DCIT, BANGALORE vs. M/S CORE OBJECTS INDIA PVT. LTD.,, BANGALORE

In the result appeal filed by assessee stands allowed as indicated hereinabove and appeal filed by revenue stands allowed partly

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.517/Bang/2015 Assessment Year : 2010-11

120 Taxmann.com 264, following the above decision by Hon’ble Supreme Court has held as under: “6. We have considered the submissions made by the learned counsel for the parties and have perused the record. Before proceeding further, it is apposite to take note of the relevant statutory provisions namely section 10B(i), 10B(5), 10B(6)(ii), and section

MFX INFOTECH PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 4(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S.It(Tp)A No. 251/Bang/2021 (Assessment Year: 2016-17)

section 92C, the arm's length price in relation to an international transaction [or a specified domestic transaction] shall be determined by . M/s. MFX Infotech Pvt. Ltd 26 any of the following methods, being the most appropriate method, in the following manner, namely :— (a) to (d)….. (e) transactional net margin method, by which,— (i) the net profit margin realised

M/S. ACER INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, both the appeals of the assessee are partly allowed

Bench: Shri B.R Baskaran & Shri Pavan Kumar Gadale

b) "eligible assessee" means,— (i) any person in whose case the variation referred to in sub-section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company. 6. It is not in dispute that the Assessee is an eligible Assessee and therefore the Assessment

M/S CONTINENTAL AUTOMOTIVE COMPONENTS INDIA PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BANGALORE

In the result, the appeal is partly allowed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year :2014-15 M/S. Continental Automotive Vs. Dcit, Components India Pvt. Ltd., Circle – 2(1)(1), Plot No.53B, Bommasandra Industrial Bengaluru. Area, Hosur Road, Attibele Hobli, Anekal Taluk, Bengaluru–560 099. Pan : Aakcs 9578 C Appellant Respondent Assessee By : Shri. T. Suryanarayana, Senior Advocate Revenue By : Shri. Mudavathu Harish Chandra Naik, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 21.03.2022 Date Of Pronouncement : 29.03.2022 O R D E R

transfer pricing adjustment 26,39,21,336 restricted to percentage of international transactions Relief from original adjustment 90,96,29,854 The above plea was not accepted by the TPO. No specific discussion is there on this issue in the order of the TPO. 18B. Aggrieved by the aforesaid determination of ALP by the TPO in the draft order

M/S. NTT DATA GLOBAL SERVICES PRIVATE LIMITED,BANGALORE vs. THE JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE- 5, BANGALORE

Section 92CA(1) to the Transfer Pricing Officer (TPO) for the determination of Arm's Length Price (ALP) of the international transactions. The TPO noted that as per the Transfer Pricing (TP) documents furnished for the Assessment Year 2015-2016, the Assessee had entered into the following International Transactions with its AEs: International Transactions as per 3CEB Particulars Received/ Receivables

ACER INDIA PVT LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU

In the result, the grounds relating to T

Bench: Shri B.R Baskaran & Shri Pavan Kumar Gadale

4) Mattel Toys India Pvt. Ltd., v. DOlT in ITA No.2476/Mum/2008. The Id. DR placed reliance upon the order of the AO and the DRP. 16. Having heard the rival submissions and from a careful perusal of the record, we find that undisputedly the assessee is a trading company and carries out distribution and marketing of products of AOS group

INMOBI TECHNOLOGY SERVICES PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE3(1)(1), BANGALORE

section 142[1], either the Assessing Officer or the Prescribed Income- tax Authority, as the case may be, if, it is considered necessary or expedient to ensure that an assessee has not understated the income or has not computed excessive loss or has not underpaid tax in any manner, shall serve on the assessee a notice for attendance or production

