SRI MAHARAJA REFINERIES,ERODE vs. ACIT, CIRCLE-I,, ERODE

The appeal of the assessee is allowed for statistical\npurposes

Transfer Pricing Officer\nfor determining the Arm's Length Price. The TPO (Deputy\nCommissioner of Income-tax, TPO-2(1), Chennai) has passed order\nu/s 92(A)(3) of the Income-tax Act, 1961 suggesting downward\nadjustment of Rs.6,73,54,391/- on account of purchases from\nAssociated Enterprises. Sufficient opportunity was given to the\nassessee for filing the submissions

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 order u/s.92CA(3) of the Act for the AY 2013-14 was completed after the conclusion of the search, wherein the TPO proposed TP downward adjustment of Rs.407.25 crores on the imports from MIPP. The TPO did not propose any adjustment on the receipt of share capital reported in the Form 3CEB. The assessee had filed appeal against

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

92, filing of objections to draft assessment order in terms of Section 144C(2), passing of final order of assessment after expiry of the period for filing of objections in terms of Section 144C(4), issuance of directions by the DRP in terms of Section 144C(12) and passing of final assessment order after receipt of directions from

SRI MAHARAJA REFINERIES,ERODE vs. ACIT, CIRCLE-1, ERODE

Transfer Pricing Officer\nfor determining the Arm's Length Price. The TPO (Deputy\nCommissioner of Income-tax, TPO-2(1), Chennai) has passed order\nu/s 92(A)(3) of the Income-tax Act, 1961 suggesting downward\nadjustment of Rs.6,73,54,391/- on account of purchases from\nAssociated Enterprises. Sufficient opportunity was given to the\nassessee for filing the submissions

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. R K M POWERGEN PVT. LTD., CHENNAI

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

Transfer Pricing order\nu/s.92CA(3) of the Act for the AY 2013-14 was completed after\nthe conclusion of the search, wherein the TPO proposed TP\ndownward adjustment of Rs.407.25 crores on the imports from\nMIPP. The TPO did not propose any adjustment on the receipt of\nshare capital reported in the Form 3CEB. The assessee had filed\nappeal against

HOSPIRA HEALTHCARE INDIA PRIVATE LIMITED,CHENNAI vs. DCIT, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.469/Chny/2017 िनधा<रण वष< /Assessment Year: 2012-13 M/S. Hospira Healthcare India The Dy. Commissioner Of Pvt. Ltd., Vs. Income Tax, Sri-Nivas, New No.86 (Old No.89), Corporate Circle-2(2), Gn Chetty Road, T Nagar, Chennai. Chennai – 600 017. [Pan: Aaabco 2190F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Shri Sriram Seshadri, C.A Jkथ" की ओर से /Respondent By : Shri A. Sasikumar, Cit सुनवाई की तारीख/Date Of Hearing : 25.04.2024 घोषणा की तारीख /Date Of Pronouncement : 22.07.2024 आदेश / O R D E R Per Jagadish, A.M : Aforesaid Appeal Filed By The Assessee Against The Assessment Order Passed By The Dcit, Corporate Circle-2(2), Chennai U/S.143(3) R.W.S. 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) For The Assessment Year 2012-13, In Pursuance Of The Directions Issued By The Dispute Resolution Panel, Bengalore (Hereinafter ‘Drp’) Vide Directions Dated 09.11.2016. :- 2 -:

3) In respect of the profit share also, the assessee could not furnish statement of accounts received from AEs and Deemed AEs and corresponding credit notes raised by the assessees on AEs and deemed AEs. (4) CUP requires a stringent comparison on Transaction to Transaction basis and therefore this office is not in a position to verify the transactions

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE LTU-1, CHENNAI, NUNGAMBAKKAM vs. ORIENT GREEN POWER COMPANY LIMITED , CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunatha

Transfer Pricing adjustment can be examined with regard to the transactions falling u/s 40A(2)(b) of the Act. The finding recorded by the Tribunal in this case reads as under:- 3. At the outset itself, the Ld. Counsel drew our attention to the grounds of appeal wherein the legal issue has been raised, which is as under: "A. Grounds

ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. CARBORUNDUM UNIVERSAL LIMITED, CHENNAI

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Amitabh Shuklaआयकर अपील सं./ It(Tp)A Nos.2, 3 & 4/Chny/2025 िनधा@रण वष@ /Assessment Years: 2012-13, 2013-14 & 2017-18

transfer pricing adjustment in respect of guarantee given for AE to 0.5% of the amount guaranteed. 3.5 The Second issue is regarding the disallowance under Section 14A. The Assessing Officer has disallowed under Section 14A read with Rule 8D @ rate of 1% of the annual average of monthly averages of the opening and closing balances of the value of investment

DEPUTY COMMISSIONER OF INCOMETAX, CHENNAI vs. SAINT - GOBAIN INDIA PRIVATE LIMITED, CHENNAI

In the result, the assessee succeeds

Bench: Shri Aby T. Varkey & Shri Jagadish

transfer pricing adjustment would be non-est. Consequently, the assessee would cease to be an eligible assessee as defined u/s 144C(15)(b) of the Act and therefore, the machinery provisions of Section 144C of the Act would not get triggered in the assessee’s case. In such a scenario, the assessment in the case of the assessee ought

