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“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

Kh Facility Solutions India Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle--5(1), Hyderabad

In the result, the appeal filed by the assessee is partly allowed in above terms

ITA 201/HYD/2022[2017-18]Status: DisposedITAT Hyderabad09 Sept 2024AY 2017-18

Bench: Shri Prakash Chand Yadav & Shri Madhusudan Sawdia

For Appellant: Shri H. Srinivasulu, AdvocateFor Respondent: : Ms. N. Swapna, CIT-DR
Section 143(1)Section 270A

u/s.143(1) of the Income Tax Act, 1961 (“the Act”) and thereafter the case of the assessee was selected for scrutiny. Since there was international transaction entered into by the assessee the Assessing Officer made a reference to the Transfer Pricing Officer (“TPO”) for determining the Arm’s Length Price ... international transaction vide reference dt.29.09.2019. Accordingly, the TPO conducted the TP Study and computed the ALP after making below mentioned adjustments vide order dt.29.01.2020. Aggrieved with the order of TPO, the assessee filed its objections before the Learned Dispute Resolution Panel (“Ld. DRP”) and contended that the TPO has erred

Red Hat India Pvt Ltd, Mumbai vs. Dy CIT Circle- 15 (3)(1), Mumbai

ITA 215/MUM/2020[2015-16]Status: DisposedITAT Mumbai09 Sept 2024AY 2015-16

Bench: Shri Gagan Goyal & Shri Raj Kumar Chauhanm/S. Red Hat India Pvt. Ltd., A-201, Supreme Business Park, Supreme City, Hiranandani Gardens, Powai, Mumbai – 400 076, Pan No. : Aabcr7091N. ….. Appellant

For Appellant: Shri Ajit Jain, Ms. Nikhila Bhalla and Archita Bhalla Ld. ARsFor Respondent: Shri Yogesh Kamat Ld. CIT-DR
Section 143(3)Section 144C(10)

direction of the Dispute Resolution Panel (DRP)-2, Mumbai, dated 30.09.2019. 2. The grounds of appeal read as under: Adjustment relating to international transaction pertaining to 1 payment of royalty and service fee: 1.1 The Ld. AO *along with the Learned Transfer Pricing Officer (‘Ld. TPO’)+ under the directions ... length price of payment of service fees and applying the ‘Other Method’ in contravention of Rule 10B of the Rules Adjustment relating to international transactions pertaining to provision of software support services: 1.4 On facts and in law, the Ld. AO erred in confirming the Ld. TPO’s action

Comparex India P.Ltd, New Delhi vs. ITO, Circle-4(2), New Delhi

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

ITA 2151/DEL/2022[2018-19]Status: DisposedITAT Delhi09 Sept 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

For Appellant: Shri Ajit Jain, ARFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143(2)Section 143(3)Section 144C(10)Section 144C(13)Section 144C(8)Section 92CSection 92C(3)

though e-filing portal. The case of the assessee was referred to TPO u/s 92CA(1) of the Act and subsequently, an adjustment to international transaction of Rs.2,24,36,553/- was proposed by the TPO vide order u/s 92CA(3) of the Act dated 27.07.2021. Accordingly, a show-cause ... rendering the assessment proceedings bad and invalid in law. Specific Grounds on Merits: A. Erroneous adjustment of INR 18,552,925 with respect to international transaction pertaining to Payment of shared service charges, holding fees and ERP fees 4. On the facts and in law, the Revenue erred in rejecting

Ebro India Pvt.Ltd., Delhi vs. ACIT Circle-7(1), Delhi

In the result, the ground no 4 raised by the assessee is allowed

ITA 1291/DEL/2022[2018-19]Status: HeardITAT Delhi09 Sept 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143(3)Section 144BSection 144CSection 68

through CASS and the reasons of selection for case were (i) substantial increase in share capital in a year; and (ii) large value of international transactions in the nature of guarantee. The statutory notices u/s 143(2) and 142 (1) of the Act were issued and served on the assessee ... such proceedings, - the TPO, vide notice dated 25.02.2021, inter-alia, required the assessee to submit the details of change in shareholding structure and other international transactions [refer pages 97-98 of paperbook]; and - in response thereto, the appellantvide reply dated 07.07.2021 submitted (as Annexure-11 to the reply), the details

Micro Focus Software Inc., Usa vs. The Deputy Commissioner of Income-Tax, Circle 3(2)(2), International Taxation, Mumbai