GOLDMAN SACHS SERVICES PRIVATE LIMITED,BANGALORE vs. DCIT, CIRCLE 3(1)(1), BANGALORE

Bench: MS. PADMAVATHY S., ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 144C(5) of the Act. The TPO revised the TP Addition in respect of ECB from INR.75,39,13,371 to INR.62,88,86,271/- vide order dated 22/01/2024. Thereafter, the Assessing Officer passed final Assessment Order, dated 24/10/2024, making Transfer Pricing Addition of INR.62,88,86,271/- in respect of interest on ECB. 6. Being /aggrieved, the Assessee

BASHEER NOORULLAH KHAN,BANGALORE vs. COMMISSIONER OF INCOME TAX (APPEALS), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2013-14 Shri Basheer Noorullah Khan, No. 116B, 5Th Block, Khb The Commissioner Of Colony, Koramangala, Vs. Income Tax (Appeals), Bangalore – 560 034. Bangalore. Pan: Ajxpk3037H Appellant Respondent Assessee By : Shri B.S. Balachandran, Advocate Revenue By : Dr. P.V. Pradeep Kumar, Addl. Cit (Dr) Date Of Hearing : 11.07.2019 Date Of Pronouncement : 31.07.2019

120 ITR 46 wherein it was held that the word ‘purchase’ occurring in section 54(1) of the IT Act had to be given its common meaning, viz., buy for a price or equivalent of price by Page 6 of 9 payment in kind or adjustment towards a debt or for other monetary consideration. The Hon’ble Delhi High Court

AMD INDIA PVT. LTD.,,BANGALORE vs. ITO,

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

Bench: Shri N.V. Vasudevan & Shri Abraham P. George

b) select 17 new companies and proposed to compare the same with the Appellant; c) determine the arm’s length margin of 32.07% (working capital adjustment not provided); and d) proposed a transfer pricing adjustment to the international transactions to the tune of Rs 126,991,063. IT(TP)A Nos.437 & 457/Bang/2015 Page 10 of 54 12. In response

ITO vs. M/S AAMD INDIA PVT. LTD.,,

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

Bench: Shri N.V. Vasudevan & Shri Abraham P. George

b) select 17 new companies and proposed to compare the same with the Appellant; c) determine the arm’s length margin of 32.07% (working capital adjustment not provided); and d) proposed a transfer pricing adjustment to the international transactions to the tune of Rs 126,991,063. IT(TP)A Nos.437 & 457/Bang/2015 Page 10 of 54 12. In response

M/S QUICKLOGIC SOFTWARE (INDIA) PVT. LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BENGALURU

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

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 181/Bang/2022 Assessment Year : 2017-18 M/S. Quicklogic Software (India) Pvt. Ltd., No. 10 Brindavan, The Deputy 3Rd Floor, Commissioner Of Yashoda Nagar Main Income Tax, Road, Circle 3(1)(1), Jakkur Plantation, Vs. Bangalore. Bengaluru – 560 064. Pan: Aaacq0656P Appellant Respondent Assessee By : Shri Mahaveer C Jain, Ca : Shri Sumer Singh Meena Cit Revenue By Dr Date Of Hearing : 12-07-2022 Date Of Pronouncement : 27-07-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 25/01/2022 By The National Faceless Assessment Centre For A.Y. 2017-18 On Following Revised Grounds Of Appeal:

transfer pricing adjustment, on account of interest income short charged or uncharged. It was argued that insertion of Explanation with retrospective effect covers assessment year under consideration and hence under/non-payment of interest by AEs on debt arising during course of business becomes international transactions, calling for computing its ALP. He referred to decision of Hon’ble Delhi Tribunal in Ameriprise

M/S. WIELAND METALS INDIA PRIVATE LIMITED,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, WARD- 7(1)(3), BANGALORE

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

Bench: Shri Chandra Poojari & Shri George George K.

