TYCO FIRE AND SECURITY INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri N. V. Vasudevan & Shri Chandra Poojariit(Tp)A No.270/Bang/2021 Assessment Year : 2016-17 Acit, M/S. Tyco Fire & Security India Private Limited, Vs. D-601, Rmz Centennial, Circle - 7(1)(1), Kundalahalli Main Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 0087 C Appellant Respondent Assessee By : Shri. Rajan Vora, Ca Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 27/11.09.2022 Date Of Pronouncement : 28.11.2022 O R D E R Per N V Vasudevan

method, by which,— IT(TP) A No. 270/Bang/2021 Tyco Fire and Security India Pvt.Ltd. (i) the net profit margin realised by the enterprise from an international transaction [or a specified domestic transaction] entered into with an associated enterprise is computed in relation to costs incurred or sales effected or assets employed or to be employed by the enterprise or having

DEV KUMAR ROY ,BANGALORE vs. INCOME TAX OFFICER WARD-3(1)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2012-13

TP Act, 1882 and GT Act, 1958 and a company can make a gift to another company, which is valid in law. Accordingly, we accept the legal capacity of the assessee company to gift its shares in RGF Gulf to Rh-IL Cayman.” 24. The Hon’ble Karnataka High Court in the case of CIT Vs. Nadatur Holdings and Investments

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Capital Gain by following completed contract method as assessee not involved in the construction and development activity and the AS-7 not applicable to the assessee as the assessee is not a contractor and the assessee’s revenue is to be recognized and governed by AS-9. ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Capital Gain by following completed contract method as assessee not involved in the construction and development activity and the AS-7 not applicable to the assessee as the assessee is not a contractor and the assessee’s revenue is to be recognized and governed by AS-9. ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Capital Gain by following completed contract method as assessee not involved in the construction and development activity and the AS-7 not applicable to the assessee as the assessee is not a contractor and the assessee’s revenue is to be recognized and governed by AS-9. ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore

GE MEDICAL SYSTEMS INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the revenue’s appeal is dismissed and the assessee’s appeal is partly allowed

Bench: Smt. P. Madhavi Devi & Shri Abraham P George

Method (CPM). In the absence of such adjustment, a mere application of CPM on comparables with different functional profile will not be in tune with the TP Rules. Therefore, as CPM is adopted as the MAM, the assessee should be allowed adjustment on actual basis, which will reliable and accurate, as stipulated in Rule 10C(2). Needless

DCIT, BANGALORE vs. M/S GE MEDICAL SYSTEM (I) (P) LIMITED, BANGALORE

In the result, the revenue’s appeal is dismissed and the assessee’s appeal is partly allowed

Bench: Smt. P. Madhavi Devi & Shri Abraham P George

Method (CPM). In the absence of such adjustment, a mere application of CPM on comparables with different functional profile will not be in tune with the TP Rules. Therefore, as CPM is adopted as the MAM, the assessee should be allowed adjustment on actual basis, which will reliable and accurate, as stipulated in Rule 10C(2). Needless

GE MEDICAL SYSTEMS INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the revenue’s appeal is dismissed and the assessee’s appeal is partly allowed

Bench: Smt. P. Madhavi Devi & Shri Abraham P George

Method (CPM). In the absence of such adjustment, a mere application of CPM on comparables with different functional profile will not be in tune with the TP Rules. Therefore, as CPM is adopted as the MAM, the assessee should be allowed adjustment on actual basis, which will reliable and accurate, as stipulated in Rule 10C(2). Needless

M/S UNITED BREWERIES LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

capital gain from the sale of shares and further erred in not adjudicating on this crucial issue by holding that this is academic in nature 7.5 The learned CIT(A) has erred in confirming the action of the AO in making the addition, by making a frivolous observation that there is nothing on record to show that the copy

M/S UB SPORTS MANAGEMENT OVERSEAS LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX(INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

