← All Phrases

“tested party”

Transfer PricingSection 92CSection 92C615 judgments

The decision most relied on for tested party is ITO v. E Value Serve.com (75 Taxmann.com 195), cited in 60 judgments on BharatTax.

Leading authorities on tested party

ITO v. E Value Serve.com
75 Taxmann.com 195 · 2016 · Reported
60
citing judgments

In transfer pricing analysis, demanding daily balances for working capital adjustments is impractical and improper; adjustments should be based on opening and closing working capital. Transfer pricing inherently involves estimation to ensure comparability.

Ranbaxy Laboratories Ltd. v. ACIT
68 Taxmann.com 322 · 2016 · High Court
55
citing judgments

When benchmarking export transactions, the Associated Enterprise (AE) can be considered the tested party if it possesses the least complex functional analysis. The Assessing Officer's acceptance of a methodology in prior years can also support its use.

Capital IQ Information Systems India Pvt. Ltd. v. DCIT
32 Taxmann.com 21 · 2013 · ITAT
44
citing judgments

A change in depreciation policy impacts an entity's profitability, which is a key factor in assessing its suitability as a comparable company for transfer pricing analysis.

Skoda Auto India (P) Ltd. v. ACIT, Aurangabad
30 SOT 319 · 2009 · ITAT
26
citing judgments

The Tribunal may allow adjustments for differences between the tested party and comparable companies to eliminate material differences, provided accurate and credible evidence is furnished.

Development Consultants Pvt. Ltd. v. DCIT
115 TTJ 577 · 2008 · ITAT
24
citing judgments

The Arm's Length Price (ALP) must be determined on a transaction-by-transaction basis, and transactions should only be evaluated together if they are so closely linked or continuous that they cannot be adequately assessed separately. The 'tested party' for determining ALP should be the least complex entity.

Pr. CIT v. Aptara Technology (P.) Ltd.
92 Taxmann.com 240 · 2018 · High Court
23
citing judgments

A comparable company is not suitable if it has a significantly different business model, such as substantially higher outsourcing expenses as a percentage of operating costs, indicating a deviation from the tested party's operations.

Ranbaxy Laboratories Ltd. v. Additional Commissioner of Income-tax
110 ITD 428 · 2008 · ITAT
22
citing judgments

The tested party in a transfer pricing analysis should be the entity for which reliable comparable data is readily available and requires the fewest adjustments. This generally means selecting the party with the less complex functional analysis.

Smt. Raj Rani Devi Ramna v. CIT
201 ITR 1032 · 1993 · High Court
21
citing judgments

The transfer of property does not necessarily occur upon registration; the true test is the intention of the parties and whether there are any conditions precedent like payment of consideration or delivery of the deed.

Judgments citing tested party

R A K Ceremics India Private Limited, Hyderabad vs. DCIT, Circle-3(1), Hyderabad

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

ITA 61/HYD/2023[2014-15]Status: DisposedITAT Hyderabad09 May 2024AY 2014-15

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia, Accounant Member Assessment Year: 2014-15 R.A.K. Ceramics India Vs. The Deputy Commissioner Of Private Limited, Income Tax, P.O Box No.11, Circle 3(1), Adb Road, Samalkot, Hyderabad. Andhra Pradesh. Pin – 53340, Pan : Aaccr6424N. (Appellant) (Respondent) Assessee By: Shri Aliasagar Rampurwala, C.A. Revenue By: B. Balakrishna – Cit Dr Date Of Hearing: 01.05.2024 Date Of Pronouncement: 09.05.2024 O R D E R Per Laliet Kumar, J.M. The Appeal Of The Assessee For A.Y. 2014-15 Arises From The Assessment Order Of The Deputy Commissioner Of Income Tax, Circle – 3(1), Hyderabad Passed U/S 143(3) R.W.S. 144C(13) R.W.S. 254 Of The Income Tax Act Dated 28.11.2022. 2. The Grounds Raised By The Assessee Read As Under :

For Appellant: Shri Aliasagar Rampurwala, C.AFor Respondent: B. Balakrishna – CIT DR
Section 143(2)Section 143(3)Section 144C(5)Section 271BSection 92C

