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

Transfer of Undertaking) Act, 1980 provides that “for the purposes of the Income-tax ITA No.1581 & Ors./Del/2017 22 ITA No. 1199 & Ors./Del/2018 Oriental Bank of Commerce Act, 1961, every corresponding new bank shall be deemed to be Indian company and a company in which public is substantially interested”. v) It is settled principle of law where deeming fiction

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

Transfer of Undertaking) Act, 1980 provides that “for the purposes of the Income-tax ITA No.1581 & Ors./Del/2017 22 ITA No. 1199 & Ors./Del/2018 Oriental Bank of Commerce Act, 1961, every corresponding new bank shall be deemed to be Indian company and a company in which public is substantially interested”. v) It is settled principle of law where deeming fiction

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

Transfer of Undertaking) Act, 1980 provides that “for the purposes of the Income-tax ITA No.1581 & Ors./Del/2017 22 ITA No. 1199 & Ors./Del/2018 Oriental Bank of Commerce Act, 1961, every corresponding new bank shall be deemed to be Indian company and a company in which public is substantially interested”. v) It is settled principle of law where deeming fiction

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

Transfer of Undertaking) Act, 1980 provides that “for the purposes of the Income-tax ITA No.1581 & Ors./Del/2017 22 ITA No. 1199 & Ors./Del/2018 Oriental Bank of Commerce Act, 1961, every corresponding new bank shall be deemed to be Indian company and a company in which public is substantially interested”. v) It is settled principle of law where deeming fiction

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

Transfer of Undertaking) Act, 1980 provides that “for the purposes of the Income-tax ITA No.1581 & Ors./Del/2017 22 ITA No. 1199 & Ors./Del/2018 Oriental Bank of Commerce Act, 1961, every corresponding new bank shall be deemed to be Indian company and a company in which public is substantially interested”. v) It is settled principle of law where deeming fiction

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

Transfer of Undertaking) Act, 1980 provides that “for the purposes of the Income-tax ITA No.1581 & Ors./Del/2017 22 ITA No. 1199 & Ors./Del/2018 Oriental Bank of Commerce Act, 1961, every corresponding new bank shall be deemed to be Indian company and a company in which public is substantially interested”. v) It is settled principle of law where deeming fiction

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

1) which sets out the different methods of determining the ALP, makes it clear that the transfer pricing adjustment is made by substituting the ALP for the price of the transaction. To begin with there has to be an international transaction with a certain disclosed price. The transfer pricing adjustment envisages the substitution of the price of such international transaction

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

1) which sets out the different methods of determining the ALP, makes it clear that the transfer pricing adjustment is made by substituting the ALP for the price of the transaction. To begin with there has to be an international transaction with a certain disclosed price. The transfer pricing adjustment envisages the substitution of the price of such international transaction

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

36. Strictly without prejudice to the aforesaid, it is further pertinent to note that the impugned assessment order has been passed by the assessing officer without following the binding directions of the DRP as is explained hereunder: (a) The DRP had held that draft assessment order under section 144C(1) was passed in breach of the provisions of section 144B

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, SPL. RANGE-07, NEW DELHI

In the result, the appeal filed by the Assessee stands allowed

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

v. HDFC Bank Ltd. 366 ITR 505 (Mum ). 5. The Ld. CIT(A) as well as AO has erred in law and on facts in disallowing sum of Rs. 2153,02,00,000/- claimed as bad debt by the assessee u/s 36(1 )(vii). The disallowance made is wrong and bad in law and the claim of bad debt should

MANKIND PHARMA LIMITED,DELHI vs. DCIT, CIRCLE-1(1)(1), MEERUT

In the result, the additional Ground No

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

v t . ( b l a n k ) K G 7 0 9 . 7 9 2 3 4 2 3 0 . 7 0 3 3 0 3 3 0 3 3 0 F o i l 0 . 1 3 x 2 4 8 Mm 2 1 9 8 L t d . 2 0 0 0 7 7 9 1

KUNSHAN Q TECH MICROELECTRONICS (INDIA) PVT. LTD.,UTTAR PRADESH vs. DCIT, CENTRAL CIRCLE-30, DELHI

pricing adjustment particularly when all the requisite details & documents were placed before the authorities with regard to purchase of capital assets and hence, the entire erroneous addition needs to be deleted.\n13. That on the facts, law and in the circumstances of the case, the Ld. AO as well as the Ld. DRP has erred in law in making addition

TUPPERWARE INDIA PRIVATE LIMITED,NEW DELHI vs. ACIT, CIRCLE-25(1) , NEW DELHI

In the result, the appeal of the assessee for AY 2018-19 is partly allowed for statistical purposes

Bench: Shri Mahavir Singh & Shri M. Balaganesh

Section 92F (v), an international transaction could include an arrangement, understanding or action in concert, this cannot be a matter of inference. There has to be some tangible evidence on record to show that two parties have "acted in concert". XXX XXX XXX 37. The provisions under Chapter X do envisage a 'separate entity concept'. In other words, there cannot

TUPPERWARE INDIA PRIVATE LIMITED,NEW DELHI vs. DCIT,CIRCLE-25(1), NEW DELHI

In the result, the appeal of the assessee for AY 2018-19 is partly allowed for statistical purposes

Bench: Shri Mahavir Singh & Shri M. Balaganesh

Section 92F (v), an international transaction could include an arrangement, understanding or action in concert, this cannot be a matter of inference. There has to be some tangible evidence on record to show that two parties have "acted in concert". XXX XXX XXX 37. The provisions under Chapter X do envisage a 'separate entity concept'. In other words, there cannot

PRAGATI POWER CORPORATION LTD,NEW DELHI vs. ACIT, CIRCLE 20(1), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

v. Reliance placed by the Assessing Officer on the judgement of Supreme Court in the case of Apollo Tyre is misplaced. Rather it supports the case of the assessee. The Assessing Officer is duty bound to rely upon the authenticity of books of accounts prepared by the assessee under the Companies Act. It is a trite law that only those

THOMSON PRESS (INDIA) LTD. vs. COMMISSIONER OF INCOME TAX-II

v. Income Tax Officer: (2013) 354 ITR 673 (SC), the Supreme Court referred to the above decision and considered the case where an Assessee had claimed interest on foreign currency deposits as profits and gains exempt under Section 10A of the Act. The Supreme Court referred to the decision of the Madras High Court in Menon Impex P. Ltd. (supra

THOMSON PRESS (INDIA) LTD. vs. COMMISSIONER OF INCOME TAX-II

v. Income Tax Officer: (2013) 354 ITR 673 (SC), the Supreme Court referred to the above decision and considered the case where an Assessee had claimed interest on foreign currency deposits as profits and gains exempt under Section 10A of the Act. The Supreme Court referred to the decision of the Madras High Court in Menon Impex P. Ltd. (supra

THOMSON PRESS (INDIA) LTD vs. COMMISSIONER OF INCOME TAX-II

v. Income Tax Officer: (2013) 354 ITR 673 (SC), the Supreme Court referred to the above decision and considered the case where an Assessee had claimed interest on foreign currency deposits as profits and gains exempt under Section 10A of the Act. The Supreme Court referred to the decision of the Madras High Court in Menon Impex P. Ltd. (supra