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

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, CIRCLE- 19(1), NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

ACIT, CIRCLE- 19(1), NEW DELHI vs. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

ORIENTAL BANK OF COMMERCE,GURGAON vs. DCIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

ORIENTAL BANK OF COMMERCE,GURGAON vs. ADDL. CIT, NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

ACIT, NEW DELHI vs. M/S. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

price is higher than the face value, ‘the premium should be amortized for the remaining period of maturity of the security’. From the above, it is clear that the premium has to be amortized for the remaining period of maturity of the security. The learned authorized representative fairly conceded that details of such premium splitting over the remaining period

M/S. AT & T GLOBAL NETWORK SERVICES (INDIA) PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed and appeal of the revenue is dismissed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiat & T Global Network Services Dcit, (India) Pvt Ltd., Circle-2(1), Vs. Vatika Lok-1, Block-A, Gurgaon New Delhi Pan:Aafca8810L (Appellant) (Respondent) Dcit, At & T Global Network Services Circle-2(1), (India) Pvt Ltd., Vs. New Delhi Vatika Lok-1, Block-A, Gurgaon Pan:Aafca8810L (Appellant) (Respondent)

pricing terms of the contracts; - Setting up of systems for different products and services - after notification from delivery team; - Monitor billing inventory and ensure that invoices are raised on contractual intervals - Compare actual services installed with services contracted - Answer questions from clients/customers regarding disputes/disconnection - Resolve customer disputes - Process invoices reversals and adjustments - Determine penalty/termination charges Intimate delivery team about termination

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

36. With respect to ground number 1 in the cross objection which is general in supportive in nature, no arguments were advanced by either of the parties and therefore it is dismissed. 37. The ground number 2 in the cross objection is related to the transfer pricing issue with respect to the determination of the arm’s-length price

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

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

36 of 74 (b) ―eligible assessee‖ means,— (i) any person in whose case the variation referred to in sub- section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and [(ii) any non-resident not being a company, or any foreign company.] Time limit for completion of assessment

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

36 of 74 (b) ―eligible assessee‖ means,— (i) any person in whose case the variation referred to in sub- section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and [(ii) any non-resident not being a company, or any foreign company.] Time limit for completion of assessment

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

36 of 74 (b) ―eligible assessee‖ means,— (i) any person in whose case the variation referred to in sub- section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and [(ii) any non-resident not being a company, or any foreign company.] Time limit for completion of assessment

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

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

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

transfer pricing approach may be summarized as below. (i) The assessee has used TNMM as the method and OP/TC was claimed to be the PLI. (ii) It was noticed that the cost of goods sold through the assessee has not been included in the cost base while computing the margin. (iii) A show cause is this regard was issued

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

36 of 45 AMP expenditure is concerned. The Court finds considerable merit in the contention of the Assessee that the only TP adjustment authorised and permitted by Chapter X is the substitution of the ALP for the transaction price or the contract price. It bears repetition that each of the methods specified in S.92C (1) is a price discovery method