred in making a reference ... invalid. Sufficient opportunity of being heard 4. erred in not providing sufficient opportunity of being heard while determining the ALP of the international transaction of availing of management services by the Appellant from its AE at Rs Nil. Benefit Test 5. erred in bolding that the Appellant has failed

Siddhayu Ayurvedic Research Foundtion P.Ltd, Mumbai vs. ITO 4(3)(4), Mumbai

In the result, appeal by the assessee is partly allowed

ITA 5027/MUM/2013[2008-09]Status: DisposedITAT Mumbai17 Aug 2022AY 2008-09

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Yogesh Thar a/wFor Respondent: Shri Tejinder Pal Singh Anand

Section 250Section 37(1)Section 928Section 92BSection 92C(3)

following grounds: M/s. Siddhayu Ayurvedic Research Foundation Pvt. Ltd. ITA No.5027/Mum./2013 “GROUND TREATING THE INTEREST PAID TO BANK CORPORATE GUARANTEE GIVEN AS AN INTERNATIONAL TRANSACTION UNDER SECTION SB OF THE ACT 1. On the facts and in the circumstances of the case ... upholding the action Transfer Pricing Officer (TPO)/Assessing Officer (AO) in treating the interest paid to bank and corporate guarantee fee as “international transaction” u/s 92B of the Act. 2. He failed to appreciate and ought to have held that: a. The Appellant was not into the business of providing

Assistant Commissioner of Income Tax Circle-2(3)(1), Mumbai vs. Tata Sons Limited, Mumbai

In the result, appeal by the Revenue is dismissed

ITA 4323/MUM/2017[2011-12]Status: DisposedITAT Mumbai16 Aug 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Ms. Aarti Vissanji a/wFor Respondent: Shri Tejinder Pal Singh

Section 143(2)Section 143(3)Section 250Section 92C

erred in not accepting that the guarantee given by the appellant on behalf of its wholly owned subsidiary. Tata Ltd. UK. is not an international transaction, as there is no cost and no bearing on profits, income, losses or assets of the Appellant. ii) The CIT(A) erred ... accepting the fact that providing corporate guarantee is a shareholder activity and therefore it is not an international transaction. iii) Without prejudice to the above grounds, the CIT(A) erred in not restricting the guarantee commission fee rate in the range of 0.20% to 0.50% as per recent jurisdictional decisions

Tata Sons Ltd., Mumbai vs. ACIT, Cir 2(3)(1), Mumbai

In the result, appeal by the Revenue is dismissed

ITA 4221/MUM/2017[2011-12]Status: DisposedITAT Mumbai16 Aug 2022AY 2011-12

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Ms. Aarti Vissanji a/wFor Respondent: Shri Tejinder Pal Singh

Section 143(2)Section 143(3)Section 250Section 92C