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

144C of the Act is tenable or not? Digitally Signed By:KAMLESH KUMAR Signing Date:02.09.2024 17:04:21 Signature Not Verified ITA 52/2023 & other connected matters Page 12 of 74 its order under section 92CA(3) of the Act proposed an upward transfer pricing

M/S RELIGARE CAPITAL MARKETS LIMITED,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

Transfer Pricing Officer (―TPO‖) to determine the arm‘s length price (―ALP‖) in respect of such international transactions. In case of such an eligible assessee, (as also defined in sub- section 15(b) of section 144C of the Act), the assessing officer is mandatorily required to pass proposed order of assessment (hereinafter referred to as ‗draft assessment order‘). Once

RELIGARE CAPITAL MARKETS LTD.,NOIDA vs. ACIT, NEW DELHI

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

Transfer Pricing Officer (―TPO‖) to determine the arm‘s length price (―ALP‖) in respect of such international transactions. In case of such an eligible assessee, (as also defined in sub- section 15(b) of section 144C of the Act), the assessing officer is mandatorily required to pass proposed order of assessment (hereinafter referred to as ‗draft assessment order‘). Once

COMMISSIONER OF INCOME TAX vs. AMADEUS INDIA PVT LTD

Appeal is dismissed

Section 144C of the said Act. 3. The Transfer Pricing Officer had observed that the assessee had incurred more than

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

3) read with section 144C(1) of the Act. The DRP while issuing directions under section 144C(5) of the Act did not allow reasonable opportunity to the Appellant to fight the case on merits. The directions of the DRP are erroneous and perverse on facts. Transfer Pricing

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

3. Capacity utilization risk Disclosed in transfer pricing report ITA 306/2012 Page 8 4. Foreign exchange risk Disclosed in transfer pricing report 5. Credit & collection risk Disclosed in transfer pricing report 6. Scheduling risk Not disclosed in transfer pricing report but actually borne by assessee. 7. Government & institutional risk Not disclosed in transfer pricing report but actually borne by assessee

CIT vs. CUSHMAN AND WAKEFIELD INDIA PVT LTD

The appeal is partly allowed

transfer pricing report provided by the assessee. As regards the payment of the referral fee, the TPO stated that “no adverse inference is drawn”. However, in respect of the reimbursement of costs to the AEs, the TPO disallowed deduction of the expenditure. The AO, basing himself on this order, made a draft assessment order disallowing the reimbursement. Additionally

XANDER ADVISORS INDIA PVT. LTD.,NEW DELHI vs. ACIT, NOIDA

In the result, both the appeals are allowed, as indicated

Bench: Shri G.S. Pannu & Shri Saktijit Dey

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company.” 10. On a reading of sub-section(1) of Section 144C

XANDER ADVISORS INDIA PVT. LTD.,NEW DELHI vs. ACIT, NOIDA

In the result, both the appeals are allowed, as indicated

Bench: Shri G.S. Pannu & Shri Saktijit Dey

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company.” 10. On a reading of sub-section(1) of Section 144C

TEVA PHARMACEUTICAL & CHEMICAL INDUSTRIES INDIA PRIVATE LIMITED,MUMBAI vs. DCIT, CIRCLE-25(1), DELHI

In the result, appeal of the Assessee is allowed

Bench: Yogesh Kumar U.S. & Shri Manish Agarwalteva Pharmaceutical & Chemical Vs Assessment Unit, Income Industries India Private Limited, Tax Department/Deputy 8Th Floor, C-Wing Time Square, Commissioner Of Income Andherikurla Road, Marol Naka, Tax, Circle 25(1), Opp Mittal Industrial Estate C. R. Building, Delhi- Andheri (E), Mumbai 400059, 110001 Maharashtra, India Pan: Bnspk7225H Appellant Respondent Assessee By Sh. Sachit Jolly, Sr. Adv, Sh. Sohamdua, Adv& Sh. Abhiudaya Shankar Bajpai, Adv Revenue By Sh. S. K. Jadhav, Cit Dr Date Of Hearing 19/01/2026 Date Of Pronouncement 19/01/2026 Order Per Yogesh Kumar, U.S. Jm: The Captioned Appeal Is Filed By The Assessee Challenging The Final Assessment Order Passed U/S 143(3) R.W.S. 144C(13) R.W.

