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

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

73,06,306 The TPO has made adjustment in respect of export of ayurvedic medicines and preparations. 5.1 The assessee submitted that it has followed pricing policy of cost plus 15% in respect of exports made to AEs. The assessee has selected Transactional Net Margin Method (TNMM) as most appropriate method and OP/OR as Profit Level Indicator. The assessee

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

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

Section 92B r.w.s. 92F(v) it does not necessarily require transfer or assigning of property or creating any right or interest in the property but even an arrangement, understanding or an action in concert having a bearing on the profit, income, losses or assets of the enterprises would fall in the term of international transaction. Since the TPO has considered

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

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

Section 92B r.w.s. 92F(v) it does not necessarily require transfer or assigning of property or creating any right or interest in the property but even an arrangement, understanding or an action in concert having a bearing on the profit, income, losses or assets of the enterprises would fall in the term of international transaction. Since the TPO has considered

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

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

Section 92B r.w.s. 92F(v) it does not necessarily require transfer or assigning of property or creating any right or interest in the property but even an arrangement, understanding or an action in concert having a bearing on the profit, income, losses or assets of the enterprises would fall in the term of international transaction. Since the TPO has considered

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

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

Section 92B r.w.s. 92F(v) it does not necessarily require transfer or assigning of property or creating any right or interest in the property but even an arrangement, understanding or an action in concert having a bearing on the profit, income, losses or assets of the enterprises would fall in the term of international transaction. Since the TPO has considered

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

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

Section 92B are described as an 'international transaction'. This might be only an illustrative list, but significantly it does not list AMP spending as one such transaction. 58. In Maruti Suzuki India Ltd. (supra) one of the submissions of the Revenue was: "The mere fact that the service or benefit has been provided by one party to the other would

M/S.SOFTTEK INDIA PVT LTD.,,BANGALORE vs. DCIT- CIRCLE-6(1)(2), BANGALORE

Bench: Shri Inturi Rama Rao & Shri Laliet Kumar

section 92C on the basis of such material or information or document available with him. After the Transfer Pricing Officer determines the arm's length price, it is incumbent upon him to send a copy of the order to the assessing officer and to the assessee. In the present case what has happened is that the Transfer Pricing Officer

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 144B of the Act. 3. The learned AO has erred in making an addition of Rs. 5,18,74,725 to the total income of the Appellant, without appreciating that the learned TPO vide order dated 16.04.2021 had reduced the transfer pricing adjustment to Rs. 4,94,73

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 (if any) should be restricted to the international transaction of the Assessee. The learned DR relied on the order of the DRP. 73. In this regard, we find that identical issue has been decided by the Tribunal in the case of Ika India Pvt. Ltd., (surpa) and the Tribunal held as follows: Continental Automotive Components India Pvt.Ltd

M/S. THE HIMALAYA DRUG COMPANY,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 6(2)(1), BENGALURU

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16

73,335 Export of semi-finished goods - Rs. 3,62,12,279 19. The assessee selected Transaction Net Margin Method (TNMM) as most appropriate method and also furnished segmental information of its financial results under following segments: - (a) Corporate activities (b) Pharma – Domestic (c) Animal Health - Domestic (d) Customer products - Domestic (e) Export – Associated Enterprises (f) Export – Deemed Associated Enterprises

BARRACUDA NETWORKS INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BANGALORE

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

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

Transfer of Shares in Tax Havens (like in the case of Vodafone etc.), if based on relevant facts, such substantial questions of law could be raised before the High Court under Section 260-A of the Act, the Courts could have embarked upon such exercise of framing and answering such substantial question of law. On the other hand, the appeals

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 order dated 29.01.2021 under section 92CA of the Act and concluded that the international transactions of the assessee were at arm’s length and no adjustment was warranted. As per Assessment Order: 3.3 The learned Assessing Officer passed the assessment order on 22.04.2021 and made the following disallowances / additions to the returned income of the assessee: Particulars Amount

