ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

10B shall be of the undertaking located in\n\n- 38 -\nITA Nos.1193, 1194, 1205 to 1207,\n1262 to 1266/CHNY/2024\n\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

10B shall be of the undertaking located in\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision.”\n17. If the specific provisions of the Act provide [first proviso to\nSections

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

10B shall be of the undertaking located in\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision.”\n17. If the specific provisions of the Act provide [first proviso to\nSections

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1), CHENNAI

10B shall be of the undertaking located in\n\n- 38 -\nITA Nos.1193, 1194, 1205 to 1207,\n1262 to 1266/CHNY/2024\n\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1), CHENNAI

10B shall be of the undertaking located in\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision.”\n17. If the specific provisions of the Act provide [first proviso to\nSections

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1), CHENNAI

10B shall be of the undertaking located in\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision.”\n17. If the specific provisions of the Act provide [first proviso to\nSections

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

10B shall be of the undertaking located in\nspecified zones or 100% Export Oriented Undertakings, as the\ncase may be, and this shall not have any material relationship\nwith the other business of the assessee outside these zones or units\nfor the purposes of this provision.”\n17. If the specific provisions of the Act provide [first proviso to\nSections

TITAN COMPANY LIMITED,HOSUR vs. ASSISTANT COMMISSIONER OF INCOME TAX - LTU 2 (IC), CHENNAI

In the result the appeal raised by the assessee is partly allowed

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

10B etc. of the Act, the same shall be allowed in computing the total income of the assessee." On perusal of the said circular, it is noted that the said circular is in the context of Section 10A/10B of the Act. It does not discuss the implications of the deeming provisions laid down in the Section

FAIVELEY TRANSPORT TECHNOLOGIES INDIA PVT. LTD.,HOSUR vs. ACIT, CORPORATE CIRCLE-1(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: SHRI MANU KUMAR GIRI (Judicial Member), SHRI S.R. RAGHUNATHA (Accountant Member)

gains derived from business carried on at the Baddi unit. The Assessee's case was selected for complete scrutiny assessment under CASS wherein one of the issues which needed further clarification and detailed verification was the deduction claimed for industrial undertaking under section 80-IC of the Act. During the course of assessment proceedings, the Revenue vide notice dated

LOTUS FOOTWEAR ENTERPRISES LIMITED-INDIA BRANCH,TIRUVANNAMALAI vs. DCIT, INTERNATIONAL TAX 1(2), CHENNAI

In the result all the four appeals of the assessee are allowed

Bench: Shri Aby T Varkey & Shri S. R. Raghunatha

gains on such reasonable basis as he may deem fit. Explanation.— For the purposes of this sub-section, "market value", in relation to any goods or services, means— (i) the price that such goods or services would ordinarily fetch in the open market; or (ii) the arm's length price as defined in clause (ii) of section 92F, where

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital gains, the condition,‘transfer’ of the asset has taken place. 5. The Id. CIT(A) has erred in deleting the disallowance made in the computation of ‘Book Profits’ made u/s.115JB of the Act of the amount of expenditure disallowed u/s.14A r.w.Rule 8D of the Act, amounting to Rs.2,71,85,283/- without appreciating that as clause (f) of Explanation

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital gains, the condition,‘transfer’ of the asset has taken place. 5. The Id. CIT(A) has erred in deleting the disallowance made in the computation of ‘Book Profits’ made u/s.115JB of the Act of the amount of expenditure disallowed u/s.14A r.w.Rule 8D of the Act, amounting to Rs.2,71,85,283/- without appreciating that as clause (f) of Explanation

LOTUS FOOTWEAR ENTERPRISES LIMITED-INDIA BRANCH,TIRUVANNAMALAI vs. DCIT, INTERNATIONAL TAX 1(2), CHENNAI

In the result all the four appeals of the assessee are allowed

gains on such\nreasonable basis as he may deem fit.\nExplanation.— For the purposes of this sub-section, "market value", in\nrelation to any goods or services, means—\n(i) the price that such goods or services would ordinarily fetch in the\nopen market; or\n(ii) the arm's length price as defined in clause (ii) of section

