PHILIPS FOODS INDIA PRIVATE LIMITED,TUTICORIN vs. PCIT-1, MADURAI

In the result, the appeal of the assesse is allowed

143(3)", "144B", "92CA", "92D(3)", "129", "139(1)", "92", "92A", "92F", "119" ], "issues": "Whether the Principal Commissioner of Income Tax had the valid jurisdiction to pass the revisionary order under Section 263, considering the administrative control over the Transfer Pricing

ALTHI VENKATA NARENDRA RAJU,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(2), CHENNAI

In the result, the appeal filed by the assessee in ITA No

Transfer Pricing Officer is\nreceived by him.]\n(6) Nothing contained in sub-sections (1) 27[, (1A)] and (2) shall apply to the following\nclasses of assessments, reassessments and recomputation which may, subject to the\nprovisions of 28[sub-sections (3), (5) and (5A)], be completed-\n(i) where the assessment, reassessment or recomputation is made on the assessee

DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

section 143(3) r.w.s. 147 of the Act was over and above the purpose for which the 143(1) assessment was reopened, which cannot be sustained under law and facts. It was the submission of the assessee that the assessment was reopened to bring to tax the alleged escapement of income on account of transfer pricing

ACIT, CHENNAI vs. M/S. MASCON GLOBAL LTD., CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

section 143(3) r.w.s. 147 of the Act was over and above the purpose for which the 143(1) assessment was reopened, which cannot be sustained under law and facts. It was the submission of the assessee that the assessment was reopened to bring to tax the alleged escapement of income on account of transfer pricing

DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

section 143(3) r.w.s. 147 of the Act was over and above the purpose for which the 143(1) assessment was reopened, which cannot be sustained under law and facts. It was the submission of the assessee that the assessment was reopened to bring to tax the alleged escapement of income on account of transfer pricing

DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

section 143(3) r.w.s. 147 of the Act was over and above the purpose for which the 143(1) assessment was reopened, which cannot be sustained under law and facts. It was the submission of the assessee that the assessment was reopened to bring to tax the alleged escapement of income on account of transfer pricing

TAMIL NADU BRICK INDUSTRIES,CHENNAI vs. ITO, CHENNAI

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/S. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1St Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [Pan: Aafft3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Vijay Kumar Punna, Jr. Standing Counsel सुनवाई क" तार"ख/ Date Of Hearing : 13.02.2018 घोषणा क" तार"ख /Date Of Pronouncement : 11.05.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Chennai, Dated 27.02.2017 Relevant To The Assessment Year 2013-14. The Assessee Has Raised The Following Grounds: “1. The Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 27.02.2017 In I.T.A.No.07/Cit(A)-9/2016-17 For The Above Mentioned Assessment Year Is Contrary To Law, Facts & In The Circumstances Of The Case.

143(3) of the Act by determining the total income of the assessee at ₹.511,60,00,657/- after making addition of long term capital gains of ₹.511,02,41,400/- and other disallowances. 3. The assessee carried the matter in appeal before the ld. CIT(A). After considering the details as was furnished before the Assessing Officer

ASSISTANT COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM vs. R K M POWERGEN PRIVATE LIMITED, T NAGAR

In the result the appeal of the revenue for the both the

transfer pricing orders wherein downward adjustments were made to the price paid for the equipment imported by the AE. It is submitted that the Assessee had filed an appeal (IT(TP) A No. 44/Chny/2023) to this honʼble Tribunal against the appellate order for Assessment Year 2013-14 (arising from the assessment under Section 143(3

SUNTEC BUSINESS SOLUTIONS PRIVATE LIMITED,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 3(1), CHENNAI, CHENNAI

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

Bench: Shri George George Kand Shri S.R. Raghunatha

Transfer Pricing Officer (TPO) to determine the arm’s length price of international transaction undertaken by the assessee with its AE. The TPO passed an order u/s.92CA of the Act on 23.10.2023 wherein, he proposed downward adjustment of Rs.1,42,01,590/- being the arm’s length price of the salary paid to global sales personnel. The reasoning

