INDUCTOTHERM (INDIA) PRIVATE LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-4,, AHMEDABAD

In the result, the assessee’s appeal for the assessment year 2011-12 is also partly allowed in the terms indicated above

capital gains) after 1st Oct., 2004. We, therefore, set aside the orders of the Revenue authorities and allow the claim of the assessee. 22. Respectfully following the views so taken by the coordinate bench, we uphold the plea of the assessee. The action of the Assessing Officer on this point is reversed, and the set off of loss carried forward

INDUCTOTHERM (INDIA) PRIVATE LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-2(1)(1),, AHMEDABAD

In the result, the assessee’s appeal for the assessment year 2011-12 is also partly allowed in the terms indicated above

capital gains) after 1st Oct., 2004. We, therefore, set aside the orders of the Revenue authorities and allow the claim of the assessee. 22. Respectfully following the views so taken by the coordinate bench, we uphold the plea of the assessee. The action of the Assessing Officer on this point is reversed, and the set off of loss carried forward

INDUCTOTHERM (INDIA) PRIVATE LTD.,AHMEDABAD vs. THE JT.CIT.,RANGE-4,, AHMEDABAD

In the result, the assessee’s appeal for the assessment year 2011-12 is also partly allowed in the terms indicated above

capital gains) after 1st Oct., 2004. We, therefore, set aside the orders of the Revenue authorities and allow the claim of the assessee. 22. Respectfully following the views so taken by the coordinate bench, we uphold the plea of the assessee. The action of the Assessing Officer on this point is reversed, and the set off of loss carried forward

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-8,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

92C of the Act. As such, the study conducted by the assessee was rejected by the ld. TPO. Thereafter, the ld. TPO issued a show cause notice as to why service provided by the assessee to its AEs should not be benchmarked and as to why a suitable commission of 3% should not be taken as arm’s length price

THE DCIT(INTL. TAXN),,, AHMEDABAD vs. M/S. SHANDONG TIEJUN ELECTRIC POWER ENGG. COMPANY LTD., KUTCH

In the result, all three appeals of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri T. S. Kapoor

gains cannot be arrived at by the method employed by the assessee. In the present case, the tribunal has categorically found that "the assessee has followed the standard accounting method as this being the first year of the business it was the sole choice of the assessee to adopt a particular method of accounting contemplated under section

THE DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

capital financing, including any type of long-term or short-term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising during the course of business; 8.1 It can be seen that the guarantee was included within the ambit of international transaction

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

capital financing, including any type of long-term or short-term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising during the course of business; 8.1 It can be seen that the guarantee was included within the ambit of international transaction

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

capital financing, including any type of long-term or short-term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising during the course of business; 8.1 It can be seen that the guarantee was included within the ambit of international transaction

THE DCIT CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

capital financing, including any type of long-term or short-term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising during the course of business; 8.1 It can be seen that the guarantee was included within the ambit of international transaction

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

gain or loss of the transactions needs to be considered. But the assessee's case does not fall- in the ambit of any of the above examples given above. Thus, the Panel is of the view that the aggregation approach would not be the right approach for the TP study as adopted by the assessee. The action taken

SUN PHARMACEUTICALS INDUSTRIES LTD. ( ERSTWHILE RANBAXY LABORATORIES LIMITED),BARODA vs. THE ACIT,CENT.CIRCLE-1, BARODA

capital gains of Rs, 14,27,71,965/- and income from other sources of Rs. 1,53,43,279/- without appreciating that the while considering the net business loss 3,02,66,75,122/-, the aforesaid incomes were already offered for tax and thereafter further adding the above incomes in computing the taxable income . 13. Re: Short grant

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92C(2)of the Act no transfer pricing adjustment is required to be made. Without prejudice to above, the appellant submits that in any case the instances are not comparable at all due to quantity and geographical factors 6 Sodium 78,713/- No comments for the smallness of Picosumlphat amount. 7 Tetrabutyl 31,81,642/- (a) FAR Analysis : As Above

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92C(2)of the Act no transfer pricing adjustment is required to be made. Without prejudice to above, the appellant submits that in any case the instances are not comparable at all due to quantity and geographical factors 6 Sodium 78,713/- No comments for the smallness of Picosumlphat amount. 7 Tetrabutyl 31,81,642/- (a) FAR Analysis : As Above

DISHMAN PHARMACEUTICALS & CHEMICALS LIMITED,,AHMEDABAD vs. THE ACIT, (OSD),RANGE-1,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92C(2)of the Act no transfer pricing adjustment is required to be made. Without prejudice to above, the appellant submits that in any case the instances are not comparable at all due to quantity and geographical factors 6 Sodium 78,713/- No comments for the smallness of Picosumlphat amount. 7 Tetrabutyl 31,81,642/- (a) FAR Analysis : As Above

THE ACIT,(OSD)RANGE-1,, AHMEDABAD vs. M/S. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92C(2)of the Act no transfer pricing adjustment is required to be made. Without prejudice to above, the appellant submits that in any case the instances are not comparable at all due to quantity and geographical factors 6 Sodium 78,713/- No comments for the smallness of Picosumlphat amount. 7 Tetrabutyl 31,81,642/- (a) FAR Analysis : As Above

DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)RANGE-1,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92C(2)of the Act no transfer pricing adjustment is required to be made. Without prejudice to above, the appellant submits that in any case the instances are not comparable at all due to quantity and geographical factors 6 Sodium 78,713/- No comments for the smallness of Picosumlphat amount. 7 Tetrabutyl 31,81,642/- (a) FAR Analysis : As Above

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

section 92C of the Act. The AO accordingly has worked out the amount of interest with respect to the AE’s based in USA at LIBOR plus 412 bps and with respect to the AE based in Europe EURIBOR plus 281 bps and made the upward adjustment aggregating to " 1,78,63,433/- to the total income of the assessee

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 92C of the Act. The AO accordingly has worked out the amount of interest with respect to the AE’s based in USA at LIBOR plus 412 bps and with respect to the AE based in Europe EURIBOR plus 281 bps and made the upward adjustment aggregating to " 1,78,63,433/- to the total income of the assessee