RENAULT INDIA PRIVATE LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, appeal of the assessee is partly allowed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No. 1078/Mds/2017 "नधा"रण वष" /Assessment Year : 2012-2013. M/S. Renault India Private Vs. The Deputy Commissioner Of Limited, Income Tax, No.37 & 38, Asv Ramana Corporate Circle 5(1) Towers, Chennai. 4Th Floor, Venkatnarayana Road, T.N Agar, Chennai 600 017. [Pan Aadcr 2042M ] (अपीलाथ"/Appellant) (""यथ"/Respondent)

46,14,038 CUP Global Management and wages paid Renault SAS Reimbursement of F1 race 68,83,300 CUP related cost received Renault BV Interest paid on ECB 7,51,99,540 CUP Total 102,68,54,664 Ld. Assessing Officer referred the Arms Length Price 5. determination to the ld. Transfer Pricing Officer (herein after referred

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

Transfer Pricing Officer as well as the CIT(Appeals). Therefore, this Tribunal is unable to uphold the order ITA No.1020,1665 & 1386/Mds/10 of the lower authority. However, since the nature of transaction and the relationship was not brought on record, the matter needs to be re-examined by the Assessing Officer. Accordingly, the orders of the lower authorities

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

Transfer Pricing Officer as well as the CIT(Appeals). Therefore, this Tribunal is unable to uphold the order ITA No.1020,1665 & 1386/Mds/10 of the lower authority. However, since the nature of transaction and the relationship was not brought on record, the matter needs to be re-examined by the Assessing Officer. Accordingly, the orders of the lower authorities

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

Transfer Pricing Officer as well as the CIT(Appeals). Therefore, this Tribunal is unable to uphold the order ITA No.1020,1665 & 1386/Mds/10 of the lower authority. However, since the nature of transaction and the relationship was not brought on record, the matter needs to be re-examined by the Assessing Officer. Accordingly, the orders of the lower authorities

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

Transfer Pricing Officer as well as the CIT(Appeals). Therefore, this Tribunal is unable to uphold the order ITA No.1020,1665 & 1386/Mds/10 of the lower authority. However, since the nature of transaction and the relationship was not brought on record, the matter needs to be re-examined by the Assessing Officer. Accordingly, the orders of the lower authorities

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

Transfer Pricing Officer as well as the CIT(Appeals). Therefore, this Tribunal is unable to uphold the order ITA No.1020,1665 & 1386/Mds/10 of the lower authority. However, since the nature of transaction and the relationship was not brought on record, the matter needs to be re-examined by the Assessing Officer. Accordingly, the orders of the lower authorities

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

Transfer Pricing Officer as well as the CIT(Appeals). Therefore, this Tribunal is unable to uphold the order ITA No.1020,1665 & 1386/Mds/10 of the lower authority. However, since the nature of transaction and the relationship was not brought on record, the matter needs to be re-examined by the Assessing Officer. Accordingly, the orders of the lower authorities

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

transfer pricing issue, whereas, in the reassessment proceedings, the Assessing Officer has taken various issues for which the assessment under section 143(1) of the Act was not reopened. 2.1 Per contra, the ld. DR has submitted that the reassessment under section 147 of the Act was validly taken up in this case, which was confirmed

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

transfer pricing issue, whereas, in the reassessment proceedings, the Assessing Officer has taken various issues for which the assessment under section 143(1) of the Act was not reopened. 2.1 Per contra, the ld. DR has submitted that the reassessment under section 147 of the Act was validly taken up in this case, which was confirmed

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

transfer pricing issue, whereas, in the reassessment proceedings, the Assessing Officer has taken various issues for which the assessment under section 143(1) of the Act was not reopened. 2.1 Per contra, the ld. DR has submitted that the reassessment under section 147 of the Act was validly taken up in this case, which was confirmed

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

transfer pricing issue, whereas, in the reassessment proceedings, the Assessing Officer has taken various issues for which the assessment under section 143(1) of the Act was not reopened. 2.1 Per contra, the ld. DR has submitted that the reassessment under section 147 of the Act was validly taken up in this case, which was confirmed

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 pricing regulation as per which adjustment on account of any international transaction is required to be made as per the method prescribed. The learned CIT (DR) pointed out that the TPO in respect of the nine services not availed by the Assessee has treated the payment as nil since no independent party would make any payment for services

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 pricing regulation as per which adjustment on account of any international transaction is required to be made as per the method prescribed. The learned CIT (DR) pointed out that the TPO in respect of the nine services not availed by the Assessee has treated the payment as nil since no independent party would make any payment for services

DCIT, PONDICHERRY vs. TWEEZERMAN (INDIA) PVT. LTD., PONDICHERRY

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

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

Transfer Pricing Officer’s order, the Assessing Officer has passed the assessment order straightaway without passing a draft assessment order. Referring to Section 144C of the Act, the Ld. representative submitted that with effect from 1st October, 2009, the Assessing Officer has to mandatorily pass a draft assessment order if there was a proposal for variation in the loss

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

46 -: ITA Nos.1417 & 1421/Chny/2016 In this context reference is made to Articles III and IV of the original agreement on 15.1.2009 which define te tasks assigned to both the parties. As the parties themselves have not acted upon the terms and conditions as laid out in the said agreement, the appellant cannot now pleaded that other terms and conditions contained

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

46 -: ITA Nos.1417 & 1421/Chny/2016 In this context reference is made to Articles III and IV of the original agreement on 15.1.2009 which define te tasks assigned to both the parties. As the parties themselves have not acted upon the terms and conditions as laid out in the said agreement, the appellant cannot now pleaded that other terms and conditions contained

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

46 -: ITA Nos.1417 & 1421/Chny/2016 In this context reference is made to Articles III and IV of the original agreement on 15.1.2009 which define te tasks assigned to both the parties. As the parties themselves have not acted upon the terms and conditions as laid out in the said agreement, the appellant cannot now pleaded that other terms and conditions contained

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

46 -: ITA Nos.1417 & 1421/Chny/2016 In this context reference is made to Articles III and IV of the original agreement on 15.1.2009 which define te tasks assigned to both the parties. As the parties themselves have not acted upon the terms and conditions as laid out in the said agreement, the appellant cannot now pleaded that other terms and conditions contained

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