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

transfer of these assets was for reduction of a liability of income tax by excess depreciation with reference to the enhanced cost and, therefore Explanation 3 to section 43(1) gets attracted. Accordingly, the AO has taken the WDV of the assets as per Explanation 3 of section 43(1) of the Act from the books of account

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

transfer of these assets was for reduction of a liability of income tax by excess depreciation with reference to the enhanced cost and, therefore Explanation 3 to section 43(1) gets attracted. Accordingly, the AO has taken the WDV of the assets as per Explanation 3 of section 43(1) of the Act from the books of account

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

transfer of these assets was for reduction of a liability of income tax by excess depreciation with reference to the enhanced cost and, therefore Explanation 3 to section 43(1) gets attracted. Accordingly, the AO has taken the WDV of the assets as per Explanation 3 of section 43(1) of the Act from the books of account

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

1) thus is explicit that the only manner of effecting a transfer pricing adjustment is to substitute the transaction price with the arm's length price so determined. The second proviso to section 92C(2) provides a "gateway" by stipulating that if the variation between the arm's length price and the transaction price does not exceed the specified percentage

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

1) thus is explicit that the only manner of effecting a transfer pricing adjustment is to substitute the transaction price with the arm's length price so determined. The second proviso to section 92C(2) provides a "gateway" by stipulating that if the variation between the arm's length price and the transaction price does not exceed the specified percentage

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

1) of the Act. The DRP while issuing directions under section 144C(5) of the Act did not allow reasonable opportunity to the Appellant to fight the case on merits. The directions of the DRP are erroneous and perverse on facts. Transfer Pricing ("TP") Adjustment - INR 2,20,48,880 2. The addition of INR 2,20,48,880 recommended

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

CIT vs. CUSHMAN AND WAKEFIELD INDIA PVT LTD

The appeal is partly allowed

1 16.3% 6874 11489 183 63 6.5 124.770 Kore a 24252 0.66% 324499 2 12.4% 1389 8685 100 73 3.6 47.784 Sing apore 13378 2 3.63% 165523 9 6.3% 7659 4430 120 89 4.3 47.926 C& W Asia 36844 97 100 % 262736 33 100% 2109 49 70316 281 265 100 % 517.083 31. As explained, for 82.44% share of the revenue

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

43,77,827. The AO passed the final assessment order dated 30.03.2022 under section 143(3) read with section 254, assessing the total income of the Petitioner at Rs. 3,29,33,145, after making revised transfer pricing adjustment as proposed by the TPO and disallowance of deduction claimed under section 10B of the Act.  Said final assessment order

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

43,77,827. The AO passed the final assessment order dated 30.03.2022 under section 143(3) read with section 254, assessing the total income of the Petitioner at Rs. 3,29,33,145, after making revised transfer pricing adjustment as proposed by the TPO and disallowance of deduction claimed under section 10B of the Act.  Said final assessment order

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

43,77,827. The AO passed the final assessment order dated 30.03.2022 under section 143(3) read with section 254, assessing the total income of the Petitioner at Rs. 3,29,33,145, after making revised transfer pricing adjustment as proposed by the TPO and disallowance of deduction claimed under section 10B of the Act.  Said final assessment order

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 of IT Act. As per this provision, the arm‟s length price in relation to an international transaction shall be determined by the „most appropriate method‟ out of the prescribed methods i.e. a) comparable uncontrolled price method; b) resale price method; c) cost plus method; d) transactional net margin method; e) profit split method and f) any method

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

section 144C (13) of the income tax act, 1961 on 20/1/2015 at a loss of INR 3 22321156/–. Such order was passed, as the learned dispute resolution panel did not give any relief to the assessee. Against that, order assessee is in appeal before us. 34. Ground number 1 of the appeal is general in the nature

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

section 144C (13) of the income tax act, 1961 on 20/1/2015 at a loss of INR 3 22321156/–. Such order was passed, as the learned dispute resolution panel did not give any relief to the assessee. Against that, order assessee is in appeal before us. 34. Ground number 1 of the appeal is general in the nature

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. Whether the additions suggested by the Transfer Pricing Officer on account of Advertising Marketing and Promotion Expenses ('AMP Expenses' for short) was beyond jurisdiction and bad in law as no specific reference was made by the Assessing Officer with regard to retrospective amendment to Section 92CA of the Income Tax Act, 1961 by the Finance Act, 2012. 2. Whether

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. Whether the additions suggested by the Transfer Pricing Officer on account of Advertising Marketing and Promotion Expenses ('AMP Expenses' for short) was beyond jurisdiction and bad in law as no specific reference was made by the Assessing Officer with regard to retrospective amendment to Section 92CA of the Income Tax Act, 1961 by the Finance Act, 2012. 2. Whether

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)

1), New Delhi {hereinafter referred to as the “AO”} under section 143(3) of the Income Tax Act, 1961 {hereinafter referred to as “the Act”} is barred by limitation and hence bad in law. 1.1 That on facts and in law, the CIT (A) erred in law in holding that the impugned assessment completed under section

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)

1), New Delhi {hereinafter referred to as the “AO”} under section 143(3) of the Income Tax Act, 1961 {hereinafter referred to as “the Act”} is barred by limitation and hence bad in law. 1.1 That on facts and in law, the CIT (A) erred in law in holding that the impugned assessment completed under section