In the result, the appeal is allowed

ITA 4768/MUM/2023[2021-22]Status: DisposedITAT Mumbai06 Sept 2024AY 2021-22

Bench: Ms. Kavitha Rajagopal & Smt. Renu Jauhrimicro Focus Software Inc. V/S. Dcit,(International Tax) बनाम (Formerly Known As Novell Circle 3(2)(2), Inc.) 16Th Floor, Air India Laurel, Block D, 65/2, Building, Nariman Point, Bagmane Tech Park, C. V. Mumbai-400021 Raman Nagar, Byrasandra, Bangalore, Karnataka, India- 560093 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcn5034F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Ketan VedFor Respondent: Shri Anil Sant
Section 143(3)Section 144C(5)Section 234ASection 270A

estimated on a reasonable basis". The DTAA does not refer to arm's length payment. The principles contained in the matter of income from international transaction on an arm's length price are contained in section 92 of the Income- tax Act. The principles have been clarified by the Finance ... reasoning given by the Tribunal has to be set aside. In matters of tax what has to be considered and more so in international transactions if there be a treaty, the provisions of the treaty and if the provisions of the treaty are more advantageous to an assessee, then

DCIT, Circle-7(1), Delhi vs. Dlf Midtown Private Limited, Delhi

In the result, the appeal of the appellant assessee is allowed and appeal of Department of Revenue is dismissed

ITA 2859/DEL/2024[2016-17]Status: DisposedITAT Delhi06 Sept 2024AY 2016-17

Bench: DR. B.R.R. KUMAR (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 143(3)Section 92Section 92BSection 92C

subsequently revised on 30/11/2016 at a loss of Rs.1,93,73,902/-. The case was taken up for scrutiny. In view of the international transactions and “specified domestic transactions” with the AEs the case was referred to the Transfer Pricing Officer (TPO) for determination of arm’s length price

Dlf Midtown P. Ltd, New Delhi vs. ACIT, Circle-7(2), New Delhi

In the result, the appeal of the appellant assessee is allowed and appeal of Department of Revenue is dismissed

ITA 1963/DEL/2022[2016-17]Status: DisposedITAT Delhi06 Sept 2024AY 2016-17

Bench: DR. B.R.R. KUMAR (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 143(3)Section 92Section 92BSection 92C

subsequently revised on 30/11/2016 at a loss of Rs.1,93,73,902/-. The case was taken up for scrutiny. In view of the international transactions and “specified domestic transactions” with the AEs the case was referred to the Transfer Pricing Officer (TPO) for determination of arm’s length price

Ihs Global Private Limited, Srj Park, Tower One, Mobius Bk vs. Assistant Commissioner of Income Tax, Bengaluru

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

ITA 295/BANG/2024[2010-11]Status: DisposedITAT Bangalore04 Sept 2024AY 2010-11

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Aliasgar Rampurwala, CAFor Respondent: Shri DK Mishra, CIT (DR)
Section 143(3)Section 144BSection 144C(1)Section 153(5)Section 254Section 92C

vide letter dated 22nd January 2020 for deciding the issue on the exclusion of specified comparable while computing arms-length price of the international transaction in pursuance to the direction issued by the ITAT discussed above. Thus, from this fact it can be inferred that the order of the ITAT

M/S Emerson Automation Solutions Intelligent Platforms Pvt. Ltd, Bangalore vs. DCIT, C-3(1)(2), Bangalore

In the result, the Ground Nos

ITA 9/BANG/2019[2014-15]Status: DisposedITAT Bangalore30 Aug 2024AY 2014-15

Bench: Shri Prakash Chand Yadav & Shri Waseem Ahmedm/S Emersion Automation Solutios The Deputy Commissioner Intelligent Platforms Private Limited Of Income Tax, Circle- (Formerly M/S Ge Intelligent 3(1)(2), Bmtc Building, Platforms Private Limited), Velankani Vs. Koramangala, Bangalore Tech Park, Building 9, First Floor, 43 Hosur Road, Bangalore-560100 Pan – Aaacg7573K (Appellant) (Respondent) Assessee By: Sri. Sachit Jolly & Sri. Rishabh Malhotra, Advocates Revenue By: Sri. Subramanian. S, Jcit Date Of Hearing: 13.08.2024 Date Of Pronouncement: 30.08.2024 O R D E R Per: Prakash Chand Yadav,J.M. Present Appeal Of The Assessee Is Arising From The Order Of Ld. Ao / Drp Dated 30Th October, 2018. The Assessee Has Raised 19 Grounds Of Appeal Out Of Which Ground Nos. 1 To 5 Are General In Nature & Hence Not Required Specific Adjudication. Ground No. 6 Related To The Grievance Of The Assessee With Respect To The Adjustment Of Custom Duty, Base Cost, Working Capital Not Granted By The Ao While Completing The Assessment. Ground No. 7 Is With Respect To The Applicability Of Tnmm Method Instead Of Rpm Method Applied By The Assessee For Its Trading Segment Transactions. Ground Nos. 8, 9 & 10 Are Related To The Rejection Of Comparability Analysis Conducted By The Tpo As Affirmed By The Drp & Followed By Ao. Ground No. 11 Is With Respect To The Adjustment Of Working Capital Denied By Tpo Affirmed By Drp & Followed By Ao. Ground No. 12 Is With Respect To The Disallowance Of Foreign Exchange Fluctuation & Ground Nos. 13 & 14 Is With Respect To The Payments Made To Headquarters In Lieu Of Services Obtained By Applying