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

143(3) read with Section 147 of the 1961 Act, the assessee filed first appeal before Ld.CIT(A) raising both jurisdictional issue challenging legality of reopening of the concluded assessment by invoking provisions of Section 147 of the 1961 Act as well raising challenge on merits of the additions made by the AO. The learned CIT(A) was , inter-alia

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

143(3) read with Section 147 of the 1961 Act, the assessee filed first appeal before Ld.CIT(A) raising both jurisdictional issue challenging legality of reopening of the concluded assessment by invoking provisions of Section 147 of the 1961 Act as well raising challenge on merits of the additions made by the AO. The learned CIT(A) was , inter-alia

SHRI K.SRIKANTH,CHENNAI vs. ACIT, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

143(3) read with Section 147 of the 1961 Act, the assessee filed first appeal before Ld.CIT(A) raising both jurisdictional issue challenging legality of reopening of the concluded assessment by invoking provisions of Section 147 of the 1961 Act as well raising challenge on merits of the additions made by the AO. The learned CIT(A) was , inter-alia

ACIT,, CHENNAI vs. SRI. K.SRIKANTH,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

143(3) read with Section 147 of the 1961 Act, the assessee filed first appeal before Ld.CIT(A) raising both jurisdictional issue challenging legality of reopening of the concluded assessment by invoking provisions of Section 147 of the 1961 Act as well raising challenge on merits of the additions made by the AO. The learned CIT(A) was , inter-alia

SIVA INDUSTRIES AND HOLDINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

143(3) read with section 92CA (4) making the following disallowances / additions. Disallowance of interest expense under section 14A at INR 9,34,74,475 Disallowance of consulting fee paid to bank under section 37at INR 13,70,90,436 Disallowance of escrow fee paid to bank under section 37 at INR 201,663 Transfer Pricing

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

143(3) read with section 92CA (4) making the following disallowances / additions. Disallowance of interest expense under section 14A at INR 9,34,74,475 Disallowance of consulting fee paid to bank under section 37at INR 13,70,90,436 Disallowance of escrow fee paid to bank under section 37 at INR 201,663 Transfer Pricing

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

143(3) read with section 92CA (4) making the following disallowances / additions. Disallowance of interest expense under section 14A at INR 9,34,74,475 Disallowance of consulting fee paid to bank under section 37at INR 13,70,90,436 Disallowance of escrow fee paid to bank under section 37 at INR 201,663 Transfer Pricing

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

143(3) read with section 92CA (4) making the following disallowances / additions. Disallowance of interest expense under section 14A at INR 9,34,74,475 Disallowance of consulting fee paid to bank under section 37at INR 13,70,90,436 Disallowance of escrow fee paid to bank under section 37 at INR 201,663 Transfer Pricing

PENTA MEDIA GRAPHICS LTD.,CHENNAI vs. DCIT, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.1402/Chny/2015 िनधा"रण वष"/Assessment Year: 2000-01 M/S. Penta Media Graphics Ltd., The Deputy Commissioner Of ‘Taurus’, No. 25, First Main Road, Vs. Income Tax, Media Circle I, Room No. 311, 3Rd Floor, New Block, United India Colony, Kodambakkam, Chennai 600 024. 121, Mahatma Gandhi Road, Nungambakkam, Chennai 600 034. [Pan: Aaacp1647B] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri G. Baskar, Advocate & : Smt. Sree Valli Lakshmi, Advocate ""थ" की ओर से/Respondent By None [Dept. Letter Submission] : सुनवाई की तारीख/ Date Of Hearing 12.04.2023 : घोषणा की तारीख /Date Of Pronouncement : 10.05.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai Dated 30.03.2015 Passed Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

price for the valuation of goodwill. Likewise, he further noted that the assessing authority has not examined the justification of the consideration for transfer of IPR and directed the Assessing Officer to re- examine the issue. 3.8 Subsequently, the Assessing Officer passed the assessment order under section 143(3