Panel has erred in considering certain cost elements as non-operating in nature while computing operating margins of tested party and comparable companies. 5. On the facts and in the circumstances of the case and in law, Ld. AO has erred in crystalizing tax demand by ignoring the MAT credit

Mankind Pharma Limited, Delhi vs. DCIT, Circle-1(1)(1), Meerut

In the result, the additional Ground No

ITA 2313/DEL/2022[2018-19]Status: DisposedITAT Delhi01 May 2024AY 2018-19

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

For Appellant: Shri Gaurav Jain, AdvFor Respondent: Shri Rajesh Kumar, CIT (DR)
Section 143(3)Section 144BSection 144C(13)Section 153(3)Section 270ASection 35Section 80GSection 80I

assessee being an entrepreneur is engaged in activities such as research and development, brand building and advertising and therefore cannot be selected as the tested party for the purpose of undertaking benchmarking analysis. 3.3 That the assessing officer/TPO erred on facts and in law in not appreciating that the associated ... enterprises being the simpler of the transacting entities ought to have been selected as the tested party. 3.4 That the assessing officer / TPO erred in facts and in law in selecting functionally different companies as comparable for the purpose of undertaking benchmarking analysis Re: Disallowance of deduction under section

M/S. Atul Ltd., Ahmedabad vs. The Dy.CIT, Circle-1(1)(2), Ahmedabad

The appeal of the assessee is partly allowed in the above terms for statistical purpose

ITA 446/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad26 Apr 2024AY 2010-11

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarit(Tp)A No.446/Ahd/2015 Assessment Year : 2010-11 M/S.Atul Limited Dcit, Cir.1(1)(2) Atul House Vs Ahmedabad. Gi Patel Marg Ahmedabad 380 014. Pan : Aabca 2390 M

For Appellant: Shri S.N. Soparkar, Sr.Advocate &For Respondent: Dr.Darsi Suman Ratnam, CIT-DR
Section 143(3)Section 144Section 92C

erred in law and on facts in confirming action of TPO rejecting alternative contention of the appellant to consider associated enterprise as tested party in case of application of internal comparables over external comparables as considered by the appellant. Ld. DRP ought to have accepted alternative contention of the appellant

Crm Services India Private Limited, New Delhi vs. DCIT, Circle-4(2), New Delhi

The appeals of the assessee are allowed with consequential effect

ITA 1519/DEL/2022[2010-11]Status: DisposedITAT Delhi08 Apr 2024AY 2010-11

Bench: Shri Shamim Yahya & Shri Anubhav Sharma

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Rajesh Kumar, CIT-DR
Section 254

year under consideration, for the purpose of benchmarking transaction of payment of royalty applying TNMM, the appellant has considered itself as the tested party and OP/OC as the PLI. The result of TNMM analysis is summarized herein below: Particulars OP/OC Average of OP/OC of 16 comparable companies 3.71% OP/OC

Crm Services India Private Limited, New Delhi vs. DCIT, Circle-4(2), New Delhi

The appeals of the assessee are allowed with consequential effect

ITA 1518/DEL/2022[2009-10]Status: DisposedITAT Delhi08 Apr 2024AY 2009-10

Bench: Shri Shamim Yahya & Shri Anubhav Sharma

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Rajesh Kumar, CIT-DR
Section 254

year under consideration, for the purpose of benchmarking transaction of payment of royalty applying TNMM, the appellant has considered itself as the tested party and OP/OC as the PLI. The result of TNMM analysis is summarized herein below: Particulars OP/OC Average of OP/OC of 16 comparable companies 3.71% OP/OC

Thermax Babcock & Wilcox Energy Solution Limited, Mumbai vs. Addl/Jt/Dy/CIT/Asstt/ITO/NFAC, Delhi

ITA 739/MUM/2022[2017-18]Status: DisposedITAT Mumbai04 Apr 2024AY 2017-18

Bench: Shri Vikas Awasthy & Shri Amarjit Singh, Accountαντ Μεμβer

For Appellant: Dhanesh Bafna a/wFor Respondent: Anil Sant

Page 1 ITA No.739/Mum/2022 Thermax Babcock & Wilcox Energy Solutions Ltd. Vs. DCIT, Circle 2(3)(1) IN THE INCOME TAX

