DCIT, NEW DELHI vs. M/S. BBC WORLD INDIA (P) LTD., NEW DELHI

In the result appeal of the assessee and the learned assessing officer are allowed for statistical purposes

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

loss. (v) Any agreement containing any kind of riders cannot be so sacrosanct so as to justify the Arm's Length nature of any international transaction. Hence just by entering into an agreement a transaction cannot escape the purview of scrutiny on the ground of law.” 46. The Assessee has raised the following grounds of appeal in ITA No. 5441/Del/2014

DCM SHRIIRAM LTD.,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE- 3 , NEW DELHI

In the result appeal of assessee is partly allowed

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

carried out by the independent valuers. The Ld DRP/AO have thus erred in law in not entertaining the claim of the assessee that stamp valuation exceeds the fair market value of such lands arrived on the basis of said independent valuation and hence no addition should be made u/s 50C of the Act. 5.3 The Id AO has erred

(Now known as Sony India Limited)

forwarding and clearing expenses 3,569,537 17 Misc. Expenses 3,960,471 18 Sales incentive expenses 2,869,355 19 Warehouse running and maintenance expenses 28,795,393 20 IITTF trade fair stall expenses 1,810,963 21 Store general Merchandising 8,400,943 Total 166,12,066 21. Referring to the judgment in LG Electronics India

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

price to mean a price "which is applied or proposed to be applied in a transaction between persons other than associated enterprises in uncontrolled conditions". Since the reference is to "price" and to "uncontrolled conditions" it implicitly brings into play the bright line test. In other words, it emphasises that where the price is something other than what would

LI & FUNG INDIA PVT LTD vs. COMMISSIONER OF INCOME TAX

The appeal is allowed and the order dated 25/11/11 of the ITAT Tribunal, Delhi Branch

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Loss Account. After taking into account this gross income, the net operating income is computed at Rs.601,480,000. Thus, the arm‟s length price is calculated as below: Net Operating income (as calculated above) Rs.601,480,000 Operating income shown by assessee Rs.24,918,814 Difference Rs.576,561,186 Accordingly, the value of the international transaction of the assessee

RANBAXY LABORATORIES LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, we direct the AO to reduce the book profit u/s 115JB of the Act by the amount of reversal of the provision of Rs

Bench: Sh. I. C.Sudhir Judicialmember & Sh. Prashant Maharishia.Y.: - 2008-09 Ranbaxy Laboratories Ltd. Vs Acit 12Th Floor, Devika Tower, Range -15 6, Nehru Place New Delhi New Delhi Pan No. Aaacr0127N (Appellant) (Respondent)

loss account of the units was filed along with the return of income. The net profits of the units were computed by (i) reducing actual direct expenses incurred at respective units; and (ii) allocating and apportioning common expenses debited at head office/research center, based on sales.During the course of the assessment, the ld. AO specifically directed the appellant to justify

STERIA (INDIA) LTD.,NOIDA vs. ADDL. CIT, SPL. RANGE- 8 , NEW DELHI

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

transfer price legislation. 3.3.2(2) For determining Top-up invoice: “Revenue" is defined as inclusive of (a) Revenue as per clause 3.3.1 (b) Foreign exchange currency gain/loss if any (c) Other income earned out of regular business operations and (d) Top-up value to arrive at agreed return. Non-operational and other income, if any will be excluded for determining

STERIA INDIA LTD.,NOIDA vs. ADDL.CIT, SPECIAQL RANGE-8, NEW DELHI

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

transfer price legislation. 3.3.2(2) For determining Top-up invoice: “Revenue" is defined as inclusive of (a) Revenue as per clause 3.3.1 (b) Foreign exchange currency gain/loss if any (c) Other income earned out of regular business operations and (d) Top-up value to arrive at agreed return. Non-operational and other income, if any will be excluded for determining

M/S STERIA NDIA LTD.,,NOIDA vs. ADDL CIT, NEW DELHI

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

transfer price legislation. 3.3.2(2) For determining Top-up invoice: “Revenue" is defined as inclusive of (a) Revenue as per clause 3.3.1 (b) Foreign exchange currency gain/loss if any (c) Other income earned out of regular business operations and (d) Top-up value to arrive at agreed return. Non-operational and other income, if any will be excluded for determining

