THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

10B of the Income Tax Rules. 4.3 However, the AO/TPO disagreed with the contentions of the assessee by observing that the transaction of advancing the interest-free loans to the associated enterprises is an international transaction which requires to be determined at the arm length price in pursuance to the provisions of section 92C of the Act. The AO accordingly

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

10B of the Income Tax Rules. 4.3 However, the AO/TPO disagreed with the contentions of the assessee by observing that the transaction of advancing the interest-free loans to the associated enterprises is an international transaction which requires to be determined at the arm length price in pursuance to the provisions of section 92C of the Act. The AO accordingly

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

10B of the Income Tax Rules. 4.3 However, the AO/TPO disagreed with the contentions of the assessee by observing that the transaction of advancing the interest-free loans to the associated enterprises is an international transaction which requires to be determined at the arm length price in pursuance to the provisions of section 92C of the Act. The AO accordingly

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

10B of the Income Tax Rules. 4.3 However, the AO/TPO disagreed with the contentions of the assessee by observing that the transaction of advancing the interest-free loans to the associated enterprises is an international transaction which requires to be determined at the arm length price in pursuance to the provisions of section 92C of the Act. The AO accordingly

TYCO VALVES & CONTROLS (INDIA) PVT. LTD.,BARODA vs. THE DY.CIT, CIRCLE- 4,, BARODA

In the result, ITA No.1312/Ahd/2012 is dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia

10B is concerned, the issue is squarely covered in favour of the assessee by the decision of Hon’ble jurisdictional High Court in assessee’s own case in Asstt.Year 2003-04 as well as by ITAT’s order in the Asstt.Year 2004-05 also. It is also pertinent to mention that the Department has mentioned incorrect amount in its ground

PENTAIR VALVES & CONTROLS INDIA PVT. LTD.( FORMERLY KNOWN AS TYCO VALVES & CONTROLS INDIA PVT. LTD.),BARODA vs. THE ACIT, CIRCLE- 4,, BARODA

In the result, ITA No.1312/Ahd/2012 is dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia

10B is concerned, the issue is squarely covered in favour of the assessee by the decision of Hon’ble jurisdictional High Court in assessee’s own case in Asstt.Year 2003-04 as well as by ITAT’s order in the Asstt.Year 2004-05 also. It is also pertinent to mention that the Department has mentioned incorrect amount in its ground

THE ACIT, CIRCLE- 4,, BARODA vs. TYCO VALVES & CONTROLS (INDIA) PVT. LTD., BARODA

In the result, ITA No.1312/Ahd/2012 is dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia

10B is concerned, the issue is squarely covered in favour of the assessee by the decision of Hon’ble jurisdictional High Court in assessee’s own case in Asstt.Year 2003-04 as well as by ITAT’s order in the Asstt.Year 2004-05 also. It is also pertinent to mention that the Department has mentioned incorrect amount in its ground

TYCO VALVES & CONTROLS (INDIA) PVT. LTD.,BARODA vs. THE DY.CIT, BARODA CIR- 4,, BARODA

In the result, Assessee’s appeal is partly allowed for statistical purpose

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

sections namely, Activities carried out in relation to valves, components, etc.; Provision of support services; Receipt of Management charge; Provision of design related services and Reimbursements.” ACIT vs. M/s.Tyco Valves & Controls (I) Pvt.Ltd.vs. DCIT Asst.Year - 2007-08 3.5. The Assessee for benchmarking its transactions classified under the head in relation to valves, component etc in connection with the determination

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE DCIT., CIRCLE-1(1)(1),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No Year(S) Appellant Vs. Respondent (S) Appellant Respondent 1-2 438-439/Ahd/2018 2008-09 Ascent Finechem Pvt. A.C.I.T, Circle- & Ltd., 1(1)(2), 2009-10 11, Ground Floor, Ahmedabad. Suryarath, B/H. Whilte House, Panchawati, Ahmedabad-380015. Pan No.Aabca6349Q

10B of the Act. Thus, in the absence of necessary details, the AO cannot arbitrarily allocate all the expenses of trading unit to the 100% EOU. In our view, the AO should have referred the data of the assessee of the earlier assessment years before allocating the expenses of trading unit to the export oriented unit

