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

28,64,240 13. Testing charges paid TNMM 20,43,14,512 14. Purchase of raw TNMM 1,60,21,796 material/packing material TOTAL 17,006,802,321 IT(TP)A Nos.1782/Del/2014 & 781/Del/2015 Ranbaxy Laboratories Ltd. vs. DCIT/Addl.CIT Asst.Years – 2009-10 & 2010-11 respectively 5.1. The assessee during the assessment proceeding filed its transfer pricing study report treating

M/S. RANBAXY LABORATORIES LIMITED,NEW DELHI vs. ADDL. CIT, 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

28,64,240 13. Testing charges paid TNMM 20,43,14,512 14. Purchase of raw TNMM 1,60,21,796 material/packing material TOTAL 17,006,802,321 IT(TP)A Nos.1782/Del/2014 & 781/Del/2015 Ranbaxy Laboratories Ltd. vs. DCIT/Addl.CIT Asst.Years – 2009-10 & 2010-11 respectively 5.1. The assessee during the assessment proceeding filed its transfer pricing study report treating

SUN PHARMACEUTICALS INDUSTRIES LTD. ( ERSTWHILE RANBAXY LABORATORIES LIMITED),BARODA vs. THE ACIT,CENT.CIRCLE-1, BARODA

Transfer Pricing documentation maintained by it in terms of Section 92D of the Act read with Rule 50D of the Income-tax Rules, 1962 ("Rules"): By rejecting (he approach adopted by the Appellant of undertaking a regional benchmarking in the TP report which is in line with the globally accepted TP principles and also accepted by CBDT

MEGHMANI ORGANICS LTD.,,AHMEDABAD vs. THE DCIT.,CENT.CIRCLE-1(1),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

transfer pricing legislation in India, which was brought on the statute vide Finance Act, 2012. 27. This Explanation states that it is merely clarificatory in nature inasmuch as it is 'for the removal of doubts', and, therefore, one has to proceed on the basis that it does not alter the basic character of definition of 'international transaction' under Section

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2 1 1 , VADODARA, VADODARA vs. NETAFIM IRRIGATION INDIA PRIVATE LIMITED, VADODARA

In the result appeal filed by the Revenue in ITA No

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

28 July 2023), where the Court held that once the TPO accepts TNMM as the most appropriate method for benchmarking a set of international transactions, it is not open to segregate and benchmark an individual element such as royalty, under a different method like CUP. The Court observed that each method under transfer pricing is a self-contained package

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2 1 1 , VADODARA, VADODARA vs. NETAFIM IRRIGATION INDIA PRIVATE LIMITED, VADODARA

In the result appeal filed by the Revenue in ITA No

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

28 July 2023), where the Court held that once the TPO accepts TNMM as the most appropriate method for benchmarking a set of international transactions, it is not open to segregate and benchmark an individual element such as royalty, under a different method like CUP. The Court observed that each method under transfer pricing is a self-contained package

LAXMI HYDROCOLLOIDS,AHMEDABAD vs. ITO, WARD-3(2)(8), AHMEDABAD

In the result, the appeal filed by the assessee in ITA No

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 416/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2014-2015 Laxmi Hydrocolloids, I.T.O., Plot No.104, Vs. Ward-3(2)(8), Devraj Industrial Estate, Ahmedabad. Piplej Pirana Road, Ahmedabad-380022. Pan: Aaefl2440D

Transfer Pricing Officer/Assessing officer in making upward adjustment invoking section 92- BA (i) of the Act in the present facts and circumstances of the case particularly when the said section stood omitted with effect from 1^-2017 from the statute itself. Hence, we find the same is without any basis, void ab initio and without jurisdiction, hi our considered opinion

THE JT. CIT, RANGE-4, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing legislation in India, which was brought on the statute vide Finance Act, 2012. 27. This Explanation states that it is merely clarificatory in nature inasmuch as it is 'for the removal of doubts', and, therefore, one has to proceed on the basis that it does not alter the basic character of definition of 'international transaction' under Section

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing legislation in India, which was brought on the statute vide Finance Act, 2012. 27. This Explanation states that it is merely clarificatory in nature inasmuch as it is 'for the removal of doubts', and, therefore, one has to proceed on the basis that it does not alter the basic character of definition of 'international transaction' under Section