Dy.CIT. CC.5(2) Cent. RG. -5, Mumbai vs. M/S. Usv Pvt. Ltd, Mumbai

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

ITA 2574/MUM/2021[2012-13]Status: DisposedITAT Mumbai01 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.2574/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2356/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit-Cc-5(2) बिधम/ M/S. Usv Pvt. Ltd. Central Range-5, Room Arvind Vithal Gandhi Vs. No.1908, Air India Building, Chowk, Govandi, Nariman Point, Mumbai- Mumbai-400088. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacu1366N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Paras Savla Shri Pratik Poddar Revenue By: Smt Mahita Nair (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 09/02/2024 घोषणा की तारीख /Date Of Pronouncement: 01/04/2024 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), [Hereinafter “Ld. Cit(A)], Mumbai Dated 31.08.2020 & Order Dated 10.03.2021 For The Assessment Year 2012-13 & Ay. 2013-14 Respectively. Since Issues In Both The Years Were The Same, Both These Appeals Were Heard Together. Both The Parties Also Agreed That There Is No Change Of Facts Or Position In Law Across Both These Years & Therefore Argued Them Together Raising Similar Arguments On These Issues. We Accordingly Dispose Both The Appeals By This Common Order.

For Appellant: Shri Paras SavlaFor Respondent: Smt Mahita Nair (Sr. DR)
Section 115JSection 92C

broadened by the assessee as well as revenue by including comparables. However, this can be done only if (a) the functions performed by the tested party and the selected comparable entity are similar including the assets used and the risks assumed; and (b) the difference in services/products offered ... broadened by the assessee as well as revenue by including comparables. However, this can be done only if (a) the functions performed by the tested party and the selected comparable entity are similar including the assets used and the risks assumed; and (b) the difference in services/products offered

Dy.CIT C C 5(2) Central RG-5, Mumbai vs. M/S. Usv Private Ltd, Mumbai

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

ITA 2356/MUM/2021[2013-14]Status: DisposedITAT Mumbai01 Apr 2024AY 2013-14

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.2574/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T.A. No.2356/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit-Cc-5(2) बिधम/ M/S. Usv Pvt. Ltd. Central Range-5, Room Arvind Vithal Gandhi Vs. No.1908, Air India Building, Chowk, Govandi, Nariman Point, Mumbai- Mumbai-400088. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacu1366N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Paras Savla Shri Pratik Poddar Revenue By: Smt Mahita Nair (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 09/02/2024 घोषणा की तारीख /Date Of Pronouncement: 01/04/2024 आदेश / O R D E R Per Aby T. Varkey, Jm: These Are Appeals Preferred By The Revenue Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), [Hereinafter “Ld. Cit(A)], Mumbai Dated 31.08.2020 & Order Dated 10.03.2021 For The Assessment Year 2012-13 & Ay. 2013-14 Respectively. Since Issues In Both The Years Were The Same, Both These Appeals Were Heard Together. Both The Parties Also Agreed That There Is No Change Of Facts Or Position In Law Across Both These Years & Therefore Argued Them Together Raising Similar Arguments On These Issues. We Accordingly Dispose Both The Appeals By This Common Order.

For Appellant: Shri Paras SavlaFor Respondent: Smt Mahita Nair (Sr. DR)
Section 115JSection 92C

broadened by the assessee as well as revenue by including comparables. However, this can be done only if (a) the functions performed by the tested party and the selected comparable entity are similar including the assets used and the risks assumed; and (b) the difference in services/products offered ... broadened by the assessee as well as revenue by including comparables. However, this can be done only if (a) the functions performed by the tested party and the selected comparable entity are similar including the assets used and the risks assumed; and (b) the difference in services/products offered

Torrecid India Private Limited, Mumbai vs. Dy Commissioner of Income Tax-11(3)(1), Mumbai

In the result, ground no.4 of the appeal of the assessee is allowed and ground nos