DCIT, NEW DELHI vs. M/S JSL LTD.,, HISAR

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

Bench: Smt Diva Singh & Shri Prashant Maharishi

forwarded to the assessee on 28/12/2011. 25. Assessee aggrieved with the above order preferred objection before the Dispute Resolution Panel – 1, New Delhi who passed the direction under section 144C (5) of the Income Tax Act 1961 on 3/9/2012. The learned Dispute Resolution Panel with respect to the objection on account of international transaction on export of goods

JINDAL STAINLESS LTD.,HISAR vs. DCIT, NEW DELHI

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

Bench: Smt Diva Singh & Shri Prashant Maharishi

forwarded to the assessee on 28/12/2011. 25. Assessee aggrieved with the above order preferred objection before the Dispute Resolution Panel – 1, New Delhi who passed the direction under section 144C (5) of the Income Tax Act 1961 on 3/9/2012. The learned Dispute Resolution Panel with respect to the objection on account of international transaction on export of goods

M/S. SIS LIVE,GURGAON vs. ACIT, NEW DELHI

In the result the ground No

Bench: I.C.Sudhir & Shri Prashant Maharishisis Live Acit, C/O. Srbc & Associates Llp, Central Circle-17, Room No. Vs. Golf View Corporate Tower B, 356, E-2, Sector-42, Sector Road, Gurgaon Pan:Abrfs4787L (Appellant) (Respondent)

carried away by the Shunglu Committee Report. He submitted that Shunglu Committee Report was made without giving an opportunity of hearing to the assessee and, further, the AO ignored the fact that the Central Bureau of Investigation (CBI) had already filed a closure report in the criminal cases arising out of Shunglu Committee report and such closure report was accepted

SH. EVALUESERVE.COM PRIVATE LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result ground No. 8 of the appeal of the assessee is dismissed

Bench: Shri I. C. Sudhir & Shri Prashant Maharishievalueserve.Com Private Vs. Ito, Ltd, Ward-11(2), 701, Guru Apartments, New Delhi Sector-14, Rohni, New Delhi Pan: Aaace8014F (Appellant) (Respondent)

forward losses from assessment year 2002 – 03 of Rs. 9508868/– before granting deduction under section 10 A of the income tax act. Consequently he reduced the deduction under section 10 A of the income tax act by Rs. 9508868/–. The transfer pricing adjustment of Rs. 162401920/– was also retained. Therefore, aggrieved by the order of the Ld. assessing officer assessee

JAS FORWARDING WORLDWIDE PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result appeal of the assessee for assessment year 2011 – 12 is allowed for statistical purposes

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing)

forwarding segment of the assessee. There is no dispute on the functional profile of the assessee, most appropriate method adopted by the assessee and the margins of the assessee. The learned transfer pricing officer has objected to the adoption of the multiple year data to which assessee does not have an objection now. The only objection is with respect

JAS FORWARDING WORLDWIDE PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result appeal of the assessee for assessment year 2011 – 12 is allowed for statistical purposes

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing)

forwarding segment of the assessee. There is no dispute on the functional profile of the assessee, most appropriate method adopted by the assessee and the margins of the assessee. The learned transfer pricing officer has objected to the adoption of the multiple year data to which assessee does not have an objection now. The only objection is with respect

HUMBOLDT WEDAG INDIA PVT. LTD.,DELHI vs. ACIT, NEW DELHI

In the result ITA 3207/Del/2016 stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

forward that had the assessee taken such services from a third party, it would have charged a mark-up for such services. Hence, on reasonable facts and circumstances, the Hon’ble DRP erred in giving direction for adjustment to the extent of mark-up charged by the AE for providing intra-group services. 7. Without prejudice to all the above

HUMBOLDT WEDAG INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result ITA 3207/Del/2016 stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

forward that had the assessee taken such services from a third party, it would have charged a mark-up for such services. Hence, on reasonable facts and circumstances, the Hon’ble DRP erred in giving direction for adjustment to the extent of mark-up charged by the AE for providing intra-group services. 7. Without prejudice to all the above

ACIT, NEW DELHI vs. M/S. HUMBOLDT WEDAG INDIA PVT. LTD., NEW DELHI

In the result ITA 3207/Del/2016 stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

forward that had the assessee taken such services from a third party, it would have charged a mark-up for such services. Hence, on reasonable facts and circumstances, the Hon’ble DRP erred in giving direction for adjustment to the extent of mark-up charged by the AE for providing intra-group services. 7. Without prejudice to all the above