MASTEK LIMITED,AHMEDABAD vs. THE JT.CIT, RANG4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing legislation in India, which was brought on the statute vide Finance Act, 2012. 27. This Explanation states that it is merely clarificatory in nature inasmuch as it is 'for the removal of doubts', and, therefore, one has to proceed on the basis that it does not alter the basic character of definition of 'international transaction' under Section

MASTEK LIMITED,,AHMEDABAD vs. THE DY.CIT, (OSD) - 1, CIRCLE-4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

transfer pricing legislation in India, which was brought on the statute vide Finance Act, 2012. 27. This Explanation states that it is merely clarificatory in nature inasmuch as it is 'for the removal of doubts', and, therefore, one has to proceed on the basis that it does not alter the basic character of definition of 'international transaction' under Section

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

28,865/- in respect of the export price of finished valves of L&T LLC by selectively utilizing the data where the 5% limit is lower in respect of AE and ignoring those figures/data where sale of valves to the AE are at prices higher as compared to the average prices charged to third unrelated parties. The addition so made

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

28,865/- in respect of the export price of finished valves of L&T LLC by selectively utilizing the data where the 5% limit is lower in respect of AE and ignoring those figures/data where sale of valves to the AE are at prices higher as compared to the average prices charged to third unrelated parties. The addition so made

SHELL GLOBAL SOLUTIONS INTERNATIONAL B.V,,AHMEDABAD vs. THE DCIT, INTL. TAXN.-1,, AHMEDABAD

The appeal of the assessee is allowed and CO filed by the Department is being dismissed for assessment year 2010-11

Section 271(l)(c) of the Act on account of the transfer pricing adjustment of I.T.A Nos.1389 to1392/Ahd/2019 & CO Nos. 16 to 19/Ahd/2022 Page No. 26 Shell Global Solutions International B.V. vs. DCIT & ACIT(IT) vs. Shell Global Solutions International B.V. Rs. 28

SHELL GLOBAL SOLUTIONS INTERNATIONAL B.V,,AHMEDABAD vs. THE DCIT, INTL. TAXN.-1,, AHMEDABAD

The appeal of the assessee is allowed and CO filed by the Department is being dismissed for assessment year 2010-11

Section 271(l)(c) of the Act on account of the transfer pricing adjustment of I.T.A Nos.1389 to1392/Ahd/2019 & CO Nos. 16 to 19/Ahd/2022 Page No. 26 Shell Global Solutions International B.V. vs. DCIT & ACIT(IT) vs. Shell Global Solutions International B.V. Rs. 28

SHELL GLOBAL SOLUTIONS INTERNATIONAL B.V,,AHMEDABAD vs. THE DCIT, INTL. TAXN.-1,, AHMEDABAD

The appeal of the assessee is allowed and CO filed by the Department is being dismissed for assessment year 2010-11

Section 271(l)(c) of the Act on account of the transfer pricing adjustment of I.T.A Nos.1389 to1392/Ahd/2019 & CO Nos. 16 to 19/Ahd/2022 Page No. 26 Shell Global Solutions International B.V. vs. DCIT & ACIT(IT) vs. Shell Global Solutions International B.V. Rs. 28

SHELL GLOBAL SOLUTIONS INTERNATIONAL B.V,,AHMEDABAD vs. THE DCIT, INTL. TAXN.-1,, AHMEDABAD

The appeal of the assessee is allowed and CO filed by the Department is being dismissed for assessment year 2010-11

Section 271(l)(c) of the Act on account of the transfer pricing adjustment of I.T.A Nos.1389 to1392/Ahd/2019 & CO Nos. 16 to 19/Ahd/2022 Page No. 26 Shell Global Solutions International B.V. vs. DCIT & ACIT(IT) vs. Shell Global Solutions International B.V. Rs. 28

ATUL LIMITED,AHMEDABAD vs. THE ACIT.,RANGE-1,, AHMEDABAD

Appeal is dismissed

section 92CA(1) of the Act on account of determination of arm's length price of international transaction entered into by the assessee. 19. On appeal, the learned CIT(A) upheld the findings of the AO while relying upon his own decision for the AY 2003-04. 20. The assessee is now in appeal before us against the aforesaid findings

THE DY.CIT, CIRCLE-3(1)(1)., AHMEDABAD vs. N.K. INDUSTRIES LTD., AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

transfer it to someone else for a monetary consideration, it becomes a perquisite convertible into money. But, irrespective of whether it is convertible into money or not, it should have a monetary value so as to attract Section 28(iv). A monetary transaction, in the true sense of the term, can also have a value. Any number of instances where