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

forward contracts entered into for protection against currency fluctuation, by holding the same to be 'contingent in nature'. 11.1 Without prejudice, that in case mark to market loss is held to be non- deductible for the year under assessment, the reversal of loss / gain on mark to market, if any, in subsequent year(s) be not held as taxable

ZYDUS LIFESCIENCES LIMITED (FORMERLY KNOWN AS CADILA HEALTHCARE LTD.),AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, appeal preferred by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 162/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2016-17)

forward losses of Rs. 2,41,44,65,028/- Rs. Nil for A.Y. 2013-14 Adjusted fully by the Dept. while passing order for A.Y. 2015-16 Gross Total Income Rs. 18,07,02,90,489/- Chapter VI-A Rs. 2,39,90,500/- ITA No. 162/Ahd/2021 (Zydus Lifesciences Ltd. vs. DCIT) A.Y.– 2016-17 - 9 – Total Income

MEGHMANI ORGANICS LTD.,,AHMEDABAD vs. THE DCIT.,CENT.CIRCLE-1(1),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

forward, to avoid such issues being litigated and to ensure satisfactorily resolution of these disputes, must include a clear and unambiguous legislative guidance on the transfer pricing implications of the corporate guarantees as also on the methodology of determining its ALP, if necessary. Of course, no matter how good is the legislative framework, the importance of a very comprehensive analysis

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

carry forward on loss of Rs. 3,02,66,75,211/-. The profit u/s. 115JB of the Act was declared at Rs. 7,18,44,50,980/-. The case was selected for scrutiny through CASS and notice u/s. 143(2) of the Act was issued on 6th August, 2012. The assessee was having international transaction with associated enterprise

THE JT. CIT, RANGE-4, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing guidelines" for Multi-National Enterprises and Tax Administrations. These guidelines give an introduction to the arm's length price principle and explains article 9 of the OECD Model ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 35 Tax Convention. This article provides that when conditions are made or imposed between two associated

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing guidelines" for Multi-National Enterprises and Tax Administrations. These guidelines give an introduction to the arm's length price principle and explains article 9 of the OECD Model ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 35 Tax Convention. This article provides that when conditions are made or imposed between two associated

MASTEK LIMITED,AHMEDABAD vs. THE JT.CIT, RANG4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing guidelines" for Multi-National Enterprises and Tax Administrations. These guidelines give an introduction to the arm's length price principle and explains article 9 of the OECD Model ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 35 Tax Convention. This article provides that when conditions are made or imposed between two associated

MASTEK LIMITED,,AHMEDABAD vs. THE DY.CIT, (OSD) - 1, CIRCLE-4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing guidelines" for Multi-National Enterprises and Tax Administrations. These guidelines give an introduction to the arm's length price principle and explains article 9 of the OECD Model ITA Nos. 1188, 1852/Ahd/2015 & IT(TP) Nos. 172 & 514/Ahd/16 A.Y.s 2009-10 & 2010-11 35 Tax Convention. This article provides that when conditions are made or imposed between two associated

M/S. BODAL CHEMICALS LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-1, AHMEDABAD

In the result, the appeals being IT(SS)A No

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

transfer other than from P&L, without prejudice to above the Ld. AR further submitted that it is not necessary that the General Reserves are always created out of accumulated profits. General Reserves can be created in many ways including following transactions; general reserves can arise out of revaluation of certain assets due to amalgamation. The Ld. AR relied upon

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

loss carried forward as thrust by the Assessing Officer, is vacated. 23. Ground no. 5 is thus allowed. 24. In ground no. 6, the assessee has raised the following grievance: 6. (a) On the facts and circumstances of the case and in law, the Hon’ble DRP and the AO erred in making an adjustment of Rs.2

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

loss carried forward as thrust by the Assessing Officer, is vacated. 23. Ground no. 5 is thus allowed. 24. In ground no. 6, the assessee has raised the following grievance: 6. (a) On the facts and circumstances of the case and in law, the Hon’ble DRP and the AO erred in making an adjustment of Rs.2

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

loss carried forward as thrust by the Assessing Officer, is vacated. 23. Ground no. 5 is thus allowed. 24. In ground no. 6, the assessee has raised the following grievance: 6. (a) On the facts and circumstances of the case and in law, the Hon’ble DRP and the AO erred in making an adjustment of Rs.2

