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

section 92C, the arm 's length price in relation to an international transaction shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely:— (a) comparable uncontrolled price method, by which,— (i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number

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

PR. COMMISSIONER OF INCOME TAX -7 vs. SUMITOMO CORPORATION INDIA (P) LTD.

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

transfer pricing adjustment as proposed by the TPO and disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156 and notice issued under section 274 read with section 271(1)(c) of the Act for initiating penalty proceedings. provided to the Petitioner to file objections before

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MICROSOFT INDIA ( R & D) PVT. LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

transfer pricing adjustment as proposed by the TPO and disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156 and notice issued under section 274 read with section 271(1)(c) of the Act for initiating penalty proceedings. provided to the Petitioner to file objections before

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MARUTI SUZUKI INDIA LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

transfer pricing adjustment as proposed by the TPO and disallowance of deduction claimed under section 10B of the Act.  Said final assessment order was accompanied by notice of demand issued under section 156 and notice issued under section 274 read with section 271(1)(c) of the Act for initiating penalty proceedings. provided to the Petitioner to file objections before

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

4(1) , New Delhi appreciated that, if significant differences, CUP method will not produce a reliable measure of an arm's length result. It would be noted that in order to apply the CUP method, the comparable uncontrolled transaction have to satisfy the strict comparability criteria. Hon‘ble ITAT in the case of UCB India (P) Ltd. vs. ACIT

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

4(1) , New Delhi appreciated that, if significant differences, CUP method will not produce a reliable measure of an arm's length result. It would be noted that in order to apply the CUP method, the comparable uncontrolled transaction have to satisfy the strict comparability criteria. Hon‘ble ITAT in the case of UCB India (P) Ltd. vs. ACIT

ETT LTD (FORMERLY KNOWN AS INDIAN EXPRESS MULTIMEDIA LTD),NEW DELHI vs. CIT, CENTRAL-II, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Sh. Amit Shukla & Sh. Anadee Nath Misshraassessment Year: 2013-14

transfer pricing were applicable which has not been scrutinized by the Assessing Officer. 5. In response to the show cause notice assessee filed detailed submissions and documents placed on record before Assessing Officer on various dates, which is running into almost 200 pages, the copy of which has been placed in the paper book from pages 4 to 201 before

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)

Transfer Pricing Documentation within the time-frame mentioned in Rule 10D(4) of the Rules. 3. The Ld. TPO has erred in law and on facts by summarily disregarding the approach followed by the Assessee for benchmarking international transaction pertaining to receipt of ,! Management services without assigning any cogent reasons. In this regard, the Ld. TPO has artificially created separate

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)

Transfer Pricing Documentation within the time-frame mentioned in Rule 10D(4) of the Rules. 3. The Ld. TPO has erred in law and on facts by summarily disregarding the approach followed by the Assessee for benchmarking international transaction pertaining to receipt of ,! Management services without assigning any cogent reasons. In this regard, the Ld. TPO has artificially created separate

DCIT, CENTRAL CIRCLE-28, NEW DELHI vs. PSK FINANCE SOLUTIONS PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

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

section is 'may be presumed’ as is used in s. 114 of the Evidence Act, 1872. It is not a mandate 51 PSK Finance Solutions Pvt. Ltd. that whenever the books of account are seized, the Court shall necessarily draw the presumption, irrespective of any other factors which may dissuade the Court from doing so." c. CIT vs. Tips Industries

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)

4 ITR(T) 606 (Chandigarh) (SB)/[2010] 38 SOT 307 (Chandigarh) (SB)/[2010] 132 TTJ 1 (Chandigarh) (SB) which has allowed the assessee to resile form the comparable i.e. Datamatics Limited though included in the TP study report by assessee. The special bench held as under :- “9. In addition to the above two issues, one more issue is raised

B.R. ASSOCIATES PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed

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

132(4) could not be sustained in the absence of anv evidence, material or recovery of any movable or immovable assets at the time of search to corroborate the disclosure made by the assessee." It is also added that that no assessing authority can proceed the assessment on the basis of surrender made at the time of search when corroboration

B.R. ASSOCIATES PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed

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

132(4) could not be sustained in the absence of anv evidence, material or recovery of any movable or immovable assets at the time of search to corroborate the disclosure made by the assessee." It is also added that that no assessing authority can proceed the assessment on the basis of surrender made at the time of search when corroboration

B.R. ASSOCIATES PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed

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

132(4) could not be sustained in the absence of anv evidence, material or recovery of any movable or immovable assets at the time of search to corroborate the disclosure made by the assessee." It is also added that that no assessing authority can proceed the assessment on the basis of surrender made at the time of search when corroboration

M/S TRL RICELAND PVT. LTD.,(FORMERLY KNOWN AS M/S TILDA RICELAND P.LTD.),NEW DELHI vs. ADDLCIT, NEW DELHI

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

section 92D, "shall be supported by authentic documents, which may include the following (i.e. documents specified therein)". The logic employed by the Transfer Pricing Officer is that since databases compiled by private entities is not included in rule 10 D(3), such databases cannot be relied upon by the assessee. This logic is clearly fallacious inasmuch as an item

TRL RICELAND PVT. LTD.,(FORMERLY KNOWN AS M/S TILDA RICELAND P.LTD.),NEW DELHI vs. ADDL.CIT, SPECIAL RANGE- 9, NEW DELHI

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

section 92D, "shall be supported by authentic documents, which may include the following (i.e. documents specified therein)". The logic employed by the Transfer Pricing Officer is that since databases compiled by private entities is not included in rule 10 D(3), such databases cannot be relied upon by the assessee. This logic is clearly fallacious inasmuch as an item

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

132,764,007 370 filed by the assessee on 29/11/2012 is assessed at ₹ 1,515,053,700/–. The assessee has raised following grounds of appeal.- “1. That the assessing officer erred on facts and in law in completing assessment under section 144C read with section 143(3) of the Income-tax Act (“the Act”) at an income