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

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

152 (Ahmedabad Tribunal) wherein the Tribunal made the following observations on the quasi capital nature of advances: ITA Nos. 1334 to 1336/Ahd/2017 & ITA Nos. 1644 to 1646/Ahd/2017 Intas Pharmaceuticals Ltd. vs. ACIT Asst. Years –2009-10 to 2011-12 " Usually loan transactions are benchmarked on the basis of interest rate applicable on said transactions simplictor which, under the transfer pricing

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

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

152 (Ahmedabad Tribunal) wherein the Tribunal made the following observations on the quasi capital nature of advances: ITA Nos. 1334 to 1336/Ahd/2017 & ITA Nos. 1644 to 1646/Ahd/2017 Intas Pharmaceuticals Ltd. vs. ACIT Asst. Years –2009-10 to 2011-12 " Usually loan transactions are benchmarked on the basis of interest rate applicable on said transactions simplictor which, under the transfer pricing

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD vs. INTAS PHARMACEUTICALS PVT. LTD.,, AHMEDABAD

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

152 (Ahmedabad Tribunal) wherein the Tribunal made the following observations on the quasi capital nature of advances: ITA Nos. 1334 to 1336/Ahd/2017 & ITA Nos. 1644 to 1646/Ahd/2017 Intas Pharmaceuticals Ltd. vs. ACIT Asst. Years –2009-10 to 2011-12 " Usually loan transactions are benchmarked on the basis of interest rate applicable on said transactions simplictor which, under the transfer pricing

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

Accordingly the claim of expenditure is allowed as revenue

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

152 (Ahmedabad Tribunal) wherein the Tribunal made the following observations on the quasi capital nature of advances: ITA Nos. 1334 to 1336/Ahd/2017 & ITA Nos. 1644 to 1646/Ahd/2017 Intas Pharmaceuticals Ltd. vs. ACIT Asst. Years –2009-10 to 2011-12 " Usually loan transactions are benchmarked on the basis of interest rate applicable on said transactions simplictor which, under the transfer pricing

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

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 CENTRAL CIRCLE 1(1), AHMEDABAD, GUJARAT vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing proceedings. In the present case, the TPO has not initiated any such penalty but the Assessing Officer has initiated the penalty as well as levied the penalty without bringing on record I.T.A Nos. 317 to 324/Ahd/2024 A.Ys. 2012-13 to 2019-20 Page No 6 Priya Blue Industries Pvt. Ltd. vs. DCIT material information which can justify such

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing proceedings. In the present case, the TPO has not initiated any such penalty but the Assessing Officer has initiated the penalty as well as levied the penalty without bringing on record I.T.A Nos. 317 to 324/Ahd/2024 A.Ys. 2012-13 to 2019-20 Page No 6 Priya Blue Industries Pvt. Ltd. vs. DCIT material information which can justify such

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, GUJARAT vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing proceedings. In the present case, the TPO has not initiated any such penalty but the Assessing Officer has initiated the penalty as well as levied the penalty without bringing on record I.T.A Nos. 317 to 324/Ahd/2024 A.Ys. 2012-13 to 2019-20 Page No 6 Priya Blue Industries Pvt. Ltd. vs. DCIT material information which can justify such

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE 1(1), AHMEDABAD, AHMEDABAD vs. PRIYA BLUE INDUSTRIES PVT. LTD, GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing proceedings. In the present case, the TPO has not initiated any such penalty but the Assessing Officer has initiated the penalty as well as levied the penalty without bringing on record I.T.A Nos. 317 to 324/Ahd/2024 A.Ys. 2012-13 to 2019-20 Page No 6 Priya Blue Industries Pvt. Ltd. vs. DCIT material information which can justify such

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1), GUJARAT vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing proceedings. In the present case, the TPO has not initiated any such penalty but the Assessing Officer has initiated the penalty as well as levied the penalty without bringing on record I.T.A Nos. 317 to 324/Ahd/2024 A.Ys. 2012-13 to 2019-20 Page No 6 Priya Blue Industries Pvt. Ltd. vs. DCIT material information which can justify such

SCHNEIDER ELECTRIC INFRASTRUCTURE LTD,VADODARA vs. THE ADD./JT. DCIT/ITO NATONAL E-ASSESSMENT CENTRE, DELHI

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalassessment Year : 2017-18 Schneider Electric Infrastructure D.C.I.T, Limited, Vs Circle-2(1)(1), Milestone 87, Vadodara Halol Vadodara. Highway, Village Kotambi, Po Jaroad, Vadodara-391510 Pan : Aapcs 6078 Q

transfer pricing provisions. In this connection we draw our attention to the order of ITAT Chandigarh in the case of ACIT Vs. Ishwar Manufacturing Co. Pvt. Ltd. reported 67 taxmann.com 152 wherein it was held that For making a comparative analysis, apples are to be compared with apples and not with oranges. 10.21 In view of the above

DCIT CENTRAL CIRCLE 1(1), AHMEDABAD, GUJARAT vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR, Judicial Member\nAnd Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing\nproceedings. In the present case, the TPO has not initiated any\nsuch penalty but the Assessing Officer has initiated the penalty\nas well as levied the penalty without bringing on record\nmaterial information which can justify such penalty. Even on\nperusal of penalty under Section 271AA of the Act, the AO himself\nhas mentioned that appellant has reported

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. PRIYA BLUE INDUSTRIES PVT. LTD, GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR, Judicial Member\nAnd Shri Narendra Prasad Sinha (Accountant Member)

transfer pricing\nproceedings. In the present case, the TPO has not initiated any\nsuch penalty but the Assessing Officer has initiated the penalty\nas well as levied the penalty without bringing on record\n\nmaterial information which can justify such penalty. Even on\nperusal of penalty under Section 271AA of the Act, the AO himself\nhas mentioned that appellant

EFFECTIVE TELESERVICES PVT. LTD.,,GANDHINAGAR vs. THE DY.CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & M/S. Madhumita Royआयकर अपील सं./I.T.A. No. 3077/Ahd/2015 ("नधा"रण वष" / Assessment Year :2010-11) बनाम/ Effective Teleservices Pvt. Ltd. Dcit, Gandhinagar Circle, 1St Floor, It Tower Iv, Vs. Gandhinagar. Infocity, Nr. Infroda Circle, Gandhinagar – 382009 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaa Ce9 318 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से /Appellant By : Dhinal Shah, Ar ""यथ" क" ओर से / Respondent By: Apporva Bharadwaj, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing 25/02/2019 घोषणा क" तार"ख /Date Of Pronouncement 13/05/2019 आदेश/O R D E R Per Waseem Ahmed - Am:

price, under TNMM on the basis of internal comparables, is computation of net profit margin, subject to comparability adjustments affecting net profit margin of uncontrolled transactions, on the same parameters for the transactions with AEs as well as Non AEs, i.e. independent enterprises, and as long as the net profits earned from the controlled transactions are the same or higher

THE DY. CIT, CIRCLE-2(1)(1), ,, AHMEDABAD vs. M/S. HAZIRA LNG PRIVATE LIMITED,, AHMEDABAD

In the result, the appeal is dismissed

section 133(6) of the Act that the PLL furnished, vide letter dated 1st February 2012, to the Transfer Pricing Officer. In this letter, PLL has, inter alia, stated that “each spot cargo transaction is distinct and are not comparable” and that PLL “is presently operating in one segment i.e. R-LNG”. The information so furnished