Transfer Pricing Officer (TPO), the time) limit available stands extended by another 12 months, and in the present case, the upper time limit for completion of assessment proceedings would expire on 30.09.2021. 18. In the present case, the final assessment order passed by the A.O. under Section 143(3) r.w.s. 144C

DCIT, NEW DELHI vs. I ENERGIZER HOLDINGS LTD., NEW DELHI

In the result, the Cross Objections of the assessees are allowed and consequently the appeals of the revenue are liable to be dismissed

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

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.]” 15. A plain reading of Section indicates that it is obligatory on the part of the AO to forward a draft Assessment Order as per the provisions of Section 144C

DCIT, NEW DELHI vs. I ENERGIZER HOLDINGS LTD., NEW DELHI

In the result, the Cross Objections of the assessees are allowed and consequently the appeals of the revenue are liable to be dismissed

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

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.]” 15. A plain reading of Section indicates that it is obligatory on the part of the AO to forward a draft Assessment Order as per the provisions of Section 144C

DCIT, NEW DELHI vs. I ENERGIZER HOLDINGS LTD., NEW DELHI

In the result, the Cross Objections of the assessees are allowed and consequently the appeals of the revenue are liable to be dismissed

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

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.]” 15. A plain reading of Section indicates that it is obligatory on the part of the AO to forward a draft Assessment Order as per the provisions of Section 144C

DCIT, NEW DELHI vs. I ENERGIZER HOLDINGS LTD., NEW DELHI

In the result, the Cross Objections of the assessees are allowed and consequently the appeals of the revenue are liable to be dismissed

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

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.]” 15. A plain reading of Section indicates that it is obligatory on the part of the AO to forward a draft Assessment Order as per the provisions of Section 144C

DCIT, NEW DELHI vs. M/S WICKWOOD DEVELOPMENT LTD.,, NEW DELHI

In the result, the Cross Objections of the assessees are allowed and consequently the appeals of the revenue are liable to be dismissed

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

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.]” 15. A plain reading of Section indicates that it is obligatory on the part of the AO to forward a draft Assessment Order as per the provisions of Section 144C

DCIT, NEW DELHI vs. ISERVICES INVESTMENTS LTD., NEW DELHI

In the result, the Cross Objections of the assessees are allowed and consequently the appeals of the revenue are liable to be dismissed

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

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.]” 15. A plain reading of Section indicates that it is obligatory on the part of the AO to forward a draft Assessment Order as per the provisions of Section 144C

LINTEC INDIA PRIVATE LIMITED,SOUTH DELHI, DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 13(1), OFFICE OF DCIT, CR BUILDING, DELHI,

In the result, appeal of the Assessee is allowed

Bench: Yogesh Kumar U.S. & Shri Manish Agarwallintec India Private Limited Vs The Deputy Commissioner Of 14Th Floor, Eros Corporate Tower, Income Tax, Circle 13(1), Nehru Place, South Delhi, Delhi Office Of The Dcit, C. R. 110019, Building, Delhi Pan: Aaccl23772F Appellant Respondent Assessee By Sh. Supriya Mehta, Ca Revenue By Sh. S. K. Jadhav, Cit Dr Date Of Hearing 19/01/2026 Date Of Pronouncement 21/01/2026

transfer July 30, July 31, Yes pricing order u/s 92CA(3) of 2023 2023 the Act 2 Date of passing of the draft September - Yes assessment order u/s 143(3) 27, 2023, r.w. Section 144C

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

3) of the act on 20/1/2014. Incorporating the above adjustment proposed by Noble Resources & Training India Pvt. Ltd Vs.DCIT, ITA No. 1827 & 1847/Del/2015 (Assessment Year: 2009-10 & 2010-11) the learned transfer pricing officer, The learned AO passed order in terms of section 144C