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

35. The assessee has raised an additional ground of appeal in its cross objection stating that the order passed by the Additional Commissioner Of Income Tax (The Transfer Pricing Officer) is invalid as it was raised in assessment year 2002 – 03 in the cross objection filed by the assessee. We have already dealt with the above cross objection in deciding

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

section 92C, the arm 's length price in relation to an international transaction shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely:— (a) comparable uncontrolled price method, by which,— (i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number

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

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

transferred by Deltron Ltd. belonged to a unit which was entitled to 100% deduction u/s 35(1)(iv) of the Act, i.e. the cost in the hands of Deltron was most negligible or zero. The moot question is would Deltron had sold it at the same price on unrelated party at the same cost? The answer is ‘yes’ because Deltron

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

transferred by Deltron Ltd. belonged to a unit which was entitled to 100% deduction u/s 35(1)(iv) of the Act, i.e. the cost in the hands of Deltron was most negligible or zero. The moot question is would Deltron had sold it at the same price on unrelated party at the same cost? The answer is ‘yes’ because Deltron

M/S. CONTINENTAL DEVICE INDIA LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

transferred by Deltron Ltd. belonged to a unit which was entitled to 100% deduction u/s 35(1)(iv) of the Act, i.e. the cost in the hands of Deltron was most negligible or zero. The moot question is would Deltron had sold it at the same price on unrelated party at the same cost? The answer is ‘yes’ because Deltron

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

transferred by Deltron Ltd. belonged to a unit which was entitled to 100% deduction u/s 35(1)(iv) of the Act, i.e. the cost in the hands of Deltron was most negligible or zero. The moot question is would Deltron had sold it at the same price on unrelated party at the same cost? The answer is ‘yes’ because Deltron

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

iv) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited [or inventory valued] under sub-section (2A) of section 142 and— (a) ending with the last date on which the assessee is required to furnish a report of such audit [or inventory valuation] under that sub-section; or (b) where

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

iv) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited [or inventory valued] under sub-section (2A) of section 142 and— (a) ending with the last date on which the assessee is required to furnish a report of such audit [or inventory valuation] under that sub-section; or (b) where

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

iv) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited [or inventory valued] under sub-section (2A) of section 142 and— (a) ending with the last date on which the assessee is required to furnish a report of such audit [or inventory valuation] under that sub-section; or (b) where

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

iv) Chapter X dealt with ALP adjustment whereas Section 40A(2)(b) dealt with the reasonability of quantum of expenditure. (v) TNMM applied with equal force on single transaction as well as multiple transactions as per the scheme of Chapter X and the TP Rules. Thus, the word ‘transaction’ would include a series of closely linked transactions. (vi) The TPO/AO

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

iv) Chapter X dealt with ALP adjustment whereas Section 40A(2)(b) dealt with the reasonability of quantum of expenditure. (v) TNMM applied with equal force on single transaction as well as multiple transactions as per the scheme of Chapter X and the TP Rules. Thus, the word ‘transaction’ would include a series of closely linked transactions. (vi) The TPO/AO

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

IV submitted before us. On careful reading of these submissions, we are of the opinion that the transfer pricing study report prepared by the assessee is sketchy and does not give the complete analysis of the functions performed by the assessee. It also does not show what kind of assets and personnel the assessee has employed. Further, none

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

IV submitted before us. On careful reading of these submissions, we are of the opinion that the transfer pricing study report prepared by the assessee is sketchy and does not give the complete analysis of the functions performed by the assessee. It also does not show what kind of assets and personnel the assessee has employed. Further, none

THE PR.COMMISSIONER OF INCOME TAX -1 (INTERNATIONAL TAXATION) vs. GE CALEDONIAN LTD

Bench: The Learned National Consumer Disputes Redressal Commission (Ncdrc) Against The Petitioner Lucina Land Development Ltd. & Others By 51 Allotees Of Flats In A Project Of The Petitioners, Titled ―Indiabulls Greens Panvel‖ (―The Project‖, Hereinafter). The Complaint, Preferred Under Section Digitally Signed By:Sunil Singh Negi Signing Date:02.05.2022 15:58:14 Signature Not Verified

transfer of case from one forum to the other or there does not exist any provision to grant injunction. Absence of such provisions in our opinion would not render the statute ultra vires the Constitution or unworkable. 52. The very fact that in a given case a party under the said Act may approach upto this Court and/or may otherwise

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)

35. Assessee explained on 28 May 2012 that no corporate guarantee was issued by the assessee for the above impugned transaction. Assessee also informed that the audited accounts of the assessee company states that the appellant company has merely given an undertaking to provide a corporate guarantee for and behalf of the NDTV Network PLC United Kingdom company

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)

35. Assessee explained on 28 May 2012 that no corporate guarantee was issued by the assessee for the above impugned transaction. Assessee also informed that the audited accounts of the assessee company states that the appellant company has merely given an undertaking to provide a corporate guarantee for and behalf of the NDTV Network PLC United Kingdom company