THE DCIT, CIRCLE-8,, AHMEDABAD vs. SCHUTZ DISHMAN BIOTECH LTD.,, AHMEDABAD

In the result, the Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1909/Ahd/2015 2. आयकर अपील सं./Ita No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The Dcit 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The Dcit Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee By : Shri Tushar Hemani & Shri Parimal Parmar, Ar Revenue By : Shri Vinod Jalwani, Sr.Dr

transfer price analysis an effort is being made to compare related party transactions undertaken by the assessee with the uncontrolled transactions undertaken by the comparable, and thus arrive at a conclusion as to whether transaction bench mark is at arm’s length or not. For example, a chosen company, though functionally comparable has entered international transactions beyond a percentage with

M/S. SCHUTZ DISHMAN BIOTECH PVT.LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-8,, AHMEDABAD

In the result, the Revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1909/Ahd/2015 2. आयकर अपील सं./Ita No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The Dcit 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The Dcit Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee By : Shri Tushar Hemani & Shri Parimal Parmar, Ar Revenue By : Shri Vinod Jalwani, Sr.Dr

transfer price analysis an effort is being made to compare related party transactions undertaken by the assessee with the uncontrolled transactions undertaken by the comparable, and thus arrive at a conclusion as to whether transaction bench mark is at arm’s length or not. For example, a chosen company, though functionally comparable has entered international transactions beyond a percentage with

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

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

transfer pricing report, it include' certain details and data of certain comparables- The TPO and thereafter the DRP included certain other comparables; the assessee's grievance with respect to the inclusion of the three comparables was accepted in the appeal by the impugned order. The comparables so excluded were M/s Accentia Technologies, iGate Global Consultants Ltd and Infosys

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

transfer pricing report, it include' certain details and data of certain comparables- The TPO and thereafter the DRP included certain other comparables; the assessee's grievance with respect to the inclusion of the three comparables was accepted in the appeal by the impugned order. The comparables so excluded were M/s Accentia Technologies, iGate Global Consultants Ltd and Infosys

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

In the result, both the appeals filed by the Assessee as well as Revenue are partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2012-13

239/-, disallowance of deduction under Section 35(2AB) amounting to Rs.50,67,99,443/-, addition of Rs.5,53,07,808/- towards capitalisation of interest to CWIT under Section 36(1)(iii) of the Act. The Assessing Officer made disallowance under Section 40A(2)(b) of the Act amounting to Rs.1,35,19,424/- and disallowance of sales/business/products promotion expenses under

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

In the result, both the appeals filed by the Assessee as well as Revenue are partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2012-13

239/-, disallowance of deduction under Section 35(2AB) amounting to Rs.50,67,99,443/-, addition of Rs.5,53,07,808/- towards capitalisation of interest to CWIT under Section 36(1)(iii) of the Act. The Assessing Officer made disallowance under Section 40A(2)(b) of the Act amounting to Rs.1,35,19,424/- and disallowance of sales/business/products promotion expenses under

A MENARINI INDIA PVT. LTD.,AHMEDABAD vs. THE PCIT-1, AHMEDABAD

In the result, the appeal filed by the Assessee is dismissed

Bench: DR. BRR KUMAR (Vice President), Shri T.R. SENTHIL KUMAR (Judicial Member)

239/- as against the returned loss of Rs.43,37,27,293/-. Thus the Assessing Officer has not verified the above expenses totaling Rs.16,68,02,397/- during assessment proceedings which is erroneous and prejudicial to the interest of Revenue. Therefore a show cause notice was issued to the assessee. The assessee replied to the show cause notice which

THE DCIT, CIRCLE-4,, AHMEDABAD vs. HITACHI HOME & LIFE SOLUTION(INDIA) LTD.,, AHMEDABAD

In the result, Assessee’s appeal in ITA No

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

price of the air conditioner comprises the warranty expenses. The provision for the warranty was made on a scientific basis which is accordingly allowable as held by the Hon’ble Apex Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT reported in 314 ITR 62. 12.4. Without prejudice to the above, the assessee also claimed that

THE DCIT, , CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. HITACHI HOME & LIFE SOLUTIONS (INDIA) LTD.,, AHMEDABAD

In the result, Assessee’s appeal in ITA No

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

price of the air conditioner comprises the warranty expenses. The provision for the warranty was made on a scientific basis which is accordingly allowable as held by the Hon’ble Apex Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT reported in 314 ITR 62. 12.4. Without prejudice to the above, the assessee also claimed that

HITACHI HOME & LIFE SOLUTIONS (I) LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX,CIRCLE-4,, AHMEDABAD

In the result, Assessee’s appeal in ITA No

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

price of the air conditioner comprises the warranty expenses. The provision for the warranty was made on a scientific basis which is accordingly allowable as held by the Hon’ble Apex Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT reported in 314 ITR 62. 12.4. Without prejudice to the above, the assessee also claimed that

THE DCIT, CIRCLE-4,, AHMEDABAD vs. HITACHI HOME & LIFE SOLUTIONS (INDIA) LTD.,, AHMEDABAD

In the result, Assessee’s appeal in ITA No

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

price of the air conditioner comprises the warranty expenses. The provision for the warranty was made on a scientific basis which is accordingly allowable as held by the Hon’ble Apex Court in the case of Rotork Controls India Pvt. Ltd. vs. CIT reported in 314 ITR 62. 12.4. Without prejudice to the above, the assessee also claimed that

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

THE ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

THE DY. CIT., CIRCLE-3,, AHMEDABAD vs. KHANDWALA INTEGRATED FINANCIAL SERVICES PVT. LTD, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3),, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either