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

Transfer Pricing Officer or any other authority;\n(e) records relating to the draft order;\n(f) evidence collected by, or caused to be collected by, it; and\n(g) result of any enquiry made by, or caused to be made by, it.\n(7) The Dispute Resolution Panel may, before issuing any directions referred to in sub-section

SAP INDIA PRIVATE LIMITED,BANGALORE vs. JURISDICTIONAL ASSESSING OFFICER - DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 6(1)(1), BANGALORE

The appeal of the assessee is allowed to the extent indicated above

Bench: Shri Prashant Maharishi & Shri Soundararajan K, Jm

41,195,410. Consequently, an order under section 92CA (3) of the Income-tax Act was passed. 07. Based on this, the draft assessment order under section 144C (1) of the Act was issued on 29 August 2023, incorporating a total transfer pricing adjustment of ₹1,855,008,610 and assessing the total income of the assessee

TUNGABHADRA PATTINA SOUHARDA SAHAKARI SANGHA NIYAMITHA,SINDHANUR vs. INCOME TAX OFFICER, WARD -1, RAICHUR

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

41 of 50 an electronic record is when it enters the computer resource outside the control of originator. Indisputedly, in this case, the ‘originator’ is the DRP. Sub-Section (za) of Section 2 of the I.T.Act defines the word ‘originator’ and reads thus: “Section 2: Definitions (za) ?originator means a person who sends, generates, stores or transmits any electronic message

THE KARNATAKA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANK,BENGALURU vs. THE INCOME TAX OFFICER, WARD-5(2)(1), BANGALORE

In the result, the appeals filed by the assessee stands partly\nallowed as indicated herinabove

Price (Rs.)\nFirst Party\nSecond Party\nStamp Duty Paid By\nStamp Duty Amount (Rs.)\nIN-KA62211732245533V\n06-Dec-2023 02:47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK

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

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

transfer pricing (“TP) order dated 30.10.2019 under section 92CA of the Act and has made the following adjustments: S Particulars Amount (Rs) No A International Transaction with Associated Enterprises (“AE”) 1. Management Fee 6,00,00,000 2. Payment of Royalty 2,55,70,901 B Specified Domestic Transaction 1. Sales promotion expenses paid to United

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 (“TP) order dated 30.10.2019 under section 92CA of the Act and has made the following adjustments: S Particulars Amount (Rs) No A International Transaction with Associated Enterprises (“AE”) 1. Management Fee 6,00,00,000 2. Payment of Royalty 2,55,70,901 B Specified Domestic Transaction 1. Sales promotion expenses paid to United

CONCUR TECHNOLOGIES (INDIA) PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 2(2)(1), BANGALORE

Appeal of the assessee is partly allowed as indicated above

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year : 2021-22

transfer pricing ("TP matter) 3. The learned TPO/ AO erred, in law and in facts, by rejecting comparable companies forming part of the TP study report as well as certain additional comparable companies as they do not appear in TPO's search matrix. 4. The learned TPO/ AO erred in law and in facts by not accepting the economic analysis

M/S. BHUWALKA STEEL INDUSTRIES LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(2), BANGALORE

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

Bench: Shri George George K & Shri Laxmi Prasad Sahu

Transfer Pricing Officer (TPO) and the Learned Assessing Officer (AO) has erred in selecting TNM Method for determining the Arm's Length Price (ALP) as against the CUP Method followed by the Company resulting in an illogical comparison of financial data. 3. Without prejudice to CUP Method selected by the Company, the Learned TPO erred in determining Arm's Length

M/S BHUWALKA STEEL INDUSTRIES LIMITED ,BANGALORE vs. INCOME TAX OFFICER WARD-1(1)(4), BANGALORE

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

Bench: Shri George George K & Shri Laxmi Prasad Sahu

Transfer Pricing Officer (TPO) and the Learned Assessing Officer (AO) has erred in selecting TNM Method for determining the Arm's Length Price (ALP) as against the CUP Method followed by the Company resulting in an illogical comparison of financial data. 3. Without prejudice to CUP Method selected by the Company, the Learned TPO erred in determining Arm's Length

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 (“TP) order dated 17.10.2018 under section 92CA of the Act and has made the following adjustments: IT(TP)A No.2532/Bang/2019 United Brewries Ltd., Bangalore Page 2 of 70 S No Particulars Amount (Rs) A International Transaction with Associated Enterprises (“AE”) 1. Management Fee 6,00,00,000 2. Brad promotion expenses paid to Force India

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

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

2: Initiation of penalty proceedings under section 270A of the Act On the facts and circumstances of the case and in law, the learned AO has erred in proposing to initiate penalty proceedings under section 270A of the Act for under-reporting of income. 3. Ground No. 3: Incorrect levy of interest under section 234A, 234B and 234C

