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)

Section (2) to Section 14A of the Act and sub Rule (1) to Rule 8D of the Rules. 14. The view and legal ratio expressed above is not being elucidated for the first time. The Delhi High Court in Maxopp Investment Ltd. v. CIT [2012] 347 ITR 272/203 Taxman 364/15 taxmann.com 390 has observed:- 'Scope of sub-sections

RAJ SHEELA GROWTH FUND (P) LTD.,NEW DELHI vs. ITO, WARD- 21(1), NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L. P. Sahu

Section 124 are not attracted.” The aforesaid clarification by the Hon’ble Jurisdictional High Court clearly clinches the issue that if the case is being transferred from one Assessing Officer having jurisdiction over the assessee to another assessing officer who otherwise was not having the jurisdiction in terms of direction of the Board u/s.120 and 124 of the Act, then

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

In the result, ITA NO. 7691/Del/2017 stands allowed

Bench: Shri N.S. Saini & Shri Sudhanshu Srivastava

transfer pricing related provision which is in the nature of a SAAR (specific anti- abuse rule), and that every anti-abuse legislation, whether SAAR (specific anti-abuse rule) or GAAR (general anti-abuse rule), is a legislation seeking the taxpayers to organise their affairs in a manner compliant with the norms set out in such anti-abuse legislation. An anti

AMADEUS INDIA PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 2(2), NEW DELHI

In the result, ITA NO. 7691/Del/2017 stands allowed

Bench: Shri N.S. Saini & Shri Sudhanshu Srivastava

transfer pricing related provision which is in the nature of a SAAR (specific anti- abuse rule), and that every anti-abuse legislation, whether SAAR (specific anti-abuse rule) or GAAR (general anti-abuse rule), is a legislation seeking the taxpayers to organise their affairs in a manner compliant with the norms set out in such anti-abuse legislation. An anti

AMADEUS INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA NO. 7691/Del/2017 stands allowed

Bench: Shri N.S. Saini & Shri Sudhanshu Srivastava

transfer pricing related provision which is in the nature of a SAAR (specific anti- abuse rule), and that every anti-abuse legislation, whether SAAR (specific anti-abuse rule) or GAAR (general anti-abuse rule), is a legislation seeking the taxpayers to organise their affairs in a manner compliant with the norms set out in such anti-abuse legislation. An anti

GOODYEAR INDIA LTD.,,FARIDABAD vs. ACIT, NEW DELHI

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

Section 92C(3) of the Act, read with the Rules. It would, among other aspects, refer to the method adopted and whether reliability and authenticity of the arm‘s length determination is affected or corrupted. XXX 91. In case the tested party is engaged in single line of business, there is no bar or prohibition from applying the TNM Method

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

section 40(a)(i) are directed to be deleted. Accordingly, these grounds of appeal stand allowed. In view of this decision of co-ordinate Bench in the case of assessee, the advance ruling relied on by the ld. DR does not help the revenue, as the said ruling is binding on that applicant and not upon the Tribunal u/s. 245S

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

price of the international transaction of IT services was determined by selecting 14 comparable companies whose average profit level indicator was 16.89%. Against this assessee is in appeal before us. 63. The first contention of the assessee is that there is an incorrect computation of operating profit margin of the assessee as foreign exchange income amounting

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

price of the international transaction of IT services was determined by selecting 14 comparable companies whose average profit level indicator was 16.89%. Against this assessee is in appeal before us. 63. The first contention of the assessee is that there is an incorrect computation of operating profit margin of the assessee as foreign exchange income amounting

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

price of the international transaction of IT services was determined by selecting 14 comparable companies whose average profit level indicator was 16.89%. Against this assessee is in appeal before us. 63. The first contention of the assessee is that there is an incorrect computation of operating profit margin of the assessee as foreign exchange income amounting

JINDAL STEEL & POWER LTD.,HISAR vs. JCIT, HISAR

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Suchitra Kambledr. B. R. R. Kumar(Through Video Conferencing)

Pricing Officer passed under sub- section (3) of Section 92CA. For this class of assesses, it prescribes a collegium of three commissioners, once objections are preferred. Dispute Resolution Panel’s powers are similar with that of CIT(A), including the power to confirm, reduce or enhance the variation proposed and to consider the issues not agitated by the Assessee

