“CUP method”

Aditya Birla Nuvo Ltd (Since Amalgamated With Grasim Industries Limited), Mumbai vs. DCIT CC-1(4) Earlier With ACIT(Ltu) 1, Mumbai

In the result, theappeals filed by the assessee and revenue are partly

Bench: The Hon’Bleunder Section 255(4) Of The Act. The Points Of Difference Were Thereafter Referred To The Hon’Blefor Resolution. The Hon’Blehas Now Rendered His Detailed Opinion & The Appeals Have Been Placed Before Us To Pass The Consequential

plant. Whereas, according to the TPO, GUVNL is capital intensive and requires a license for distribution of power. The TPO observed that while applying CUP method close comparability in specific characteristics of goods and services has to be the other comparability factor. 10. Learned counsel submitted, TPO took ... tariffs. However, we accept that there is a sufficient degree of similarity between the said transaction for reasonably determining the ALP by using the CUP method. 57. We also consider it apposite to refer to the recent decision of the Supreme Court in Commissioner of Income Tax v. Jindal Steel

ACIT 5(1)(1), Mumbai vs. Dharmanandan Diamonds Pvt. Ltd., Mumbai

In the result, the appeal of the Revenue is dismissed

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassistant Commissioner Of V/S. Dharmanandan Diamonds Income Tax – 5(1)(1) बनाम Pvt. Ltd., Fc 7081 7082, Room No. 568, 5Th Floor, Bharat Diamond Bourse, G- Aaykar Bhavan, Churchgate, Block, Bandra Kurla Complex, Mumbai – 400 020, Bandra (East), Mumbai – Maharashtra 400 051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaccd6676J Appellant/अपीलार्थी .. Respondent/प्रतिवादी

further unable to comprehend that as to on what basis the TPO expected the assessee to have carried out the benchmarking by following CUP method. We are of the considered view that as the comparison by internal CUP method could only be made if two lots of diamonds were similar ... business of diamond trading and are of the considered view that the insistence of the TPO that the assessee should have followed CUP method was misconceived and impractical. We are in agreement with the CIT(A) that if the TPO would had carried out a comparison of the Profit & loss

DCIT Circle 3 3 1, Mumbai vs. Xoriant Solutions Private Limited, Mumbai

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: Shri Amit Shukla & Shri Girish Agrawal

comparables selected by the TPO are broadly engaged in development of software products similar to the assessee, by going into strict comparison like CUP method? 17. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is correct in directing to exclude the above ... comparables selected by the TPO are broadly engaged in development of software products similar to the assessee, by going into strict comparison like CUP method? xvii) Whether on the facts and circumstances of the case and in lave, the Ld. CIT(A) is correct in directing to exclude the above

DCIT Circle 3 3 1, Mumbai vs. Xoriant Solutions Private Limited, Mumbai

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: Shri Amit Shukla & Shri Girish Agrawal

comparables selected by the TPO are broadly engaged in development of software products similar to the assessee, by going into strict comparison like CUP method? 17. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is correct in directing to exclude the above ... comparables selected by the TPO are broadly engaged in development of software products similar to the assessee, by going into strict comparison like CUP method? xvii) Whether on the facts and circumstances of the case and in lave, the Ld. CIT(A) is correct in directing to exclude the above

DCIT Central Circle-1(1), Mumbai vs. S Vinodkumar Diamonds Private Limited, Mumbai

Accordingly, Ground No.1 & 2 raised by the Revenue are treated as allowed for statistical purpose

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

Associated Enterprises is same. Therefore, outstanding receivable, despite being an international transaction, no interest is required to be charged. As according to CUP method there is no difference between the Associated Enterprises transaction credit days and non Associated Enterprises credit period. 09. xx xx 010. The learned Departmental Representative vehemently ... supported the orders of the lower authorities. On the issue of outstanding receivable he submitted that if assessee would like to take benefit of CUP method then assessee has to show the similar credit period allowed to the non Associated Enterprises on the similar time period. He further stated that

DCIT Central Circle-1(1), Mumbai vs. S Vinodkumar Diamonds Private Limited, Mumbai

Accordingly, Ground No.1 & 2 raised by the Revenue are treated as allowed for statistical purpose

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

Associated Enterprises is same. Therefore, outstanding receivable, despite being an international transaction, no interest is required to be charged. As according to CUP method there is no difference between the Associated Enterprises transaction credit days and non Associated Enterprises credit period. 09. xx xx 010. The learned Departmental Representative vehemently ... supported the orders of the lower authorities. On the issue of outstanding receivable he submitted that if assessee would like to take benefit of CUP method then assessee has to show the similar credit period allowed to the non Associated Enterprises on the similar time period. He further stated that

Michael Page International Recruitment Pvt Ltd, Mumbai vs. DCIT Circle 14(1)(1), Mumbai

IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA