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

In the result, the appeal of the assessee is partly allowed, while the CO filed by the Revenue is dismissed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarwith Co No.20/Ahd/2022 Assessment Year : 2014-15 & 1783/Ahd/2019 Assessment Year : 2015-16 Shell Global Solutions International B.V.,, Acit, International C/O. Bsr Associates & Llp Vs Taxation-1 903, Commerce House V Ahmedabad. Nr.Vodafone House Prahaladnagar Corporation Road, Ahmedabad. Pan : Aaics 3589 H (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocate & Shri Parin Shah, Ar : Dr. Darsi Suman Ratnam, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 05/09/2024 & 06/12/2024 घोषणा क" तारीख /Date Of Pronouncement: 18/12/2024

price paid by the AEs to the assessee is at arm's length within the methods laid down in the Act and the judicial precedents rendered on this issue. The Ld. TPO is directed to consider the same in accordance with the law, after affording an opportunity of being heard to the assessee.” 32. He, therefore, contended that

SHELL GLOBAL SOLUTIONS INTERNATIONAL B.V,,MUMBAI vs. THE ACIT, INTL. TAXN.-2, AHMEDABAD

In the result, the appeal of the assessee is partly allowed, while the CO filed by the Revenue is dismissed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarwith Co No.20/Ahd/2022 Assessment Year : 2014-15 & 1783/Ahd/2019 Assessment Year : 2015-16 Shell Global Solutions International B.V.,, Acit, International C/O. Bsr Associates & Llp Vs Taxation-1 903, Commerce House V Ahmedabad. Nr.Vodafone House Prahaladnagar Corporation Road, Ahmedabad. Pan : Aaics 3589 H (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocate & Shri Parin Shah, Ar : Dr. Darsi Suman Ratnam, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 05/09/2024 & 06/12/2024 घोषणा क" तारीख /Date Of Pronouncement: 18/12/2024

price paid by the AEs to the assessee is at arm's length within the methods laid down in the Act and the judicial precedents rendered on this issue. The Ld. TPO is directed to consider the same in accordance with the law, after affording an opportunity of being heard to the assessee.” 32. He, therefore, contended that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD, HYDERABAD vs. MYTRAH VAYU (GUJARAT) PRIVATE LIMITED, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

Section 56(2)(vii)(b) of the Act for making addition of excess amount received in comparison to the Fair Market Value (‘FMV’) of the shares, to the income of the assessee. However, noting that the shares were issued only in the subsequent year, he held that the substantive addition is to be made in the succeeding year and made

M/S. CADILA PHARMACEUTICALS LTD. ,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD

In the result, appeal of the Revenue is partly allowed for statistical purpose and the appeal of the assessee is partly allowed

Bench: Ms. Suchitra Kamble & Shri Makarand Vasant Mahadeokarassessment Year: 2012-13

Transfer Pricing addition, the TPO passed an order under Section 92CA(3) of the Act on 31.12.2015 thereby quantifying an upward adjustment of Rs.60,83,440/- on International Transaction of the assessee. The Assessing Officer further made disallowance under Section 36(1)(iii) of the Act towards interest free advances to the Companies under same management amounting to Rs.1

THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. CADILA PHARMACEUTICALS LTD. , AHMEDABAD

In the result, appeal of the Revenue is partly allowed for statistical purpose and the appeal of the assessee is partly allowed

Bench: Ms. Suchitra Kamble & Shri Makarand Vasant Mahadeokarassessment Year: 2012-13

Transfer Pricing addition, the TPO passed an order under Section 92CA(3) of the Act on 31.12.2015 thereby quantifying an upward adjustment of Rs.60,83,440/- on International Transaction of the assessee. The Assessing Officer further made disallowance under Section 36(1)(iii) of the Act towards interest free advances to the Companies under same management amounting to Rs.1

M/S. BODAL CHEMICALS LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-1, AHMEDABAD

In the result, the appeals being IT(SS)A No

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

transfer other than from P&L, without prejudice to above the Ld. AR further submitted that it is not necessary that the General Reserves are always created out of accumulated profits. General Reserves can be created in many ways including following transactions; general reserves can arise out of revaluation of certain assets due to amalgamation. The Ld. AR relied upon

BUNDY INDIA LTD.,,BARODA vs. THE DCIT, CIRCLE-1(1),, BARODA

In the result, the appeal preferred by the assessee is allowed in part

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinha

section 92C(3) of the Act. It is found that the primary objective of the study report prepared by the assessee was to review the transfer pricing arrangement for international transactions with its associate enterprises during the year ended on 31st March 2 007. Thus, this study report was not intended to determine the ALP of international transactions with

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. ACIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

