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

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

transfer of shares at face value has been approved by the management of and Eltek company also”. 12. Premised above factual position, we will now examine, whether on the present facts, provisions of section 17(2)(iii) are applicable and whether the Ld AO was justified in initiating action u/s 147 of the Act. Provisions of section 17(2

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

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

transfer of shares at face value has been approved by the management of and Eltek company also”. 12. Premised above factual position, we will now examine, whether on the present facts, provisions of section 17(2)(iii) are applicable and whether the Ld AO was justified in initiating action u/s 147 of the Act. Provisions of section 17(2

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

transfer of shares at face value has been approved by the management of and Eltek company also”. 12. Premised above factual position, we will now examine, whether on the present facts, provisions of section 17(2)(iii) are applicable and whether the Ld AO was justified in initiating action u/s 147 of the Act. Provisions of section 17(2

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

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

transfer of shares at face value has been approved by the management of and Eltek company also”. 12. Premised above factual position, we will now examine, whether on the present facts, provisions of section 17(2)(iii) are applicable and whether the Ld AO was justified in initiating action u/s 147 of the Act. Provisions of section 17(2

COMMISSIONER OF INCOME TAX vs. ANKITECH PVT LTD

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

24 of 50 or on whose individual benefit, being such shareholder, the amount is paid by the company to the concern.‖ 16. Notwithstanding the aforesaid judgments of Bombay High Court and Rajasthan High Courts, learned counsel appearing for the Revenue made a frantic effort to persuade us to take a contrary view. Ms. P.L. Bansal, learned Senior Counsel appearing

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

2)(a) under which certain types of expenditure incurred by way of payment to related parties is not deductible where the Assessing Officer "is of the opinion that such expenditure is excessive or unreasonable having regard to the fair market value of the goods". In such event, "so much of the expenditure as is so considered

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

2)(a) under which certain types of expenditure incurred by way of payment to related parties is not deductible where the Assessing Officer "is of the opinion that such expenditure is excessive or unreasonable having regard to the fair market value of the goods". In such event, "so much of the expenditure as is so considered

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

2 of the TP Order] From the perusal of the aforesaid para of the transfer v. pricing order under section 92CA of the Act, it is apparent that the Assessee was primarily acting as "exclusive agent of its AE” and the Assessee was not assuming any significant risk for its function apart from risk of foreign exchange fluctuation. Attention

(Now known as Sony India Limited)

Section 92B of the Income Tax Act, 1961. 3. Whether under Chapter X of the Income Tax Act, 1961, a transfer pricing adjustment can be made by the Transfer Pricing Officer/ Assessing Officer in respect of expenditure treated as AMP Expenses and if so in which circumstances? 4. If answer to question Nos.2 and 3 is in favour

COMMISSIONER OF INCOME TAX vs. MENTOR GRAPHICS (NOIDA) PVT.LTD

The appeal is allowed

section 92C on the basis of such material or informaction or document available with him. After the Transfer Pricing Officer determines the arm’s length price, it is incumbent upon him to send a copy of the order to the assessing officer and to the assessee. In the present case what has happened is that the Transfer Pricing Officer

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

24. Companies with dispersed production facilities or those trading through different units (usually in different countries), employ transfer pricing, a mechanism that involves over or undercharging for goods or services sold between branches or constituent units at a price (usually) determined by the holding company. The main objective of transfer pricing is to take advantage of differential taxation between countries

CIT vs. CUSHMAN AND WAKEFIELD INDIA PVT LTD

The appeal is partly allowed

24. Section 92C (4) of the Act provides that where an arm’s length price is determined by the Assessing Officer under sub-section (3), the Assessing Officer may compute the total income of the assessee having regard to the arm’s length price so determined. However, no deduction under section 10A [or section 10AA] or section

DCM SHRIIRAM LTD.,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE- 3 , NEW DELHI

In the result appeal of assessee is partly allowed

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

2), New Delhi, [learned Transfer Pricing Officer/TPO] to determine the arm’s-length price of the international transactions entered into by the assessee as per the provisions of Section 92CA of the act. 06. As stated, that assessee mostly had Specified Domestic Transactions [SDT]. Assessee has shown transfer of power and steam from eligible unit to non-eligible unit during

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)

transferred, directly or indirectly, by the employer free of cost or at concessional rate to his employees (including former employee or employees)' shall be taken as fringe benefit. The Explanation to this clause clarifies that for the purposes of this clause,—(i) 'specified security' means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation

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)

transferred, directly or indirectly, by the employer free of cost or at concessional rate to his employees (including former employee or employees)' shall be taken as fringe benefit. The Explanation to this clause clarifies that for the purposes of this clause,—(i) 'specified security' means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation

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

2), the most appropriate method, referred to in Section 92C(1), "shall be applied, for determination of arm's length price, in the manner prescribed". Therefore, as long as the method covered by rule 10AB, which is duly covered by Section 92C(1) satisfies the test of being the 'most appropriate method', it can be applied to a fact situation

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

2), the most appropriate method, referred to in Section 92C(1), "shall be applied, for determination of arm's length price, in the manner prescribed". Therefore, as long as the method covered by rule 10AB, which is duly covered by Section 92C(1) satisfies the test of being the 'most appropriate method', it can be applied to a fact situation

M/S ATOTECH INDIA LTD.,,GURGAON vs. ACIT, GURGAON

In the result ground No. 1 of the appeal of the assessee with respect to the above issue is allowed with above direction

Bench: I.C.Sudhir & Shri Prashant Maharishi & Atotech India Ltd, Acit, 66, Km Stone, Nh-8, Gurgaon Circle, Vs. Delhi Jaipur Highway, Gurgaon Gurgaon Pan:Aaccm0338G (Appellant) (Respondent)

24. For this year the assessee filed its return of income on 28/11/2006 declaring an income of Rs. 7 796 8133/–. As the assessee has entered into international transactions. The matter was referred by the Ld. assessing Page 14 of 15 officer to the Ld. transfer pricing officer for the determination of the arm’s length price of the international