(Now known as Sony India Limited)

Sections (1) and (2) to Section 92C are applicable to the assessed, as well as the Assessing Officer invoking power under Sub-Section (3) to Section 92C of the Act. As noted above, sub-section (2) to Section 92C stipulates that most appropriate method, out of the methods specified in sub-section (1) shall be applied to determine

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)

transfer of steam from eligible unit to non-eligible unit by considering the cost of production of the steam at Rs. Nil. 48. The ground number 4 is with respect to the disallowance u/s 14 A of the act. The learned authorised representative submitted that this issue is covered in favour of the assessee by the decision of the honourable

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 I4A.” 15. Now, we first take up the transfer pricing issue. The first ground of appeal is against action of the lower authorities disregarding and ignoring comparable uncontrolled price submitted for international transactions pertaining to purchase of machinery of Rs.40,55,59,818/-. 18 ITA No.1482/Del./2015 16. The brief facts of this issue are that for the purpose

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)

transfer pricing adjustment. He therefore submitted that the adjustment made by the learned assessing officer who is not empowered to do so cannot make any adjustment on account of arm‘s length price of the corporate guarantee. 46. He further referred to the fact that the special bench was constituted wherein it was submitted by the assessee that the assessee

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)

transfer pricing adjustment. He therefore submitted that the adjustment made by the learned assessing officer who is not empowered to do so cannot make any adjustment on account of arm‘s length price of the corporate guarantee. 46. He further referred to the fact that the special bench was constituted wherein it was submitted by the assessee that the assessee

RANBAXY LABORATORIES LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, we direct the AO to reduce the book profit u/s 115JB of the Act by the amount of reversal of the provision of Rs

Bench: Sh. I. C.Sudhir Judicialmember & Sh. Prashant Maharishia.Y.: - 2008-09 Ranbaxy Laboratories Ltd. Vs Acit 12Th Floor, Devika Tower, Range -15 6, Nehru Place New Delhi New Delhi Pan No. Aaacr0127N (Appellant) (Respondent)

54 taxmann.com 109 has held as under :- 13. We need not, therefore, go on to sub Rule (2) to Rule 8D of the Rules until and unless the Assessing Officer has first recorded the satisfaction, which is mandated by sub Section (2) to Section 14A of the Act and sub Rule (1) to Rule 8D of the Rules

AMADEUS INDIA PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, ITA NO. 7691/Del/2017 stands allowed

Bench: Shri N.S. Saini & Shri Sudhanshu Srivastava

transfer pricing related provision which is in the nature of a SAAR (specific anti- abuse rule), and that every anti-abuse legislation, whether SAAR (specific anti-abuse rule) or GAAR (general anti-abuse rule), is a legislation seeking the taxpayers to organise their affairs in a manner compliant with the norms set out in such anti-abuse legislation. An anti

AMADEUS INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, ITA NO. 7691/Del/2017 stands allowed

Bench: Shri N.S. Saini & Shri Sudhanshu Srivastava

transfer pricing related provision which is in the nature of a SAAR (specific anti- abuse rule), and that every anti-abuse legislation, whether SAAR (specific anti-abuse rule) or GAAR (general anti-abuse rule), is a legislation seeking the taxpayers to organise their affairs in a manner compliant with the norms set out in such anti-abuse legislation. An anti

AMADEUS INDIA PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 2(2), NEW DELHI

In the result, ITA NO. 7691/Del/2017 stands allowed

Bench: Shri N.S. Saini & Shri Sudhanshu Srivastava

transfer pricing related provision which is in the nature of a SAAR (specific anti- abuse rule), and that every anti-abuse legislation, whether SAAR (specific anti-abuse rule) or GAAR (general anti-abuse rule), is a legislation seeking the taxpayers to organise their affairs in a manner compliant with the norms set out in such anti-abuse legislation. An anti

DCIT, NEW DELHI vs. M/S JSL LTD.,, HISAR

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

Bench: Smt Diva Singh & Shri Prashant Maharishi

section 234B and 234C of the act which is consequential in nature, no arguments advanced on it, therefore same is also dismissed. 33. Now we deal with the first issue of Transfer pricing adjustment made by the learned assessing officer with respect to the arm‘s-length price of export of stainless steel made by the assessee to its associated

JINDAL STAINLESS LTD.,HISAR vs. DCIT, NEW DELHI

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

Bench: Smt Diva Singh & Shri Prashant Maharishi

section 234B and 234C of the act which is consequential in nature, no arguments advanced on it, therefore same is also dismissed. 33. Now we deal with the first issue of Transfer pricing adjustment made by the learned assessing officer with respect to the arm‘s-length price of export of stainless steel made by the assessee to its associated

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

54. The Court finds that the Division Bench in Sony Ericsson had occasion to deal with this very issue. In Sony Ericsson in para 156 after discussing the issue it was observed as under: “156. A Division Bench of Delhi High Court in the writ petition challenging the Transfer Pricing Order had dealt with transfer pricing issues and had enrolled

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

54. The Court finds that the Division Bench in Sony Ericsson had occasion to deal with this very issue. In Sony Ericsson in para 156 after discussing the issue it was observed as under: “156. A Division Bench of Delhi High Court in the writ petition challenging the Transfer Pricing Order had dealt with transfer pricing issues and had enrolled

GOODYEAR INDIA LTD.,,FARIDABAD vs. ACIT, NEW DELHI

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

transfer pricing in the case of LG Electronics India Pvt. Ltd. relied upon by the TPO in the impugned order, as erroneous and unacceptable. The Hon’ble Delhi High Court considering the dispute on facts of several 24. distributors laid down important transfer pricing principles, viz. (a) ‘Bright Line Test’ applied by the Revenue has no statutory mandate

SMT. HARMINDER KAUR,,NEW DELHI vs. ITO,, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri O.P. Kant[Through Video Conferencing]

price of the residential flat sold by the assessee and the cost of acquisition of the said house to tax as capital gains on the ground that the assessee had failed to satisfy the conditions laid down in s. 54(1) of the Act inasmuch as he had failed to purchase the flat within the stipulated period of one year

M/S. HONDA SIEL POWER PRODUCTS LTD.,GAUTAM BUDH NAGAR vs. DCIT, NEW DELHI

In the result, both the appeals of the assessee-company are partly allowed for statistical purposes

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

section 40(a)(i) are directed to be deleted. Accordingly, these grounds of appeal stand allowed. In view of this decision of co-ordinate Bench in the case of assessee, the advance ruling relied on by the ld. DR does not help the revenue, as the said ruling is binding on that applicant and not upon the Tribunal u/s. 245S

TRL RICELAND PVT. LTD.,(FORMERLY KNOWN AS M/S TILDA RICELAND P.LTD.),NEW DELHI vs. ADDL.CIT, SPECIAL RANGE- 9, NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing)

54,122. The case of the assessee was picked up for scrutiny and as assessee has entered into an international transaction, the case of the assessee was referred to the learned transfer pricing officer for determining arm’s-length price of the international transaction. The assessee has entered into international transaction of sale of Basmati rice

M/S TRL RICELAND PVT. LTD.,(FORMERLY KNOWN AS M/S TILDA RICELAND P.LTD.),NEW DELHI vs. ADDLCIT, NEW DELHI

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing)

54,122. The case of the assessee was picked up for scrutiny and as assessee has entered into an international transaction, the case of the assessee was referred to the learned transfer pricing officer for determining arm’s-length price of the international transaction. The assessee has entered into international transaction of sale of Basmati rice