Transfer Pricing Officer in rejecting the method adopted, or canvassed, by the assessee is the fact that the assessee has incurred loss in the relevant previous year, but, in our humble understanding, such a consideration is wholly irrelevant. The Transactional Net Margin Method, on a conceptual note, is described as one of the method of last resort

M/S STERLING COMMERCE PVT. LTD.,BANGALORE vs. DCIT, BANGALORE

In the result this ground raised by assessee stands allowed

Bench: Shri B.R.Baskaran & Smt Beena Pillaiit(Tp)A No.1220(Bang)/2011 (Assessment Year : 2007-08) M/S Sterling Commerce Solutions India Pvt.Ltd., (Successor In Interest To Telelogic India Pvt.Ltd) C/O Ibm India Pvt.Ltd,, Iii Floor, Subramanya Arcade, 12, Bannerghatta Road, Bangalore-560 029 Pan No.Aabct3727D/Ta-158 Appellant Vs The Deputy Commissioner Of Income Tax, Circle-12(4) Bangalore Respondent Appellant By : Sri Padamchand Khincha, Ca Revenue By : Shri Pradeep Kumar, Cit

4. Erroneous data used by the AO/TPO a) The AO/TPO has erred in law in using data, which was not contemporaneous and which was not available in the public domain at the time of conducting the transfer pricing study by the Appellant. b) The AO/TPO erred in law in not applying the multiple-year data while computing the margin

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

price bargained for by the parties to the transaction. It has been further held that the consideration for the transfer of a capital asset is what the transferor receives in lieu of the assets he parts with, viz., money or money's worth, and, therefore, the very asset transferred or parted with cannot be the consideration for the transfer

M/S. OCWEN FINANCIAL SOLUTIONS PRIVATE LIMITED,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE - 5, BANGALORE

In the result appeal filed by the assessee stands partly allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 2411/Bang/2019 Assessment Year : 2015-16 M/S. Ocwen Financial Solutions Pvt. Ltd., Pritech Park, Block 12, The Joint Commissioner Unit 2, 5B & 6A Floors, Of Income-Tax, Bellandur Village, Special Range-5, Sarjapur Marathahalli Bangalore. Ring Road, Vs. Bangalore – 560 103. Pan: Aaaco3764E Appellant Respondent : Shri K.R. Vasudevan & Assessee By Ms. Rashmi, Advocates : Dr. Manjunath Karkihalli, Revenue By Cit-Dr Date Of Hearing : 02-03-2022 Date Of Pronouncement : 13-05-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against The Final Assessment Order Dated 24/09/2019 Passed By The Ld.Jcit, Special Range-5, Bangalore Under Section 143 (3) R.W.S 144C (13) Of The Act, For Assessment Year 2015-16 On Following Grounds Of Appeal: “I. Transfer Pricing The Grounds Mentioned Hereinafter Are Without Prejudice To One Another.

Transfer Pricing ("TP") document maintained by the Appellant by invoking provisions of sub-section (3) of section 92C of the Act. 3. The learned AO/ learned TPO/ Hon'ble DRP erred in rejecting comparability analysis undertaken in the TP documentation and in conducting a fresh comparability analysis by adopting various filters for the purpose of determining the Arm's Length

NABHIRAJ RATNA BALRAJ BY LEGAL HEIR B.R.RAKESH,BANGALORE vs. INCOME-TAX OFFICER, WARD-7(2)(1), BANGALORE

In the result the appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2016-17

4) of section 43CA of the Act, the Tribunal has in the following cases held that in a case where the date of agreement for transfer is different from the date of transfer, the stamp duty value as on the date of agreement and not the stamp duty value as on the date of transfer is to be considered

M/S. METRICSTREAM INFOTECH (INDIA) PRIVATE LIMITED,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(1)(2), BANGALORE

In the result appeal filed by assessee stands allowed as indicated hereinabove

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiit(Tp)A No.2347/Bang/2019 Assessment Year : 2015 – 16

transfer pricing adjustment, on account of interest income short charged or uncharged. It was argued that insertion of Explanation with retrospective effect covers assessment year under consideration and hence under/non-payment of interest by AEs on debt arising during course of business becomes international transactions, calling for computing its ALP. He referred to decision of Delhi Tribunal in Ameriprise (supra