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

Section 92C of the Act. 9. We also bear in consideration the following pertinent observations that came to be rendered by the Court in Maruti Suzuki India Ltd. v. Commissioner of Income Tax:- “44. However, in the present appeals, the very existence of an international transaction is in issue. The specific case of MSIL is that the Revenue has failed

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

section 144C of the act proposing an addition of Rs 22048880/– in pursuance of the direction of the learned dispute resolution panel where the transfer pricing adjustment suggested by the learned transfer pricing officer of Rs. 22048880/– was confirmed by the learned dispute resolution panel.. 41. The Assessee has raised the following grounds of appeal in ITA No. 4304/Del/2010

(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

section 92C(2) of the Act and Rule 10B of the Rules provide the manner in which such methods should be applied by the assessee, assessing officer, Transfer Pricing Officer, etc. 11. Mr. Porus Kaka, learned senior counsel, while stating that the TNMM was chosen by LFIL as the appropriate method to calculate the arm‟s length, provided the court

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

21. We have carefully considered the rival contentions and perused the orders of the learned Transfer Pricing Officer as well as the Learned Dispute Resolution Panel. We have also perused the Transfer Pricing Study Report prepared by the assessee for the above segment. On careful reading of the transfer pricing study report prepared by the assessee, functions performed

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

21. We have carefully considered the rival contentions and perused the orders of the learned Transfer Pricing Officer as well as the Learned Dispute Resolution Panel. We have also perused the Transfer Pricing Study Report prepared by the assessee for the above segment. On careful reading of the transfer pricing study report prepared by the assessee, functions performed

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)

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 the year. 07. Assessee has shown the transfer of the power as per its transfer pricing study report from eligible unit to non-eligible unit as Under :- Transferor

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

21. On the facts and in law, the Hon'ble DRP/ Ld. AO/ Ld. TPO erred in disallowing an amount of Rs. 1,308 under Section I4A.” 15. Now, we first take up the transfer pricing

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)

21. We have carefully considered the rival contentions. According to the transfer pricing study report of the assessee it selected 15 comparables and whose AM is 6.22%, whereas the Ld. transfer pricing officer has also carried out independent search wherein the same database has thrown only three companies having similar business along with the assessee. The differences arise

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

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

M/S. BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. JCIT, DEHRADUN

Bench: Shri I. C. Sudhir & Shri Prashant Maharishibg Exploration & Production Jcit, India Ltd, International Taxation, Bg House, Dehradun Vs. Lake Boulevard Road, Hiranandani Business Park, Powai, Mumbai Pan:Aaace4569K (Appellant) (Respondent) Dcit, Bg Exploration & Production International Taxation, India Ltd, Bg House, Lake Dehradun Boulevard Road, Hiranandani Vs. Business Park, Powai, Mumbai Pan: Aaace4569K (Appellant) (Respondent)

section 92CA of the Income Tax Act of Rs. 8018048/– . Assessee objected to the comparables before the Ld. Dispute Resolution Panel, however, the contention of the Assessee was B G Exploration & Production India Limited V DCIT ITA No 1170/Del/2015 DCIT V B G Exploration & Production India Limited ITA No 1581/Del/2015 AY 2010-11 rejected holding that the Ld. Transfer Pricing

CIT vs. CUSHMAN AND WAKEFIELD INDIA PVT LTD

The appeal is partly allowed

Transfer Pricing Officer shall, by order in writing, determine the arm’s length price in relation to the international transaction in accordance with sub-section (3) of section 92C and send a copy of his order to the Assessing Officer and to the assessee. 27. Section 92D (1) of the Act provides that every person who has entered into

MCKINSEY KNOWLEDGE CENTRE INDIA PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result ground No. 14 of the appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimckinsey Knowledge Centre India Pvt. Vs. Dcit, Ltd, Circle-16(2) 3Rd Floor, Block-Iii, Vatika Business Park, New Delhi Sector-49, Sohna Road, Gurgaon Pan:Aaccm2356G (Appellant) (Respondent)

21 of that order wherein after considering services of research and information services, ultimately coordinate bench has held that assessee is rendering knowledge process outsourcing services under this segment involving huge expertise and skills. Therefore he submitted that Ld. Transfer Pricing Officer did not have advantage of order of coordinate bench and therefore has accepted functional profile of assessee

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)

21. In order to understand the concept of tested party, one need to refer to the transfer pricing legislations of developed countries where the principles of transfer pricing have been in use for a long time and act as a guiding force for all the developing economies. The transfer pricing guidelines issued by the US Internal revenue services under section

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

21 7430 9000/–. 17. On the issue of the transfer price adjustment with respect to the export of goods, he rejected the monthly average price taken by the assessee under the transfer pricing study for the reason that according to him the nearest date of the transaction if taken for comparison, the variation in prices of the steel product

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

21 7430 9000/–. 17. On the issue of the transfer price adjustment with respect to the export of goods, he rejected the monthly average price taken by the assessee under the transfer pricing study for the reason that according to him the nearest date of the transaction if taken for comparison, the variation in prices of the steel product