ITA 1575/MUM/2022[2012-13]Status: DisposedITAT Mumbai20 Mar 2024AY 2012-13

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am The Dy. Commissioner Of Torrecid India Private Limited Income Tax- 11(3)(1) Flat No.29, 30,31, Gidc Savli, Aaykar Bhavan, Alindra, Vadodra-Gujarat Vs. Gandhinagar, Gujarat-391775 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aadct4321M Assessee By : Shri Jitendra Singh, Ar Revenue By : Shri Vivek Anand Perampurana, Dr Date Of Hearing: 19.02.2024 Date Of Pronouncement : 20.03.2024

For Appellant: Shri Jitendra Singh, ARFor Respondent: Shri Vivek Anand Perampurana
Section 143(2)Section 143(3)Section 144(3)Section 250

support of CUP method by placing reliance on the observations made by the Ld. TΡΟ. 3. Rejection of Foreign Associated Enterprise as the Tested party  On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in upholding/confirming the action ... unjust/erroneous rejection of Foreign AEs as the tested party for the international transaction.. of import of raw materials and finished goods. 4. Erred in rejecting Nilchem Industries Ltd. and accepting Golden Chemicals Pvt Ltd. as comparable companies to the appellant  On a without prejudice basis, based on the facts

M/S. Spectris Technologies (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 1818/DEL/2013[2007-08]Status: DisposedITAT Delhi07 Mar 2024AY 2007-08

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Shri Manish Kumar Dabas, Sr. DR

against confirmed order', 'Payment for Automation charges' and ' Payment for training charges’., assessee has used TNMM and PLI of OP/OC. The results of the tested party were calculated at 35.06% as against results of comparables using three years data at 22.48%. For the international transaction relating to 'Purchase for normal ... sales', assessee has used Resale Price Method (RP ) with PLI of gross margin/selling price. The tested party margin of the assessee has been calculated at 22.18% as against 8.02% of the comparables. 7. Before us, the ld. counsel for the assessee vehemently stated that the TPO/CIT(A)/Assessing Officer

Medtronic Engineering and Innovation Center Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle -5(1), Hyderabad

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

ITA 225/HYD/2021[2016-17]Status: DisposedITAT Hyderabad06 Mar 2024AY 2016-17

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

For Appellant: Shri Aliasgar Rampurwala and Shri Pratik, ARsFor Respondent: Ms. TH. Vijaya Lakshmi, CIT-DR
Section 143(3)

types of inventory). 16. Making a working capital adjustment is an attempt to adjust for the differences in time value of money between the tested party and potential comparables, with an assumption that the difference should be reflected in profits. The underlying reasoning is that: ■ A company will need funding ... factors have to be kept in mind (i) The point in time at which the Receivables, Inventory and Payables should be compared between the tested party and the comparables, whether it should be the figures of receivables, inventory and payable at the year end or beginning of the year

DCIT (Ltu) 2, Mumbai vs. Asian Paints Ltd, Mumbai

Appeal is allowed

ITA 841/MUM/2018[2013-14]Status: DisposedITAT Mumbai05 Mar 2024AY 2013-14

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhailasian Paints Ltd. Asian Paints House 6A, Shanti Nagar, Santacruz (East) Mumbai 400 055 Pan – Aaaca3622K Appellant Asstt. Commissioner Of Income Tax Large Taxpayer Unit-2, Mumbai V/S

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Vachashpati Tripathi
Section 10(34)Section 142(1)Section 143(2)Section 143(3)Section 144C(3)Section 14ASection 250

IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL

Asian Paints Ltd, Mumbai vs. Asst CIT (Ltu) 2, Mumbai

Appeal is allowed

ITA 268/MUM/2018[2013-14]Status: DisposedITAT Mumbai05 Mar 2024AY 2013-14

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhailasian Paints Ltd. Asian Paints House

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Vachashpati Tripathi
Section 10(34)Section 142(1)Section 143(2)Section 143(3)Section 144C(3)Section 14ASection 250

IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL

Bank of Nova Scotia, Mumbai vs. Deputy Commissioner of Income Tax (It)-1(2)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 863/MUM/2022[2013-14]Status: DisposedITAT Mumbai28 Feb 2024AY 2013-14

