ACE CABS LIMITED,DELHI vs. ACIT, CIRCLE-1(2), DELHI, C R BUILDING

In the result, appeal filed by the assessee is allowed

Bench: Shri Saktijit Dey, Hon’Ble & Shri S.Rifaur Rahmanace Cabs Limited, Vs. Acit, Circle 1 (2), 562, Silver Oak Lane, Delhi. M.G. Road, Ghitorni, Delhi – 110 030. (Pan : Aaica4494R) (Appellant) (Respondent) Assessee By : Shri Gaurav Jain, Advocate Ms. Bharti Sharma, Advocate Revenue By : Shri Kanv Bali, Sr. Dr Date Of Hearing : 23.07.2024 Date Of Order : 04.10.2024 Order Per S.Rifaur Rahman,Am: 1. This Appeal Has Been Filed By The Assessee Against The Order Of Ld. Commissioner Of Income Tax (Appeals), New Delhi [“Ld. Cit(A)”, For Short]/ National Faceless Appeal Centre (Nfac) Dated 12.12.2023 For The Assessment Year 2017-18. 2. The Assessee Submitted An Application Under Rule 29 Of The Itat Rules For Admitting The Additional Evidences & The Contents Thereof Are Reproduced Below:-

Section 68 of the Act, based on the following allegations: 5 a) M/s Click Cab Technology LLP lacks the creditworthiness to make such a big investment on the ground that its statement of income & expenditure and ITR showed Nil Income and also due to non-compliance of notices issued u/s 133(6) of the Act. The AO failed to appreciate

AMWAY INDIA ENTERPRISES PVT. LTD.,NEW DELHI vs. ADDI. NATIOANL E- ASSESSMENT CENTRE, NEW DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri R.K. Panda & Shri Challa Nagendra Prasadassessment Year: 2016-17 Amway India Enterprises Pvt. Ltd., Vs Addl. National E-Assessment 1St Floor, Elegance Tower, Centre, Plot No.8, Non Heirarchial New Delhi. Commercial Centre, Jasola Vihar, New Delhi – 110 025. Pan: Aaaca5603Q (Appellant) (Respondent) Assessee By : Shri Sudesh Kumar Garg, Advocate Ms Bhavya Garg, Ca & Shri Prince Bansal, Ca Revenue By : Shri Surender Pal, Cit, Dr Date Of Hearing : 08.02.2022 Date Of Pronouncement : 30.03.2022 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 30Th April, 2021 Passed By The Ao U/S 143(3)/144C(13) R.W.S. 144B Of The It Act, 1961 For The Assessment Year 2016-17. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Wholly Owned Subsidiary Of Amway Corporation Engaged In The Business Of Direct Selling Of Consumer Products. It Sells Its Products Through Multi-Level Marketing (Mlm). Mlm Marketing Allows Direct Sellers To Build A Business Through Their Own Sales Efforts & Inviting Others To Become Direct Sellers. The Assessee Filed Its Return Of Income On 30.11.2016 Declaring A Loss Of Rs.113,69,23,009/-. Since The Assessee Had Entered Into Certain International Transactions With Its Ae, The Ao Referred The Matter To The Tpo For Determination Of The Alp Of The International Transaction Entered Into By It.

TP assessment proceedings, the TPO noted that the assessee has reported the following international transactions in the Form 3CB:- 3. The TPO noted that the tax payer has benchmarked most of the transactions, international transactions as well as specified domestic transactions by using entity 2 level aggregation approach and using TNMM method as the most appropriate method. 4. According

LIUGONG INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed, as indicated above

Bench: Shri I.C. Sudhir & Shri L.P. Sahu

TP study report on the basis of CUP method. If there is any difference of opinion then the ld. TPO shall grant adequate opportunity of hearing to the appellant. 22. In view of this, ground No. 1 of appeal of the assessee is set aside to the file of ld. AO/TPO with the above directions. In the result, ground

(Now known as Sony India Limited)

Sections (1) and (2) to Section 92C are applicable to the assessed, as well as the Assessing Officer invoking power under Sub-Section (3) to Section 92C of the Act. As noted above, sub-section (2) to Section 92C stipulates that most appropriate method, out of the methods specified in sub-section (1) shall be applied to determine