For Appellant: Sri. Sachit Jolly & Sri. RishabhFor Respondent: Sri. Subramanian. S, JCIT
Section 115JSection 142(1)Section 143Section 143(1)Section 143(2)Section 143(3)Section 144Section 144CSection 271(1)(b)Section 5

assessee company appeared and produced details and evidences called for. 4. During the relevant financial year, it was observed that the assessee had international transaction exceeding Rs. 15 crores. Therefore, with the prior approval of the Commissioner of Income-tax, Bangalore-I, Bangalore, a reference was made to the Transfer

Nokia India Pvt. Ltd., Gurgaon vs. JCIT, Special Range-6, New Delhi

In the result, the appeal filed by the assessee is partly allowed as indicated above

ITA 7745/DEL/2018[2014-15]Status: DisposedITAT Delhi30 Aug 2024AY 2014-15

Bench: disregarding the ALP determined by the Appellant and proceeded to determine the ALP himself.

Section 143(3)Section 144CSection 92CSection 92C(3)Section 92D

making several observations and inferences in the impugned assessment order which are factually incorrect and legally untenable. Transfer Pricing ("TP") adjustment in relation to international transactions pertaining to sale of mobile phones and accessories ("NMP segment"). 2. That on the facts of the case ... have erred, in making an adjustment of INR 310,52,40,000 to the total income of the Appellant in respect of international transactions pertaining to the NMP segment of the Appellant. Nokia India Pvt. Ltd. vs. JCIT 2.1. That on the facts of the case

DCIT, New Delhi vs. M/S. Sony India Pvt. Ltd., New Delhi

In the result, appeal filed by the assessee is partly allowed as indicated above and appeal filed by the revenue is dismissed

ITA 1166/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Aug 2024AY 2010-11

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143Section 143(2)Section 143(3)Section 92C

assessee is engaged primarily in import and distribution of authorised Sony products (audio/visual entertainment products) in the Indian market. The assessee had undertaken international transactions with its Associated Enterprises (AE) and it has entered into international transactions which was more than Rs.15 crores. By following approval process under section 92CA ... Income-tax Rules, 1962 was submitted. 5. After considering the documents submitted by the assessee, ld. TPO observed that the assessee has entered into international transactions mainly engaged in import and distribution of various Sony consumer electronic products in India and it has also rendered software services through Software Architecture

Sony India Private Limited, New Delhi vs. Deputy Commissioner of Income-Tax, New Delhi

In the result, appeal filed by the assessee is partly allowed as indicated above and appeal filed by the revenue is dismissed

ITA 1026/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Aug 2024AY 2010-11

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143Section 143(2)Section 143(3)Section 92C

assessee is engaged primarily in import and distribution of authorised Sony products (audio/visual entertainment products) in the Indian market. The assessee had undertaken international transactions with its Associated Enterprises (AE) and it has entered into international transactions which was more than Rs.15 crores. By following approval process under section 92CA ... Income-tax Rules, 1962 was submitted. 5. After considering the documents submitted by the assessee, ld. TPO observed that the assessee has entered into international transactions mainly engaged in import and distribution of various Sony consumer electronic products in India and it has also rendered software services through Software Architecture

DCIT, Circle -1 (1), Tirupati vs. Dasan India Private Limited, Vijaywada

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

ITA 126/HYD/2022[2017-18]Status: DisposedITAT Hyderabad29 Aug 2024AY 2017-18

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

For Appellant: Shri H Srinivasulu, AdvFor Respondent: : Shri Kumar Pranav, CIT-
Section 143(3)

assessee filed the return of income on 30/11/2017, declaring loss of Rs. 9,95,903/-. In view of the international transaction of import of products from the AEs, determination of Arm’s Length Price (“ALP”) was referred to the learned Transfer Pricing Officer (“ Ld. TPO”). The assessee had adopted Resale

