ASSISSTANT COMMISSIONER OF INCOME CORPORATE CIRCLE 1-1, CHENNAI vs. FL SMIDTH PRIVATE LIMITED, KANCHIPURAM

144C", "Section 43(1)", "Section 43(6)", "Section 14A", "Rule 8D", "Section 32(1)(ii)", "Section 92CA(3)", "Section 92C(3)" ], "issues": "1. Whether depreciation

YCH LOGISTICS (INDIA) PRIVATE LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

144C of the Act because the AO has become functus officio once demand is determined and notice u/s.156 of the Act along with initiation of penalty order is passed, the AO ceased with the jurisdiction. The subsequent action of the AO in passing final assessment order u/s.143(3) r.w.s. 92CA(3) r.w.s 144(5) of the Act dated

MOSBACHER INDIA LLC,CHENNAI vs. ADDL. DIT, CHENNAI

In the result, the appeal is partly allowed in the terms indicated above

depreciation is admissible under section 32" had been omitted; and] (c) to the depletion of mineral oil in the mining area in respect of the assessment year relevant to the previous year in which commercial production is begun and for such succeeding year or years as may be specified in the agreement; and such allowances shall be computed and made

ASSISSTANT COMMISIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. FL SMITH PRIVATE LIMITED, KANCHIPURAM

In the result, the appeals of the revenue in ITA

3) r.w.s 144C of the Income Tax Act, 1961 (hereinafter the ‘Act') for the\n assessment years 2014-15, 2015-16 and 2017-18 dated 29.03.2024,\n29.03.2024 and 29.03.2024 respectively. The CO has been raised by the\nassessee for the A.Y.2015-16 only. Since the facts are common/identical and\nthe issue of assessee's claim of depreciation on goodwill arising

M/S. EID PARRY INDIA LTD.,CHENNAI vs. DCIT, LTU-1,, CHENNAI

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes and the appeal filed by the Revenue is dismissed

Bench: Shri George George Kand Shri S.R. Raghunathait(Tp)A. Nos.:105, 106, 107/Chny/2024 & Ita No.3113/Chny/2024 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. E.I.D. Parry India Ltd., The Deputy Commissioner Of No. 234, Dare House, Nsc Vs. Income Tax, Bose Road, Parrys Corner, Large Taxpayer Unit -1, Chennai 600 001. Chennai. [Pan: Aaace-0702-C] (अपीलाथ"/Appellant) (""यथ"/Respondent)

144C(3) r.w.s. 92CA of the Act dated 29.05.2015, the Assessing Officer disallowed a sum of ₹. 7,35,900/- as TP adjustment. On appeal, the CIT(A) confirmed the above TP adjustment. The assessee contended that Tribunal is consistently holding that TP adjustment in respect of guarantee given to AE shall be at 0.5% and prayed to restrict the disallowance

ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. E I D PARRY INDIA LIMITED, CHENNAI

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes and the appeal filed by the Revenue is dismissed

Bench: Shri George George Kand Shri S.R. Raghunathait(Tp)A. Nos.:105, 106, 107/Chny/2024 & Ita No.3113/Chny/2024 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. E.I.D. Parry India Ltd., The Deputy Commissioner Of No. 234, Dare House, Nsc Vs. Income Tax, Bose Road, Parrys Corner, Large Taxpayer Unit -1, Chennai 600 001. Chennai. [Pan: Aaace-0702-C] (अपीलाथ"/Appellant) (""यथ"/Respondent)

144C(3) r.w.s. 92CA of the Act dated 29.05.2015, the Assessing Officer disallowed a sum of ₹. 7,35,900/- as TP adjustment. On appeal, the CIT(A) confirmed the above TP adjustment. The assessee contended that Tribunal is consistently holding that TP adjustment in respect of guarantee given to AE shall be at 0.5% and prayed to restrict the disallowance

R STAHL PRIVATE LIMITED,KANCHEEPURAM vs. DCIT, CORPORATE CIRCLE-5(2), CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudharyआयकरअपीलसं./I.T.A No.:55/Chny/2018 िनधा"रणवष"/Assessment Year: 2013 - 2014

3) read with Section 92CA(4) and 144C(1) of the Act prosing transfer pricing addition of INR 2,63,22,674/-. In addition, the Assessing Officer, rejected the claim of carry forward of unabsorbed depreciation

M/S. STANADYNE INDIA PVT. LTD.,TIRUVALLUR vs. ACIT, CC-IV(4), CHENNA

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

section 143(3) r.w.s 92CA(4) & 144C(3) of the Income-tax Act, 1961.", "held": "The Tribunal held that the issue regarding the set-off of unabsorbed depreciation

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT LTU-II, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

144C(13) of the Act, wherein the AO has computed the income from capital gains on amount of Rs.378,94,21,668/- and computed Long Term Capital Gain @ 20% amounting to Rs.75,78,84,334/-. He particularly drew our attention to the computation part of capital gain. Even in the notes attached to balance sheet as on 30.04.2007, attached vide

ASSISSTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. FL SMITH PRIVATE LIMITED, KANCHIPURAM

In the result, the appeals of the revenue in ITA

3) r.w.s 144C of the Income Tax Act, 1961 (hereinafter the ‘Act') for the\n assessment years 2014-15, 2015-16 and 2017-18 dated 29.03.2024,\n29.03.2024 and 29.03.2024 respectively. The CO has been raised by the\nassessee for the A.Y.2015-16 only. Since the facts are common/identical and\nthe issue of assessee's claim of depreciation on goodwill arising

DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE - 3(1), CHENNAI vs. M/S. TRIUMPH INTERNATIONAL (INDIA) PRIVATE LIMITED, KANCHEEPURAM

In the result, the appeal of the Revenue is dismissed

3) read with Section 144C\non 30.11.2021, computing the book profit under Section 115JB at Rs.\n5,40,53,120, disallowing the assessee's claim of set-off of brought\nforward losses/unabsorbed depreciation

WATANMAL (INDIA) PVT LTD,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(2), CHENNAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T(Tp).A. No. 4/Chny/2018 & I.T.A. No. 2407/Chny/2017 िनधा"रण वष"/Assessment Years:2006-07 & 2008-09 Vs. The Deputy Commissioner Of Watanmal (India) Pvt. Ltd., Old No. 12, New No. 14, Ground Floor, Income Tax, Sripuram Second Street, Royapettah, Corporate Circle 3(2), Chennai 600 014. Chennai. [Pan:Aaacw6624B] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri T. Banusekar, C.A. ""थ" की ओर से/Respondent By : Dr. S. Palanikumar, Cit सुनवाई की तारीख/ Date Of Hearing : 05.09.2022 घोषणा की तारीख /Date Of Pronouncement : 16.09.2022 आदेश /O R D E R Per V. Durga Rao,: The Appeal Filed By The Assessee For The Assessment Year 2006- 07 Is Directed Against The Order Passed By The Ld. Dispute Resolution Panel -2, Bengaluru Under Section 143(3) R.W.S. 147 R.W.S. 92Ca(3) R.W.S. 144C(5) R.W.S. 254 R.W.S. 144C(5) Of The Income Tax Act, 1961 [“Act” In Short] Dated 27.12.2017. The Appeal Filed By The Assessee For The Assessment Year 2008-09 Is Directed Against The Order Of The Assessing Officer Under Section 143(3) R.W.S. 147 R.W.S. 92Ca(3) R.W.S.

depreciation on lease hold property to the tune of ₹.1,08,825/-, thereby, the total income of the assessee has been assessed at ₹.47,53,988/-. 3. The assessee has chosen TNMM as the Most Appropriate Method for determining the Arm’s Length Price of the international transactions. Operating Margin upon Operating Cost has been chosen

EAST WIND FOOTWEAR COMPANY LIMITED - INDIA BRANCH ,THIRUVANNAMALAI vs. DCIT INTERNATIONAL TAXATION 1(1) & 1(2) , CHENNAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No.1655/Chny/2017 िनधा"रण वष"/Assessment Year:2014-15 M/S. East Wind Footwear Company The Deputy Commissioner Of Vs. Limited – India Branch, Plot No. 3, Income Tax, D&E, Sipcot Industrial Park, Mathur, International Taxation 1(1) & 1(2), Mangal Village, Cheyyar T.K., Chennai. Thiruvannamalai, Tamil Nadu 631 701. [Pan: Aacce5043N] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ashik Shah, C.A. ""थ" की ओर से/Respondent By : Shri S. Ramakrishnan, Cit सुनवाई की तारीख/ Date Of Hearing : 29.01.2020 घोषणा की तारीख /Date Of Pronouncement : 31.01.2020 आदेश /O R D E R Per Duvvurul Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Final Assessment Order Passed Under Section 143(3) R.W.S. 144C(13) Of The Income Tax Act, 1961 [“Act” In Short] Dated 28.04.2017 Relevant To The Assessment Year 2014-15. The Effective Grounds Raised In The Appeal Of The Assessee Are That The Assessing Officer & The Drp Have Erred In Law In Not Allowing The Deduction Under Section 10Aa Of The Act & Computation Of Tax Payable & Levy Of Interest Under Section 234D Of The Act.

3) r.w.s. 144C(1) of the Act by disallowing the claim of exemption under section 10AA of the Act while allowing to carry forward the unabsorbed depreciation

FLEXTRONICS TECHNOLOGIES (INDIA) PVT. LTD.,KANCHEEPURAM vs. ACIT (OSD), CHENNAI

In the result, the appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.322/Chny/2017 िनधा"रण वष"/Assessment Year: 2012-13 Flextronics Technologies (India) Private Vs. The Assistant Commissioner Of Limited [Appeal By Flexpower India Income Tax (Osd), Private Limited, That Has Merged With Corporate Range 2, Room No. 403, Flextronics Technologies (India) Private Wanaparthy Block, No. 121, Limited, Plot No. 3, Phase Ii, Sipcot Mahatma Gandhi Road, Industrial Park, Sandavellure C Village, Nungambakkam, Chennai 600 034. Sriperumbudur Taluk, Kancheepuram District, Tamil Nadu 602 106. [Pan:Aaacf5248E] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ajit Kumar Jain, C.A. ""थ" की ओर से/Respondent By : Dr. S. Palanikumar, Cit सुनवाई की तारीख/ Date Of Hearing : 10.01.2023 घोषणा की तारीख /Date Of Pronouncement : 13.01.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Assessment Order Passed Under Section 143(3) R.W.S. 144C (13) Of The Income Tax Act, 1961[“Act” In Short] Relevant To The Assessment Year 2012-13. 2. The Ld. Counsel For The Assessee Has Not Pressed Ground Nos. 1

section 143(3) r.w.s. 144C(13) of the Act dated 30.11.2016 by making adjustment in accordance with the directions given by the ld. DRP. 7. On being aggrieved, the assessee carried the matter in appeal before the Tribunal. The ld. Counsel for the assessee has submitted that the TPO determined the ALP at NIL, which is not correct

FORD INDIA (P) LTD,CHENNAI vs. DY CIT LTU, CHENNAI

In the result, the assessee’s appeal is allowed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita Nos.2344 & 2345/Mds/2012 "नधा*रण वष* /Assessment Year: 2005-06 & 2008-09

144C. (1) The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward3a a draft of the proposed order of assessment (hereafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of October, 2009, any variation

FORD INDIA (P) LTD,CHENNAI vs. DY CIT LTU, CHENNAI

In the result, the assessee’s appeal is allowed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita Nos.2344 & 2345/Mds/2012 "नधा*रण वष* /Assessment Year: 2005-06 & 2008-09

144C. (1) The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward3a a draft of the proposed order of assessment (hereafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of October, 2009, any variation

PRECISION HYDRAULICS PRIVATE LIMITED,CHENNAI vs. ACIT CORPORATE CIRCLE 5(2), CHENNAI

Appeal is allowed for statistical purposes

Bench: Shri G. Manjunatha & Shri Rahul Chaudharyआयकरअपीलसं./I.T.A No.:1841/Chny/2017 िनधा&रणवष&/Assessment Year: 2013 - 2014

Section 144C(13) of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] in pursuance of the directions issued by the Dispute Resolution Panel (DRP) on 24.04.2017. I.T.A. No.1841/CHNY/2017 Assessment Year :2013 - 2014 2. The brief fact of the case are that the Appellant, a private limited company, was engaged in the business of manufacturing hydraulic cylinders

DOOWON AUTOMOTIVE SYSTEMS INDIA PRIVATE LIMITED,KNACHEEPURAM vs. ACIT (OSD) CORPORATE RANGE 1, CHENNAI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./I.T.A. No. 3061/Chny/2017 िनधा"रण वष"/Assessment Year: 2013-14 M/S. Doowon Automotive Systems The Assistant Commissioner Of India Pvt. Ltd., Plot No. B-19 & 20, Vs. Income Tax (Osd), Sipcot Industrial Park, Oragadam, Corporate Range – 1, Sriperumbudur Taluk, Chennai. Kancheepuram District 602 105. [Pan:Aaccd4172F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S.P. Chidambaram, Advocate ""थ" की ओर से/Respondent By Shri B. Jayaragahvan, Cit : सुनवाई की तारीख/ Date Of Hearing : 16.09.2021 घोषणा की तारीख /Date Of Pronouncement 23.11.2021 : आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Assessment Order Passed Under Section 143(3) R.W.S. 144C(13) R.W.S. 92Ca Of The Income Tax Act, 1961 [“Act” In Short], Dated 13.10.2017 Relevant To The Assessment Year 2013-14. Besides Challenging Transfer Pricing Issues Of Custom Duty, Working Capital Adjustment, Foreign Exchange Loss, Provision For Doubtful Debts, Confirming Hanon Climate Systems India Pvt. Ltd. Is A Comparable Company, The Assessee Has Also Challenged Corporate Tax Issue Of Brought Forward Business Losses From The Previous Years.

section 144C(5) dated 18.09.2017, the ld. DRP confirmed the transfer pricing adjustment as proposed in the draft assessment order. Accordingly, the TP adjustment as confirmed by the ld. DRP was added back to the income returned by the assessee. 3 I.T.A. No.3061/Chny/17 3. On being aggrieved, the assessee is in appeal before the Tribunal for both TP issues

DCIT, CHENNAI vs. HYUNDAI MOTORS INDIA LTD., KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

144C(13) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the assessment years 2009-10, 2010-11 and 2011-12 respectively. There is also a cross objection filed by the assessee for the assessment year 2011-12 but that is, for the reasons we will set out now, not maintainable. The scheme