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE ACIT., CIRCLE-1, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No Year(S) Appellant Vs. Respondent (S) Appellant Respondent 1-2 438-439/Ahd/2018 2008-09 Ascent Finechem Pvt. A.C.I.T, Circle- & Ltd., 1(1)(2), 2009-10 11, Ground Floor, Ahmedabad. Suryarath, B/H. Whilte House, Panchawati, Ahmedabad-380015. Pan No.Aabca6349Q

10B of the Act. Thus, in the absence of necessary details, the AO cannot arbitrarily allocate all the expenses of trading unit to the 100% EOU. In our view, the AO should have referred the data of the assessee of the earlier assessment years before allocating the expenses of trading unit to the export oriented unit

ASCENT FINECHEM PVT. LTD.,,AHMEDABAD vs. THE ACIT., CIRCLE-1(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No Year(S) Appellant Vs. Respondent (S) Appellant Respondent 1-2 438-439/Ahd/2018 2008-09 Ascent Finechem Pvt. A.C.I.T, Circle- & Ltd., 1(1)(2), 2009-10 11, Ground Floor, Ahmedabad. Suryarath, B/H. Whilte House, Panchawati, Ahmedabad-380015. Pan No.Aabca6349Q

10B of the Act. Thus, in the absence of necessary details, the AO cannot arbitrarily allocate all the expenses of trading unit to the 100% EOU. In our view, the AO should have referred the data of the assessee of the earlier assessment years before allocating the expenses of trading unit to the export oriented unit

THE DY. CIT, CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT MICROWAX LTD.,, AHMEDABAD

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

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

10B to 10E, 'transaction' includes a number of closely related transactions" and that "Thus, the closely linked transactions can, in a given situation, be components of single composite transaction". Their Lordships have then added that "The assessee would, however, have to prove that although each sale and each provision of service is priced separately, they were all provided under

THE DY. CIT, CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT MICROWAX LTD.,, AHMEDABAD

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

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

10B to 10E, 'transaction' includes a number of closely related transactions" and that "Thus, the closely linked transactions can, in a given situation, be components of single composite transaction". Their Lordships have then added that "The assessee would, however, have to prove that although each sale and each provision of service is priced separately, they were all provided under

SUMAN NANDLAL RAVAL,GANDHINAGAR vs. THE ITO, WARD 1, GANDHINAGAR, GANDHINAGAR

In the result, both the appeals of the assessee are allowed

Bench: Dr. B.R.R. Kumar, Vice-Ms Suchitra Kamble

section 10(10B), the assessee now seeks exemption of such compensation. We find that the assessee filed the ITA Nos. 2389 & 2390/Ahd/2025 Suman N Raval Vs. ITO Asst. Year: 2020-21 & 2021-22 - 5– claim before the Ld. CIT(A) and since the income of the assessee is not taxable, the assessee is eligible for the refund of the TDS

SUMAN NANDLAL RAVAL,GANDHINAGAR vs. THE ITO, WARD 1, GANDHINAGAR, GANDHINAGAR

In the result, both the appeals of the assessee are allowed

Bench: Dr. B.R.R. Kumar, Vice-Ms Suchitra Kamble

section 10(10B), the assessee now seeks exemption of such compensation. We find that the assessee filed the ITA Nos. 2389 & 2390/Ahd/2025 Suman N Raval Vs. ITO Asst. Year: 2020-21 & 2021-22 - 5– claim before the Ld. CIT(A) and since the income of the assessee is not taxable, the assessee is eligible for the refund of the TDS

INEOS STYROLUTION INDIA LTD.,VADODARA vs. THE ADDIT.CIT , DELHI

In the result, appeal of the assessee is allowed

8. That the learned AO/ TPO / DRP has erred in law and on facts in summarily rejecting the voluminous evidence submitted by the Appellant to justify provision of services and the benefit derived by the Appellant, without disputing / rebutting or without providing an explicit findings / observation on the voluminous / plethora of evidence filed by the Appellant. Further, the learned

M/S. RANBAXY LABORATORIES LIMITED,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

10B redundant. This is patently an unacceptable position having no sanction of the Indian transfer pricing law. Borrowing a contrary mandate of the TP provisions of other countries and reading it into our provisions is not permissible. The requirement under our law is to compute the income from an international transaction between two AEs having regard

RANBAXY LABORATORIES LTD.,DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

10B redundant. This is patently an unacceptable position having no sanction of the Indian transfer pricing law. Borrowing a contrary mandate of the TP provisions of other countries and reading it into our provisions is not permissible. The requirement under our law is to compute the income from an international transaction between two AEs having regard