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

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

transfer pricing analysis. The basis for the costs incurred, the activities for which they were incurred, and the benefit accruing to the Taxpayer from those activities must all be proved to determine first, whether, and how much, of such expenditure was for the purpose of benefit of the Taxpayer, and secondly, whether that amount meets ALP criterion. In the present

M/S. UNITED BREWERIES LIMITED,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE-7, BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

transfer pricing provision and not while allowability of business expense u/s 37(1). It is well known fact that companies use sports event as a platform to advertise their range of products as it has a very high viewership. Any such incurring of expenditure is ostensibly for promotion of business only and hence, no disallowance is called for. Accordingly, Grounds

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

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

2)(iii) of the I.T. Rules @ 0.5% of average value of investments. Ld. DRP restored the matter to the file of A.O. with the direction to examine this issue afresh by considering the decision rendered by ITAT in the case of Syndicate Bank, by Hon’ble Bombay High Court in the case of Godrej &Boyce Manufacturing Company

DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), CIRLCE - 1(1), BENGALURU vs. APPLIED MATERIALS INDIA PRIVATE LIMITED, BENGALURU

In the result, all these 4 appeals filed by the Revenue are dismissed

transfer pricing exercise)\ncannot negate the nature of the transaction. It would lead to an\nabsurd conclusion if, all else constant, the fact that no payment is\ndemanded negates accrual of income to the overseas entity. ......\n\n\".......The nomenclature or lesser-than-expected amount charged\nfor such services cannot change the nature of the services.\nIndeed, once

DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), CIRCLE-1(1), BENGALURU vs. APPLIED MATERIALS INDIA PRIVATE LIMITED, BENGALURU

In the result, all these 4 appeals filed by the Revenue are dismissed

transfer pricing exercise)\ncannot negate the nature of the transaction. It would lead to an\nabsurd conclusion if, all else constant, the fact that no payment is\ndemanded negates accrual of income to the overseas entity. ......"\n\".......The nomenclature or lesser-than-expected amount charged\nfor such services cannot change the nature of the services.\nIndeed, once it is established

DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), CIRCLE - 1(1), BENGALURU vs. APPLIED MATERIALS INDIA PRIVATE LIMITED, BENGALURU

In the result, all these 4 appeals filed by the Revenue are dismissed

transfer pricing exercise)\ncannot negate the nature of the transaction. It would lead to an\nabsurd conclusion if, all else constant, the fact that no payment is\ndemanded negates accrual of income to the overseas entity. ......\n\n\".......The nomenclature or lesser-than-expected amount charged\nfor such services cannot change the nature of the services.\nIndeed, once

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. ACIT, SPECIAL RANGE-3, BANGALORE

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

transfers his goods to another trader at a price less than the market price and the transaction is a bona fide one, the taxing authority cannot take into account the market price of those goods, ignoring the real price fetched to ascertain the profit from the transaction. The Hon'ble Court explained that the only exception was if Section

M/S GOOGLE INDIA PRIVATE LIMITED ,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX SPECIAL RANGE-3 , BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

DCIT, BANGALORE vs. M/S GOOGLE INDIA PVT. LTD.,, BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

MS GOOGLE INDIA PVT LTD,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(2), BENGALURU

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

DCIT, BANGALORE vs. M/S GOOGLE INDIA PVT. LTD.,, BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

M/S. GOOGLE INDIA PRIVATE LIMITED,BANGALORE vs. THE JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE-3, BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

GOOGLE INDIA PVT. LTD. vs. DCIT, BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

GOOGLE INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

M/S. GOOGLE INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(2), BANGALORE

In the result, the appeals filed by assessee for the years under consideration are disposed of as under:

Bench: Shri Chandra Poojari & Smt. Beena Pillai

2. Erred in rejecting the use of multiple year data and using single year data of the comparable companies to determine the arm's length price of the international transactions without appreciating the fact that the same was not available to the Appellant at the time of complying with the transfer pricing documentation requirements. Selection of companies earning super normal

KIRLOSKAR TOYOTA TEXTILE MACHINERY PRIVATE LIMITED,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(1), BANGALORE

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

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

section 92C, the arm's length price in relation to an international transaction [or a specified domestic transaction] shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely :- (a)**** (e) transactional net margin method, by which – (i) the net profit margin realised by the enterprise from an international transaction

KENNAMETAL INDIA LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(3)(1), BANGALORE

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

Section 92B of the Act. b. Erred in not appreciating the fact that the Act provides for taxing only real income whether received or accrued under the normal provisions. c. Erred in not appreciating the fact that transfer pricing adjustment cannot be made on a hypothetical and notional basis unless there is material on record that there has been under

M/S. SHINDENGEN INDIA PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 6(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan, Vice- & Ms. Padmavathy Sit(Tp)A No. 2514/Bang/2019 Assessment Year : 2015-16 M/S. Shindengen India Pvt. Ltd., Plot No. 283/2, Bommasandra, The Deputy Jigani Link Road, Commissioner Of Jigani Industrial Area, Income Tax, Anekal Taluk, Circle – 6(1)(1), Bengaluru – 560 105. Bengaluru. Vs. Pan: Aarcs8947E Appellant Respondent Assessee By : Smt. Shashi M Kapila, Advocate Revenue By : Ms. Neera Malhotra, Cit-Dr Date Of Hearing : 14-02-2023 Date Of Pronouncement : 28-02-2023 Order Per Padmavathy S

195(Del-Trib) has held that insisting on daily balances of working capital requirements to compute working capital adjustment is not proper as it will be impossible to carry out such exercise and that working capital adjustment has to be based on the opening and closing working capital deployed. The Bench has also observed that that in Transfer Pricing Anal