PCIT-1, NEW DELHI vs. BEAM GLOBAL SPIRITS & WINE (INDIA)PVT.LTD.

Bench: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR,HON'BLE MR. JUSTICE YASHWANT VARMA

iv) "specified date" means the date one month prior to the due date for furnishing the return of income under sub-section (1) of section 139 for the relevant assessment year;] (v) "transaction" includes an arrangement, understanding or action in concert,— (A) whether or not such arrangement, understanding or action is formal or in writing; or (B) whether

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

17 taxmann.com 138 (Delhi) also does not help the case of the assessee as in that case it was held that Where Assessing Officer instead of taking approval from Joint Commissioner as per provisions of section 151, obtained approval from Commissioner and issued notice under section 148, said notice was invalid. Reliance placed by the authorised representative on the case

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

iv). Profit split method (PSM) (v). Transactional Net Margin Method (TNMM) 11. Out of the above five methods, the assessee selected Transaction Net Margin Method (TNMM). Under this method, first the net profit margin realized by the enterprise from an international transaction entered into with an "Associated enterprise" is computed in relation to costs incurred or sales affected or assets

DCIT, CIRCLE- 16(2), NEW DELHI vs. MENETA AUTOMOTIVE COMPONENTS PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

17. As we have held that T.P. Adjustments are bad in law, we do not find it necessary to dwell into the merits of the case. 18. In the result, the appeal filed by the assessee is partly allowed. … …” 3. The view so taken by the Tribunal was affirmed by the High Court which is presently under Appeal. We heard

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 Officer is received by him.] (6) Nothing contained in sub-sections (1) [, (1-A)] and (2) shall apply to the following classes of assessments, reassessments and recomputation which may, subject to the provisions of [sub-sections (3), (5) and (5-A)], be completed— (i) where the assessment, reassessment or recomputation is made Digitally Signed By:KAMLESH KUMAR Signing

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 Officer is received by him.] (6) Nothing contained in sub-sections (1) [, (1-A)] and (2) shall apply to the following classes of assessments, reassessments and recomputation which may, subject to the provisions of [sub-sections (3), (5) and (5-A)], be completed— (i) where the assessment, reassessment or recomputation is made Digitally Signed By:KAMLESH KUMAR Signing

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 Officer is received by him.] (6) Nothing contained in sub-sections (1) [, (1-A)] and (2) shall apply to the following classes of assessments, reassessments and recomputation which may, subject to the provisions of [sub-sections (3), (5) and (5-A)], be completed— (i) where the assessment, reassessment or recomputation is made Digitally Signed By:KAMLESH KUMAR Signing

MR. J.S. GUJRAL,GURGAON vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

1-4-1989 provides that where the assessing officer has reasons to believe that any income chargeable to tax has escaped assessment for any assessment year, he may apply the provisions of section 148 to 153 of the Act. Conditions precedent for initiation of action under section 147(a) or 147(b) of the pre-amended section are highlighted above

MR. SANJIV NARAYAN,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

1-4-1989 provides that where the assessing officer has reasons to believe that any income chargeable to tax has escaped assessment for any assessment year, he may apply the provisions of section 148 to 153 of the Act. Conditions precedent for initiation of action under section 147(a) or 147(b) of the pre-amended section are highlighted above

MR. KRISHNA KUMAR PANT,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

1-4-1989 provides that where the assessing officer has reasons to believe that any income chargeable to tax has escaped assessment for any assessment year, he may apply the provisions of section 148 to 153 of the Act. Conditions precedent for initiation of action under section 147(a) or 147(b) of the pre-amended section are highlighted above

MR. RANJEET SINGH,GURGAON vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

1-4-1989 provides that where the assessing officer has reasons to believe that any income chargeable to tax has escaped assessment for any assessment year, he may apply the provisions of section 148 to 153 of the Act. Conditions precedent for initiation of action under section 147(a) or 147(b) of the pre-amended section are highlighted above

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

The appeals are allowed in the above terms, but with no orders as to costs

transfer pricing provisions. The meaning assigned to ‘international transaction’ in terms of Clause (iv) of Section 92B was inclusive and not limited to the types of transactions in sub-clauses A to C and E of Clause (i). The bright line test was a way of finding out the cost and value of the international transaction, which was the first

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

The appeals are allowed in the above terms, but with no orders as to costs

transfer pricing provisions. The meaning assigned to ‘international transaction’ in terms of Clause (iv) of Section 92B was inclusive and not limited to the types of transactions in sub-clauses A to C and E of Clause (i). The bright line test was a way of finding out the cost and value of the international transaction, which was the first

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

iv) The assessee markup has been calculated on the FOB value of exports made through the assessee. The rationale for this has been given at para 5.3. (v) An adjustment of Rs.576,561,186 was made to the value of international transaction. (vi) The assessee was afforded reasonable opportunity of being heard (including personal hearing) as mentioned on page 1

NOBLE RESOURCE & TRADING INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal is allowed with above direction

Bench: Shri Amit Shukla & Shri Prashant Maharishi

17. The ld AR has also submitted that now the 'sixth method' has been prescribed by the board as per Rule 10D (1)(f) and which is held to be retrospective with effect from when transfer pricing provisions were introduced in India. For this ld DR relied on the decision of the coordinate bench in Toll Global Forwarding India

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

17. The ld AR has also submitted that now the 'sixth method' has been prescribed by the board as per Rule 10D (1)(f) and which is held to be retrospective with effect from when transfer pricing provisions were introduced in India. For this ld DR relied on the decision of the coordinate bench in Toll Global Forwarding India

M/S. NEW DELHI TELEVISION LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri H. S. Sidhu & Shri Prashant Maharishinew Delhi Television Ltd, Vs. Acit, 207, Okhla Industrial Estate, Phase- Circle-13(1), Iii, New Delhi New Delhi Pan: Aaacn0865D (Appellant) (Respondent) Acit, Vs. New Delhi Television Ltd, Circle-13(1), 207, Okhla Industrial Estate, New Delhi Phase-Iii, New Delhi Pan: Aaacn0865D (Appellant) (Respondent)

17. As we have held that T.P. Adjustments are bad in law, we do not find it necessary to dwell into the merits of the case. 18. In the result, the appeal filed by the assessee is partly allowed. … …" 3. The view so taken by the Tribunal was affirmed by the High Court which is presently under Appeal. We heard

DCIT, NEW DELHI vs. M/S. NEW DELHI TELEVISION LTD., NEW DELHI

Bench: Shri H. S. Sidhu & Shri Prashant Maharishinew Delhi Television Ltd, Vs. Acit, 207, Okhla Industrial Estate, Phase- Circle-13(1), Iii, New Delhi New Delhi Pan: Aaacn0865D (Appellant) (Respondent) Acit, Vs. New Delhi Television Ltd, Circle-13(1), 207, Okhla Industrial Estate, New Delhi Phase-Iii, New Delhi Pan: Aaacn0865D (Appellant) (Respondent)

17. As we have held that T.P. Adjustments are bad in law, we do not find it necessary to dwell into the merits of the case. 18. In the result, the appeal filed by the assessee is partly allowed. … …" 3. The view so taken by the Tribunal was affirmed by the High Court which is presently under Appeal. We heard