THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

b) there must be a dissolution of a firm, association of persons or body of individuals, etc., or otherwise. 15. The Bombay High Court in Texspin Engineering and Manufacturing Works [2003] 263 ITR 345, under similar circumstances interpreting section 45(4) of the Act recorded thus (page 351): “Under section 45(4), profits arising from the transfer of a capital

VIJAY M.MISTRY CONSTRUCTION PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-8,, AHMEDABAD

In the result, assessee’s appeals are allowed and Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 2938/Ahd/2011, 2939/Ahd/2011, 2286/Ahd/2012, 268/Ahd/2015, 269/Ahd/2015, 502/Ahd/2017, 1145/Ahd/2019 & 1468/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 & 2016-17) Address In A.Ys. 2007-08, बनाम/ 2008-09 & 2009-10 Vs. Vijay M. Mistry Cons. P. Asst. Commissioner Of Ltd. Income Tax Circle–8, B-209, 2Nd Floor, 501, Swagat, C. G. Road, Panjara Pole, Pratyakshkar Ellisbridge, Ahmedabad – & Bhavan, Ambawadi, 380006 (Gujarat) Ahmedabad Address In A.Ys. 2010-11 Joint Commissioner Of Income Tax Vijay M. Mistry Cons. P. Range-8, B-209, 2Nd Floor, Ltd. Panjara Pole, Pratyakshkar “Mistry House”, 9, Preyas Bhavan, Ambawadi, Society, Opp. Gulbai Ahmedabad Tekra Police Choki & Ambawadi, Ahmedabad – 380015 Address In A.Ys. 2011-12 Vijay M. Mistry Cons. P. Dy. Commissioner Of Ltd. Income Tax (Osd) & Circle–8, B-209, 2Nd Floor, “Mistry House”, 9, Preyas Panjara Pole, Pratyakshkar Society, Opp. Gulbai Bhavan, Ambawadi, Tekra Police Choki, Ahmedabad Ambawadi, Ahmedabad –

b) of clause (i) of section 80IA(4) and the transferee Enterprise were allowed to claim the deduction for unexpired period during which the transferor Enterprise would have been entitled to claim the deduction. Therefore, the infrastructure facility has to be developed on BOT, BOOT or BOLT or similar arrangement where the investee Enterprise bears the financial and investment risks

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(2),, AHMEDABAD vs. VIJAY M. MISTRY CONSTRUCTION PVT. LTD.,, AHMEDABAD

In the result, assessee’s appeals are allowed and Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 2938/Ahd/2011, 2939/Ahd/2011, 2286/Ahd/2012, 268/Ahd/2015, 269/Ahd/2015, 502/Ahd/2017, 1145/Ahd/2019 & 1468/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 & 2016-17) Address In A.Ys. 2007-08, बनाम/ 2008-09 & 2009-10 Vs. Vijay M. Mistry Cons. P. Asst. Commissioner Of Ltd. Income Tax Circle–8, B-209, 2Nd Floor, 501, Swagat, C. G. Road, Panjara Pole, Pratyakshkar Ellisbridge, Ahmedabad – & Bhavan, Ambawadi, 380006 (Gujarat) Ahmedabad Address In A.Ys. 2010-11 Joint Commissioner Of Income Tax Vijay M. Mistry Cons. P. Range-8, B-209, 2Nd Floor, Ltd. Panjara Pole, Pratyakshkar “Mistry House”, 9, Preyas Bhavan, Ambawadi, Society, Opp. Gulbai Ahmedabad Tekra Police Choki & Ambawadi, Ahmedabad – 380015 Address In A.Ys. 2011-12 Vijay M. Mistry Cons. P. Dy. Commissioner Of Ltd. Income Tax (Osd) & Circle–8, B-209, 2Nd Floor, “Mistry House”, 9, Preyas Panjara Pole, Pratyakshkar Society, Opp. Gulbai Bhavan, Ambawadi, Tekra Police Choki, Ahmedabad Ambawadi, Ahmedabad –

b) of clause (i) of section 80IA(4) and the transferee Enterprise were allowed to claim the deduction for unexpired period during which the transferor Enterprise would have been entitled to claim the deduction. Therefore, the infrastructure facility has to be developed on BOT, BOOT or BOLT or similar arrangement where the investee Enterprise bears the financial and investment risks

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

b) Now we turn to various provisions of Income-tax Act, 1961 and Income-tax Rules, 1962: Section 92(1): “92(1). Any income arising from an international transaction shall be computed having regard to the arm’s length price.” Analysis: This is the master provision of Indian transfer pricing law. The words “an international transaction” clearly demonstrate that each