Borgwarner Emissions Systems India Private Limited, New Delhi vs. DCIT, Circle-4(2), Delhi

Appeal is allowed

ITA 2015/DEL/2022[2013-14]Status: DisposedITAT Delhi29 Aug 2024AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Narinder Kumar

For Appellant: Shri Rohit Tiwari, AdvocateFor Respondent: Shri Rajesh Kumar, CIT(DR)
Section 143(3)Section 234BSection 271(1)(c)Section 92C

234B, 234C and 234D. Even penalty proceedings under section 271(1)(c) were also directed to be initiated separately. The two additions pertain to international transactions regarding: (i) payment for Business support service (BSS); (ii) Payment for Technical support service (TSS); and (iii) Royalty payment. The issues involved herein ... ground No.2 were set aside and matter was remanded to the files of Learned TPO/Assessing Officer to determine ALP of the impugned 3 international transactions, whereas grounds No.1,4 and 5, which were general in nature, were dismissed. Admittedly, while restoring the matters, certain directions were issued by the Appellate

Thermo Fisher Scientific India P. Ltd, Mumbai vs. ITO-15(3)(1), Mumbai

ITA 988/MUM/2021[2016-17]Status: DisposedITAT Mumbai28 Aug 2024AY 2016-17

Bench: Shri Amarjit Singh & Shri Rahul Chaudhary

Section 143(2)Section 144CSection 144C(5)Section 153

sale (including trading) of scientific/medical laboratories equipments and chemicals. During the course of assessment, the assessing officer noticed that assessee company has entered into international transaction with associated enterprises amounting to Rs. 501,73,08,760/-. The Transfer Pricing Officer (TPO), DCIT, (TP) 4(2)(1), 3 ITA No.988/Mum/2021 Thermo ... Fisher Scientific India Private Limited Α.Υ. 2016-17 Mumbai vide order dated 01.11.2019 has made adjustment to the international transaction amounting to Rs. 33,83,31,881/-. Accordingly, the assessing officer has made an adjustment of the above amount and added to the total income of the assessee

Deputy Commissioner of Income Tax-9(1)(1), Mumbai vs. M/S. Afcons Infrastructure Ltd, Mumbai

In the result, appeals of the revenue are dismissed and cross- objections raised by the assessee are allowed

ITA 5296/MUM/2019[2012-13]Status: DisposedITAT Mumbai22 Aug 2024AY 2012-13

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri J.D. Mistri, Sr. Advocate/Shri Ninad Patade, A/RsFor Respondent: Shri Rajesh Pardeshi, Sr. D/R
Section 92B

went to the assessee. Even it I.T.A. No. 2390/Mum/2017 I.T.A. No. 5296/Mum/2019 C.O. No. 02/Mum/2024 C.O. No. 03/Mum/2024 4 is to be treated as international transaction, then also under the scope and meaning of international transaction as defined in Section 92B- “92B. (1) For the purposes of this section ... sections 92, 92C, 92D and 92E, "international transaction" means a transaction between two or more associated enterprises, either or both of whom are non-residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of services, or lending or borrowing money, or any other

DCIT 9(1)(1), Mumbai vs. Afcon Infrastructure Ltd, Mumbai

In the result, appeals of the revenue are dismissed and cross- objections raised by the assessee are allowed

ITA 2390/MUM/2017[2011-12]Status: DisposedITAT Mumbai22 Aug 2024AY 2011-12

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri J.D. Mistri, Sr. Advocate/Shri Ninad Patade, A/RsFor Respondent: Shri Rajesh Pardeshi, Sr. D/R
Section 92B

went to the assessee. Even it I.T.A. No. 2390/Mum/2017 I.T.A. No. 5296/Mum/2019 C.O. No. 02/Mum/2024 C.O. No. 03/Mum/2024 4 is to be treated as international transaction, then also under the scope and meaning of international transaction as defined in Section 92B- “92B. (1) For the purposes of this section ... sections 92, 92C, 92D and 92E, "international transaction" means a transaction between two or more associated enterprises, either or both of whom are non-residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of services, or lending or borrowing money, or any other

