KARAM SAFETY PRIVATE LIMITED,SITARGANJ vs. THE INCOME TAX OFFICER, WARD-2(3)(5), UDHAM SINGH NAGAR

In the result, both the appeals of the assessee are allowed and that of the Stay Applications are dismissed

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

Transfer Pricing Officer 3(2)(2) (“TPO”) for determination of arm’s length price of the specified domestic transactions (“SDT”) / international transactions undertaken by the Applicant. 9. The TPO vide order dated 30 January 2019 held that the applicant has earned more than ordinary profits from its Section 80-IC business and proposed an adjustment of Rs.5

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, DDIT/ADIT (INTERNATIONAL TAXATION), CIRCLE -1, DEHRADUN

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

transfer pricing documentation by applying the Transactional Net Margin Method (‘TNMM’). Since the profit margin of the assessee at 33.95% was higher than the median margin of 10.16% earned by the comparable companies, the transaction was considered to be at arm’s length. The TPO, however, relying upon the orders for the earlier years, rejected the TNMM method applied

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

Transfer Pricing Officer, but it is beyond his authority to question the wisdom of Assessee. It is not the prerogative of revenue to direct Assessee to conduct its business in a particular manner. It is also not proper to ask and Assessee to conduct its business in a manner which is understood by the revenue, despite heavy business risk

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN, UTTARAKHAND

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

Transfer Pricing Officer, but it is beyond his authority to question the wisdom of Assessee. It is not the prerogative of revenue to direct Assessee to conduct its business in a particular manner. It is also not proper to ask and Assessee to conduct its business in a manner which is understood by the revenue, despite heavy business risk

ABHISHEK AGARWAL,U S NAGAR vs. ACIT, CENTRAL CIRCLE, HALDWANI

In the result the appeals filed by the assessee are allowed

Bench: Shri Amit Shukla & Shri B.R.R. Kumarassessment Year: 2010-11

1. 02.03.2011 Sunview Retail/CN#_23493 Rs, 50,00,000/- 02.03.2011 Sunview Retail/ CN#_23497 Rs. 25,00,000/- 2. 3. 05.03.2011 Sunview Retail/CN#038102 Rs. 25,00,000/- 4. 07.03.2011 Sunview Retail/CN#2_9801 Rs, 50,00.,000/- 5. 10.03.2011 Sunview Retail/CN# 2_9802 Rs. 25,00,000/- 10.03.2011 Sunview Retail Receipt Rs. 25,00,000/- 6. Saurabh Agarwal Amount

RUKMAN AGARWAL,U S NAGAR vs. ACIT, CENTRAL CIRCLE, HALDWANI

In the result the appeals filed by the assessee are allowed

Bench: Shri Amit Shukla & Shri B.R.R. Kumarassessment Year: 2010-11

1. 02.03.2011 Sunview Retail/CN#_23493 Rs, 50,00,000/- 02.03.2011 Sunview Retail/ CN#_23497 Rs. 25,00,000/- 2. 3. 05.03.2011 Sunview Retail/CN#038102 Rs. 25,00,000/- 4. 07.03.2011 Sunview Retail/CN#2_9801 Rs, 50,00.,000/- 5. 10.03.2011 Sunview Retail/CN# 2_9802 Rs. 25,00,000/- 10.03.2011 Sunview Retail Receipt Rs. 25,00,000/- 6. Saurabh Agarwal Amount

SAURABH AGARWAL,U S NAGAR vs. ACIT, CENTRAL CIRCLE, HALDWANI

In the result the appeals filed by the assessee are allowed

Bench: Shri Amit Shukla & Shri B.R.R. Kumarassessment Year: 2010-11

1. 02.03.2011 Sunview Retail/CN#_23493 Rs, 50,00,000/- 02.03.2011 Sunview Retail/ CN#_23497 Rs. 25,00,000/- 2. 3. 05.03.2011 Sunview Retail/CN#038102 Rs. 25,00,000/- 4. 07.03.2011 Sunview Retail/CN#2_9801 Rs, 50,00.,000/- 5. 10.03.2011 Sunview Retail/CN# 2_9802 Rs. 25,00,000/- 10.03.2011 Sunview Retail Receipt Rs. 25,00,000/- 6. Saurabh Agarwal Amount

SHIV KUMAR AGARWAL,U S NAGAR vs. ACIT, CENTRAL CIRCLE, HALDWANI

In the result the appeals filed by the assessee are allowed

Bench: Shri Amit Shukla & Shri B.R.R. Kumarassessment Year: 2010-11

1. 02.03.2011 Sunview Retail/CN#_23493 Rs, 50,00,000/- 02.03.2011 Sunview Retail/ CN#_23497 Rs. 25,00,000/- 2. 3. 05.03.2011 Sunview Retail/CN#038102 Rs. 25,00,000/- 4. 07.03.2011 Sunview Retail/CN#2_9801 Rs, 50,00.,000/- 5. 10.03.2011 Sunview Retail/CN# 2_9802 Rs. 25,00,000/- 10.03.2011 Sunview Retail Receipt Rs. 25,00,000/- 6. Saurabh Agarwal Amount