DCIT, CHENNAI vs. HYUNDAI MOTOR 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...

transfer pricing controversy. Ground no. 2 is thus allowed. 46. We may also add that ground no.1 in the assessee’s appeal for the assessment year 2009-10 is general in nature and it does not call for any specific adjudication. Tax withholding obligation from interest payments to Mauritian entities 47. In ground no. 3.1, the assessee is aggrieved

DCIT, CHENNAI vs. HYUNDAI MOTOR INDIA LIMITED, 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...

transfer pricing controversy. Ground no. 2 is thus allowed. 46. We may also add that ground no.1 in the assessee’s appeal for the assessment year 2009-10 is general in nature and it does not call for any specific adjudication. Tax withholding obligation from interest payments to Mauritian entities 47. In ground no. 3.1, the assessee is aggrieved

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

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...

transfer pricing controversy. Ground no. 2 is thus allowed. 46. We may also add that ground no.1 in the assessee’s appeal for the assessment year 2009-10 is general in nature and it does not call for any specific adjudication. Tax withholding obligation from interest payments to Mauritian entities 47. In ground no. 3.1, the assessee is aggrieved

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

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...

transfer pricing controversy. Ground no. 2 is thus allowed. 46. We may also add that ground no.1 in the assessee’s appeal for the assessment year 2009-10 is general in nature and it does not call for any specific adjudication. Tax withholding obligation from interest payments to Mauritian entities 47. In ground no. 3.1, the assessee is aggrieved

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...

transfer pricing controversy. Ground no. 2 is thus allowed. 46. We may also add that ground no.1 in the assessee’s appeal for the assessment year 2009-10 is general in nature and it does not call for any specific adjudication. Tax withholding obligation from interest payments to Mauritian entities 47. In ground no. 3.1, the assessee is aggrieved

AADARSH SURANA, CHENNAI,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI

In the result, the appeal of the assessee is allowed

2(47) of the Act. 117. The next limb of section 45 of the Act relates to the accrual of profits or gains from such transfer. The expression "profits or gains" is of wide import and is not restricted to monetary gains alone. It includes any economic benefit flowing from the transfer and, in appropriate cases, also comprehends losses

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

price was met out of sale proceeds of land at Kammaguda, Turkyamjal village, inherited by the assessee from his mother long back, during the Financial Year 2006-07. It is apt to mention that the Assessing Officer herself has by her order dated 03.03.2015 U/s144 r.w.s 147of the Income Tax Act, for the Ay 2007-08, has levied capital gains

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

price was met out of sale proceeds of land at Kammaguda, Turkyamjal village, inherited by the assessee from his mother long back, during the Financial Year 2006-07. It is apt to mention that the Assessing Officer herself has by her order dated 03.03.2015 U/s144 r.w.s 147of the Income Tax Act, for the Ay 2007-08, has levied capital gains

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

price was met out of sale proceeds of land at Kammaguda, Turkyamjal village, inherited by the assessee from his mother long back, during the Financial Year 2006-07. It is apt to mention that the Assessing Officer herself has by her order dated 03.03.2015 U/s144 r.w.s 147of the Income Tax Act, for the Ay 2007-08, has levied capital gains

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

price was met out of sale proceeds of land at Kammaguda, Turkyamjal village, inherited by the assessee from his mother long back, during the Financial Year 2006-07. It is apt to mention that the Assessing Officer herself has by her order dated 03.03.2015 U/s144 r.w.s 147of the Income Tax Act, for the Ay 2007-08, has levied capital gains

SELLA SYNERGY INDIA PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./I.T.A. No.398/Mds/2015 "नधा"रण वष" /Assessment Year : 2010-2011

section 92B(2) of the Act and same is the position in case of other entities with whom assessee carried on the impugned transactions. In ITAT's opinion, the argument of the is devoid of merit. Accordingly, the legal ground raised by the assessee is allowed. In support of the claim of the assessee that the business transfer

DCIT, CHENNAI vs. SELLA SYNERGY INDIA PVT LTD., CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./I.T.A. No.398/Mds/2015 "नधा"रण वष" /Assessment Year : 2010-2011

section 92B(2) of the Act and same is the position in case of other entities with whom assessee carried on the impugned transactions. In ITAT's opinion, the argument of the is devoid of merit. Accordingly, the legal ground raised by the assessee is allowed. In support of the claim of the assessee that the business transfer

BANCA SELLA S.P.A. CHENNAI BRANCH (IT DIVISION),CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./I.T.A. No.398/Mds/2015 "नधा"रण वष" /Assessment Year : 2010-2011

section 92B(2) of the Act and same is the position in case of other entities with whom assessee carried on the impugned transactions. In ITAT's opinion, the argument of the is devoid of merit. Accordingly, the legal ground raised by the assessee is allowed. In support of the claim of the assessee that the business transfer

DCIT, CHENNAI vs. AB MAURI INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Mahavir Singh, Vice- & Dr. Dipak P. Ripoteआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / It(Tp)A No’S.84 To 86/Chny/2018 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2010-11, 11- 12 & 12-13 वष" M/S.Ab Mauri India Pvt. Ltd., The Deputy Commissioner Plot No.218 & 219, Vs Of Income-Tax, Corporate Bommasandra Jigani Link Circle-1(1), Road, Bengaluru – 560 015. Chennai – 600 034. Pan: Aaeca 9923 H Appellant/ Assessee Respondent /Revenue आयकर अपील आयकर अपील संसंसंसं. / Ita No’S.3315 To 3317/Chny/2018 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2010-11, 11- 12 & 12-13 वष" The Deputy Commissioner M/S.Ab Mauri India Pvt. Of Income-Tax, Corporate Vs Ltd., Circle-1(1), Plot No.218 & 219, Chennai – 600 034. Bommasandra Jigani Link Road, Bengaluru – 560 015. Pan: Aaeca 9923 H Appellant/ Revenue Respondent /Assessee

transfer Pricing Forum in its report. Even OECD has opined that such activity does not need any payments by receiver. 10.6 Finally in Para 6 of the TPO’s order it is held as under : “The ALP for the management fees calculated on an international transaction has not been determined by the assessee company in accordance with Section

DCIT, CHENNAI vs. AB MAURI INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Mahavir Singh, Vice- & Dr. Dipak P. Ripoteआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / It(Tp)A No’S.84 To 86/Chny/2018 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2010-11, 11- 12 & 12-13 वष" M/S.Ab Mauri India Pvt. Ltd., The Deputy Commissioner Plot No.218 & 219, Vs Of Income-Tax, Corporate Bommasandra Jigani Link Circle-1(1), Road, Bengaluru – 560 015. Chennai – 600 034. Pan: Aaeca 9923 H Appellant/ Assessee Respondent /Revenue आयकर अपील आयकर अपील संसंसंसं. / Ita No’S.3315 To 3317/Chny/2018 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2010-11, 11- 12 & 12-13 वष" The Deputy Commissioner M/S.Ab Mauri India Pvt. Of Income-Tax, Corporate Vs Ltd., Circle-1(1), Plot No.218 & 219, Chennai – 600 034. Bommasandra Jigani Link Road, Bengaluru – 560 015. Pan: Aaeca 9923 H Appellant/ Revenue Respondent /Assessee

transfer Pricing Forum in its report. Even OECD has opined that such activity does not need any payments by receiver. 10.6 Finally in Para 6 of the TPO’s order it is held as under : “The ALP for the management fees calculated on an international transaction has not been determined by the assessee company in accordance with Section

DCIT, CHENNAI vs. AB MAURI INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Mahavir Singh, Vice- & Dr. Dipak P. Ripoteआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / It(Tp)A No’S.84 To 86/Chny/2018 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2010-11, 11- 12 & 12-13 वष" M/S.Ab Mauri India Pvt. Ltd., The Deputy Commissioner Plot No.218 & 219, Vs Of Income-Tax, Corporate Bommasandra Jigani Link Circle-1(1), Road, Bengaluru – 560 015. Chennai – 600 034. Pan: Aaeca 9923 H Appellant/ Assessee Respondent /Revenue आयकर अपील आयकर अपील संसंसंसं. / Ita No’S.3315 To 3317/Chny/2018 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2010-11, 11- 12 & 12-13 वष" The Deputy Commissioner M/S.Ab Mauri India Pvt. Of Income-Tax, Corporate Vs Ltd., Circle-1(1), Plot No.218 & 219, Chennai – 600 034. Bommasandra Jigani Link Road, Bengaluru – 560 015. Pan: Aaeca 9923 H Appellant/ Revenue Respondent /Assessee

transfer Pricing Forum in its report. Even OECD has opined that such activity does not need any payments by receiver. 10.6 Finally in Para 6 of the TPO’s order it is held as under : “The ALP for the management fees calculated on an international transaction has not been determined by the assessee company in accordance with Section

ACIT, CHENNAI vs. MANSI FINANCE CHENNAI LTD., CHENNAI

In the result, the appeal of the Revenue in ITA

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddy

transfer is that the asset must be capital asset, considering the description under the Act. The chargeability to tax under Sec.45 arises only if on the date of sale, the land in question retained its character as a capital asset, which means, an asset, which does not answer the definition of a capital asset and which is an agricultural land

RAMAKRISHNAN PRABHU JYOTHI,,COIMBATORE vs. ACOT, NCC-5, , COIMBATORE

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.690/Chny/2020 निर्धारण वर्ष /Assessment Years: 2016-17 Ramakrishnan Prabhu Jyothi, Race Course, Coimbatore, Tamil Nadu-641018, [Pan: Adjpp4946N] Asst. Commissioner Of Income Tax, Non-Corporate Circle-5, Coimbatore. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Shri N.P.Vijay Kumar, Advocate प्रत्यर्थी की ओर से /Respondent By : Shri Nilay Baran Som, Cit सुनवाई की तारीख/Date Of Hearing : 27.05.2024 घोषणा की तारीख /Date Of Pronouncement : 23.08.2024 आदेश / Order Per Amitabh Shukla, A.M : This Appeal Is Filed Against The Order Bearing Din & Order No.Itba/Apl/S/250/2029-20/1026334108(1) Dated 09.03.2020 Of The Learned Commissioner Of Income Tax [Herein After “Cit(A), For The

price or payment in kind or adjustment towards debt or for monetary consideration. That the issue of ownership and possession nowhere form part of the provision and concept of transfer is alien to it. 7. The CIT (Appeals) and AO failed to take note of judgment in CIT vs Dr.Laxmichand Narpal Nagda (1995 211 ITR 804 (Bom) wherein

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. ASHOK LEYLAND LIMITED, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

transfer pricing provisions. Accordingly, the first plea of the assessee is hereby rejected. 5.3 The next issue now to be adjudicated is the ALP value of the guarantee commission. In this regard, the Ld. AR has relied on the quote provided by Bank(s) in which they have proposed to extend bank guarantee at 0.325% and has urged that