SAINT-GOBAIN INDIA PRIVATE LIMITED,CHENNAI vs. DCIT NCC 8(1), CHENNAI

In the result, the assessee succeeds

Bench: Shri Aby T. Varkey & Shri Jagadish

transfer pricing adjustment would be non-est. Consequently, the assessee would cease to be an eligible assessee as defined u/s 144C(15)(b) of the Act and therefore, the machinery provisions of Section 144C of the Act would not get triggered in the assessee’s case. In such a scenario, the assessment in the case of the assessee ought

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

92,114^ 3,40,34,392 20,54,26,506 16.57 % ^Annexure 5 to Additional Evidence petition dated 01.09.2025 58. Thus, without prejudice to the primary contention that F.Y.14-15, which is the year of formation, should be taken for computing the ratio of transferred machinery, the ld.AR submitted that even if F.Y.2013-14 is to be taken, the assessee would satisfy

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

92,114^\nMachinery transferred\nfrom LU1 (Page 137 of\nPaperbook)\n(B)\n3,40,34,392\nTotal Machinery\ncapitalized in\nLU2 (C = A + B)\n20,54,26,506\n% of transferred\nmachinery from\nLU1 to total\nmachinery\n(B/C)\n16.57%\n^Annexure 5 to Additional Evidence petition dated 01.09.2025\n59. Thus, without prejudice to the primary contention that F.Y.14-15, which

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) r.w.s. 263 of the Act dated 31.03.2006 by determining the assessee

SIEMENS GAMESA RENEWABLE POWER PRIVATE LIMITED,CHENNAI vs. DCIT, CORPORATE CIRCLE 2(1), CHENNAI

The appeal stand partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.71/Chny/2018 (िनधा<रणवष< / Assessment Year: 2013-14) & आयकरअपीलसं./It(Tp)A No.88/Chny/2018 (िनधा<रणवष< / Assessment Year: 2014-15) M/S. Siemens Gamesa Renewable Power Dcit Private Limited Corporate Circle-2(1) (Formerly Known As Gamesa Renewable Chennai. बनाम/ Pvt.Ltd. Before That Known As Gamesa Wind Vs. Turbine Pvt.Ltd.) 334, Futura Tech Park, 8Th Floor, Block B Sholinganallur, Chennai-600 119. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aaccg-6027-C (अपीलाथ"/Appellant) : ( !थ" / Respondent) अपीलाथ" की ओर से/ Appellant By : Shri B. Ramakrishnan (Fca) & Shri Shrenik Chordia (Ca) – Ld.Ar !थ" की ओर से/Respondent By : Shri Sasi Kumar (Cit) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 12-07-2023 घोषणाकीतारीख/Date Of Pronouncement : 08-09-2023 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeals By Assessee For Assessment Years (Ay) 2013- 14 & 2014-15 Have Identical Facts & Issues. The Appeal For Ay 2013- 14 Arises Out Of Final Assessment Order Dated 30-10-2017 Passed By Ld.

92,000/- on payment of Royalty to Associated Enterprise ("AE") for use of Technical Know-how for manufacture of Wind operated Electric Generator as suggested by the Transfer Pricing Officer, ("TPO") stating that the same pertains to the bought-out components. 3.For that the Learned Assessing Officer, based on the directions issued by theDRP erred in determining

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

92,114^\nMachinery transferred\nfrom LU1 (Page 137 of\nPaperbook)\n(B)\n3,40,34,392\nTotal Machinery\ncapitalized in\nLU2 (C = A + B)\n20,54,26,506\n% of transferred\nmachinery from\nLU1 to total\nmachinery\n(B/C)\n16.57%\n^Annexure 5 to Additional Evidence petition dated 01.09.2025\n\n58.\nThus, without prejudice to the primary contention that F.Y.14-15

M/S. MAHINDRA RESIDENTIAL DEVELOPERS LTD.,,KANCHIPURAM vs. ITO, CORPORATE WARD - 4 (1),, CHENNAI

In the result, the appeals of the assessee for AYs 2012-13, 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.870/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 & आयकर अपील सं./Ita Nos.338 & 339/Chny/2020 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

92 taxmann.com 10) wherein on similar facts, the Hon’ble High Court had observed that sale of residential units by co-developer in the SEZ was not an activity of development of SEZ and had thus upheld the AO’s action disallowing the deduction u/s 80-IAB of the Act. The Ld. CIT, DR thereafter took us through the provisions

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

92,814/- had been claimed as deduction u/s 35(2AB) of the Act. The AO is noted to have held that normal deduction for the revenue expenditure was allowable and therefore disallowed the weighted component of deduction claimed u/s 35(2AB), which was ascertained at Rs.387,57,96,408/-. With regard to the balance R&D expenditure of capital nature

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

92,814/- had been claimed as deduction u/s 35(2AB) of the Act. The AO is noted to have held that normal deduction for the revenue expenditure was allowable and therefore disallowed the weighted component of deduction claimed u/s 35(2AB), which was ascertained at Rs.387,57,96,408/-. With regard to the balance R&D expenditure of capital nature