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

Transfer Pricing Adjustment OFCD Interest: 15. The Honorable DRP has erred in law and on facts, in holding that the transactions between the appellant and its AE were not at arm’s length and in upholding the adjustment of Rs 11,23,02,003 made to the interest income of the appellant. 16. The Honorable

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

Transfer Pricing Adjustment OFCD Interest: 15. The Honorable DRP has erred in law and on facts, in holding that the transactions between the appellant and its AE were not at arm’s length and in upholding the adjustment of Rs 11,23,02,003 made to the interest income of the appellant. 16. The Honorable

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

Transfer Pricing Adjustment OFCD Interest: 15. The Honorable DRP has erred in law and on facts, in holding that the transactions between the appellant and its AE were not at arm’s length and in upholding the adjustment of Rs 11,23,02,003 made to the interest income of the appellant. 16. The Honorable

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

Transfer Pricing Adjustment OFCD Interest: 15. The Honorable DRP has erred in law and on facts, in holding that the transactions between the appellant and its AE were not at arm’s length and in upholding the adjustment of Rs 11,23,02,003 made to the interest income of the appellant. 16. The Honorable

COOK INDIA MEDICAL DEVICES PVT. LTD.,CHENNAI vs. JCIT (OSD),, CHENNAI

In the result the appeal of the assessee is allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita No.: 2546/Mds/2016 िनधा"रण वष" / Assessment Years : 2012-13 M/S. Cook India Medical Devices Private The Joint Commissioner Of Limited, V. Income Tax (Osd), 4/249A, Rasim Enclave, Corporate Circle –1(2), Poonamallee High Road, Chennai. Near Savitha Dental College, Goparasanallur, Kattupakkam, Chennai – 600 056. Pan: Aaccc7628P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Nageswar Rao, Advocate ""यथ" क" ओर से/Respondent By : Shri Milind Madhukar Bhusari, Cit सुनवाई क" तार"ख/Date Of Hearing : 10.01.2017 घोषणा क" तार"ख/Date Of Pronouncement : 30.03.2017

transfer pricing adjustment amounting to Rs. 2,26,95,052. 2. Ld. AO/TPO/DRP failed to appreciate that separate benchmarking of support services used in the context of overall distribution business is not justified in law. Without prejudice, submission of secondary analysis to support finding cannot result in estoppel against Appellant and benchmarking contrary to facts and law cannot be justified

EATON POWER QUALITY PRIVATE LIMITED,PONDICHERRY vs. DCIT, PONDICHERRY

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

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 1010/Chny/2017 िनधा"रण वष" / Assessment Year: 2012-13 Eaton Power Quality Private The Deputy Commissioner Of Limited, V. Income Tax, No.2, Evr Street Sedarapet, Pondicherry Circle, Puducherry 605 111, Pondicherry. Puducherry (Ut). [Pan: Aacc-6943-R] आयकर अपील सं./It(Tp)A No.: 35/Chny/2021 िनधा"रण वष" / Assessment Year: 2016-17 Eaton Power Quality Private The Assessing Officer, Limited, V. National E-Assessment Centre, No.2, Evr Street Sedarapet, Delhi. Puducherry 605 111, Puducherry (Ut). [Pan: Aacc-6943-R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Vishal Kalra, Advocate : Shri. S. Maruthu Pandian, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 01.05.2023 घोषणा क" तारीख/Date Of Pronouncement : 03.05.2023 आदेश /O R D E R

Transfer Pricing ("TP") adjustment amounting to INR 16,73,97,818 pertaining to the international transaction of receipt of corporate support services: 4.1 That on the facts and circumstances of the case and in law, the AO/ DRP/ TPO have erred in making an upward TP :-3-: IT(TP)A. No: 35/Chny/2021 & ITA No: 1010/Chny/2017 adjustment

HARLAND CLARKE HOLDING SOFTWARE INDIA PRIVATE LIMITED,CHENNAI vs. DCIT COMPANY CIRCLE 2(2), CHENN

In the result, the appeal of the assessee is partly allowed

Bench: Shri George Mathan & Shri S.Jayaraman

sections 234B & 234C of the Act and Ground No.15 was against the initiation of penalty u/s.271(1)(c) of the Act. The grounds Nos.14 & 15 were not argued by ld.A.R. Consequently, the same is dismissed as not pressed. 5. In regard to the transfer pricing

HOWDEN SOLYVENT (INDIA) PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

Appeal stands partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

Section 234B and 234D of the Act is consequential in nature.” Ground No.1 is general in nature. Ground No.8 has not pressed before us. Ground No.9 assails levy of interest u/s 234B & 234C. The same is consequential in nature which do not require any specific adjudication. Ground Nos. 2 to 4 are related with Transfer Pricing

FOSTER WHEELER FRANCE S.A.,CHENNAI vs. DDIT, CHENNAI

In the result, both the appeals of the assessee are dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.774/Mds/2014 "नधा"रण वष" / Assessment Year :2008-09 & आयकर अपील सं./Ita No.641/Mds/2015 "नधा"रण वष" / Assessment Year : 2009-10 Foster Wheeler France S.A., The Dy. Director Of Income-Tax, C/O Srbc & Associates Llp, V. International Taxation -1, Chennai 6Th & 7Th Floor, “A” Block, Tidel Park, Chennai - 600 034. No.4, Rajiv Gandhi Salai, Taramani, Chennai - 600 113. Pan : Aabcf 3849 C (अपीलाथ"/Appellant) (""यथ"/Respondent)