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal is allowed

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Assessment Year: 2007-08 Maruti Suzuki India Ltd., Vs. Additional Cit, Plot No.1, Nelson Mandela Road, Range-6, Vasant Road, New Delhi. New Delhi. (Pan: Aaacm0829Q) (Appellant) (Respondent) Assessee By: S/Shri Ajay Vohra, Sr. Adv. Neeraj Jain, Rohit Jain, Adv. Romit Katyal & Ms. Tejasvi Jain, Cas Department By:Shri Amrendra Kumar, Cit(Dr)

68,020/- under section 14A of the Act. 6.1 That the assessing officer erred on facts and in law in proceeding to make disallowance under section 14A of the Act simply on the basis of method/ formula prescribed in Rule 8D of the I.T. Rules without appreciating that: (a) the said Rule was not at all applicable to the year

M/S. HONDA SIEL POWER PRODUCTS LTD.,GAUTAM BUDH NAGAR vs. DCIT, NEW DELHI

In the result, both the appeals of the assessee-company are partly allowed for statistical purposes

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

68,200 against the returned total income of Rs.31,80,76,602. Transfer Pricing Issues: 2. That the assessing officer erred on facts and in law in making addition to the income of the appellant to the extent of Rs.11,36,67,464 on account of the alleged difference in the arm’s length price of international transactions

DCIT, CIRCLE-13(1), NEW DELHI vs. JARUL INFRASTRUCTURE PVT. LTD, NEW DELHI

In the result, the Revenue’s appeal is dismissed

Bench: Shri Shamim Yahya & Shri Anubhav Sharma[Assessment Year: 2012-13]

methods. It is the obligation of every citizen to pay the taxes honestly without resorting to subterfuges”. 8.1 In the instant case also, a colourable device has been created to camouflage the credit of the amount to Indiabulls Power Ltd. (now RattanIndia Power Ltd.) as a capital receipt to avoid the test of section 68 of the Income

M/S. GL LITMUS EVENTS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

Appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri K. N. Charygl Litmus Events Pvt. Ltd, The Assistant Commissioner Vs. B-90, Second Floor, Of Income Tax Vishwakarma Colony, New Delhi Central Circle-7, New Delhi Pan: Aadcg6909N (Appellant) (Respondent)

section 145, which concerns are correct and complete account but which, in the opinion of the officer, does not disclose the true and proper income.” 35. Further at page number 53 the honourable Supreme Court further held that:- “it is not only the right but the duty of the assessing officer to consider whether or not the books disclose

NOBLE RESOURCE & TRADING INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal is allowed with above direction

Bench: Shri Amit Shukla & Shri Prashant Maharishi

68,286/- (before adjustment of brought forward loss) as against a returned loss of Rs. 34,80,86,014/-, and thereby making an adjustment of Rs. 1,09,82,272/-. Noble Resources & Training India Pvt. Ltd Vs.DCIT, ITA No. 1827 & 1847/Del/2015 (Assessment Year: 2009-10 & 2010-11) 1.1. That on the facts of the case

NOBLE RESOURCES & TRADING INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal is allowed with above direction

Bench: Shri Amit Shukla & Shri Prashant Maharishi

68,286/- (before adjustment of brought forward loss) as against a returned loss of Rs. 34,80,86,014/-, and thereby making an adjustment of Rs. 1,09,82,272/-. Noble Resources & Training India Pvt. Ltd Vs.DCIT, ITA No. 1827 & 1847/Del/2015 (Assessment Year: 2009-10 & 2010-11) 1.1. That on the facts of the case

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee is allowed in part for statistical purposes

Bench: Shri N.K. Saini & Shri K.N. Charry

section 14A of the Act, where the assessee had sufficient surplus funds and there was no finding by the assessing officer of any direct nexus of borrowed funds with investments: ITA No.-6021/Del/2012 6.11. Lastly it is contended on behalf of the assessee that the disallowance computed under section 14A of the Act is incorrect since while computing disallowance

MANKIND PHARMA LIMITED,DELHI vs. DCIT, CIRCLE-1(1)(1), MEERUT

In the result, the additional Ground No

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

68,000 as against Rs.112,92,10,780 claimed by the appellant towards expenditure incurred on scientific research. 5.1 That the assessing officer failed to appreciate that the appellant having approved R&D Centres and having fulfilled the conditions of section 35(2AB) of the Act, is entitled to weighted deduction in respect of the entire gross expenditure incurred

