“international transaction”

Goldman Sachs (India) Securities Pvt.Ltd, Mumbai vs. ACIT Cir 7 (1) (1), Mumbai

In the result, ground no. 8 and 9 are allowed for statistical purpose

Bench: Shri Pawan Singh&Girish Agrawal(Physical Hearing) Goldman Sachs (India) Securities Acit, Circle-7(1)(1), Private Limited, 951-A, Rational House, Vs Aayakarbhawan, Mumbai- Appasaheb Marathe Marg, Prabhadevi, 400020. Mumbai-400025. [Pan No. Aafca6819F] Appellant / Assessee Respondent / Revenue

upward transfer pricing adjustment to the extent of Rs 19,80,000 by re-computing the Arm's Length Price (ALP) of the international transaction pertaining to provision of non-binding investment advisory and support services (IA services) by the Appellant to its associated enterprises (AEs), inter alia, on following ... upward transfer pricing adjustment to the extent of Rs 23,32,37,536 by re-computing the Arm's Length Price (ALP) of the international transaction pertaining to provision of Information Technology enabled Services (ITeS) by the Appellant to its associated enterprises (AEs), inter alia, on following grounds: a) Rejecting

M/S. Essar Shipping Ltd, Mumbai vs. DCIT, Circle 5(1)(1), Mumbai

In the result, the appeal of the assessee is In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2021-22 M/S Essar Shipping Ltd., Dy. Cit, Circle 5(1)(1), 5Th Floor, Essar House, 11, Keshav Mumbai/Assessment Unit, Vs. Rao Khadye Marg, Mahalaxmi National Faceless Assessment Mumbai-400034. Centre, Room No. 568, Aayakar Bhavan, M.K. Road, Mumbai-400020. Pan No. Aacce 3707 D Appellant Respondent

scrutiny proceedings, the Assessing Officer observed course of the scrutiny proceedings, the Assessing Officer observed course of the scrutiny proceedings, the Assessing Officer observed international transactions carried out by the assessee and international transactions carried out by the assessee and international transactions carried out by the assessee and accordingly issue ... those accordingly issue of determination of arm’s length price of those accordingly issue of determination of arm’s length price of those international transactions was referred to th international transactions was referred to the Ld. Transfer Pricing e Ld. Transfer Pricing Officer. The Transfer Pricing Officer (TPO) propose Officer

Troy Chemical India Private Limited, Mumbai vs. CIT (A), NFAC, Mumbai

In the result, the appeal by the assessee is allowed

Bench: Shri Sandeep Singh Karhailshri Bijayananda Pruseth

return of income on 14.02.2022 declaring a total income of Rs.2,33,200/- During the year under consideration, the assessee has entered into an international transaction with Troy Siam Company Ltd., which is incorporated under the laws of Thailand, and is an indirect subsidiary of Troy Corporation, USA. Troy Siam ... speciality chemicals used in paint, wood preservation, coatings and other allied industries. As per Form 3CEB, the assessee declared the following details of international transactions entered into with the Associated Enterprise (“AE"): - Sr. No. Nature Transaction Name of the Associated Enterprise Amounts in INR Method adopted for benchmarking 1. Purchase

Friday Storytellers LLP, Mumbai vs. ITO, Ward, 4(2)(1), Mumbai

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

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

Income-tax Act, 1961 (“the Act”), and accordingly, statutory notices were issued. The assessee furnished partial responses thereto. In view of an international transaction involving 'Line Production Services' availed from its Associated Enterprise (AE), namely M/s Friday Storytellers Ltd. (“Friday Ltd."), the Assessing Officer made a reference under section 92CA ... considering the submissions made during the course of proceedings, proposed a downward adjustment of ₹2,09,75,436/- to the value of the international transaction. The Assessing Officer, accordingly, incorporated the said adjustment in the draft assessment order dated 17.11.2023. Aggrieved by the proposed adjustment, the assessee filed objections before

DCIT-CC-4(3), Mumbai vs. Era Realtors Private Limited, Mumbai

In the result, the ground No

Bench: Shri Pawan Singh, Hon'Bleshri Girish Agrawal, Hon'Ble

originally barred by limitation on 31 December 2017. It was further recorded that as per Audit report on Form 3CEB, the assessee reported international transaction with its associated enterprises. The assessing officer further noted that matter was referred to transfer pricing officer (TPO) for computation of arm's-length price ... assessments in the case were originally barred by limitation on 31.12.2017. However, as per assessee's 3CEB report, it is found that the following international transaction was done by the assessee:- Sr. No. Name of the Nature of Transactions Associated Enterprises Amount (Rs.) 1. Thirdscroll Holdings Issue

Uniphos Enterprises Ltd, Mumbai vs. Addl CIT Cen RG IX, Mumbai

In the result, the appeal of assessee is allowed

being commission @0.6% on the amount of guarantee provided. The Id AR of the assessee submits that extending corporate financial guarantee is not an international transaction, yet to avoid future litigation, the TPO/AO may be directed to re-compute addition @ 0.3% on the corporate financial guarantee provided. 65.On the other