Pricing Officer found that there was no requirement for any adjustment with regard to above said transaction. The Assessing Officer passed the draft assessment order by disallowing the payment made to Foster Wheeler USA Corporation to the extent of `3,34,99,151/- and `14,94,99,978/- under Section 40(a)(i) of the Income

FOSTER WHEELER FRANCE S.A.,CHENNAI vs. DDIT, CHENNAI

In the result, both the appeals of the assessee are dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.774/Mds/2014 "नधा"रण वष" / Assessment Year :2008-09 & आयकर अपील सं./Ita No.641/Mds/2015 "नधा"रण वष" / Assessment Year : 2009-10 Foster Wheeler France S.A., The Dy. Director Of Income-Tax, C/O Srbc & Associates Llp, V. International Taxation -1, Chennai 6Th & 7Th Floor, “A” Block, Tidel Park, Chennai - 600 034. No.4, Rajiv Gandhi Salai, Taramani, Chennai - 600 113. Pan : Aabcf 3849 C (अपीलाथ"/Appellant) (""यथ"/Respondent)

Pricing Officer found that there was no requirement for any adjustment with regard to above said transaction. The Assessing Officer passed the draft assessment order by disallowing the payment made to Foster Wheeler USA Corporation to the extent of `3,34,99,151/- and `14,94,99,978/- under Section 40(a)(i) of the Income

TITAN INDUSTRIES LIMITED,HOSUR vs. JCIT, CHENNAI

The appeal stands partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

section 234C as consequential in nature and not on the returned income. 2. This appeal was heard along with assessee’s appeal for AYs 2006-07 & 2007-08 on the same day. The appeals for AYs 2006-07 & 2007-08 have separately been disposed-off by us. It was admitted position that the facts as well as issues in this

EXCELLENCE DATA RESEARCH PRIVATE LIMITED, HYDERABAD,CHENNAI vs. ACIT, CIRCLE-17(1), HYDERABAD, HYDERABAD

The appeal stands partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

transfer pricing adjustment of Rs.1,01,05,554 on account of notional interest on receivables from its AEs. 15. That on the facts and circumstances of the case and in law, the AO/DRP erred in charging notional interest on outstanding receivables from its AEs, disregarding the fact that such outstanding receivables had arisen out of the service transaction

IT EXPRESSWAY LIMITED,CHENNAI vs. DCIT COMPANY CIRCLE II(3), CHENNAI

The appeal stands partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

transfer pricing adjustment of Rs.1,01,05,554 on account of notional interest on receivables from its AEs. 15. That on the facts and circumstances of the case and in law, the AO/DRP erred in charging notional interest on outstanding receivables from its AEs, disregarding the fact that such outstanding receivables had arisen out of the service transaction

MITSUBA SICAL INDIA PVT. LIMITED,GUMMIDIPOONDI vs. DCIT, CHENNAI

In the result, appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. No.400/Chny/2017 "नधा"रण वष" /Assessment Year : 2012-2013. Mitsuba Sical India Private Vs. The Deputy Commissioner Of Limited, Income Tax, (Previously Mitsuba Sical (India Corporate Circle 4(1) Ltd) Chennai. No.8,Sipcot Industrial Complex, Gummidipoondi 601 201. [Pan Aaccm 4446M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer pricing documentation based on detailed economic analysis. 13.The learned TPO/ AO and Hon'ble DRP have erred in law and in facts by including/ excluding companies based on unreasonable comparability criteria. Others 14.The learned TPO/ AO and Hon'ble DRP have erred in law and facts, while computing the ALP of an international transaction ought to have eliminated

ACIT NON CORPORATE CIRCLE 8(1)-LTU-2, , CHENNAI vs. M/S. ASHOK LEYLAND LIMITED, CHENNAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

transfer but subscribe actual earning of profit, then the impugned suggestion of the AO do not have legal sanctity in the eyes of law. 10.9 A very pertinent question has been raised by ld.AR Mr. Patel that what should be the line of demarcation to determine the sale price of a product if not the market price

M/S. ASHOK LEYLAND LIMITED,CHENNAI vs. ACIT NON CORPORATE CIRCLE 8(1)-LTU-2, , CHENNAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

transfer but subscribe actual earning of profit, then the impugned suggestion of the AO do not have legal sanctity in the eyes of law. 10.9 A very pertinent question has been raised by ld.AR Mr. Patel that what should be the line of demarcation to determine the sale price of a product if not the market price

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

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

234B and section 234C of the Act. I.T.A. No. 1085/CHNY/2015 Assessment year: 2010-11 Page 7 of 21 [9] We will take up all these grounds of appeal as all these grounds are on the same issue and interconnected. In substance, in our considered view, the questions actually required to be adjudicated by us are as follows: - Whether

JACOBI CARBONS INDIA PRIVATE LIMITED,CHENNAI vs. ACIT, COIMBATORE

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

Bench: Shri Chandra Poojari & Shri George Mathan

transfer pricing documentation maintained by the Appellant and in rejecting Comparable Uncontrolled Price (‘CUP’) as the Most Appropriate ITA No.386/Mds./2017 :- 3 -: Method (‘MAM’). The Hon’ble DRP has erred in upholding the action of Ld. TPO/AO. 2.2 The Ld. TPO/AO erred in appreciating the fact that the Appellant had undertaken a scientific search on a bonafide intention