ECOENERGY INSIGHTS LTD ( FORMERLY KNOWN AS CHUBB ALBA CONTROL SYSTEMS P.LTD),NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

Bench: Shri S. Rifaur Rahman & Shri Anubhav Sharmaecoenergy Insights Ltd., Vs. Dcit, (Formerly Known As Chubb Alba Control Circle 4 (2), Systems P. Ltd.), New Delhi. Ground Floor, 18, Netaji Subhash Marg, Daryaganj, New Delhi – 110 002. (Pan :Aaaca0031C) (Appellant) (Respondent) Assessee By : Shri Nageshwar Rao, Advocate Shri Parth, Advocate Shri Pratik Rath, Advocate Revenue By : Shri S.K. Jadhav, Cit Dr Date Of Hearing : 12.08.2025 Date Of Order : 10.11.2025 O R D E R Per S. Rifaur Rahman: 1. This Appeal Preferred By The Assessees Is Directed Against The Assessment Order Dated 25.07.2022Passed By The Assessment Unit, Income Tax Department Under Section 147 Read With Section 144C(13) R.W.S. 144B Of The Income-Tax Act, 1961 (For Short ‘The Act”) For Ay 2018-19 Pursuant To The Directions Of The Dispute Resolution Panel U/S 144C(5) Of The Act.

Method 0 TOTAL 4600756532 3 4. After considering the TP study submitted by the assessee, the TPO applied various filters to benchmark each international transactions and proposed following TP adjustments :- Sl. No. Particulars Amount 1. Purchase of goods 2,56,08,980 2. Transfer of specified assets 39,00,60,000 3. Receipt

M/S YAKULT DANONE INDIA PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result appeal filed by assessee stands allowed

Bench: Shri R.K.Panda & Smt. Beena A Pillaia.Y. 2011-12 Yakult Danone India P Ltd. D.C.I.T. Circle 27(1) 16, 1St Floor Vs. New Delhi Community Centre Okhla Industrial Area, Phase I New Delhi

method. S.92C (I) thus is explicit that the only manner of effecting a TP adjustment is to substitute the transaction price with the ALP so determined. The second proviso to Section 92C(2) provides a 'gateway' by stipulating that if the variation between the ALP and the transaction price does not exceed the specified percentage, no TP adjustment

M/S. DENSO INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Denso India Pvt. Ltd. Vs Dcit B-1/D4, Ground Floor, Circle-7(1) Mohan Cooperative Industrial New Delhi Estate, Mathura Road New Delhi (Respondent) Aaacd4255F (Appellant) Appellant By Sh. Ravi Sharma, Adv & Sh. Anubhav Rastogi, Adv Respondent By Sh. Surendar Pal, Cit Dr Date Of Hearing 01.09.2020 Date Of Pronouncement 23.11.2020

sections 234A, 234B and 234C of the Act, based on the draft assessment which is bad in law. The above objections are without prejudice to each other.” 3. The assessee M/s Denso India Limited is engaged in the business of manufacturing and sale of wide range of automobile components and other auto electrical components etc. Denso Corporation, Japan an automobile

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 467/Del/2014 (A.Y 2009-10)

section 145A were not applicable as the assessment year under consideration was 1995-96. In view of the detailed discussion supra with reference to the applicability of section 145A to the year in question, there can be no escape from valuation of purchase, sale and inventories under the inclusive method. We, therefore, direct the AO to recast Profit and loss

TELENOR (INDIA) COMMUNICATIONS PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 25(1), NEW DELHI

In the result appeal of assessee is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri Prashant Maharishi

TP Act. Accordingly, the capital gains cannot be computed and taxable in the year under consideration. The final taxability of gain or loss, if any, could be considered in the year in which all the claims and counter claims are settled by the DoT and not in the piecemeal manner. 25. With respect to the last contention that there

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

The appeals are allowed in the above terms, but with no orders as to costs

Section 92C (1) which sets out the different methods of determining the ALP, makes it clear that the transfer pricing adjustment is made by substituting the ALP for the price of the transaction. To begin with there has to be an international transaction with a certain disclosed price. The transfer pricing adjustment envisages the substitution of the price of such