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)

5 Sils Karingattil Jose could not have held to have “received” u/s 56(2)(vii) of the Act, being in the nature of mere creations than transfer in light of (2024) 460 ITR 628 (Guj.) PCIT Vs. Jigar Jashwantlal Shah rejecting the Revenue’s identical stand as under: 6. Section 56(2)(vii)(c) of the Act, reads as under

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)

transfer pricing study by the Appellant. Ground No. 5- To provide appropriate adjustments to the comparable companies 5.1. The Appellant requests the Hon'ble Tribunal to provide appropriate adjustments under Rule 10B to account for, inter alia, differences in (a) marketing adjustment, (b) research and development expenditure adjustment, (c) depreciation adjustment and (d) risk profile between the Appellant

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)

5 Prakash R. Nair v. Dy.CIT, Central Circle (e) Section 80IA(9) specifically excludes deduction qua profits subject to section 80-IA from being claimed as deduction under any other provision of Chapter VIA, which is to be limited to the amount of profit or gain of the enterprise, also referring to section 80AB and decision in Motilal Pesticides

SANATANA DHARMA VIDYASALA,ALAPPUZHA vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), KOCHI, KOCHI

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

transfers the property to A for the same price at which he originally purchased it, he should be liable to pay tax on the basis as if he has received the market value of the property as on the date of resale, if, in the mean- while, the market price has shot up and exceeds the agreed price by more

SANATANA DHARMA EDUCATIONAL AND CULTURAL SOCIETY,ALAPPUZHA vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), KOCHI, KOCHI

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

transfers the property to A for the same price at which he originally purchased it, he should be liable to pay tax on the basis as if he has received the market value of the property as on the date of resale, if, in the mean- while, the market price has shot up and exceeds the agreed price by more

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)

5. The Dispute Resolution Panel erred in its direction confirming that proportionate amount of Rs.1,54,18,632 out of advertisement expenses incurred by appellant in India for the purpose of its business as falling under transfer pricing provisions under section

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)

5. The Dispute Resolution Panel erred in its direction confirming that proportionate amount of Rs.1,54,18,632 out of advertisement expenses incurred by appellant in India for the purpose of its business as falling under transfer pricing provisions under section

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

transfer pricing adjustment of Rs. 3.07.02.519% on Cost-to-Cost Recovery of Salary expenses from AEs a. On the facts and in the circumstances of the case and in law, the Ld. AO/TPO/DRP grossly erred in not appreciating that the recovery of salary expenses of Rs. 14,38,73,097/- (which was rectified by Ld. TPO vide its Order

M/S.KERA FIBERTEX INTERNATIONAL P. LTD,COCHIN vs. THE ACIT, COCHIN

In the result, the appeals by the assessee is allowed, and that by the Revenue, dismissed

Bench: Shri Sanjay Arora (Accountant Member), Shri Manomohan Das (Judicial Member)

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company.” (emphasis, ours) The Controversy 4.1 The law in the matter is, thus, amply clear, and the procedure well laid out, qua which there could therefore possibly be no cleavage of opinion. The issue, as we discern

THE ACIT CORPORATE, COCHIN vs. M/S.KERA FIBERTEX INTERNATIONAL P. LTD, COCHIN

In the result, the appeals by the assessee is allowed, and that by the Revenue, dismissed

Bench: Shri Sanjay Arora (Accountant Member), Shri Manomohan Das (Judicial Member)

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company.” (emphasis, ours) The Controversy 4.1 The law in the matter is, thus, amply clear, and the procedure well laid out, qua which there could therefore possibly be no cleavage of opinion. The issue, as we discern

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

Transfer Pricing Officer (TPO) u/s. 92CA(1) of the Act for the purpose of benchmarking the above international transactions. The TPO vide order dated 28.10.2016 3 Apollo Tyres Ltd. passed u/s. 92CA(3) of the Act suggested upward TP adjustments in respect of corporate guarantee commission provided to Apollo Vredestein BV (AVBV

UST GLOBAL TECHNOLOGY SERVICES (INDIA) PRIVATE LIMITED,KOCHI vs. DCIT,CORPORATE CIRCLE 2(1), KOCHI

In the result, appeal filed by the assessee stands partly allowed\nfor statistical purpose and the stay application is dismissed as\ninfructuous

section 92CA(1) of the Act, to the Transfer Pricing\nOfficer (TPO) for the purpose of determination of ALP in respect of\nthe above international transaction.\n4\nThe TPO vide order dated 09/10/2023 passed u/s. 92CA(3),\nsuggested the TP adjustment in respect of software development\nagreement of Rs. 12,84,50,000/- and also interest on delayed\nreceivables

FEDBANK FINANCIAL SERVICES LIMITED,ERNAKULAM vs. THE DCIT CIRCLE 1(1), KOCHI, KOCHI

In the result, the appeal of the assessee is allowed

Bench: Shri George George K. & Ms. Padmavathy S.Assessment Year : 2017-18

5% of the income u/s.36(1) (viia) (viid) of the Act. Since the amount of provision for bad and doubtful debt did not exceed the amount specified in the section and provision is an allowable expenditure deduction was claimed. Incidentally it is submitted that in respect of standard assets also a provision to the extent Rs.1.53 crores was made which

KERALA STATE CO-OPERATIVE BANK LTD,THIRUVANANTHAPURAM vs. DCIT,CIRCLE-1(1), THIRUVANANHAPURAM

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2018-19

5) The amount referred to in sub-section (4) shall be deemed to be amount of income under-reported for the preceding year in the following order— Page 7 of 14 (a) the preceding year immediately before the year in which the receipt, deposit or investment appears, being the first preceding year; and (b) where the amount added or deducted

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

Transfer Pricing Order made an adjustment of Rs.2,03,38,752/- towards notional guarantee commission in respect of corporate guarantee given by the assessee for its Subsidiary.After receiving the order of the TPO, the Assessing Officer made a draft assessment order u/s 144(1) proposing to make the following adjustments:- i. Addition as proposed by TPO — towards notional Guarantee Commission

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)

transfer of shares. (d) The receipt by way of allotment and purchase of shares is itself receipt of income to the extent of the excess value thereof over their acquisition cost, under section 2(24)(xv) of the Act. (e) There is no ‘short payment’ of sale consideration to the assessee, claimed at Rs.287.50 lakhs. The same is even otherwise

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)

transfer of shares. (d) The receipt by way of allotment and purchase of shares is itself receipt of income to the extent of the excess value thereof over their acquisition cost, under section 2(24)(xv) of the Act. (e) There is no ‘short payment’ of sale consideration to the assessee, claimed at Rs.287.50 lakhs. The same is even otherwise

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. JCIT, RANGE-1, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

transferred to Depositor Education and Awareness Fund. 5. On the facts and in the circumstances of the case and in law, the Id. CIT(A) erred in confirming the order of AO on classification of rural branches for section 36(1) (viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice