BharatTax.net
SearchITATHigh CourtsSupreme CourtPhrasesAI ResearchHistory

Filters

BharatTax.net

Free search engine for ITAT (Income Tax Appellate Tribunal) judgments across all 28 benches in India.

Quick Links

  • Search Judgments
  • Browse by Bench
  • Recent Judgments

About

BharatTax provides free access to Income Tax Appellate Tribunal orders for legal research and reference.

© 2026 BharatTax.net. All rights reserved.

699 results for “transfer pricing”+ Section 57clear

Sorted by relevance

Delhi2,167Mumbai1,837Bangalore699Karnataka620Chennai395Ahmedabad310Hyderabad254Kolkata244Jaipur222Pune217Chandigarh184Cochin136Indore131Surat111Visakhapatnam65Rajkot58Lucknow55Calcutta55Telangana51SC38Raipur37Nagpur33Cuttack31Agra28Jodhpur16Dehradun14Amritsar13Ranchi8Varanasi5Allahabad4Guwahati4A.K. SIKRI ROHINTON FALI NARIMAN3Orissa3Rajasthan3Jabalpur2S.B. SINHA MARKANDEY KATJU1Andhra Pradesh1Punjab & Haryana1Panaji1A.K. SIKRI N.V. RAMANA1

Key Topics

Section 143(3)64Addition to Income63Section 153A35Section 153C35Section 14834Transfer Pricing33Section 92C28Disallowance28Comparables/TP

M/S. TRANSWORLD ICT SOLUTIONS (P) LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1307/BANG/2010[2004-05]Status: DisposedITAT Bangalore11 Mar 2022AY 2004-05

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

transfer pricing adjustment under section 92CA. 57. The DRP confirmed the order of the Tribunal. Before the Tribunal, the assessee

Showing 1–20 of 699 · Page 1 of 35

...
27
Section 133A26
Section 221
Section 14719

M/S. TRANSWORLD ICT SOLUTIONS (P) LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1306/BANG/2010[2003-04]Status: DisposedITAT Bangalore11 Mar 2022AY 2003-04

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

transfer pricing adjustment under section 92CA. 57. The DRP confirmed the order of the Tribunal. Before the Tribunal, the assessee

M/S. TRANSWORLD ICT SOLUTIONS (P) LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1308/BANG/2010[2005-06]Status: DisposedITAT Bangalore11 Mar 2022AY 2005-06

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

transfer pricing adjustment under section 92CA. 57. The DRP confirmed the order of the Tribunal. Before the Tribunal, the assessee

M/S. TRANSWORLD ICT SOLUTIONS (P) LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal for Assessment Year 2005-06 is partly allowed

ITA 1305/BANG/2010[2002-03]Status: DisposedITAT Bangalore11 Mar 2022AY 2002-03

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A Nos.1305 To 1308/Bang/2010 Assessment Years : 2002-03, 2003-04, 2004-05, 2005-06 Dcit, M/S. Transworld Ict Solutions Pvt. Ltd., Vs. No.15, Hoody, Whitefield Road, Central Circle – 2(1), Mahadevapura Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 3824 F Assessee Respondent Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Dilip, Advocate, Standing Counsel For Department Date Of Hearing : 03.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. G. S. Prashanth, CAFor Respondent: Shri. Dilip, Advocate, Standing Counsel for Department
Section 132Section 143(3)Section 153ASection 92C(2)

transfer pricing adjustment under section 92CA. 57. The DRP confirmed the order of the Tribunal. Before the Tribunal, the assessee

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

ITA 813/BANG/2019[2014-15]Status: DisposedITAT Bangalore02 Mar 2021AY 2014-15

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

For Appellant: Sri.Padamchand Khincha, CAFor Respondent: Smt.R.Premi, JCIT-DR
Section 191Section 194Section 201Section 201(1)Section 206ASection 4

57 ITR 185 (SC), CIT v. Periera & Sons Pvt Ltd 184 ITR 461 (Ker)]. However the event of ‘transfer’ should not be constructed to mean a completed event in context of section 194IA. If the term ‘transfer’ is inferred as a ‘completed event’ then one cannot give effect to the deduction from payments made prior to completion of transfer. Furthermore