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 order dated 29.01.2021 under section 92CA of the Act and concluded that the international transactions of the assessee were at arm’s length and no adjustment was warranted. As per Assessment Order: 3.3 The learned Assessing Officer passed the assessment order on 22.04.2021 and made the following disallowances / additions to the returned income of the assessee: Particulars Amount

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

Transfer Pricing order with the proposed adjustment, the Ld.AO passed draft assessment order on 24/03/2013 under section 144C(1) of the Act. In the draft assessment order so passed the Ld.AO:- • disallowed depreciation on computer software at Rs.7,46,162/- for non-deduction of TDS; • disallowed payments on which TDS was not deducted under section

CITRIX R & D INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 2(1)(1), BANGALORE

In the result, the appeal filed by the assessee stands allowed partly as indicated herein above

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 220/Bang/2021 Assessment Year : 2016-17 M/S. Citrix R&D India Pvt. Ltd., The Deputy Prestige Dynasty, Commissioner Of Ground Floor, Income Tax, 33/2, Ulsoor Road, Circle – 2(1)(1), Bangalore – 560042. Vs. Bangalore. Pan: Aabcn3639C Appellant Respondent Assessee By : Shri Sumit Khurana, Ca Revenue By : Shri M. Mathivanan, Cit-Dr Date Of Hearing : 04-07-2022 Date Of Pronouncement : 25-08-2022 Order Per Beena Pillaipresent Appeal By The Assessee Has Been Filed By Assessee Against The Assessment Order Dated 30/03/2021 Passed By The National E-Assessment Centre, Delhi Relating To Assessment Year 2016-17 On Following Grounds Of Appeal: “The Grounds Mentioned Herein By The Appellant Are Without Prejudice To One Another. 1. That The Order Passed By The Learned Ao To The Extent Prejudicial To The Appellant, Is Bad In Law & Liable To Be Quashed. Transfer Pricing - 2. That The National E-Assessment Centre, Delhi / Deputy Commissioner Of Income Tax, Circle 2(1)(1), Bangalore ("Assessing Officer" Or "Learned Ao") & The Dispute Resolution Panel - 1 ("Learned Panel" Or "Learned Drp")

Section 92CA of the Income- tax Act, 1961, the case was referred to the Transfer Pricing Officer in order to determine the Arm's Length Price after obtaining necessary approval. The Ld.TPO observed that the assessee had following international transaction with its AE for the year under consideration: Sl. Particulars Amount (in INR) No 1. Provision for software 353,73

DCIT, BANGALORE vs. M/S U.L. INDIA PVT. LTD.,, BANGALORE

In the result, appeal of the Assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.574/Bang/2015 Assessment Year : 2010-11 M/S. Ul India Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, Kalyani Platina – Block I, 3Rd Floor, 24, Epip Circle -7(1)(1), Zone, Phase – 2Nd, Whitefield, Bengaluru. Bengaluru – 560 066. Pan : Aaacu 2468 F Appellant Respondent It(Tp)A No.378/Bang/2015 Assessment Year : 2010-11 The Deputy Commissioner Of Income Tax, Vs. M/S. Ul India Pvt. Ltd., Circle -7(1)(1), Bengaluru – 560 066. Bengaluru. Pan : Aaacu 2468 F Appellant Respondent C.O.No.127/Bang/2015 (In It(Tp)A No.378/Bang/2015) Assessment Year : 2010-11 The Deputy Commissioner Of Income Tax, Vs. M/S. Ul India Pvt. Ltd., Circle -7(1)(1), Bengaluru – 560 066. Bengaluru. Pan : Aaacu 2468 F Cross Objector Respondent It(Tp)A No.655/Bang/2016 Assessment Year : 2011-12 M/S. Ul India Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, Bengaluru – 560 066. Circle -7(1)(1), Pan : Aaacu 2468 F Bengaluru. Appellant Respondent

transfer pricing order. This ground of appeal is accordingly allowed." 25. Accordingly we direct the AO/TPO to correctly work out the PLI of the final comparables after giving due adjustment for the working capital on actual basis. Related ground of the assessee is therefore allowed.” Respectfully following the aforesaid decision, we hold that the working capital adjustment

