M/S JSK INTERNATIONAL,BADDI vs. PR. CIT, SHIMLA

The appeal of the Assessee is Allowed

11. To deliberate on the issue the Circular No. 3/2003 dt. 20/05/2003, Instruction No. 15/2015 dt. 16/10/2015 and Instruction No. 3/2016 dt. 10/03/2016 needs to be examined in detail. Instruction No. 3 was issued on 20th May, 2003 to provide guidance to the Transfer Pricing Officers (TPOs) and the Assessing Officers (AOs) to operationalise the transfer pricing provisions

SH. JAI RAM,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

price is paid and the deed is delivered . In the percent case, from the statement of case itself as drawn up by the Tribunal, it is apparent that the parties had clearly intended that despite the execution and registration of sale deeds, transfer by way of sale will become effective only on payment of the entire consideration amount

SH. AMAR SINGH,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

price is paid and the deed is delivered . In the percent case, from the statement of case itself as drawn up by the Tribunal, it is apparent that the parties had clearly intended that despite the execution and registration of sale deeds, transfer by way of sale will become effective only on payment of the entire consideration amount

SARASWATI AGRO CHEMICALS (INDIA) PVT. LTD,MOHALI vs. DCIT, CIRCLE-6(1), MOHALI

In the result, the transfer pricing adjustment so made by the AO and confirmed by the ld CIT(A) amounting to Rs 89,22,420/- is hereby set-aside and the ground of appeal is allowed

Bench: Or At The Time Of Hearing.”

4. Being aggrieved, the Assessee carried the matter in appeal before the Ld. CIT(A) who has sustained the said Transfer Pricing adjustment and the relevant findings of the ld CIT(A) read as under: “6.2 In this grounds of appeal the appellant has contested the addition of Rs. 89,22,440/- on account of difference in Arms Length Price

MAXPORT INDIA PRIVATE LIMITED,CHANDIGARH vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,CHANDIGARH, CHANDIGARH

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions

SCOTT EDIL ADVANCE RESEARCH LABORATORIES AND EDUCATION LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions

M/S NECTAR LIFESCIENCE LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, appeal of the assessee is allowed

4 (CAS-4) issued by the Council of the Institute of Cost and Works Accountants of India on "Cost of Production for Captive Consumption". Since, Statement of cost of production of steam manufactured during the period 01-04-2014 to 31.03.2015 is based on assumption provided by management, it does not stand the test of authenticity. The details of actual

SCOTT EDIL ADVANCE RESEARCH LABORATORIES AND EDUCATION LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions

SCOTT EDIL PHARMACIA LTD.,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

SHRI BALRAM KRISHAN,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

SANJEEV AGGARWAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions

SHRI BALRAM KRISHAN,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

SCOTT EDIL ADVANCE RESEARCH LABORATORIES AND EDUCATION LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions

SCOTT EDIL ADVANCE RESEARCH LABORATORIES AND EDUCATION LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions

SCOTT EDIL PHARMACIA LTD.,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

MAXPORT INDIA PRIVATE LIMITED,CHANDIGARH vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,CHANDIGARH, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

SHRI BALRAM KRISHAN,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

DCIT, CC 1, CHANDIGARH , CHANDIGARH vs. SANJEEV AGGARWAL , CHANDIGARH

The appeals of the revenue are treated as dismissed

transferred to give effect to commercial transactions\nshould be kept outside the ambit of s.2(22)(e). He in this respect has placed reliance upon\nthe following case laws:\na. Pradip Kumar Malhotra V. CIT [2001] 338 ITR 538 (Cal HC).\nb. DCIT vs. Lakra Brothers, 2007, 106 TTJ 0250, Chandigarh ITAT.\nc. Bagmane Constructions