T vs. MOTOR COMPANY LTD.,CHENNAIVS.ACIT, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita No.672/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 M/S.Tvs Motor Co. Ltd., V. The Acit, No.29, Haddows Road, Corporate Circle – 3(1), Chennai-600 006. Chennai. [Pan: Aaacs 7032 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer pricing adjustment towards royalty receivable at the rate of 2% at ex pricing adjustment towards royalty receivable at the rate of 2% at ex pricing adjustment towards royalty receivable at the rate of 2% at ex- ITA No.672/Chny/201 /Chny/2017 (AY 2012-13) M/s.TVS Motor Co. Ltd. M/s.TVS Motor Co. Ltd. :: 16 :: factory sale at Rs.2,15,56,000/ factory

M/S STERLITE INDUSTRIES (INDIA) LTD.,TUTICORIN vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

4. On the contrary, Shri M. Swaminathan, Ld. Sr.Standing Counsel for the Revenue, submitted that the CIT(Appeals), by following the Special Bench decision of this Tribunal in ACIT v. Rohini Garments (2007) 294 ITR (AT) 15, found that the assessee cannot claim more than the profit computed under the provisions of the Act. If the deduction allowed under Section

ACIT, CHENNAI vs. M/S. STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

4. On the contrary, Shri M. Swaminathan, Ld. Sr.Standing Counsel for the Revenue, submitted that the CIT(Appeals), by following the Special Bench decision of this Tribunal in ACIT v. Rohini Garments (2007) 294 ITR (AT) 15, found that the assessee cannot claim more than the profit computed under the provisions of the Act. If the deduction allowed under Section

ACIT, CHENNAI vs. M/S STERLITE INDUSTRIES (INDIA) LTD., CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

4. On the contrary, Shri M. Swaminathan, Ld. Sr.Standing Counsel for the Revenue, submitted that the CIT(Appeals), by following the Special Bench decision of this Tribunal in ACIT v. Rohini Garments (2007) 294 ITR (AT) 15, found that the assessee cannot claim more than the profit computed under the provisions of the Act. If the deduction allowed under Section

M/S. STERLITE INDUSTRIES (INDIA) LTD.,MADURAI vs. ADDITIONAL CIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

4. On the contrary, Shri M. Swaminathan, Ld. Sr.Standing Counsel for the Revenue, submitted that the CIT(Appeals), by following the Special Bench decision of this Tribunal in ACIT v. Rohini Garments (2007) 294 ITR (AT) 15, found that the assessee cannot claim more than the profit computed under the provisions of the Act. If the deduction allowed under Section

ACIT, CHENNAI vs. M/S. STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

4. On the contrary, Shri M. Swaminathan, Ld. Sr.Standing Counsel for the Revenue, submitted that the CIT(Appeals), by following the Special Bench decision of this Tribunal in ACIT v. Rohini Garments (2007) 294 ITR (AT) 15, found that the assessee cannot claim more than the profit computed under the provisions of the Act. If the deduction allowed under Section

ACIT, CHENNAI vs. M/S STERLITE INDUSTRIES (INDIA) LTD., TUTICORIN

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

4. On the contrary, Shri M. Swaminathan, Ld. Sr.Standing Counsel for the Revenue, submitted that the CIT(Appeals), by following the Special Bench decision of this Tribunal in ACIT v. Rohini Garments (2007) 294 ITR (AT) 15, found that the assessee cannot claim more than the profit computed under the provisions of the Act. If the deduction allowed under 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

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

41. It is also relevant to note that the assessee is a cost-plus entity and offers arm’s length remuneration, as agreed in the Unilateral Advance Price Agreement (“UAPA”) dated 20.05.2016 (enclosed in Page 63 of paperbook). In this regard, the ld.AR stated that the assessee had made a fresh investment of around Rs.128 crores over a span

M/S. SIVANANDHA MILLS LTD.,COIMBATORE vs. DCIT, COIMBATORE

In the result, ITA No.2106/Mds/13 is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

41, Periasamy Road (East), v. Income-tax / The DCIT, R.S.Puram, Company Circle-IV(2), Coimbatore-641002. Coimbatore. PAN AAKCS7439J (""यथ"/Respondent) (अपीलाथ"/Appellant) अपीलाथ" क" ओर /Appellant by : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent by : Dr. Milind Madhukar Bhusari, CIT सुनवाई क" तार"ख/Date of Hearing : 22.03.2016 घोषणा क" तार"ख/Date of Pronouncement : 17.06.2016 आदेश

SIVANANDHA MILLS LIMITED,COIMBATORE vs. ACIT, COIMBATORE

In the result, ITA No.2106/Mds/13 is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

41, Periasamy Road (East), v. Income-tax / The DCIT, R.S.Puram, Company Circle-IV(2), Coimbatore-641002. Coimbatore. PAN AAKCS7439J (""यथ"/Respondent) (अपीलाथ"/Appellant) अपीलाथ" क" ओर /Appellant by : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent by : Dr. Milind Madhukar Bhusari, CIT सुनवाई क" तार"ख/Date of Hearing : 22.03.2016 घोषणा क" तार"ख/Date of Pronouncement : 17.06.2016 आदेश

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

price of the corporate guarantee at 3 percent seems unreasonable. However, in this connection additional evidence furnished by the assessee that IDBI Bank Ltd has charged 1 percent guarantee commission to S Tel Pvt Ltd for the relevant FY 2008-09 appears reasonable. Therefore, the TPO is directed to verify the additional evidence furnished by the assessee. In case