In the result, the appeals filed by the assessees are partly allowed

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

capital gains (based on the assessed income) of Rs. 96,52,74,468/-. We shall adjudicate the above two issues as under: - Re-computation of arm's length price of shares sold by the assessee amounting to Rs. 262,27,80,021/- (Ground Nos. 1 to 14): 6. The brief facts in relation to the above issue are that

M/S PALMER INVESTMENT GROUP LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-2(1), BANGALORE

In the result, the appeals filed by the assessees are partly allowed

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

capital gains (based on the assessed income) of Rs. 96,52,74,468/-. We shall adjudicate the above two issues as under: - Re-computation of arm's length price of shares sold by the assessee amounting to Rs. 262,27,80,021/- (Ground Nos. 1 to 14): 6. The brief facts in relation to the above issue are that

DCIT, BANGALORE vs. M/S CISCO SYSTEMS INDIA PVT. LTD.,, BANGALORE

In the result, the Revenue’s appeal as well as Assessee’s appeal are partly allowed for statistical purposes

capital adjustment while computing operating margins for the Appellant vis-a-vis the com parables. Original Grounds: c. Grounds of appeal relating to other matters 16.The learned AO has erred in law and in facts by providing credit to the taxes deducted at source only to the extent of INR 8,01,53,278 as against

CISCO SYSTEMS (INDIA) PRIVATE LIMITED,BANGALORE vs. ASST.C.I.T., BANGALORE

In the result, the Revenue’s appeal as well as Assessee’s appeal are partly allowed for statistical purposes

capital adjustment while computing operating margins for the Appellant vis-a-vis the com parables. Original Grounds: c. Grounds of appeal relating to other matters 16.The learned AO has erred in law and in facts by providing credit to the taxes deducted at source only to the extent of INR 8,01,53,278 as against

DCIT, BANGALORE vs. M/S TATA COFFEE PVT. LTD.,, BANGALORE

In the result, the appeal of the assessee is partly allowed, while the appeal by the department is dismissed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

method ought to have been accepted as the MAM. We therefore set aside the order of the DRP insofar as it relates to the determination of the ALP of the international transactions and remit the issue to the AO/TPO for fresh consideration by applying CUP as the MAM. 12. The other grounds of appeal with regard to application of TNMM

TATA COFFEE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal of the assessee is partly allowed, while the appeal by the department is dismissed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

method ought to have been accepted as the MAM. We therefore set aside the order of the DRP insofar as it relates to the determination of the ALP of the international transactions and remit the issue to the AO/TPO for fresh consideration by applying CUP as the MAM. 12. The other grounds of appeal with regard to application of TNMM

TATA COFFEE LIMITED,BANGALORE vs. DCIT, BANGALORE

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

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

capital gains. 4. The assessee is engaged in the business of growing, curing of coffee and Tea and also manufacturing & marketing of value added coffee/tea products. It grows coffee in its own estates, processes the beans, exports green coffee, manufactures & exports “instant coffee”. The assessee also grows pepper and cardamom. 5. The first issue urged by the assessee relates

DCIT, BANGALORE vs. M/S TATA COFFEE LIMITED, BANGALORE

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

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

capital gains. 4. The assessee is engaged in the business of growing, curing of coffee and Tea and also manufacturing & marketing of value added coffee/tea products. It grows coffee in its own estates, processes the beans, exports green coffee, manufactures & exports “instant coffee”. The assessee also grows pepper and cardamom. 5. The first issue urged by the assessee relates

TATA COFFEE LIMITED,BANGALORE vs. DCIT, BANGALORE

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

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

capital gains. 4. The assessee is engaged in the business of growing, curing of coffee and Tea and also manufacturing & marketing of value added coffee/tea products. It grows coffee in its own estates, processes the beans, exports green coffee, manufactures & exports “instant coffee”. The assessee also grows pepper and cardamom. 5. The first issue urged by the assessee relates