Gates India Pvt Ltd, Delhi vs. ACIT, Circle-10(1), Delhi

In the result, the appeal of the assessee is allowed

ITA 2379/DEL/2022[2018-19]Status: DisposedITAT Delhi22 Aug 2024AY 2018-19

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia

For Appellant: Shri M.P. Rastogi, AdvFor Respondent: Shri Rajesh Kumar, CIT-(DR)
Section 143(3)Section 144CSection 144C(13)Section 144C(5)Section 92CSection 92C(1)

assessee was referred to Transfer Pricing Officer (TPO) under Section 92CA(1) for determination of Arm’s Length Price (ALP) of the international transactions undertaken by the assessee during Financial Year 2017-18 relevant to Assessment Year 2018-19. The TPO, New Delhi vide order dated 30.07.2021, made Transfer Pricing ... justified and ought not to have been replaced by CUP method. (ii) The action of TPO / AO to treat management services as separate international transaction without bifurcation/ segregation would lead to unusual and incongruous results. (iii) Same principle has been reiterated in the case of Magneti Marelli Power Train India

Hyundai Motor India Limited, Kancheepuram vs. DCIT Non Corp Circle 8(1), Chennai

In the result, appeal filed by the assessee is dismissed

ITA 609/CHNY/2024[2016-17]Status: DisposedITAT Chennai21 Aug 2024AY 2016-17

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 609/Chny/2024 िनधा"रणवष" / Assessment Year: 2016-17 Deputy Commissioner Of Income M/S. Hyundai Motor India V. Tax, Limited, Non Corporate Circle – 8(1), Plot No. H-1, Sipcot Chennai – 600 034. Industrial Park, Irungatukottai, Sriperumbudurtaluk, Kancheepuram District, Tamil Nadu – 602 117. [Pan: Aaach-2364-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S.P. Chidambaram, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nanda Kumar, Cit सुनवाई क" तार"ख/Date Of Hearing : 06.06.2024 घोषणा क" तार"ख/Date Of Pronouncement : 21.08.2024 आदेश /O R D E R

For Appellant: Shri. S.P. Chidambaram, AdvocateFor Respondent: Shri. V. Nanda Kumar, CIT
Section 115JSection 143(3)Section 14ASection 250Section 43BSection 92

under normal provisions of the Act and book profit u/s.115JB of the Act at Rs.1918,63,89,313/-. The assessee had entered into various international transactions with its AEs and international transactions were duly reported in Form 3CEB filed in accordance with provisions of Indian Transfer Pricing Regulations contained ... scrutiny and during the course of assessment proceedings; a reference was made to JCIT (Transfer Pricing) for determination of arm’s length price of international transactions of the assessee with its AEs. The learned TPO vide its order dated 01.11.2019 has suggested upward adjustment for brand development services

Hyundai Motor India Limited, Kancheepuram vs. DCIT Non Corp Circle 8(1), Chennai

In the result the appeal of the assessee is allowed

ITA 608/CHNY/2024[2013-14]Status: DisposedITAT Chennai21 Aug 2024AY 2013-14

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 608/Chny/2024 िनधा"रणवष" / Assessment Year: 2013-14 Deputy Commissioner Of Income M/S. Hyundai Motor India V. Tax, Limited, Non Corporate Circle – 8(1), Plot No. H-1, Sipcot Chennai – 600 034. Industrial Park, Irungatukottai, Sriperumbudurtaluk, Kancheepuram District, Tamil Nadu – 602 117. [Pan: Aaach-2364-M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S.P. Chidambaram, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nanda Kumar, Cit सुनवाई क" तार"ख/Date Of Hearing : 06.06.2024 घोषणा क" तार"ख/Date Of Pronouncement : 21.08.2024 आदेश /O R D E R

For Appellant: Shri. S.P. Chidambaram, AdvocateFor Respondent: Shri. V. Nanda Kumar, CIT
Section 115JSection 143(3)Section 14ASection 154Section 250Section 43BSection 92

Short “the Act”) and book profit u/s.115JB of the Act at Rs.2145,05,22,193/-. The assessee had entered into various international transactions with its Associated Enterprises (AEs) and international transactions were duly reported in Form 3CEB filed in accordance with provisions of Indian Transfer Pricing :-3-: ITA. No:608/Chny/2024 ... during the course of assessment proceedings, a reference was made to JCIT (Transfer Pricing) for determination of Arm’s Length Price (ALP) of international transactions of the assessee with its AEs. The learned TPO vide its order dated 31.10.2016 has suggested certain transfer pricing adjustments towards downward adjustment