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

transfer pricing issues and disallowance under Section 14A, with decisions made on each point based on the facts and relevant legal precedents. The disallowance under Section 14A was restricted to the extent of exempt income.", "result": "Allowed", "sections": [ "Section 143(3)", "Section 92CA(3)", "Section 144C", "Section 43

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

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

pricing adjustments, disallowance under Section 14A, and the exclusion/inclusion of comparable companies in benchmarking analyses.", "result": "Allowed", "sections": [ "Section 14A", "Section 32(1)(ii)", "Section 43(1)", "Section 43(6)", "Rule 8D", "Section 92CA(3)", "Section 92C(3)" ], "issues": "Allowability of depreciation on goodwill arising from amalgamation and transfer

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

pricing issues.", "result": "Allowed", "sections": [ "Sec 14A", "Sec 92CA(3)", "Sec 92C(3)", "Sec 43(1)", "Sec 43(6)", "Sec 32(1)(ii)", "Rule 8D" ], "issues": "1. Whether goodwill arising from amalgamation is eligible for depreciation. 2. Whether disallowance under Section 14A can exceed exempt income. 3. Transfer

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

price after giving a reasonable opportunity to the assessee. 40. The next ground of appeal is with regard to disallowance of `1.68 Crores under Section 14A of the Act. 41. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the CIT(Appeals) deleted `1.68 Crores under Section 14A of the Act on the ground that the investment

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

price after giving a reasonable opportunity to the assessee. 40. The next ground of appeal is with regard to disallowance of `1.68 Crores under Section 14A of the Act. 41. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the CIT(Appeals) deleted `1.68 Crores under Section 14A of the Act on the ground that the investment

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

price after giving a reasonable opportunity to the assessee. 40. The next ground of appeal is with regard to disallowance of `1.68 Crores under Section 14A of the Act. 41. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the CIT(Appeals) deleted `1.68 Crores under Section 14A of the Act on the ground that the investment

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

price after giving a reasonable opportunity to the assessee. 40. The next ground of appeal is with regard to disallowance of `1.68 Crores under Section 14A of the Act. 41. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the CIT(Appeals) deleted `1.68 Crores under Section 14A of the Act on the ground that the investment

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

price after giving a reasonable opportunity to the assessee. 40. The next ground of appeal is with regard to disallowance of `1.68 Crores under Section 14A of the Act. 41. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the CIT(Appeals) deleted `1.68 Crores under Section 14A of the Act on the ground that the investment

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

price after giving a reasonable opportunity to the assessee. 40. The next ground of appeal is with regard to disallowance of `1.68 Crores under Section 14A of the Act. 41. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the CIT(Appeals) deleted `1.68 Crores under Section 14A of the Act on the ground that the investment

DOOWON AUTOMOTIVE SYSTEMS INDIA PRIVATE LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1016/Mds/2015 "नधा"रण वष" / Assessment Year : 2010-11 M/S Doowon Automotive Systems India Pvt. Ltd., The Deputy Commissioner Of Plot No.B-19 & 20, Sipcot V. Income Tax, Industrial Park, Oragadam, Corporate Circle – 1(1), Sriperumbudur Taluk, Chennai - 600 034. Kancheepuram District-602 105. Pan : Aaccd 4172 F (अपीलाथ"/Appellant) (""यथ"/Respondent)

43,259/- towards basic Customs duty. The comparable companies taken by the Transfer Pricing Officer and the DRP are established companies and they have purchased the components to the extent of 84% in India. Since the assessee-company is at inception stage, they could not pass the Customs duty to its customers. Therefore, according to the Ld. counsel, the assessee

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

transfer of electricity to be Rs.10,69,94,336/- which in effect lead to the section 80-IA claim of the assessee being reduced by Rs.7,71,64,134/- (Rs.18,41,58,470 less Rs.10,69,94,336). 7. Aggrieved, the said issue was raised in appeal before the first appellate authority, i.e., the Commissioner of Income Tax (Appeals

GAMESA RENEWABLE PRIVATE LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, both the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

Transfer Agreement. Therefore, the claim of arm’s length price on royalty claimed on development of revenue was determined as ‘Nil’. Before us, the assessee explained the activities, which involved high degree of expertise and cannot be undertaken directly by semi-skilled or unskilled workmen, which is as follows:- Wind farm development Erection & Commissioning - Providing guidelines to use Environmental sustainability

GAMESA RENEWABLE PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, both the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

Transfer Agreement. Therefore, the claim of arm’s length price on royalty claimed on development of revenue was determined as ‘Nil’. Before us, the assessee explained the activities, which involved high degree of expertise and cannot be undertaken directly by semi-skilled or unskilled workmen, which is as follows:- Wind farm development Erection & Commissioning - Providing guidelines to use Environmental sustainability

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

transferred to the bank/financing institution at a value lower to the realizable value c. Through factoring, neither a debt is incurred nor is money borrowed. There is only a change in the ownership of the receivable at a price lower to its realizable value d. This is also not covered by the definition of interest given under section

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

transferred to the bank/financing institution at a value lower to the realizable value c. Through factoring, neither a debt is incurred nor is money borrowed. There is only a change in the ownership of the receivable at a price lower to its realizable value d. This is also not covered by the definition of interest given under section

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

transferred to the bank/financing institution at a value lower to the realizable value c. Through factoring, neither a debt is incurred nor is money borrowed. There is only a change in the ownership of the receivable at a price lower to its realizable value d. This is also not covered by the definition of interest given under section

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

transferred to the bank/financing institution at a value lower to the realizable value c. Through factoring, neither a debt is incurred nor is money borrowed. There is only a change in the ownership of the receivable at a price lower to its realizable value d. This is also not covered by the definition of interest given under section

PANASONIC CORPORATION,HARYANA vs. DCIT, CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

Transfer Pricing Officer as provided under Section 92CA(4) of the Act. 21. Now, coming to merit of the appeal, the Assessing Officer disallowed the claim of the assessee only on the ground that the assessee received assessee fee for technical service. The Assessing Officer and DRP also found that the technical knowledge 13 I.T.A. No.1483/Chny/17 was made available