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

Pricing ('TP') documentation maintained by it in terms of section 92D of the Act read with Rule 10D of the Income-tax Rules, 1962 ('Rules'); 2.2 not accepting the overseas Associated Enterprises ('AEs') as the tested party, being the least complex of the transacting entities and instead considering the appellant as the tested party, thus violating the basic principles

ASANDAS & SONS PRIVATE LIMITED,MEHSANA vs. THE DY.CIT, CIRCLE- GANDHINAGAR, GANDHINAGAR

In the result the appeal filed by the assessee is allowed for statistical purpose

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

191 Delhi High Court. The facts of case are that the assessee therein applied the Transaction Net Margin Method (TNMM") as the most appropriate method for benchmarking international transactions, which the TPO accepted. He, however, made transfer pricing addition by rejecting the claim of adjustment on account of unutilized capacity. The Tribunal observed that the most appropriate method

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

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section

GUJARAT FLUOROCHEMICALS LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

price that such goods or services will ordinarily fetch in the open market. To our mind sum of Rs. 4.51 per unit of electricity only represented cost of electricity generation to the assessee and not the market value thereof. It is not in dispute that the GEB charged Rs. 5 per unit for supplying electricity to other industries including

GUJARAT FLUROCHEMICALS LIMITED.,,VADODARA vs. THE ACIT, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

price that such goods or services will ordinarily fetch in the open market. To our mind sum of Rs. 4.51 per unit of electricity only represented cost of electricity generation to the assessee and not the market value thereof. It is not in dispute that the GEB charged Rs. 5 per unit for supplying electricity to other industries including

THE DCIT, CIRCLE-4,, AHMEDABAD vs. GHCL LIMITED, AHMEDABAD

section 36(1)(iii) can only be allowed on the interest if the assessee borrows capital for its own business. Hence, it was held that interest on the borrowed amount could not be allowed if such amount had been advanced to a subsidiary company of the assessee. With respect, we are of the opinion that the view taken

GHCL LIMITED,AHMEDABAD vs. THE DY.CIT., CIRCLE-4,, AHMEDABAD

section 36(1)(iii) can only be allowed on the interest if the assessee borrows capital for its own business. Hence, it was held that interest on the borrowed amount could not be allowed if such amount had been advanced to a subsidiary company of the assessee. With respect, we are of the opinion that the view taken

GUJARAT VENTURE CAPITAL FUND 1995,,AHMEDABAD vs. THE ACIT, CIRCLE-10,, AHMEDABAD

In the result, the appeal of the assessee is allowed

price of the share at Rs. 55 including the share premium of Rs. 45 per share. 4.1 The IPO was opened on 08/09/2008 and closed on 11/09/2008. The ‘’20 ML’’ budgeted its IPO expenses at Rs. 2.65 crores but incurred an expense of Rs. 3.91 crore which was more than budgeted expenses. 4.2 The assessee received sale proceeds

SUN PHARMACEUTICALS INDUSTRIES LTD.,,VADODARA vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-1,, VADODARA

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LIMITED,, VADODARA

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted

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

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LIMITED,, VADODARA

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted

THE ITO, WARD-2(2)(1),, AHMEDABAD vs. SHRI JAGDISHCHANDRA B. PATEL,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 2166/Ahd/2016 With C.O.159/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2010-2011 I.T.O, Shri Jagdishchandra B. Patel, Ward-2(2)(1), Vs. 4A, Ketan Society, Ahmedabad. Nr. Sardar Patel Colony, Navjivan Post, Ahmedabad. Pan: Afupp4222L

price at which the lands was sold to BRL in a period of 3 months only. Accordingly, he was of the view that the entire modus operandi was to avoid the tax liability by reducing the gain by the amount of impugned compensation paid to ABPL. 5.1 The AO was also of the view that had the assessee waited

NIRMA CHEMICAL WORKS PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

transferred and in the process several dispute arose which gone upto apex court. ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 27 (d) Similar loss was also claimed by sister concern Nirma Industries limited in A.Y. 2006-07 but no addition made by the AO which shows the contradictory approach of the AO. 37. Being aggrieved by the order

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

transferred and in the process several dispute arose which gone upto apex court. ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 27 (d) Similar loss was also claimed by sister concern Nirma Industries limited in A.Y. 2006-07 but no addition made by the AO which shows the contradictory approach of the AO. 37. Being aggrieved by the order

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

transferred and in the process several dispute arose which gone upto apex court. ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 27 (d) Similar loss was also claimed by sister concern Nirma Industries limited in A.Y. 2006-07 but no addition made by the AO which shows the contradictory approach of the AO. 37. Being aggrieved by the order

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

transferred and in the process several dispute arose which gone upto apex court. ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 27 (d) Similar loss was also claimed by sister concern Nirma Industries limited in A.Y. 2006-07 but no addition made by the AO which shows the contradictory approach of the AO. 37. Being aggrieved by the order

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

transferred and in the process several dispute arose which gone upto apex court. ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 27 (d) Similar loss was also claimed by sister concern Nirma Industries limited in A.Y. 2006-07 but no addition made by the AO which shows the contradictory approach of the AO. 37. Being aggrieved by the order

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

transferred and in the process several dispute arose which gone upto apex court. ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 27 (d) Similar loss was also claimed by sister concern Nirma Industries limited in A.Y. 2006-07 but no addition made by the AO which shows the contradictory approach of the AO. 37. Being aggrieved by the order