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

price of the corporate guarantee at 3 percent seems unreasonable. However, in this connection additional evidence furnished by the assessee that IDBI Bank Ltd has charged 1 percent guarantee commission to S Tel Pvt Ltd for the relevant FY 2008-09 appears reasonable. Therefore, the TPO is directed to verify the additional evidence furnished by the assessee. In case

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

price of the corporate guarantee at 3 percent seems unreasonable. However, in this connection additional evidence furnished by the assessee that IDBI Bank Ltd has charged 1 percent guarantee commission to S Tel Pvt Ltd for the relevant FY 2008-09 appears reasonable. Therefore, the TPO is directed to verify the additional evidence furnished by the assessee. In case

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

price of the corporate guarantee at 3 percent seems unreasonable. However, in this connection additional evidence furnished by the assessee that IDBI Bank Ltd has charged 1 percent guarantee commission to S Tel Pvt Ltd for the relevant FY 2008-09 appears reasonable. Therefore, the TPO is directed to verify the additional evidence furnished by the assessee. In case

ASSISTANT COMMISSIONER OF INCOME TAX, TIRUPPUR vs. PRABHU SPINNING MILLS PRIVATE LIMITED, TIRUPPUR

In the result all the grounds raised by the revenue for the A

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:433 & 435/Chny/2025 धनिाजरण वर्ज / Assessment Year: 2018-19 & 2017-18 Acit, Circle -1 Prabhu Spining Mills Private 121, Adarns Plaza, Vs. Limited, 60, Feet Road, No. 207 – 86, Mangalam Road, Tiruppur – 641 602. Karuvampalayam, Tiruppur – 641 604. Tamil Nadu. (अपीलाथी/Appellant) [Pan:Aabcp-0750-E] (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : Shri. Arv Sreenivasan, Cit प्रत्यथी की ओर से/Respondent By : Shri. T. Banusekar, Advocate. सुनवाई की तारीख/Date Of Hearing : 16.07.2025 घोर्णा की तारीख/Date Of Pronouncement : 13.08.2025

4. Division 20.04.2010 40,93,529 3.39 1,38,77,063 VII/2009-10 5. Division 18.08.2011 1,11,31,745 3.39 3,77,36,616 VIII/2011-12 Total 10,69,94,336 5. The TPO thus determined the Arm’s Length Price (ALP) of electricity transferred from section 80-IA eligible windmill division of the assessee to the textile division

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,TIRUPPUR, TIRUPPUR vs. PRABHU SPINNING MILLS PRIVATE LIMITED, TIRUPPUR

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:433 & 435/Chny/2025 निर्धारण वर्ष / Assessment Year: 2018-19 & 2017-18 Acit, Circle -1 121, Adarns Plaza, 60, Feet Road, Tiruppur - 641 602. (अपीलार्थी/Appellant) Vs. Prabhu Spining Mills Private Limited, No. 207 – 86, Mangalam Road, Karuvampalayam, Tiruppur – 641 604. Tamil Nadu. [Pan:Aabcp-0750-E] (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By : Shri. Arv Sreenivasan, Cit प्रत्यर्थी की ओर से/Respondent By : Shri. T. Banusekar, Advocate. सुनवाई की तारीख/Date Of Hearing : 16.07.2025 घोषणा की तारीख/Date Of Pronouncement : 13.08.2025 Per S. R. Raghunatha, Am : आदेश /Order These Two Appeals Filed By The Revenue Are Directed Against Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Chennai-16 (In Short “Id.Cit(A)”) Dated 04.10.2024 For Assessment Years 2017-18 & 2018-19 Respectively. Since Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals By The Revenue Are Being Heard Together & Disposed Of By This Consolidated Order. 2. The Appeal Of The Revenue For The Assessment Year 2017-18 Is Taken As The Lead Appeal For Adjudication Of The Issues Involved. The Only Issue Which Has Been Raised In Appeal By The Revenue Is With Regard To Determination Of Quantum Of Deduction U/S.80-Ia Of The Income Tax Act, 1961 (In Short "The Act"). :-2-:

4. Division 20.04.2010 40,93,529 3.39 1,38,77,063 VII/2009-10 5. Division 18.08.2011 1,11,31,745 3.39 3,77,36,616 VIII/2011-12 Total 10,69,94,336 5. The TPO thus determined the Arm's Length Price (ALP) of electricity transferred from section 80-IA eligible windmill division of the assessee to the textile division

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

transfer pricing adjustment for fresh adjudication. Simultaneously, the assessee also challenged the order of Tribunal i.e., original order passed in ITA No.322/Mds/2016 dated 30.06.2016 and also challenged the Tribunal order passed in M.P. No.218/Mds/2016 dated 04.04.2017 before Hon’ble High Court of Madras and the Hon’ble High Court in Tax Case Appeal Nos.480 and 473 of 2017 vide order

ASSISTANT COMMISSIONER OF INCOME TAX, TIRUPUR vs. SRI SHANMUGAVEL MILLS PRIVATE LIMITED, TIRUPUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

transfer of electricity, after taking into consideration the decision of the Hon’ble Supreme Court in Jindal Steel & Power Ltd., the relevant provisions of the Electricity Act and also the amendment in explanation to section 80-IA(8) of the Act. 39. We may particularly draw reference to the decision of the Hon’ble Calcutta High Court in the case

NIPPON PAINT INDIA PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.779/Mds/2016 "नधा"रण वष" /Assessment Year: 2011-12

section 92C(1) of the Act read with Rule 10B of the Income-tax Rules, 1962 (‘the Rules’). 2.5 Erred on facts by comparing the Appellant with the well established companies in applying the BLT. Further, erred on facts and in law in making transfer pricing adjustment without considering suitable adjustments to account for the differences in functional profile