LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

THE DCIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

THE DCIT, CIRCLE-1(1),, BARODA vs. GULBRANDSEN CHEMICALS PVT.LTD.,, BARODA

Appeal of the assessee is allowed, the appeal of the revenue is dismissed

253 26 2958800 MBTC 351036 371.41 465.18 93.77 32316646 DBTO 56852 351.84 409.27 57.43 3265010 Total Transfer Pricing Adjustment Rs.3,91,40,456/- 6. It was in this backdrop that the impugned ALP adjustment was made by the Assessing Officer. Aggrieved by the arm’s length price adjustment, assessee carried the matter in appeal before the CIT(A) but without

GULBRANDSEN CHEMICALS PVT.LTD.,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeal of the assessee is allowed, the appeal of the revenue is dismissed

253 26 2958800 MBTC 351036 371.41 465.18 93.77 32316646 DBTO 56852 351.84 409.27 57.43 3265010 Total Transfer Pricing Adjustment Rs.3,91,40,456/- 6. It was in this backdrop that the impugned ALP adjustment was made by the Assessing Officer. Aggrieved by the arm’s length price adjustment, assessee carried the matter in appeal before the CIT(A) but without

THE DCIT, CIRCLE-1,, AHMEDABAD vs. ADANI ENTERPRISES LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure U/s. 14A of the act on the ground that interest free funds available with appellant company in ITA Nos.: 1840/Ahd/12, 3321/Ahd/14 and 2305/Ahd/15 and 1918/Ahd/12,3480/Ahd/ 14 and 2531/Ahd/15 Assessment years

ADANI ENTERPRISES LTD.,AHMEDABAD vs. THE ADDL. CIT,RANGE-1, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure U/s. 14A of the act on the ground that interest free funds available with appellant company in ITA Nos.: 1840/Ahd/12, 3321/Ahd/14 and 2305/Ahd/15 and 1918/Ahd/12,3480/Ahd/ 14 and 2531/Ahd/15 Assessment years

DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. ADANI ENTERPRISES LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure U/s. 14A of the act on the ground that interest free funds available with appellant company in ITA Nos.: 1840/Ahd/12, 3321/Ahd/14 and 2305/Ahd/15 and 1918/Ahd/12,3480/Ahd/ 14 and 2531/Ahd/15 Assessment years

ADANI ENTERPRISES LTD.,,AHMEDABAD vs. THE ADDL.CIT.,RANGE-1,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure U/s. 14A of the act on the ground that interest free funds available with appellant company in ITA Nos.: 1840/Ahd/12, 3321/Ahd/14 and 2305/Ahd/15 and 1918/Ahd/12,3480/Ahd/ 14 and 2531/Ahd/15 Assessment years

ADANI ENTERPRISES LTD.,AHMEDABAD vs. THE ADDL. CIT,RANGE-1, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure U/s. 14A of the act on the ground that interest free funds available with appellant company in ITA Nos.: 1840/Ahd/12, 3321/Ahd/14 and 2305/Ahd/15 and 1918/Ahd/12,3480/Ahd/ 14 and 2531/Ahd/15 Assessment years

THE ADDL. CIT, RANGE-1,, AHMEDABAD vs. M/S. ADANI ENTERPRISES LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure U/s. 14A of the act on the ground that interest free funds available with appellant company in ITA Nos.: 1840/Ahd/12, 3321/Ahd/14 and 2305/Ahd/15 and 1918/Ahd/12,3480/Ahd/ 14 and 2531/Ahd/15 Assessment years

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

THE TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-8,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

THE ACIT, CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

THE TORRENT PHARMACEUTICALS,AHMEDABAD vs. THE ADDITIONAL CIT, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

BOCK COMPRESSORS INDIA PRIVATE,BENGALURU vs. THE DY. CIT, CIRCLE - 1(1)(1), VADODARA

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

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarassessment Year 2020-21

section 253 of the Income-tax Act. 1961 (the Act ) against the order passed by Assessment Unit, Income Tax Department (Assessing Officer" or "AO") dated 27 June 2024 in pursuance of the Directions issued by the Dispute Resolution Panel ("DRP") 2, Mumbai dated 24 May 2024, on the following grounds: I.T.A No. 1484/Ahd/2024 Bock Compressors India

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

253 (Ahmedabad) 10. At this juncture, Ld. Counsel for the assessee was asked at bar to demonstrate with evidence as to how the loan given in the present case would qualify as quasi capital and or given for commercial expediency of the assessee as were the facts in the case of Micro Inks Ltd. (supra) referred