M/S. ASIAN HONDA MOTOR CO. LTD.,,NEW DELHI vs. DCIT, INTL. TAXATION, NEW DELHI

In the result additional ground raised by the assessee is allowed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiasian Honda Motor Co. Ltd, Dcit, C/O. Pds Legal Atmaram Int. Taxation Vs. Mansion, Office No. 7, First Floor, Kg Marg, New Delhi Pan:Aaica2531P (Appellant) (Respondent)

Transfer Pricing Officer before the said date, or a reference under sub-section (1) is made on or after the 1st day of June, 2007, an order under sub-section (3) may be made at any time before sixty days prior to the date on which the period of limitation referred to in section 153, or as the case

ANALJIT SINGH,DELHI vs. DCIT, CIRCLE- 16(2), DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri O.P.Kant

127 (Del.) 21. Clarifying the intention of legislature, Mr. Vohra submitted that, wherever the legislature intended to substitute the actual consideration with the fair market value, provision to the said effect has been specifically prescribed in the Statute, for instance, Section 50C prescribed for substitution of actual consideration in case of transfer of land and/ or building with circle rate

DCIT, NEW DELHI vs. M/S DABUR INDIA LTD,, NEW DELHI

In the result appeal of the assessee is partly allowed for statistical purposes and that of the department is dismissed

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm Ita No. 3257/Del/2013 : Asstt. Year : 2006-07 Dabur India Ltd., Vs Asstt. Commissioner Of Income 8/3, Asaf Ali Road, Tax, Central Circle-22, New Delhi New Delhi (Appellant) (Respondent) Pan No. Aaacd0474C

Section 92 of the Act it would be clear that the income arising from an international transaction shall be computed having regard to the arm’s length price which shall be determined by any of the 5 methods prescribed in Sub-Section (1) of Section 92 of the Act which are following: “(a) Comparable and controlled price method; (b) Resale

M/S DABUR INDIA LTD.,,DELHI vs. ACIT, NEW DELHI

In the result appeal of the assessee is partly allowed for statistical purposes and that of the department is dismissed

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm Ita No. 3257/Del/2013 : Asstt. Year : 2006-07 Dabur India Ltd., Vs Asstt. Commissioner Of Income 8/3, Asaf Ali Road, Tax, Central Circle-22, New Delhi New Delhi (Appellant) (Respondent) Pan No. Aaacd0474C

Section 92 of the Act it would be clear that the income arising from an international transaction shall be computed having regard to the arm’s length price which shall be determined by any of the 5 methods prescribed in Sub-Section (1) of Section 92 of the Act which are following: “(a) Comparable and controlled price method; (b) Resale

PERFETTI VAN MELLE INDIA PVT. LTD.,GURGAON vs. ACIT, CIRCLE-3(1), GURGAON

In the result, the additional ground raised by the assessee is allowed

Bench: The Income Tax Appellate Tribunal, Delhi Bench “I-2”, New Delhi

section 80HHC and the issue involved was regarding the computation of the eligible profits. The issue which was considered by the Supreme Court was regarding the interpretation of the term “total turnover” in the formulae contained in Section 80HHC(3) and whether excise duty and sales tax could form part of the total turnover being the denominator in the said

DCIT, NEW DELHI vs. M/S. CORNELL OVERSEAS (P) LTD., NEW DELHI

In the result, appeal of the department is dismissed

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 2166/Del/2011 : Asstt. Year : 2003-04 Dcit, Vs Cornell Overseas (P) Ltd., Circle-3(1), B-235, Okhla Indl. Area, Phase-I, New Delhi New Delhi-110020 (Appellant) (Respondent) Pan No. Aaacc0034F Assessee By : Ms. Vandana Bhandari, Ca Revenue By : Sh. Neeraj Kumar, Sr. Dr Date Of Hearing : 03.02.2017 Date Of Pronouncement : 02.05.2017 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 28.02.2011 Of Ld. Cit(A)-Xx, New Delhi.

Price u/s 90CA(3) ignoring the fact that each international transaction must be benchmarked separately. The approach of amalgamating transactions should be followed only where the transaction are closely interlinked. The TPO has brought out that in the assessee's 3 Cornell Overseas (P) Ltd. arrangement with its AE, the rewards of the marketing and fruits of intangible would

LOUIS DREYFUS COMMODITIES INDIA PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

Bench: Shri Kuldip Singh & Shri Prashant Maharishi(Through Video Conference)

Transfer Pricing Officer before the said date, or a reference under sub- section (1) is made on or after the 1st day of June, 2007, an order under sub-section (3) may be made at any time before sixty days prior to the date on which the period of limitation referred to in section 153, or as the case