THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS LTD., AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

4. We shall first take up the appeal filed by the assessee for adjudication. The assessee has raised various grounds of appeal challenging the order passed by the CIT(A). The principal issues raised in the assessee’s appeal pertain to transfer pricing adjustments on interest on advances to associated enterprises, transfer pricing adjustment on notional interest on outstanding receivables

INTAS PHARMACEUTICALS LTD.,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

4. We shall first take up the appeal filed by the assessee for adjudication. The assessee has raised various grounds of appeal challenging the order passed by the CIT(A). The principal issues raised in the assessee’s appeal pertain to transfer pricing adjustments on interest on advances to associated enterprises, transfer pricing adjustment on notional interest on outstanding receivables

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

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

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

134 - ITA 796/Ahd/2018 2014-15 8,32,03,602 - ITA 797/Ahd/2018 2015-16 8,92,09,090 - ITA 1528/Ahd/2018 12.2. Under the grounds relating to deduction u/s 80IA of the Act, the Revenue has consistently argued that the assessee does not qualify for the deduction under Section 80IA of the Act as their activities fall under works contracts rather than

MILACRON INDIA PRIVATE LIMITED,AHMEDABAD vs. THE DY. CIT, CIRCLE-2(1)(1), AHMEDABAD

The appeal of the assessee is allowed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2021-22 Milacron India Pvt.Ltd. The Dcit, Cir.2(1)(1) Plot No.93/2 & 91/4 Vs Ahmedabad. Phase-1,Gidc Vatva, Ahmedabad. Pan : Aabcc 0881 D

section 144C(5) of the Act. We have also duly considered the elaborate submissions advanced by the learned AR for the assessee and the arguments of the learned DR, including reliance placed on the transfer pricing order as annexed to the final assessment. 23. The principal issue before us is the validity of the transfer pricing adjustment of Rs.23

THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. CADILA PHARMACEUTICALS LTD. , AHMEDABAD

In the result, Revenue’s appeal is allowed in part

Bench: Shri TR Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

4. Benefit attributable to guarantee being 50% (D=50% of C) 2.48% 5. Benefit attributable to the AE being 50% (E=50% of D) 1.24% Accordingly, guarantee fee of Rs.61,27,088/- was worked out by applying rate of 1.24% and upward adjustment was made on account of Arm’s Length Price (ALP) of this international transaction

CADILA PHARMACEUTICALS LTD. ,AHMEDABAD vs. THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD

In the result, Revenue’s appeal is allowed in part

Bench: Shri TR Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

4. Benefit attributable to guarantee being 50% (D=50% of C) 2.48% 5. Benefit attributable to the AE being 50% (E=50% of D) 1.24% Accordingly, guarantee fee of Rs.61,27,088/- was worked out by applying rate of 1.24% and upward adjustment was made on account of Arm’s Length Price (ALP) of this international transaction