2 per cent. We observe that in the instant facts, the assessee has computed the ALP at LIBOR plus 2.5%. The Ld. CIT(Appeals) has upheld the order of the Ld. Assessing Officer on the Ground that the assessee has not given the comparable basis for arriving at the aforesaid rate. However, in our view, the Ld. CIT(Appeals

SHRI MUKESH RASIKLAL SHAH,,AHMEDABAD vs. THE ACIT, CIRCLE-9, NOW CIRCLE-4(2),, AHMEDABAD

In the result, the appeals filed by the assessee are hereby dismissed

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

VII vide order dated 10.04.1997 confirmed the assessment orders passed by the Assessing Officer. On further appeal of the assessee before this Tribunal, the Co-ordinate Bench of this Tribunal vide order dated 08.06.2005 in ITA nos. 2664, 2665/Abad/1997 restored the issue back to ITA Nos. 3217 & 3218/Ahd/2015 Shri Mukesh Rasklal Shah Vs. ACIT Asst. Year

SHRI MUKESH RASIKLAL SHAH,,AHMEDABAD vs. THE ACIT, CIRCLE-9, NOW CIRCLE-4(2),, AHMEDABAD

In the result, the appeals filed by the assessee are hereby dismissed

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

VII vide order dated 10.04.1997 confirmed the assessment orders passed by the Assessing Officer. On further appeal of the assessee before this Tribunal, the Co-ordinate Bench of this Tribunal vide order dated 08.06.2005 in ITA nos. 2664, 2665/Abad/1997 restored the issue back to ITA Nos. 3217 & 3218/Ahd/2015 Shri Mukesh Rasklal Shah Vs. ACIT Asst. Year

NIRMA LIMITED,,AHMEDABAD vs. DCIT, CIRCLE-3(1)(1),, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

vii. There are specific provisions in the Act such as explanation 2 to sec 43(6) and Explanation 7 to sec 43(1), which require that tax qualifying merger results in amalgamated company stepping into the shoes of the amalgamating company for the purpose of depreciation. Thus depreciation will not be available in case the goodwill is self generated

THE DCIT, CIR-3(1)(1), AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

vii. There are specific provisions in the Act such as explanation 2 to sec 43(6) and Explanation 7 to sec 43(1), which require that tax qualifying merger results in amalgamated company stepping into the shoes of the amalgamating company for the purpose of depreciation. Thus depreciation will not be available in case the goodwill is self generated

M/S. NIRMA LIMITED,,AHMEDABAD vs. THE DCIT, CIRCLE-3(1)(1),, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

vii. There are specific provisions in the Act such as explanation 2 to sec 43(6) and Explanation 7 to sec 43(1), which require that tax qualifying merger results in amalgamated company stepping into the shoes of the amalgamating company for the purpose of depreciation. Thus depreciation will not be available in case the goodwill is self generated

JT. CTI (OSD), CIRCLE-3(1)(1),, AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

Bench: Dr. B.R.R. Kumar, Vice- & Ms. Suchitra R. Kamble

vii. There are specific provisions in the Act such as explanation 2 to sec 43(6) and Explanation 7 to sec 43(1), which require that tax qualifying merger results in amalgamated company stepping into the shoes of the amalgamating company for the purpose of depreciation. Thus depreciation will not be available in case the goodwill is self generated

SHALBY LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-4(1)(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year 2015-16

vii) of the Act would only be for academic purpose and there is no requirement for adjudicating the said issue as the substantive addition of Rs.9,60,00,000/- made by A.O. u/s. 68 of the Act has already been confirmed. 4. The Ld. CIT(A) has erred in not allowing set off of current year loss as per return

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

transfer of marketing rights and trademarks is taxable as revenue income. The findings of the AO and the CIT(A) are upheld. Accordingly, the grounds of appeal raised by the assessee on this issue are dismissed. Grounds Relating to Other and Miscellaneous Expenses 26. The issue under these grounds involve the adhoc disallowances made by the AO for expenses claimed

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

transfer of marketing rights and trademarks is taxable as revenue income. The findings of the AO and the CIT(A) are upheld. Accordingly, the grounds of appeal raised by the assessee on this issue are dismissed. Grounds Relating to Other and Miscellaneous Expenses 26. The issue under these grounds involve the adhoc disallowances made by the AO for expenses claimed

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY.COMMISSIONER OF INCOME TAX,CIRCLE-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

transfer of marketing rights and trademarks is taxable as revenue income. The findings of the AO and the CIT(A) are upheld. Accordingly, the grounds of appeal raised by the assessee on this issue are dismissed. Grounds Relating to Other and Miscellaneous Expenses 26. The issue under these grounds involve the adhoc disallowances made by the AO for expenses claimed