MAPEI CONSTRUCTION PRODUCTS (INDIA) PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE-4(1)(2), BANGALORE

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

ITA 283/BANG/2021[2016-17]Status: DisposedITAT Bangalore01 Jun 2022AY 2016-17

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 283/Bang/2021 Assessment Year : 2016-17 M/S. Mapei Construction Products (India) Pvt. Ltd., The Assistant A01 & B01, Solus Jain Commissioner Of Heights, Income Tax, 1St Floor, 1St Cross, Circle 4 (1)(2), J C Road, Vs. Bangalore. Bangalore – 560 002. Pan: Aahcm0464A Appellant Respondent : Shri S. Ramasubramanyam, Assessee By Ca : Shri Janardhan, Addl. Cit Revenue By Dr Date Of Hearing : 04-03-2022 Date Of Pronouncement : 01-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Final Assessment Order Dated 24/03/2021 Passed By The Ld.Acit, Under National Assessment Centre, New Delhi, Under Section 143(3) Read With Section 143(3A) & (3B) Of The Act, For The Assessment Year 2016- 17 On Following Grounds Of Appeal: “1. Jurisdiction 1.1. That The Learned Lower Authorities Erred In Law & On Facts In Referring The Case To The Learned Transfer Pricing

For Respondent: Shri S. Ramasubramanyam
Section 115JSection 143Section 143(3)Section 40Section 92C

section 143(3A) and (3B) of the act, for the assessment year 2016- 17 on following grounds of appeal: “1. JURISDICTION 1.1. That the learned lower authorities erred in law and on facts in referring the case to the learned Transfer Pricing Page 2 of 22 IT(TP)A No. 283/Bang/2021 Officer (TPO) in violation of Instruction

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

In the result, appeal of the assessee is partly allowed

ITA 202/BANG/2021[2015-16]Status: DisposedITAT Bangalore26 Jul 2022AY 2015-16

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sit(Tp)A No.202/Bang/2021 Assessment Year :2015-16 M/S. Nike India Pvt.Ltd., Vs. Dcit, Ground & First Floor, Circle – 3(1)(1), Olympia Building, No.66/1, Bagmane Tech Bengaluru. Park, C. V. Raman Nagar, Bengaluru – 560 093. Pan : Aabcn 9612 K Appellant Respondent Assessee By : Shri. K. R. Vasudevan, Advocate Revenue By : Smt. Susan Dolores George, Cit(Osd)(Itat), Bengaluru. Date Of Hearing : 21.07.2022 Date Of Pronouncement : 26.07.2022 O R D E R Per N. V. Vasudevan:

For Appellant: Shri. K. R. Vasudevan, AdvocateFor Respondent: Smt. Susan Dolores George, CIT(OSD)(ITAT), Bengaluru
Section 144(3)Section 92C

transfer pricing adjustment of Rs.22.24 crores. The Ld DRP also confirmed the same. 19.3 The Ld A.R submitted that the assessee has furnished various evidences to prove that the sourcing agent has provided services to the assessee. He submitted that the assessee has utilized services of one USA entity and one Singapore entity. However, the assessee has paid commission only

CORP ATTIRE,BENGALURU vs. THE INCOME TAX OFFICER, WARD-5(3)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

ITA 202/BANG/2022[2019-20]Status: DisposedITAT Bangalore31 May 2022AY 2019-20

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sit(Tp)A No.202/Bang/2021 Assessment Year :2015-16 M/S. Nike India Pvt.Ltd., Vs. Dcit, Ground & First Floor, Circle – 3(1)(1), Olympia Building, No.66/1, Bagmane Tech Bengaluru. Park, C. V. Raman Nagar, Bengaluru – 560 093. Pan : Aabcn 9612 K Appellant Respondent Assessee By : Shri. K. R. Vasudevan, Advocate Revenue By : Smt. Susan Dolores George, Cit(Osd)(Itat), Bengaluru. Date Of Hearing : 21.07.2022 Date Of Pronouncement : 26.07.2022 O R D E R Per N. V. Vasudevan:

For Appellant: Shri. K. R. Vasudevan, AdvocateFor Respondent: Smt. Susan Dolores George, CIT(OSD)(ITAT), Bengaluru
Section 144(3)Section 92C

transfer pricing adjustment of Rs.22.24 crores. The Ld DRP also confirmed the same. 19.3 The Ld A.R submitted that the assessee has furnished various evidences to prove that the sourcing agent has provided services to the assessee. He submitted that the assessee has utilized services of one USA entity and one Singapore entity. However, the assessee has paid commission only

M/S. THE HIMALAYA DRUG COMPANY,BANGALORE vs. ASST. COMMISSIONER OF INCOME TAX, BANGALORE

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

ITA 2248/BANG/2016[2012-13]Status: DisposedITAT Bangalore02 Nov 2020AY 2012-13

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

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Shri Muzaffar Hussain, D.R
Section 143(3)Section 144C(1)Section 156

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

NIKE INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

ITA 330/BANG/2015[2010-11]Status: DisposedITAT Bangalore14 Oct 2020AY 2010-11

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

For Appellant: Shri N Venkatraman, K.R. Vasudevan, A.RFor Respondent: Smt. Neera Malhotra and Shri Muzaffar
Section 139Section 143(3)Section 148

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

M/S NIKE INDIA PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(1)(1), BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

ITA 3321/BANG/2018[2014-15]Status: DisposedITAT Bangalore14 Oct 2020AY 2014-15

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

For Appellant: Shri N Venkatraman, K.R. Vasudevan, A.RFor Respondent: Smt. Neera Malhotra and Shri Muzaffar
Section 139Section 143(3)Section 148

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

NIKE INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

ITA 804/BANG/2016[2011-12]Status: DisposedITAT Bangalore14 Oct 2020AY 2011-12

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

For Appellant: Shri N Venkatraman, K.R. Vasudevan, A.RFor Respondent: Smt. Neera Malhotra and Shri Muzaffar
Section 139Section 143(3)Section 148

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

M/S.NIKE INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

ITA 739/BANG/2017[2012-13]Status: DisposedITAT Bangalore14 Oct 2020AY 2012-13

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

For Appellant: Shri N Venkatraman, K.R. Vasudevan, A.RFor Respondent: Smt. Neera Malhotra and Shri Muzaffar
Section 139Section 143(3)Section 148

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

TATA POWER SOLAR SYSTEMS LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal filed by the assessee stands allowed on the legal issue

ITA 699/BANG/2016[2011-12]Status: DisposedITAT Bangalore30 Mar 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 548/Bang/2016 Assessment Year : 2011-12 M/S. Tata Power Solar The Deputy Systems Ltd., Commissioner Of 78, Electronic City, Income Tax, Hosur Road, Circle – 7(1)(1), Bangalore – 560 100. Bangalore. Vs. Pan: Aaact4660J Appellant Respondent & It(Tp)A No. 699/Bang/2016 Assessment Year : 2011-12 (By Assessee) Assessee By : Shri Kanchun Kaushal, Ca : Shri Manjunath Karkihalli, Revenue By Cit-Dr Date Of Hearing : 14-02-2022 Date Of Pronouncement : 30-03-2022 Order Per Beena Pillaipresent Cross Appeals By Assessee & Revenue Arises Out Of Final Assessment Order Dated 28.01.2016 Passed By The Ld.Dcit, Circle -7 (1)(1), Bangalore For Assessment Year 2011-12 On Following Grounds Of Appeal: It(Tp)A No. 548/Bang/2016 (Revenue’S Appeal): “1. The Directions Of The Dispute Resolution Panel Are Opposed To Law & Facts Of The Case.

For Appellant: Shri Kanchun Kaushal, CA
Section 144C

transfer pricing study; [corresponding to Ground 4 (a)] 9. That the learned Panel 'has erred in upholding the learned TPO's approach of upholding the arm's length value of the international transaction related to reimbursement of expenses as NIL; [corresponding to Ground 4 (b)] 10. That the learned AO/ learned Panel erred in bringing to tax the interest income

DCIT, BANGALORE vs. M/S TATA POWER SOLAR SYSTEMS LTD.,, BANGALORE

In the result, the appeal filed by the assessee stands allowed on the legal issue