Bench: Shri Vikas Awasthy & Shri Amarjit Singhआअसं.4981/मुं/2017 (िन.व.2010-11) आअसं.3065/मुं/2018 (िन.व.2011-12) आअसं.820/मुं/2019(िन.व.2012-13) आअसं.863/मुं/2022 (िन.व.2013-14) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Additional Director Of Income Tax (International Taxation)-3,/Dcit (It) 1(2)(1)Mumbai Air India Building, Nariman Point, Mumbai 400 021 ....."ितवादी/Respondent आअसं.4899/मुं/2017 (िन.व. 2010-11) Dy. Commissioner Of Income Tax,(It)-1(2),Mumbai Room No.1811, 18Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ....."ितवादी/Respondent Assessee By : Shri Nishant Thakkar & Ms. Jasmin Amalsadvala, Advocates Revenue By : Shri Anil Sant, Sr. Ar

For Appellant: Shri Nishant Thakkar and Ms. Jasmin Amalsadvala, AdvocatesFor Respondent: Shri Anil Sant, Sr. AR

very very negligible due to reduced time span involved therein. Given these undisputed facts, it would be appropriate to consider assessee as the tested party as it would be the least complex 6 The Bank of Nova Scotia entity and its profitability could be reliably ascertained Admittedly, the transaction which

The Bank of Nova Scotia, Mumbai vs. DCIT (It)-1(2)(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 820/MUM/2019[2012-13]Status: DisposedITAT Mumbai28 Feb 2024AY 2012-13

Bench: Shri Vikas Awasthy & Shri Amarjit Singhआअसं . 4981/मुं/2017 (नि.व.2010-11)

For Appellant: Shri Nishant Thakkar andFor Respondent: Shri Anil Sant, Sr. AR

very very negligible due to reduced time span involved therein. Given these undisputed facts, it would be appropriate to consider assessee as the tested party as it would be the least complex entity and its profitability could be reliably ascertained Admittedly, the transaction which requires to be benchmarked

The Bank of Nova Scotia, Mumbai vs. DCIT (It) -1(2)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 3065/MUM/2018[2011-12]Status: DisposedITAT Mumbai28 Feb 2024AY 2011-12

Bench: Shri Vikas Awasthy & Shri Amarjit Singhआअसं.4981/मुं/2017 (िन.व.2010-11) आअसं.3065/मुं/2018 (िन.व.2011-12) आअसं.820/मुं/2019(िन.व.2012-13) आअसं.863/मुं/2022 (िन.व.2013-14) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Additional Director Of Income Tax (International Taxation)-3,/Dcit (It) 1(2)(1)Mumbai Air India Building, Nariman Point, Mumbai 400 021 ....."ितवादी/Respondent आअसं.4899/मुं/2017 (िन.व. 2010-11) Dy. Commissioner Of Income Tax,(It)-1(2),Mumbai Room No.1811, 18Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ....."ितवादी/Respondent Assessee By : Shri Nishant Thakkar & Ms. Jasmin Amalsadvala, Advocates Revenue By : Shri Anil Sant, Sr. Ar

For Appellant: Shri Nishant Thakkar and Ms. Jasmin Amalsadvala, AdvocatesFor Respondent: Shri Anil Sant, Sr. AR

very very negligible due to reduced time span involved therein. Given these undisputed facts, it would be appropriate to consider assessee as the tested party as it would be the least complex 6 The Bank of Nova Scotia entity and its profitability could be reliably ascertained Admittedly, the transaction which

Bank of Nova Scotia, Mumbai vs. Addl DIT (It) RG 3, Mumbai

In the result, appeal of the assessee is allowed

ITA 4981/MUM/2017[2010-11]Status: DisposedITAT Mumbai28 Feb 2024AY 2010-11

Bench: Shri Vikas Awasthy & Shri Amarjit Singhआअसं.4981/मुं/2017 (िन.व.2010-11) आअसं.3065/मुं/2018 (िन.व.2011-12) आअसं.820/मुं/2019(िन.व.2012-13) आअसं.863/मुं/2022 (िन.व.2013-14) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Additional Director Of Income Tax (International Taxation)-3,/Dcit (It) 1(2)(1)Mumbai Air India Building, Nariman Point, Mumbai 400 021 ....."ितवादी/Respondent आअसं.4899/मुं/2017 (िन.व. 2010-11) Dy. Commissioner Of Income Tax,(It)-1(2),Mumbai Room No.1811, 18Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ....."ितवादी/Respondent Assessee By : Shri Nishant Thakkar & Ms. Jasmin Amalsadvala, Advocates Revenue By : Shri Anil Sant, Sr. Ar

