M/S.IBS SOFTWARE SERVICES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

business of development and sale of computer software, filed return of income for Assessment Year 2013-2014 on 27/11/2013 declaring income at INR.56,96,08,040/-. The return of income was selected for scrutiny through CASS. During the assessment proceedings, it was noticed from the audit report in Form 3CEB that the Assessee had entered into International Transactions amounting

PLANT LIPIDS (P) LTD.,KADAYIRUPPU vs. DCIT , CORPORATE CIRCLE-2(1), KOCHI

In the result appeal filed by assessee stands allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubeyassessmentyear:2020-21 Plant Lipids (P) Ltd. Kadayiruppu Po Kolenchery Dcit, Vs. Kerala 682 311 Corporate Circle-2(1) Kochi Pan No : Aabcp6061C Appellant Respondent Appellant By : Shri Thomson Thomas, A.R. Respondent By : Shri Sanjit Kumar Das, D.R. Date Of Hearing : 20.02.2025 Date Of Pronouncement : 19.05.2025 O R D E R Perkeshav Dubey: This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The Ao, Assessment Unit, Income Tax Department Dated 19.6.2024 Vide Din No.Itba/Ast/S/143(3)/2024- 25/1065876641(1) For The Ay 2020-21 Passed U/S 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income Tax Act, 1961 (In Short “The Act”). 2. The Assessee Has Raised Following Grounds Of Appeal: Plant Lipids (P) Ltd., Kolencherry, Kerala Page 2 Of 8

business of manufacture and export of spice oils, spice oleoresins and other spice products. For the Assessment Year 2020-21, it filed the return of income on 27.01.2021 declaring a total income of Rs.160,94,63,940/-. In respect of International Transactions entered into by the assessee company, the Assessing officer made a reference to the Transfer Pricing

APOLLO TYRES LTD,COCHIN vs. THE DEPUTY COMMISSIONER OF INCOME TAX, COCHIN

In the result, this ground of appeal stands allowed

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2021-22 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Acit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 10.09.2025

Business loss of the Appellant has been incorrectly and un-lawfully assessed under normal provisions of the Act at Rs. 11,53,70,330/-as against returned income of Rs. NIL.. 3. Regarding transfer pricing

INFOPARKS KERALA,COCHIN vs. THE ACIT, COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

transferred to the assessee-society on 18.9.2003. Built-up space for IT and ITES was to be set-up thereat, targeted at 7.5 lakh sq.ft. annually for the first two years, increasing upto an additional 15 lakh sq.ft. per annum for the next three years. The additional capacity was envisaged to be created by enjoining private sector participation, including through

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

transferred to the assessee-society on 18.9.2003. Built-up space for IT and ITES was to be set-up thereat, targeted at 7.5 lakh sq.ft. annually for the first two years, increasing upto an additional 15 lakh sq.ft. per annum for the next three years. The additional capacity was envisaged to be created by enjoining private sector participation, including through

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

transferred to the assessee-society on 18.9.2003. Built-up space for IT and ITES was to be set-up thereat, targeted at 7.5 lakh sq.ft. annually for the first two years, increasing upto an additional 15 lakh sq.ft. per annum for the next three years. The additional capacity was envisaged to be created by enjoining private sector participation, including through

US TECHNOLOGY INTERNATIONAL P. LTD,TRIVANDRUM vs. THE ACIT, TRIVANDRUM

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Us Technology International Pvt. Ltd. Acit, Circle - 1(1) 621, Nila, Technopark Campus 1St Floor, Aayakar Bhavan Vs. Kariyavattom, Trivandrum 695581 Kowdiar [Pan: Aaacu5628B] Thiruvananthapuram 695003 (Appellant) (Respondent)

income from software development segment >75% for FY 2015-16 and 2016-17, when it actually qualifies all the filters. In this regard, the Appellant has filed a rectification application before the TPO. 3.5. The Ld. AO/DRP erred in accepting the comparable, Aptus Software Labs Pvt. Ltd. that fails TPO's own filters as below; a. Employee cost filter

SHRI.PRAKASH R. NAIR,KOLLAM vs. DCIT, KOLLAM

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

Bench: Shri Sanjay Arora & Shri Manomohan Dasprakash R. Nair Dy.Cit, Central Circle Prop. Dhanya Foods Kollam Kochuppilammoodu Vs. Kollam 691001 [Pan:Abfpn4424P] (Appellant) (Respondent)

transfer price for transactions in Andhra Pradesh which was omitted to be considered in the original return of income. The voluntary act done in good faith even after incorporating the additional sales income of Rs. 6.10 crores would prove the bonafides of the assessee and the fact that there was no wanton concealment. In fact, the revised return of income

APOLLO TYRES LTD.,COCHIN vs. DCIT CORPORATE CIR 1(1), KOCHI

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

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2020-21 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Acit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 10.09.2025

business loss of Rs. 324,09,47,701/-. 3. Regarding transfer pricing adjustment of Rs.56,48,130/- (Corporate IT services) a. That the Ld. TPO/AO/DRP erred in not appreciating that the Transfer Pricing documentation is maintained as per the provisions of the Indian Transfer Pricing Law, and in the absence of any defect, the economic analysis undertaken by the Appellant