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

sections after application of the ALP, in our view, is the Transfer pricing adjustment contemplated in sec.92 of the Act. 39.21 We have prepared certain illustrations in order to explain above points. They are given below:- There are two situations in which the profits of eligible business are inflated. They are (a) Over invoicing revenue (b) Under invoicing expenses

INCOME-TAX OFFICER, WARD-1 , BELLARY vs. M/S. SOUTH WEST MINING LIMITED, BELLARY

In the result, appeal of the revenue is dismissed and CO filed by the assessee is dismissed

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2011-12 Ito M/S. South West Mining Limited Aayakar Bhavan Staff Road Vidya Nagar Fort Bellary Near Talur Cross Karnataka Toranagallu Vs. Bellary 583 201 Karnataka Pan No : Aafcs9792M Appellant Respondent C.O. No.4/Bang/2023 (Arising Out Of Ita No.457/Bang/2023) Assessment Year: 2011-12 M/S. South West Mining Limited Ito Vs. Bellary 583 201 Ward-1 Karnataka Bellary Appellant Respondent Assessee By : Shri Rakesh Joshi, A.R. Revenue By : Ms. Neera Malhotra, D.R. Date Of Hearing : 20.12.2023 Date Of Pronouncement : 08.02.2024 O R D E R Per Chandra Poojari: This Appeal By Revenue & Co By Assessee Are Directed Against The Order Of Nfac For The Assessment Year 2011-12 Dated 21.4.2023 Passed U/S 250 Of The Income Tax Act, 1961 (In Short “The Act”). The Revenue In This Appeal Raised Following Ground: “Whether The Ld. Cit(A) Is Justified On The Facts Of The Case & In Law, In Deleting The Addition Of Rs.287.72 Crores Claimed Towards “Mine Development Expenditure” U/S 37(1) In The Computation Of Income Which Was Not Routed Through The Profit & Loss Account.”

transfer price from RERC was received only in October 2011. Only thereafter, the Assessee Company could begin its invoicing. Ultimately, the excavation charges was on an ad-hoc basis fixed at Rs 832.81/metric ton. During the relevant previous year, the Assessee Company had incurred an expenditure relating to removing/clearing the overburden amounting to Rs.294

DASA SHETTY KANTHA,BANGALORE vs. ACIT CIRCLE 6(3)(1), BANGALORE, BANGALORE

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

41,15,265/-\n\n22.\nThe above computed LTCG was offered by the assessee to tax in\nthe year under consideration.\n23.\nThe assessee during the assessment proceedings claimed that for\nmaking sale of flats, he incurred commission expenses and legal expense\nof Rs.5 lakhs and TDS on the payment of Rs.1.5 Lakh was also\ndeducted. Likewise, to make

M/S. TOYOTA TAUSHO INDIA PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(1)(1), BENGALURU

Accordingly, this ground is allowed for statistical purposes

Bench: Shri N.V Vasudevan & Shri Laxmi Prasad Sahu

section 92C and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one percent of the latter in respect of wholesale trading and three percent of the latter in all other cases, the price at which the international transaction or specified domestic transaction has actually been undertaken shall be deemed

DASA SHETTY KANTHA,BANGALORE vs. ACIT CIRCLE 3(2)(1), BANGALORE, BANGALORE

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

41,15,265/-\n\n22. The above computed LTCG was offered by the assessee to tax in\nthe year under consideration.\n\n23. The assessee during the assessment proceedings claimed that for\nmaking sale of flats, he incurred commission expenses and legal expense\nof Rs.5 lakhs and TDS on the payment of Rs.1.5 Lakh was also\ndeducted. Likewise, to make

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE- 1(1)(1), BANGALORE, BMTC BUILDING, KORAMANGALA, BAQNGALORE vs. BANGALORE ELECTRICITY SUPPLY COMPANY LIMITED , BESCOM CORPORATE OFFICE

In the result, the appeal by the assessee is partly allowed and appeal of the ld

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2017-18

prices but same is not paid to customers. However, these are bogus expenses, as assessee is bound by KERC rates. It was noted by him that this is one of the issues on the side of the liability. And there may be many such issues. As assessee failed to provide all the details, the learned that AO presumed that some

M/S. BANGALORE ELECTRICITY SUPPLY COMPANY LTD.,,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2), BANGALORE

In the result, the appeal by the assessee is partly allowed and appeal of the ld

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2017-18

prices but same is not paid to customers. However, these are bogus expenses, as assessee is bound by KERC rates. It was noted by him that this is one of the issues on the side of the liability. And there may be many such issues. As assessee failed to provide all the details, the learned that AO presumed that some

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

41[ten] per cent of the consideration received or accruing as a result of the transfer, the consideration so received or accruing as a result of the transfer shall, for the purposes of section 48, be deemed to be the full value of the consideration. (2) Without prejudice to the provisions of sub-section (1), where— (a) the assessee claims