For Appellant: Shri Nishant Thakkar and Ms. Jasmin Amalsadvala, AdvocatesFor Respondent: Shri Anil Sant, Sr. AR

very very negligible due to reduced time span involved therein. Given these undisputed facts, it would be appropriate to consider assessee as the tested party as it would be the least complex 6 The Bank of Nova Scotia entity and its profitability could be reliably ascertained Admittedly, the transaction which

DCIT (It) -1(2)(1), Mumbai vs. The Bank of Nova Scotia, Mumbai

In the result, appeal of the assessee is allowed

ITA 4899/MUM/2017[2010-11]Status: DisposedITAT Mumbai28 Feb 2024AY 2010-11

Bench: Shri Vikas Awasthy & Shri Amarjit Singhआअसं.4981/मुं/2017 (िन.व.2010-11) आअसं.3065/मुं/2018 (िन.व.2011-12) आअसं.820/मुं/2019(िन.व.2012-13) आअसं.863/मुं/2022 (िन.व.2013-14) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Additional Director Of Income Tax (International Taxation)-3,/Dcit (It) 1(2)(1)Mumbai Air India Building, Nariman Point, Mumbai 400 021 ....."ितवादी/Respondent आअसं.4899/मुं/2017 (िन.व. 2010-11) Dy. Commissioner Of Income Tax,(It)-1(2),Mumbai Room No.1811, 18Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ....."ितवादी/Respondent Assessee By : Shri Nishant Thakkar & Ms. Jasmin Amalsadvala, Advocates Revenue By : Shri Anil Sant, Sr. Ar

For Appellant: Shri Nishant Thakkar and Ms. Jasmin Amalsadvala, AdvocatesFor Respondent: Shri Anil Sant, Sr. AR

very very negligible due to reduced time span involved therein. Given these undisputed facts, it would be appropriate to consider assessee as the tested party as it would be the least complex 6 The Bank of Nova Scotia entity and its profitability could be reliably ascertained Admittedly, the transaction which

Jamshedpur Continuous Annealing & Processing Company Pvt. Ltd., Kolkata vs. ITO, National E-Assessment Centre, Delhi

In the result, both the appeals filed by the assessee in ITA No

ITA 295/KOL/2022[2018-19]Status: DisposedITAT Kolkata26 Feb 2024AY 2018-19

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

Section 143(3)Section 144C(5)Section 154Section 270A

under the TNMM. Keeping in view the aforesaid judicial precedents, we approve the use of cash profit margin by the assessee for placing the tested party and the comparable companies on equal footing. The assessee has demonstrated that the cash profit margin of the assessee was 8% (approximately), whereas ... cash . profit margins of the aforesaid nine comparable companies stands at 12,41%. It is noted that the net profit margin of the tested party was (-)6.70%, whereas the cash profit margin of the tested party stood 8% thereby indicating that the loss was caused by a considerable increase

Jamshedpur Continuous Annealing & Processing Company Private Limited, Kolkata vs. National E-Assessment Centre, Delhi

In the result, both the appeals filed by the assessee in ITA No

ITA 595/KOL/2021[2017-18]Status: DisposedITAT Kolkata26 Feb 2024AY 2017-18

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

Section 143(3)Section 144C(5)Section 154Section 270A

under the TNMM. Keeping in view the aforesaid judicial precedents, we approve the use of cash profit margin by the assessee for placing the tested party and the comparable companies on equal footing. The assessee has demonstrated that the cash profit margin of the assessee was 8% (approximately), whereas ... cash . profit margins of the aforesaid nine comparable companies stands at 12,41%. It is noted that the net profit margin of the tested party was (-)6.70%, whereas the cash profit margin of the tested party stood 8% thereby indicating that the loss was caused by a considerable increase