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

b) Now we turn to various provisions of Income-tax Act, 1961 and Income-tax Rules, 1962: Section 92(1): “92(1). Any income arising from an international transaction shall be computed having regard to the arm’s length price.” Analysis: This is the master provision of Indian transfer pricing law. The words “an international transaction” clearly demonstrate that each

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

transferred to its AE indirectly which amount to transfer of unique intangibles. Therefore, the profit split method will be appropriate method to determine ALP because assessee was not just manufacturer of the product. The AO/TPO further found that learned CIT(A) for AY 2008-09 while upholding the Profit Split Method taken the profit sharing ratio at 80:20 between

DCIT, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LTD. , BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

transferred to its AE indirectly which amount to transfer of unique intangibles. Therefore, the profit split method will be appropriate method to determine ALP because assessee was not just manufacturer of the product. The AO/TPO further found that learned CIT(A) for AY 2008-09 while upholding the Profit Split Method taken the profit sharing ratio at 80:20 between

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

transferred to its AE indirectly which amount to transfer of unique intangibles. Therefore, the profit split method will be appropriate method to determine ALP because assessee was not just manufacturer of the product. The AO/TPO further found that learned CIT(A) for AY 2008-09 while upholding the Profit Split Method taken the profit sharing ratio at 80:20 between

DCIT, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LTD. , BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

transferred to its AE indirectly which amount to transfer of unique intangibles. Therefore, the profit split method will be appropriate method to determine ALP because assessee was not just manufacturer of the product. The AO/TPO further found that learned CIT(A) for AY 2008-09 while upholding the Profit Split Method taken the profit sharing ratio at 80:20 between

SUN PHARMACEUTICALS INDUSTRIES LTD.,,BARODA vs. THE ACIT, CENTRAL CIRCLE-1, BARODA

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1659/Ahd/2015 2. आयकर अपील सं./Ita No.1689/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2008-09 ) बनाम/ 1. Sun Pharmaceuticals 1. The Acit Industries Ltd. Cen.Cir-1 Vs. “Sparc” Tandalja Baroda – 20 2. The Acit 2. Sun Pharmaceu- Central Circle-1 Ticals Industries Baroda Ltd. Baroda. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs 3124K (अपीलाथ"/Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Appellant By : Shri S.N. Soparkar, Ar ""यथ" क" ओर से/Respondent By: Shri R.C. Panday, Cit-Dr सुनवाई क" तार"ख/ Date Of Hearing 28/03/2019 घोषणा क" तार"ख /Date Of Pronouncement 20/06/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Cross-Appeals Have Been Filed At The Instance Of The Assessee & Revenue Against The Order Of The Commissioner Of Income Tax (Appeals)–2, Vadodara [Cit(A) In Short] Vide Appeal No.Cab/(A)- 2/387/2014-15 Dated 31/03/2015 Arising In The Assessment Order Passed Under S.143(3) R.W.S.147 Of The Income Tax Act, 1961(Hereinafter Referred To As "The Act") Dated 14/02/2014 Relevant To Assessment Year (Ay) 2008-09. Ita Nos.1659/Ahd/2015 (By Assessee) & Ita No.1689/Ahd/2015 (By Revenue) Sun Pharmaceuticals Industries Ltd. Vs. Acit Asst.Year - 2008-09 2

4, when issued shall be duly authorized and validly issued, fully paid and non-assessable and not subject to any preemptive or similar rights.” 18.7. We further note that at the relevant time when the agreement was made between SUN BVI and CARACO the share price of CARACO was low than the price when the technology was actually delivered

THE DCIT,(OSD)-1, CIRCLE-4,, AHMEDABAD vs. MIDVALLEY HEALTHCARE SERVICES PVT.LTD.,, AHMEDABAD

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

4 the Act has shown more than the ordinary profit by carrying out transaction with the closely connected companies in comparison to the other parties by means of some arrangement. Accordingly the AO proposed to restrict the exemption to the tune of 15% under section 10B of the Act in pursuance to the provisions of section

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification

THE DY. CIT, CIRCLE-1(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification

THE ACIT,(OSD)-I,RANGE-4,, AHMEDABAD vs. JMC PROJECTS (INDIA) LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

Transfer (BOT) project and it was purely execution of contract against the running bills raised by the assessee. The DR further stated that the assessee company is not planning the project but is carrying out part of activities and raising the detailed RA bills to the developer and getting the payment for the same on supervision and certification