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)

C) The Tribunal by its order dated 22.04.2015 set aside the findings rendered by the first two authorities and held that transfer pricing adjustment made by the Assessing Officer was contrary to the mandatory instructions issued by CBDT2 in its Instruction No.3/2003 dated 20.05.2003. While allowing the appeal, the Tribunal observed as under:— "16.1 After considering the entire judicial discussion

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)

C) The Tribunal by its order dated 22.04.2015 set aside the findings rendered by the first two authorities and held that transfer pricing adjustment made by the Assessing Officer was contrary to the mandatory instructions issued by CBDT2 in its Instruction No.3/2003 dated 20.05.2003. While allowing the appeal, the Tribunal observed as under:— "16.1 After considering the entire judicial discussion

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

4 of 38 30. The aforesaid view that existence of an International transaction is a sine qua non for invoking the transfer pricing provisions contained in Chapter X of the Act, can be further supported by analysis of section 92(1) of the Act, which seeks to benchmark income / expenditure arising from an international transaction, having regard

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

4 of 38 30. The aforesaid view that existence of an International transaction is a sine qua non for invoking the transfer pricing provisions contained in Chapter X of the Act, can be further supported by analysis of section 92(1) of the Act, which seeks to benchmark income / expenditure arising from an international transaction, having regard

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

4. Brief facts of the case for that year shows that assessee filed its return of income on 30/10/2010 declaring loss of Rs 29905615/–. During the year, the assessee has acted like as an authorised agent for BBC worldwide Ltd (UK entity) for soliciting orders for sale of Air time, advertisement on BBC world channel, besides other market support

(Now known as Sony India Limited)

4) 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: Provided that no deduction under section 10A [or section 10AA] or section 10B or under Chapter VI-A shall be allowed

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

4. Foreign exchange risk Disclosed in transfer pricing report 5. Credit & collection risk Disclosed in transfer pricing report 6. Scheduling risk Not disclosed in transfer pricing report but actually borne by assessee. 7. Government & institutional risk Not disclosed in transfer pricing report but actually borne by assessee. 8. Operational risk Not disclosed in transfer pricing report but actually borne

PR. COMMISSIONER OF INCOME TAX, CENTRAL-1, DELHI vs. SMT. SANGEETA SAWHNEY

Bench: HON'BLE MR. JUSTICE VIBHU BAKHRU,HON'BLE MR. JUSTICE TEJAS KARIA

price. Expeditious nature of a remedy is concerned with the quick disposal and abhors unreasonable delays. Yet another facet of effective remedy is in its cohesiveness. 23. In conclusion, we hold that an application under Section 29A(5) for extension of the mandate of the arbitrator is maintainable even after the expiry of the time under Sections

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

The appeal is allowed

4 conditions (a) to (d) stipulated in sub-section (3) are satisfied then, the assessing officer may proceed to determine the arm’s length price in 2013:DHC:1680-DB ITA No. 1114/2008 Page 10 of 26 relation to the international transaction in accordance with the provisions of sub-section (1) and sub-section (2) of section

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

c). The Hon'ble High Court considered the quotations of Malaysian Palm Oil Board prices and quotation by One Oil World for comparability analysis Before us the ld DR has stated that that these data are not authentic. However, we do not find a whisper in the order of ld. Transfer Pricing Officer that the internal and external comparable data

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

c). The Hon'ble High Court considered the quotations of Malaysian Palm Oil Board prices and quotation by One Oil World for comparability analysis Before us the ld DR has stated that that these data are not authentic. However, we do not find a whisper in the order of ld. Transfer Pricing Officer that the internal and external comparable data

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)

4 issued by the Institute of cost and works accountants of India. The learned transfer-pricing officer initially stated Page 10 of 55 that assessee should have applied cost plus method as the most appropriate method. Assessee also submitted that the cost plus method, if applied, it will lead to the margin over the cost and will automatically increase

CIT vs. CUSHMAN AND WAKEFIELD INDIA PVT LTD

The appeal is partly allowed

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

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)

4 of 15 Ltd remained as a comparable. The Ld. transfer pricing officer computed the PLI of that comparable at 10.77% and compared it with the PLI of the assessee, which is 4.6% and therefore determined the difference of Rs. 30175982/- on account of adjustment. He did not propose any adjustment on receipt of cost recharges. 7. He further

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)

4. The learned TPO/ AO / DRP erred in passing order on incorrect factual assumption which is incorrect as per the records and submission made by the Appellant. 5. The learned TPO / AO / DRP have erred in: a. Not accepting the use of multiple year data, as adopted by the Appellant in its Transfer Pricing ("TP") documentation; and b. Determining

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

4. The Ld. AO/ Ld. TPO erred on facts and in law contravening provisions of Section 92C(3), in rejecting the Transfer Pricing ("TP") Documentation maintained by the Appellant under section 92D of the Act read with Rule 10D and in carrying out a fresh search for comparable companies by using inappropriate and arbitrary criteria. 5. On the facts

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)

Transfer Pricing benchmarking that each transaction has to be benchmarked separately unless rendered impossible for their inseparability. 1.4 The Hon'ble DRP has erred in not appreciating the fact that each transaction was very clearly distinguished by the Assessee itself in terms of not only its nature but also the amount paid for them and therefore, the conclusion

ACIT, NEW DELHI vs. M/S. HUMBOLDT WEDAG INDIA PVT. LTD., NEW DELHI

In the result ITA 3207/Del/2016 stands allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

section 92C(3) of the Act are not satisfied in the present case. 5. Without prejudice to Ground no. 2, on facts and in law, the Ld. AO/ Ld. TPO erred in rejecting the transfer pricing analysis undertaken by the Appellant in line with the Rule 10B(2) of the Rules to determine the arm's length price of international