ATUL LIMITED,AHMEDABAD vs. THE ACIT.,RANGE-1,, AHMEDABAD

Appeal is dismissed

price of electricity of Gujarat Electricity Board at Rs. 5.766 per unit. The A.O. noted that as per this rate, the assessee had earned profits @ 37.75% of the entire credit for internal consumption which according to him was too high, therefore he reduced the rate of credit for electricity to 4.266 and accordingly reduced the profits earned on captive power

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

forward TNMM to corroborate the arm’s length nature of transactions. Further, the Ld. CIT(A) has also held that “in no case, the upward transfer pricing adjustment made by the AO / TPO is justified and hence the same is deleted.” The words “in no case” conveys that the upward adjustment is not justified both in CUP method and TNMM

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

forward TNMM to corroborate the arm’s length nature of transactions. Further, the Ld. CIT(A) has also held that “in no case, the upward transfer pricing adjustment made by the AO / TPO is justified and hence the same is deleted.” The words “in no case” conveys that the upward adjustment is not justified both in CUP method and TNMM

RAINBOW PAPERS LIMITED.,,AHMEDABAD vs. DY.COMMISSIONER OF INCOME TAX,CIRCLE-3(1)(2),, AHMEDABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

price for working out the Profit u/s. 80IA as adopted and worked out by the appellant be accepted and not Rs.2.99 per Unit as incorrectly worked out by the learned C.I.T. (Appeals). 2. The learned C.I.T. (Appeals) has erred in holding that while working out the profit u/s. 80IA for eligible Unit the earlier years' carried forward loss must

M/S. TBEA SHENYANG TRASFORMER GROPUP COMPANY LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, INT. TAX.,, VADODARA

In the result, the appeal filed by the assessee is dismissed

Bench: Smt. Annapurna Gupta & Ms. Suchitra Kambleआयकर अपील सं./I.T.A. No. 581/Ahd/2017 (िनधा"रण वष" / Assessment Year : 2012-13) बनाम/ M/S. Tbea Shenyang Deputy Commissioner Of Transformer Group Income Tax Vs. Company Limited International Taxation, National Highway No.-8, Vadodara Villae : Miyagam, Karja, Vadodara, Gujarat - 390007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadct4557F (Appellant) .. (Respondent) अपीलाथ" ओर से /Appellant By : Shri Arpit Jain, Ar ""यथ" क" ओर से/Respondent By : Shri Mahesh Shah, Cit. Dr 24/04/2025 Date Of Hearing Date Of Pronouncement 22/07/2025 O R D E R Per Smt. Annapurna Gupta, Am:

losses/ without being adequately compensated for it. The argument of the Ld.Counsel for the assessee in this regard is, therefore, rejected. 43. The decision of the coordinate Bench in the case of Shandong (supra) is of no assistance to the assessee since in the facts of the said case there was no finding of the assessee not being adequately compensated

M/S. SCHUTZ DISHMAN BIOTECH PVT.LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-8,, AHMEDABAD

In the result, the Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1909/Ahd/2015 2. आयकर अपील सं./Ita No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The Dcit 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The Dcit Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee By : Shri Tushar Hemani & Shri Parimal Parmar, Ar Revenue By : Shri Vinod Jalwani, Sr.Dr

carry forward such losses/unabsorbed depreciation to the succeeding assessment years as per the provisions of law. Hence, the ground of appeal of the assessee is allowed for statistical purposes. 14. The next issues raised by the assessee in ground Nos.3, 4, 5 & 6 are that the Ld. CIT(A) erred in upholding the order of the Assessing Officer by sustaining

THE DCIT, CIRCLE-8,, AHMEDABAD vs. SCHUTZ DISHMAN BIOTECH LTD.,, AHMEDABAD

In the result, the Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1909/Ahd/2015 2. आयकर अपील सं./Ita No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The Dcit 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The Dcit Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee By : Shri Tushar Hemani & Shri Parimal Parmar, Ar Revenue By : Shri Vinod Jalwani, Sr.Dr

carry forward such losses/unabsorbed depreciation to the succeeding assessment years as per the provisions of law. Hence, the ground of appeal of the assessee is allowed for statistical purposes. 14. The next issues raised by the assessee in ground Nos.3, 4, 5 & 6 are that the Ld. CIT(A) erred in upholding the order of the Assessing Officer by sustaining