AJIT ASSOCIATES PRIVATE LIMITED,ERNAKULAM vs. JCIT, CORPORATE RANGE - 1, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

transfer of ownership or possession rights by the assessee to the buyers of the land and from whom ERF had been received. Reference toward this was made by the AO to Clause-1 of the Agreement dated 17.4.2001, reproducing it at page 4 of the assessment order. The receipt was a business receipt and income thereon, thus, business income

GOOD HOMES PVT LTD,KOCHI vs. DEPUTY COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

transfer of ownership or possession rights by the assessee to the buyers of the land and from whom ERF had been received. Reference toward this was made by the AO to Clause-1 of the Agreement dated 17.4.2001, reproducing it at page 4 of the assessment order. The receipt was a business receipt and income thereon, thus, business income

M/S.JOY ALUKKAS INDIA P. LTD,COCHIN vs. THE ACIT, COCHIN

In the result, the appeal filed by the Assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am& Shri Rahul Chaudharyit (Tp) A No. 119/Coch/2016 (Assessment Year: 2011-12) & It (Tp) A Nos. 38 & 643/Coch/2017 (Assessment Years :2012-13 & 2013-14)

Income Tax dated 29.1.2016 is against facts and law. 5 IT (TP) A No. 119/Coch/2016 & IT (TP) A Nos. 38 & 643/Coch/2017 M/s. Joyalukkas India Pvt. Ltd. 2. The Transfer Pricing Officer, assessing officer and Dispute Resolution are not justified is treating the transactions with AIRas as entered into Deemed Associated Enterprise and consequently holding that the transfer pricing provisions

M/S.JOY ALUKKAS INDIA P. LTD,TRICHUR vs. THE ACIT, ERNAKULAM

In the result, the appeal filed by the Assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am& Shri Rahul Chaudharyit (Tp) A No. 119/Coch/2016 (Assessment Year: 2011-12) & It (Tp) A Nos. 38 & 643/Coch/2017 (Assessment Years :2012-13 & 2013-14)

Income Tax dated 29.1.2016 is against facts and law. 5 IT (TP) A No. 119/Coch/2016 & IT (TP) A Nos. 38 & 643/Coch/2017 M/s. Joyalukkas India Pvt. Ltd. 2. The Transfer Pricing Officer, assessing officer and Dispute Resolution are not justified is treating the transactions with AIRas as entered into Deemed Associated Enterprise and consequently holding that the transfer pricing provisions

M/S.APOLLO TYRES LTD,COCHIN vs. THE PRINCIPAL COMMISSIONER OF INCOMETAX, COCHIN

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

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2013-14 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Dcit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 01.09.2025

business of assessee company. 12 Apollo Tyres Ltd. 11.1 The AO has also erred in considering expenditure on gifts is of personal and not allowed u/s 37(1) of the Income Tax Act 1961. 12. On the facts and in the circumstances of the case and in law, the L4 AO LA Transfer Pricing

THE DCIT, CIRCLE-2(1), THRISSUR vs. SRI.K.P. JOHNY, THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

price - the date of transfer (b) Non-reference to the internal audit report or its findings, vital for share valuation; (c) Complete silence and non-explanation as to how and why payment of sale consideration, being, in clear terms of SA to the party of the first part, the seller, stands made to Manko, the company for purchase of shares

SRI.K.P. JOHNY,THRISSUR vs. THE DCIT, CIRCLE-2(1), THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

price - the date of transfer (b) Non-reference to the internal audit report or its findings, vital for share valuation; (c) Complete silence and non-explanation as to how and why payment of sale consideration, being, in clear terms of SA to the party of the first part, the seller, stands made to Manko, the company for purchase of shares

SILLS KARINGATTIL JOSE,NEDUMKANDOM vs. ITO WARD 2, THODUPUZHA

Appeal is partly allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhsils Karingattil Jose Income Tax Officer Np 3/406, Karingattil Ward - 2, House, Munnar Road Thodupuzha Vs. Nedumkandom P.O. [Pan: Afopj8789C] (Appellant) (Respondent)

income from other sources'. However, receipts from relatives or on the occasion of marriage or under a will are outside the scope of this provision. The existing definition of property for the purposes of section 56(2)(vii) includes immovable property being land or building or both, shares and securities, jewellery, archaeological collection, drawings, paintings, sculpture or any work

THE DCIT, KOCHI vs. M/S.NETWORK SYSTEMS & TECHNOLOGIES P. LTD, ALUVA

In the result, the appeals filed by the Revenue stand partly allowed

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

business of providing software services. The return of income for AY 2012-13 was filed on 30.11.2012 declaring total income of Rs. 37,70,47,100/-. The appellant company also reported the following international transactions: - Sr. Name of the AE Nature of Total amount Method adopted No. international transaction 1 Nest GmbH Provisions of Rs.1,74,47,726 Cost plus