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

transfer pricing addition of Rs.9,95,440/- towards corporate guarantee provided to AE on which no guarantee fee was charged, without appreciating the facts and reasons mentioned by the AO in the assessment order, and by the TPO in his order.” 8. The learned AR for the assesse before us file paper book running from pages

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

transfer pricing addition of Rs.9,95,440/- towards corporate guarantee provided to AE on which no guarantee fee was charged, without appreciating the facts and reasons mentioned by the AO in the assessment order, and by the TPO in his order.” 8. The learned AR for the assesse before us file paper book running from pages

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

transfer pricing addition of Rs.9,95,440/- towards corporate guarantee provided to AE on which no guarantee fee was charged, without appreciating the facts and reasons mentioned by the AO in the assessment order, and by the TPO in his order.” 8. The learned AR for the assesse before us file paper book running from pages

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

254) and ONGC v. CIT (322 ITR 180)] and being such, it was invalid and, therefore, not binding either upon the Assessing Officer or upon him; (f) that, in any case, the aforesaid CBDT Instruction could not bind him in terms of the express prohibition contained in clause (b) of the Proviso to sub-section (1) of Section

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

254) and ONGC v. CIT (322 ITR 180)] and being such, it was invalid and, therefore, not binding either upon the Assessing Officer or upon him; (f) that, in any case, the aforesaid CBDT Instruction could not bind him in terms of the express prohibition contained in clause (b) of the Proviso to sub-section (1) of Section

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

254) and ONGC v. CIT (322 ITR 180)] and being such, it was invalid and, therefore, not binding either upon the Assessing Officer or upon him; (f) that, in any case, the aforesaid CBDT Instruction could not bind him in terms of the express prohibition contained in clause (b) of the Proviso to sub-section (1) of Section

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

254) and ONGC v. CIT (322 ITR 180)] and being such, it was invalid and, therefore, not binding either upon the Assessing Officer or upon him; (f) that, in any case, the aforesaid CBDT Instruction could not bind him in terms of the express prohibition contained in clause (b) of the Proviso to sub-section (1) of Section

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

254) and ONGC v. CIT (322 ITR 180)] and being such, it was invalid and, therefore, not binding either upon the Assessing Officer or upon him; (f) that, in any case, the aforesaid CBDT Instruction could not bind him in terms of the express prohibition contained in clause (b) of the Proviso to sub-section (1) of Section

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

254) and ONGC v. CIT (322 ITR 180)] and being such, it was invalid and, therefore, not binding either upon the Assessing Officer or upon him; (f) that, in any case, the aforesaid CBDT Instruction could not bind him in terms of the express prohibition contained in clause (b) of the Proviso to sub-section (1) of Section

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

transfer pricing net. To tackle the same, by the Finance Act of 2012 an Explanation to Section 92B[2] of the Act was brought on the statute with retrospective effect from 1st April 2002. The explanation is clarificatory in nature and added certain categories of transactions, inter alia, the transaction as specified under clause (c) of explanation (i) to section

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

transfer pricing net. To tackle the same, by the Finance Act of 2012 an Explanation to Section 92B[2] of the Act was brought on the statute with retrospective effect from 1st April 2002. The explanation is clarificatory in nature and added certain categories of transactions, inter alia, the transaction as specified under clause (c) of explanation (i) to section

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

transfer pricing net. To tackle the same, by the Finance Act of 2012 an Explanation to Section 92B[2] of the Act was brought on the statute with retrospective effect from 1st April 2002. The explanation is clarificatory in nature and added certain categories of transactions, inter alia, the transaction as specified under clause (c) of explanation (i) to 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

transfer pricing net. To tackle the same, by the Finance Act of 2012 an Explanation to Section 92B[2] of the Act was brought on the statute with retrospective effect from 1st April 2002. The explanation is clarificatory in nature and added certain categories of transactions, inter alia, the transaction as specified under clause (c) of explanation (i) to section

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.

Transfer Pricing Officer. TPO's Comment: 2.1 This is general ground of appeal, however the facts of the case are as under:- In this case, a TP adjustment of Rs. 60. 16 lacks was made on account of non charging of corporate guarantees fees on the corporate guarantee given on behalf of the AEs as detailed below: - (1) Zao Torrent

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.

Transfer Pricing Officer. TPO's Comment: 2.1 This is general ground of appeal, however the facts of the case are as under:- In this case, a TP adjustment of Rs. 60. 16 lacks was made on account of non charging of corporate guarantees fees on the corporate guarantee given on behalf of the AEs as detailed below: - (1) Zao Torrent

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.

Transfer Pricing Officer. TPO's Comment: 2.1 This is general ground of appeal, however the facts of the case are as under:- In this case, a TP adjustment of Rs. 60. 16 lacks was made on account of non charging of corporate guarantees fees on the corporate guarantee given on behalf of the AEs as detailed below: - (1) Zao Torrent

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.

Transfer Pricing Officer. TPO's Comment: 2.1 This is general ground of appeal, however the facts of the case are as under:- In this case, a TP adjustment of Rs. 60. 16 lacks was made on account of non charging of corporate guarantees fees on the corporate guarantee given on behalf of the AEs as detailed below: - (1) Zao Torrent