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

4) r/w Section 143 (3) of the Act. d) Even though 30 days time was granted to file objections when the assessee approached the DRP, DRP itself declared that it is a final order.(Emphasis supplied) ........ 44. The materials available on record reveal that initially, vide proceedings dated 26.3.13, order of assessment u/s 143 (3) was passed by the Assessing

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

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

4 Larsen & Toubro lnfotech Ltd. 19.33 21.55 5 Mindtree Ltd. (seg) 14.83 14.89 16. The Ld.TPO thus computed the proposed adjustment at Rs.6,04,40,428/- being shortfall in arms length price. The Ld.TPO also worked out working capital adjustment at (-)0.61% to the average margin of the comparables. It has been submitted that the Ld.TPO while computing the shortfall

M/S. MUKKA PROTEINS LIMITED (FORMERLY KNOW AS MUKKA SEA FOOD INDUSTRIES LTD., ),MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALURU

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

price being inflated cannot be ruled out and there is no material to dislodge such finding. The issue is not whether the purchase price reflected in the books of account matches the purchase price stated to have been paid to other persons. The issue is whether the purchase price paid by the assessee is reflected as receipts by the recipients

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

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

DCIT, BANGALORE vs. M/S GE MEDICAL SYSTEM (I) (P) LIMITED, 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

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

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

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

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

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

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

Bench: Shri Inturi Rama Rao & Shri Laliet Kumar

4 conditions (a) to (d) stipulated in sub-section (3) are satisfied then, the assessing officer may proceed to determine the arm's length price in relation to the international transaction in accordance with the provisions of sub-section (1) and sub-section (2) of section 92C on the basis of such material or information or documents

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

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

M/S INFOSYS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BANGALORE

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

Bench: Shri Chandra Poojaria & Smt. Beena Pillaiassessment Appeal No. Appellant Respondent Year M/S. Infosys Ltd., The Assistant Electronic City, Commissioner It(Tp)A No. Hosur Road, Of Income Tax, 2012-13 718/Bang/2017 Bangalore – 560 Circle – 100. 3(1)(1), Pan: Bangalore. Aaaci4798L : Shri Padamchand Khincha, Assessee By Ca : Shri K.V. Arvind & Shri Dilip, Revenue By Standing Counsels For Dept. Date Of Hearing : 15-09-2022 Date Of Pronouncement : 28-11-2022 Order Per Beena Pillaipresent Appeal Arises Out Of Final Assessment Order Dated 28/02/2017 Passed By The Ld.Acit, Circle – 3(1)(1), Bangalore For A.Y. 2012-13 On Following Grounds Of Appeal: General & Legal Grounds 1. The Order Passed By The Learned Assessing Officer & The Directions Of Hon’Ble Drp To The Extent Prejudicial To The Appellant Is Bad In Law & Liable To Be Quashed. Grounds On Denial Of Deduction Claimed Under Section 10Aa In Respect Of 4 Sez Units Viz., Chennai – Unit 1, Chandigarh, Mangalore - Unit 1 & Pune Unit 1 2. The Learned Assessing Officer Has Erred In Denying Deduction Claimed Under Section 10Aa In The Return Of Income Totally Amounting To Rs. 2227,82,65,630 In Respect

transfer pricing adjustment is liable to be deleted in entirety. Grounds on disallowance under section 14A 10. The learned assessing officer has erred in computing disallowance of Rs. 3,30,96,246 under section Page 3 IT(TP)A No. 718/Bang/2017 14A of the Income tax Act, 1961 (“Act”) read with rule 8D(2)(iii) of the Income tax rules

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

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