ITA 548/BANG/2016[2011-12]Status: DisposedITAT Bangalore30 Mar 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 548/Bang/2016 Assessment Year : 2011-12 M/S. Tata Power Solar The Deputy Systems Ltd., Commissioner Of 78, Electronic City, Income Tax, Hosur Road, Circle – 7(1)(1), Bangalore – 560 100. Bangalore. Vs. Pan: Aaact4660J Appellant Respondent & It(Tp)A No. 699/Bang/2016 Assessment Year : 2011-12 (By Assessee) Assessee By : Shri Kanchun Kaushal, Ca : Shri Manjunath Karkihalli, Revenue By Cit-Dr Date Of Hearing : 14-02-2022 Date Of Pronouncement : 30-03-2022 Order Per Beena Pillaipresent Cross Appeals By Assessee & Revenue Arises Out Of Final Assessment Order Dated 28.01.2016 Passed By The Ld.Dcit, Circle -7 (1)(1), Bangalore For Assessment Year 2011-12 On Following Grounds Of Appeal: It(Tp)A No. 548/Bang/2016 (Revenue’S Appeal): “1. The Directions Of The Dispute Resolution Panel Are Opposed To Law & Facts Of The Case.

For Appellant: Shri Kanchun Kaushal, CA
Section 144C

transfer pricing study; [corresponding to Ground 4 (a)] 9. That the learned Panel 'has erred in upholding the learned TPO's approach of upholding the arm's length value of the international transaction related to reimbursement of expenses as NIL; [corresponding to Ground 4 (b)] 10. That the learned AO/ learned Panel erred in bringing to tax the interest income

THE HIMALAYA DRUG COMPANY,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX(OSD), CIRCLE-6(1)(1), BENGALURU

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

ITA 303/BANG/2021[2016-17]Status: DisposedITAT Bangalore22 Oct 2021AY 2016-17

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

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Shri Muzaffar Hussain, D.R
Section 143(3)

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

THE HIMALAYA DRUG COMPANY ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-6(2)(1), BANGALORE

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

ITA 3071/BANG/2018[2014-15]Status: DisposedITAT Bangalore07 Dec 2020AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B.R.Baskaran

For Appellant: ShriFor Respondent: Shri Pradeep Kumar, CIT-D.R
Section 143(3)

transfer pricing adjustment envisages the substitution of the price of such international transaction with the ALP. 54. Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine

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

ITA 517/BANG/2015[2010-11]Status: DisposedITAT Bangalore01 Apr 2021AY 2010-11

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

For Appellant: Shri Muzaffar Hussain, CIT (DR)For Respondent: Smt. Tanmayee Rajkumar
Section 10ASection 143Section 144CSection 144C(13)Section 194JSection 40Section 9(1)(iv)

57 the Page 43 of 55 IT(TP)A No.517 & 570/Bang/2015 assessee has filed the deduction under section 10B as not applicable. Thus, from perusal of return of assessment year 2008-09 it is evident that the assessee has not claimed any deduction under section 10B of the Act in respect of any of the three units of the assessee

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

ITA 129/BANG/2019[2014-15]Status: DisposedITAT Bangalore29 Mar 2022AY 2014-15

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

For Appellant: Shri. T. Suryanarayana, Senior AdvocateFor Respondent: Shri. Mudavathu Harish Chandra Naik, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 92

57 of 97 8 Thirdware Solution Ltd. 44.68 AVERAGE MARK-UP 29.40% Computation of arm’s length price by the TPO and the adjustment made: Arm’s Length Mean Mark-up 29.40% Operating Cost Rs.129,89,30,000/- Arm’s Length Price @129.40% of cost Rs.168,08,20,000/- Price Received Rs.1,38,06,40,000/- Shortfall being adjustment

NOVO NORDISK INDIA PRIVATE LIMITED vs. DCIT, BANGALORE

In the result the appeal of the Assessee is partly allowed

ITA 146/BANG/2015[2010-11]Status: DisposedITAT Bangalore30 Jul 2015AY 2010-11

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

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri R. Ravichandran, CIT-III (DR)
Section 143(3)Section 144CSection 92ASection 92E

Transfer Pricing Regulations.” 57. According to the learned DR this contradictory stand taken by the Assessee in the course of proceedings before TPO/DRP and now before the Tribunal, that there is no deemed international transaction of Manufacture according him has to be rejected. According to him the essential function performed by the Assessee was clearly Manufacturing for and on behalf