TE CONNECTIVITY INDIA PRIVATE LIMITED,BANGALORE vs. THE OFFICE OF THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 7(1)(1), BANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

section 92C of the Act, read with Rule 10B of the Income-tax Rules, prescribes that the ALP of an international transaction must be determined using one of the prescribed methods i.e. CUP, RPM, CPM, PSM, TNMM, or any other method notified. The statute does not permit the Revenue to determine ALP on an ad hoc basis. In the present

M/S STERLING URBAN DEVELOPMENT PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-6(1)(2), BANGALORE

In the result, the grounds of appeal are decided as follows: Ground

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.3282/Bang/2018 Assessment Year : 2014-15 M/S. Sterling Urban Development Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, No.8, Level-5, Prestige Nebula, Circle -6(1)(2), Cubbon Road, Bengaluru. Opp. To Income Tax Office Building, Bengaluru – 560 001. Pan : Aaacf 9183 C Appellant Respondent Appellant By : Shri. Ramasubramaniyan, Ca Respondent By : Shri. Muzaffar Hussain, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 12.10.2021 Date Of Pronouncement : 22.11.2021 O R D E R Per Chandra Poojari: This Is An Appeal By The Assessee Against The Final Order Of Assessment Dated 12.10.2018 Passed By The Dcit, Circle-6(1)(2), Bengaluru, Passed U/S. 144C R.W.S. 143(3) Of The Income-Tax Act, 1961 [The Act] Relating To Assessment Year 2014-15. 2. The Assessee Is A Company Incorporated Under The Companies Act, 1956 On 12Th June 2002 Under The Name & Style “Foundation Habitats (India) Private Limited”. The Company Has Been Converted As A Spv In The Year 2006. The Assessee Is Engaged In The Activities Relating To Real Estate

10B. In the matter IT(TP)A No.3282/Bang/2018 Page 19 of 26 of GENERAL FINANCE CO. vs. ACIT, which judgment has also been taken note of by the tribunal while repelling the contention raised by revenue with regard to retrospectivity of Section 92BA(i) of the Act. Thus, when clause (i) of Section 92BA having been omitted by the Finance

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BANGALORE

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

M/S. VIJAYANAGAR EDUCATIONAL TRUST,BENGALURU vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), BENGALURU

In the result appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2019-20

purchase of property, however, the said loan was never transferred to the trust and therefore this transaction was for the personal benefit of the trustee, hence it violates the provisions of section 13(1)(d) of the Act. The ld. The ld. CIT(E) relied on the decision of the Hon’ble Supreme Court in the case of Director

WIPRO GE HEALTHCARE PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, the appeal filed by the assessee in IT(TP)A No

Bench: Shri Chandra Poojari & Smt. Beena Pillai

10B(1)(b) will be the MAM since the trading segment involves purchases of goods which is resale. In my view resale price method offers a solution for the issue on hand. Accordingly TPO is directed to adopt resale price method of ALP determination. In doing so gross margin IT(TP)A Nos.344 & 703/Bang/2021 M/s. Wipro GE Healthcare

WIPRO GE HEALTHCARE PRIVATE LIMITED (EARLIER KNOWN AS GE MEDICAL SYSTEMS INDIA PRIVATE LIMITED),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, the appeal filed by the assessee in IT(TP)A No

Bench: Shri Chandra Poojari & Smt. Beena Pillai

10B(1)(b) will be the MAM since the trading segment involves purchases of goods which is resale. In my view resale price method offers a solution for the issue on hand. Accordingly TPO is directed to adopt resale price method of ALP determination. In doing so gross margin IT(TP)A Nos.344 & 703/Bang/2021 M/s. Wipro GE Healthcare

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BENGALURU

Section\n153D. It is not an exercise dealing with a immaterial matter which\ncould be corrected by taking recourse to Section 292B of the Act.\n16. We are not inclined to interdict the order of the Tribunal.\n17. Accordingly, the appeal is closed.\n6.5 The above view taken by the Hon’ble Delhi High Court in the case of PCIT

DELL INDIA PRIVATE LTD.,,BANGALORE vs. JCIT, BANGALORE

In the result, the appeal filed by the assessee is partly allowed and the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri George George K. & Ms. Padmavathy S

section 69C. 104. The DRP accepted the Assessee’s contention that the gross amount debited to profit and loss account towards travelling and conveyance is Rs. 13,34,17,000/- and Rs. 15,56,565/- represents the amount grouped under other heads of expense which was subsequently reversed. The DRP directed deletion of the addition. Aggrieved, the revenue

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE-1, BENGALURU vs. COSMOPOLIS EDUCATIONAL TRUST, BENGALURU

In the result, the appeal filed by the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2021-22

purchase consideration of school EPS and remaining amount of Rs. 41,85,16,746/- was transferred or credited to corpus/capital found account. 6. In addition to the above, the assessee trust has received inter- trust funds of Rs. 20,22,96,029/- throughout the year from the schools . Page 3 of 24 run by M/s CET for construction its school