LOTUS FOOTWEAR ENTERPRISES LIMITED-INDIA BRANCH,TIRUVANNAMALAI vs. DCIT, INTERNATIONAL TAX 1(2), CHENNAI

In the result all the four appeals of the assessee are allowed

gains on such\nreasonable basis as he may deem fit.\n\nExplanation.— For the purposes of this sub-section, "market value", in\nrelation to any goods or services, means—\n(i) the price that such goods or services would ordinarily fetch in the\nopen market; or\n(ii) the arm's length price as defined in clause (ii) of section

ST.JOSEPH'S INSTITUTE OF SCIENCE AND TECHNOLOGY TRUST,CHENNAI vs. PCIT CENTRAL CHENNAI - 1, CHENNAI

In the result, all the three appeals filed by the assessee are allowed

10B\n3. Tax computation Memo.\n4. Copy of the Registration issued under section 12AA of the Act\nDuring the subject AY 2018-19, the assessee has offered the entire amount\nof Rs. 15,25,59,500, which has been recorded in the books of the assessee\nas corpus donation, as now been treated voluntarily donations and the\napplication of income

ACIT (OSD) CORPORATE RANGE 1, CHENNAI vs. DONG A INDIA AUTOMOTIVE PRIVATE LIMITED, KANCHEEPURAM

In the result, appeals filed by the assessee’s in ITA No

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

gains as operating in nature, for the purpose of computing PLI or operating margin of the assessee. Thus, we are inclined to :-11-: ITA. No: 585/Chny/2017, 360/Chny/2018, 40 & 1365/Chny/2019 & IT(TP)A Nos: 2159/Chny/2017, 44 & 45/Chny/2019 uphold the findings of the ld. CIT(A) and reject ground taken by the assessee’s in all cases and also we reject ground

KOMOS AUTOMOTIVE INDIA PVT LTD,KANCHIPURAM vs. DCIT, CORPORATE CIRCLE4(2), CHENNAI

In the result, appeals filed by the assessee’s in ITA No

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

gains as operating in nature, for the purpose of computing PLI or operating margin of the assessee. Thus, we are inclined to :-11-: ITA. No: 585/Chny/2017, 360/Chny/2018, 40 & 1365/Chny/2019 & IT(TP)A Nos: 2159/Chny/2017, 44 & 45/Chny/2019 uphold the findings of the ld. CIT(A) and reject ground taken by the assessee’s in all cases and also we reject ground

DAESUNG ELECTRIC INDIA PVT. LTD.,,THIRUVALLUR vs. ACIT (OSD), CHENNAI

In the result, appeals filed by the assessee’s in ITA No

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

gains as operating in nature, for the purpose of computing PLI or operating margin of the assessee. Thus, we are inclined to :-11-: ITA. No: 585/Chny/2017, 360/Chny/2018, 40 & 1365/Chny/2019 & IT(TP)A Nos: 2159/Chny/2017, 44 & 45/Chny/2019 uphold the findings of the ld. CIT(A) and reject ground taken by the assessee’s in all cases and also we reject ground

DONG-A INDIA AUTOMOTIVE PVT LIMITED,KANCHEEPURAM vs. ITO, CORPORATE WARD 1(4), CHENNAI

In the result, appeals filed by the assessee’s in ITA No

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

gains as operating in nature, for the purpose of computing PLI or operating margin of the assessee. Thus, we are inclined to :-11-: ITA. No: 585/Chny/2017, 360/Chny/2018, 40 & 1365/Chny/2019 & IT(TP)A Nos: 2159/Chny/2017, 44 & 45/Chny/2019 uphold the findings of the ld. CIT(A) and reject ground taken by the assessee’s in all cases and also we reject ground