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 of the Act. 11. Thus, if, we apply the provisions of section 144C of the Act to the facts of the present appeal, undoubtedly, assessee qualifies as an eligible assessee under sub-section (15)(b)(i) of section 144C of the Act. Further, it is an established fact

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 of the Act. 11. Thus, if, we apply the provisions of section 144C of the Act to the facts of the present appeal, undoubtedly, assessee qualifies as an eligible assessee under sub-section (15)(b)(i) of section 144C of the Act. Further, it is an established fact

FRESENIUS KABI ONCOLOGY LTD,NEW DELHI vs. ITO, WARD-9(3), NEW DELHI

In the result appeal of the assessee is allowed

Bench: Shri Prakash Chand Yadav & Shri Manish Agarwalfresenius Kabi Oncology Ltd. Income Tax Officer, B-310, Som Dutt Chamber, Ward-9(3), Bhikaji Cama Place, Vs. New Delhi. New Delhi-110066. Pan-Aabcd7720L (Appellant) (Respondent)

Transfer Pricing Officer passed under sub-section (3) of section 92-CA; and (ii) any foreign company.’ 7. A reference is also made to the provisions of section 144B relating to the faceless assessment pertaining to the assessment completed in case of eligible assessee u/s 144C of the Act, the relevant provisions are as under: Fresenius Kabi Oncology

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

In the result, the Cross Objections of the assessees are\nallowed and consequently the appeals of the revenue are liable\nto be dismissed

Transfer Pricing Officer passed\nunder sub-section (3) of section 92CA; and\n(ii) any foreign company.]\"\n15. A plain reading of Section indicates that it is obligatory on\nthe part of the AO to forward a draft Assessment Order as per\nthe provisions of Section 144C(1) of the Act. The sub-Section\n(1) of Section 144C being

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 (j) any foreign company. 45.3 Further, consequential amendments have been made – (i) in sub-section (1) of section 131 so as to provide that the “Dispute Resolution Panel” shall have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (5

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 (j) any foreign company. 45.3 Further, consequential amendments have been made – (i) in sub-section (1) of section 131 so as to provide that the “Dispute Resolution Panel” shall have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (5

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 (j) any foreign company. 45.3 Further, consequential amendments have been made – (i) in sub-section (1) of section 131 so as to provide that the “Dispute Resolution Panel” shall have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (5

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 (j) any foreign company. 45.3 Further, consequential amendments have been made – (i) in sub-section (1) of section 131 so as to provide that the “Dispute Resolution Panel” shall have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (5

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 (j) any foreign company. 45.3 Further, consequential amendments have been made – (i) in sub-section (1) of section 131 so as to provide that the “Dispute Resolution Panel” shall have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (5

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 (j) any foreign company. 45.3 Further, consequential amendments have been made – (i) in sub-section (1) of section 131 so as to provide that the “Dispute Resolution Panel” shall have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (5

ARIBA INDIA PRIVATE LIMITED,DELHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, DELHI

In the result, appeal of the assessee is allowed

Bench: SHRI YOGESH KUMAR U.S (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

Transfer Pricing Officer passed under sub-section (3) of section 92-CA; and (ii) any foreign company.’ 9. A reference is also made to the provisions of section 144B relating to the faceless assessment pertaining to the assessment completed in case of eligible assessee u/s 144C of the Act, which are as under: Ariba India Pvt.Ltd. vs. ACIT “144B.Faceless Assessment

DCIT, NEW DELHI vs. M/S. NEWBURY HOLDING TWO LTD., NEW DELHI

In the result, the Cross Objections of the assessees are\nallowed and consequently the appeals of the revenue are liable\nto be dismissed

Transfer Pricing Officer passed\nunder sub-section (3) of section 92CA; and\n(ii) any foreign company.]\"\n15. A plain reading of Section indicates that it is obligatory on\nthe part of the AO to forward a draft Assessment Order as per\nthe provisions of Section 144C(1) of the Act. The sub-Section\n(1) of Section 144C being

LI & FUNG (INDIA) P.LTD,NEW DELHI vs. DCIT, CIRCLE-16(1), NEW DELHI

transfer pricing, upon remand to DRP, the Assessing officer\nis to pass a denovo draft order and the entire proceedings as in the original\nassessment, would have to be completed within 12 months, as the very purpose of\nextension is to ensure that orders are passed within the extended period, as\notherwise the extension becomes meaningless. (e) The outer time

LI & FUNG (INDIA) PRIVATE LIMITED,NEW DELHI vs. DCIT, CIRCLE-13(1), DELHI

transfer pricing, upon remand to DRP, the Assessing officer\nis to pass a denovo draft order and the entire proceedings as in the original\nassessment, would have to be completed within 12 months, as the very purpose of\nextension is to ensure that orders are passed within the extended period, as\notherwise the extension becomes meaningless. (e) The outer time

SEAVIEW DEVELOPERS PRIVATE LIMITED,MUMBAI vs. ACIT, CIRCLE-23(2), NEW DELHI

In the result, appeals of the assessees are allowed

144C(12) of the Income-tax Act, (c) Irrespective of whether the DRP\nconcludes the proceedings and issues directions or not, within 9 months, the\nAssessing officer is to pass orders within the stipulated time,\n(d) In matter involving transfer pricing, upon remand to DRP, the Assessing officer\nis to pass a denovo draft order and the entire proceedings

JINDAL STEEL & POWER LTD.,NEW DELHI vs. NATIONAL FACELESS CENTRE, NEW DELHI

In the result, appeals of the assessee are allowed

Pricing Reference, such time available with the A.O. and T.P.O will be only few\nmonths, effectively scuttling possibility of any meaningful verification or scrutiny of details\nfrustrating very purpose of entire scrutiny assessment related provisions under the I.T. Act.\nSuch a situation will be hit by doctrine of impossibility or doctrine of frustration and courts\nshould avoid any interpretation

JINDAL STEEL & POWER LTD.,HISAR vs. ACIT, GURGAON

In the result, appeals of the assessee are allowed

Pricing Reference, such time available with the A.O. and T.P.O will be only few\nmonths, effectively scuttling possibility of any meaningful verification or scrutiny of details\nfrustrating very purpose of entire scrutiny assessment related provisions under the I.T. Act.\nSuch a situation will be hit by doctrine of impossibility or doctrine of frustration and courts\nshould avoid any interpretation

THE PR. COMMISSIONER OF INCOME TAX -4 vs. HEADSTRONG SERVICES INDIA PVT. LTD.

144C ……. (6) The Dispute Resolution Panel shall issue the directions referred to in sub-section (5), after considering the following namely: (a)Draft order; (b) objections filed by the assessee; (c) evidence furnished by the assessee; (d) report, if any, of the Assessing Officer, Valuation Officer or Transfer Pricing