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

price and the issue price is a benefit to employees. Therefore, deferred employee compensation is a component of employee remuneration and actual loss to the company. Therefore, this is only a mode of discharging the liability of employees, and it is an ascertained liability. Accordingly, the assessee contended that the amount debited/amortized in ITR of earlier years had been correctly

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

transferred or services provided in the international transaction or the specified domestic transaction; Analysis: This Rule prescribes the methodology of CUP method. The words “comparable” and “such” appearing in the language clearly demonstrate that the price charged in a comparable transaction or a number of such comparable transactions must be identified. Thereafter, such price must be adjusted to account

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

transferred or services provided in the international transaction or the specified domestic transaction; Analysis: This Rule prescribes the methodology of CUP method. The words “comparable” and “such” appearing in the language clearly demonstrate that the price charged in a comparable transaction or a number of such comparable transactions must be identified. Thereafter, such price must be adjusted to account

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No.91/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2012-2013 Lambda Therapeutic Research Ltd. D.C.I.T., Lambda House, Vs. Circle-2(1)(2), Opp. Gujarat High Court, Ahmedabad. S.G. Highway, Gota, Ahmedabad-382481. Pan: Aaacl4089R

transfer pricing. 8. Both the lower authorities have passed the orders without properly appreciating the facts and they further erred in grossly ignoring various submissions, explanations and information submitted by the appellant from time to time which ought to have been considered before passing the impugned order. This action of the lower authorities is in clear breach

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No.91/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2012-2013 Lambda Therapeutic Research Ltd. D.C.I.T., Lambda House, Vs. Circle-2(1)(2), Opp. Gujarat High Court, Ahmedabad. S.G. Highway, Gota, Ahmedabad-382481. Pan: Aaacl4089R

transfer pricing. 8. Both the lower authorities have passed the orders without properly appreciating the facts and they further erred in grossly ignoring various submissions, explanations and information submitted by the appellant from time to time which ought to have been considered before passing the impugned order. This action of the lower authorities is in clear breach

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

In the result, the appeal for the assessment year 2013-14 is also partly allowed in the terms indicated above

section 143(3) r.w.s. 144C of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] for the assessment year 2012-13. ITA Nos. 954/Ahd/17 and 213/Ahd/18 Assessment years: 2012-13 and 2013-14 Page 2 of 85 4. The assessee has filed the revised grounds of appeal, which are essentially the same but differently worded and which seeks

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

In the result, the appeal for the assessment year 2013-14 is also partly allowed in the terms indicated above

section 143(3) r.w.s. 144C of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] for the assessment year 2012-13. ITA Nos. 954/Ahd/17 and 213/Ahd/18 Assessment years: 2012-13 and 2013-14 Page 2 of 85 4. The assessee has filed the revised grounds of appeal, which are essentially the same but differently worded and which seeks

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

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

197 has held as under: 26. We have carefully considered the rival submissions. In our considered opinion, the entire purpose of the transfer pricing analysis is to compute the income arising from an international transaction, having regard to its arm's length price. The 'international transaction' in question, relates to import of raw materials by the assessee from its associated

THE DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

197 has held as under: 26. We have carefully considered the rival submissions. In our considered opinion, the entire purpose of the transfer pricing analysis is to compute the income arising from an international transaction, having regard to its arm's length price. The 'international transaction' in question, relates to import of raw materials by the assessee from its associated

THE DCIT CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

197 has held as under: 26. We have carefully considered the rival submissions. In our considered opinion, the entire purpose of the transfer pricing analysis is to compute the income arising from an international transaction, having regard to its arm's length price. The 'international transaction' in question, relates to import of raw materials by the assessee from its associated

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

197 has held as under: 26. We have carefully considered the rival submissions. In our considered opinion, the entire purpose of the transfer pricing analysis is to compute the income arising from an international transaction, having regard to its arm's length price. The 'international transaction' in question, relates to import of raw materials by the assessee from its associated

THE DCIT, CIRCLE-1(2),, BARODA vs. M/S. PRATHAM INVESTMENTS,, BARODA

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

197 (Guj) and the decision of the co-ordinate bench in ACIT vs. Bright Star Investments (P) Ltd. 120 TTJ 498 (Mum). The CIT(A) has taken cognizance of the aforesaid decisions and adjudicated the issue in favour of the assessee as under: “3.2.1. In appeal the learned Authorized Representative submitted that- "Conversion of shares from Stock in trade

M/S. PRATHAM DEVELOPERS,,VADODARA vs. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2),, BARODA

In the result, Ground No.4 of the assessee’s appeal is allowed in part

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

197 (Guj) and the decision of the co-ordinate bench in ACIT vs. Bright Star Investments (P) Ltd. 120 TTJ 498 (Mum). The CIT(A) has taken cognizance of the aforesaid decisions and adjudicated the issue in favour of the assessee as under: “3.2.1. In appeal the learned Authorized Representative submitted that- "Conversion of shares from Stock in trade

THE DCIT(INTL. TAXN),,, AHMEDABAD vs. M/S. SHANDONG TIEJUN ELECTRIC POWER ENGG. COMPANY LTD., KUTCH

In the result, all three appeals of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri T. S. Kapoor

price construction contract with Adani Power Limited and Jhajar Power Limited The company started recognizing revenue in the financial year 2007-2008 as the outcome of the contract can be estimated reliably. Contract Revenue and expenses are recognized as revenue and expenses are recognized and expenses upto the stage of completion as on 31.03.2009 The management has estimated cost

TYCO VALVES & CONTROLS (INDIA) PVT. LTD.,BARODA vs. THE DY.CIT, BARODA CIR- 4,, BARODA

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

sections namely, Activities carried out in relation to valves, components, etc.; Provision of support services; Receipt of Management charge; Provision of design related services and Reimbursements.” ACIT vs. M/s.Tyco Valves & Controls (I) Pvt.Ltd.vs. DCIT Asst.Year - 2007-08 3.5. The Assessee for benchmarking its transactions classified under the head in relation to valves, component etc in connection with the determination

THE DCIT, CIRCLE-1,, AHMEDABAD vs. AIA ENGINEERING LTD.,, AHMEDABAD

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

transfer pricing officer vide order u/s. 92CA(3) of the Act dated 26th October, 2009 has made upward adjustment of Rs. 17,64,60,761/- on account of sale price to Vega Industries Middle East FZE for which no separate addition was made as Assessing Officer was of the view that Vega Industries (Middle East) FZE was the proprietary concern

AIA ENGINEERING LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

transfer pricing officer vide order u/s. 92CA(3) of the Act dated 26th October, 2009 has made upward adjustment of Rs. 17,64,60,761/- on account of sale price to Vega Industries Middle East FZE for which no separate addition was made as Assessing Officer was of the view that Vega Industries (Middle East) FZE was the proprietary concern

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