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

In the result, appeal of the Assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.574/Bang/2015 Assessment Year : 2010-11 M/S. Ul India Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, Kalyani Platina – Block I, 3Rd Floor, 24, Epip Circle -7(1)(1), Zone, Phase – 2Nd, Whitefield, Bengaluru. Bengaluru – 560 066. Pan : Aaacu 2468 F Appellant Respondent It(Tp)A No.378/Bang/2015 Assessment Year : 2010-11 The Deputy Commissioner Of Income Tax, Vs. M/S. Ul India Pvt. Ltd., Circle -7(1)(1), Bengaluru – 560 066. Bengaluru. Pan : Aaacu 2468 F Appellant Respondent C.O.No.127/Bang/2015 (In It(Tp)A No.378/Bang/2015) Assessment Year : 2010-11 The Deputy Commissioner Of Income Tax, Vs. M/S. Ul India Pvt. Ltd., Circle -7(1)(1), Bengaluru – 560 066. Bengaluru. Pan : Aaacu 2468 F Cross Objector Respondent It(Tp)A No.655/Bang/2016 Assessment Year : 2011-12 M/S. Ul India Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, Bengaluru – 560 066. Circle -7(1)(1), Pan : Aaacu 2468 F Bengaluru. Appellant Respondent

transfer pricing order. This ground of appeal is accordingly allowed." 25. Accordingly we direct the AO/TPO to correctly work out the PLI of the final comparables after giving due adjustment for the working capital on actual basis. Related ground of the assessee is therefore allowed.” Respectfully following the aforesaid decision, we hold that the working capital adjustment

UL INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, appeal of the Assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.574/Bang/2015 Assessment Year : 2010-11 M/S. Ul India Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, Kalyani Platina – Block I, 3Rd Floor, 24, Epip Circle -7(1)(1), Zone, Phase – 2Nd, Whitefield, Bengaluru. Bengaluru – 560 066. Pan : Aaacu 2468 F Appellant Respondent It(Tp)A No.378/Bang/2015 Assessment Year : 2010-11 The Deputy Commissioner Of Income Tax, Vs. M/S. Ul India Pvt. Ltd., Circle -7(1)(1), Bengaluru – 560 066. Bengaluru. Pan : Aaacu 2468 F Appellant Respondent C.O.No.127/Bang/2015 (In It(Tp)A No.378/Bang/2015) Assessment Year : 2010-11 The Deputy Commissioner Of Income Tax, Vs. M/S. Ul India Pvt. Ltd., Circle -7(1)(1), Bengaluru – 560 066. Bengaluru. Pan : Aaacu 2468 F Cross Objector Respondent It(Tp)A No.655/Bang/2016 Assessment Year : 2011-12 M/S. Ul India Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, Bengaluru – 560 066. Circle -7(1)(1), Pan : Aaacu 2468 F Bengaluru. Appellant Respondent

transfer pricing order. This ground of appeal is accordingly allowed." 25. Accordingly we direct the AO/TPO to correctly work out the PLI of the final comparables after giving due adjustment for the working capital on actual basis. Related ground of the assessee is therefore allowed.” Respectfully following the aforesaid decision, we hold that the working capital adjustment

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

73,56,980/-. During the assessment proceedings u/s 143(3) of the Act, the AO noticed that the assessee had entered into international transactions with its Associated Enterprises (AE) and therefore referred the matter to the Transfer Pricing Officer (TPO) for determination of the ALP u/s 92CA of the Act. Further, while examining the assessee’s claim of deduction