Asst CIT CC 38, Mumbai vs. Uniphos Enterprises Ltd, Mumbai

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

being commission @0.6% on the amount of guarantee provided. The ld AR of the assessee submits that extending corporate financial guarantee is not an international transaction, yet to avoid future litigation, the TPO/ AO may be directed to re-compute addition @ 0.3% on the corporate financial guarantee provided

Addl CIT Cen RG IX, Mumbai vs. Uniphos Enterprises Ltd ( Formlery Known As United Phosphorus Ltd), Mumbai

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

being commission @0.6% on the amount of guarantee provided. The ld AR of the assessee submits that extending corporate financial guarantee is not an international transaction, yet to avoid future litigation, the TPO/ AO may be directed to re-compute addition @ 0.3% on the corporate financial guarantee provided

Uniphos Enterprises Ltd ( Formerly Known As United Phosphorus Ltd), Mumbai vs. Addl CIT Cen RG IX, Mumbai

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

being commission @0.6% on the amount of guarantee provided. The ld AR of the assessee submits that extending corporate financial guarantee is not an international transaction, yet to avoid future litigation, the TPO/ AO may be directed to re-compute addition @ 0.3% on the corporate financial guarantee provided

The ACIT CC-38, Mumbai vs. M/S. United Phosphorous Ltd, Mumbai

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

being commission @0.6% on the amount of guarantee provided. The ld AR of the assessee submits that extending corporate financial guarantee is not an international transaction, yet to avoid future litigation, the TPO/ AO may be directed to re-compute addition @ 0.3% on the corporate financial guarantee provided

M/S. United Phosphorus Ltd(Now Known As Uniphos Enterprises Ltd), Mumbai vs. The DCIT Cen Cir-38, Mumbai

In the result, the appeal of assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

being commission @0.6% on the amount of guarantee provided. The ld AR of the assessee submits that extending corporate financial guarantee is not an international transaction, yet to avoid future litigation, the TPO/ AO may be directed to re-compute addition @ 0.3% on the corporate financial guarantee provided

DCIT Circle 5(1)(1), Mumbai vs. Arjav Diamonds (India) Pvt. Ltd, Mumbai

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm Deputy Commissioner Of Income Tax Arjav Diamonds (India) Pvt. Ltd. - 5(1)(1) Cc, 9010A Bharat Diamond Bourse, Deputy Commissioner Of Income-Tax, Bandra Kurla Complex, Bandra East, Vs. Circle 5(1)(1), R.No.568, Aaykar Mumbai-400051. Bhavan, M.K. Road, Mumbai - 400020. Pan/Gir No. Aagca2472D (Appellant) : (Respondent) Assessee By : Shri. Fenil Bhat Respondent By : Dr. K. R. Subhash, (Cit-Dr) Date Of Hearing : 10.03.2025 Date Of Pronouncement : 29.05.2025 O R D E R Per Kavitha Rajagopal, J M: This Appeal Has Been Filed By The Revenue, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals), Mumbai (‘Ld.Cit(A)’ For Short), Passed U/S.250 Of The Income Tax Act, 1961 (‘The Act'), Pertaining To The Assessment Year (‘A.Y.’ For Short) 2013-14. 2. The Assessee Has Raised The Following Grounds Of Appeal: “(I) "Whether, On The Facts & Circumstances Of The Case & As Per Law, The Ld. Cit (A) Is Justified In Deleting The Penalty Of Rs. 16,13,66,235/-Levied U/S 271G Of The It Act, 1961 When The Statutory Requirement Of Rule 10B(1)(E), Stating The Methodology For Benchmarking Transactions Using Tnmm, States That The Net Profit Margin From The Controlled International Transaction & The Uncontrolled International Transactions Should Be Separately Provided By The Assessee & Their Statutory Requirement Has Not Been Fulfilled By The Assessee?" Arjav Diamonds (India) Pvt. Ltd.

statutory requirement of Rule 10B(1)(e), stating the methodology for benchmarking transactions using TNMM, states that the net profit margin from the controlled international transaction and the uncontrolled international transactions should be separately provided by the assessee and their statutory requirement has not been fulfilled by the assessee?" Arjav ... rough and polished diamonds. The assessee’s case was selected for scrutiny where the Ld. AO observed that the assessee has entered into various international transactions with its AE as per 2 Arjav Diamonds (India) Pvt. Ltd. its form 10CEB and the Ld. AO made a reference

Beauty Etoile Private Limited, Mumbai vs. Assessment Unit, Income Tax Department, Delhi

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri Girish Agrawalassessment Year: 2020-21

filed its return of income of 22.10.2021, reporting total income at Rs 1,77,48,135/. During the year, assessee had only one international transaction, which was reported in Form 3CE, details of which is tabulated below: Sr.No. Nature of Name of AE Amount Method international (in Rs.) Adopted ... thin capitalization, ld. TPO in para 5.7 of his order, took the restriction imposed by section 92B as a reference for benchmarking, the impugned international transaction of payment of interest on NCDs for arriving at its ALP. Ld. TPO thus, applied “other method”, whereby conditions prescribed in section 94B were