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

price of the international transactions of the Appellant. General 11. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in upholding that brought forward losses and unabsorbed depreciation under Section 72 of the Act should be set-off against the taxable income of the Appellant determined after considering the transfer

(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

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)

Pricing Officer {hereinafter referred to as the “TPO”} had vide order dated 14th September 2011 accepted the ALP of all International Transactions undertaken by the appellant. 3.1 That on facts and in law the CIT(A) erred in upholding the addition on account of alleged “Transaction” / “International Transaction” of issue of Corporate Guarantee without appreciating that there was no corporate

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)

Pricing Officer {hereinafter referred to as the “TPO”} had vide order dated 14th September 2011 accepted the ALP of all International Transactions undertaken by the appellant. 3.1 That on facts and in law the CIT(A) erred in upholding the addition on account of alleged “Transaction” / “International Transaction” of issue of Corporate Guarantee without appreciating that there was no corporate

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)

Section (2) to Section 14A of the Act and sub Rule (1) to Rule 8D of the Rules. 14. The view and legal ratio expressed above is not being elucidated for the first time. The Delhi High Court in Maxopp Investment Ltd. v. CIT [2012] 347 ITR 272/203 Taxman 364/15 taxmann.com 390 has observed:- 'Scope of sub-sections

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

Pricing adjustment of Rs.114,98,39,926/- on account of Advertisement, Marketing and sales promotion expenses 3.1.That on facts and in law the AO/TPO/DRP erred in not appreciating that in absence of a “transaction” as envisaged under section 92F of the Act between appellant and its AE for brand promotion or for establishing a marketing intangible

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

Pricing adjustment of Rs.114,98,39,926/- on account of Advertisement, Marketing and sales promotion expenses 3.1.That on facts and in law the AO/TPO/DRP erred in not appreciating that in absence of a “transaction” as envisaged under section 92F of the Act between appellant and its AE for brand promotion or for establishing a marketing intangible

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

Pricing adjustment of Rs.114,98,39,926/- on account of Advertisement, Marketing and sales promotion expenses 3.1.That on facts and in law the AO/TPO/DRP erred in not appreciating that in absence of a “transaction” as envisaged under section 92F of the Act between appellant and its AE for brand promotion or for establishing a marketing intangible

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

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

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

transfer pricing 'adjustment'. This runs counter to legal position explained in CIT v. EKL Appliances Ltd. (2012) 345 ITR 241 (Del), which required a TPO "to examine the ‘international transaction’ as he actually finds the same.” In other words the very existence of an international transaction cannot be a matter for inference or surmise. 65. As already noticed, the decision

MARUTI SUZUKI INDIA LTD vs. COMMISSIONER OF INCOME TAX

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

transfer pricing 'adjustment'. This runs counter to legal position explained in CIT v. EKL Appliances Ltd. (2012) 345 ITR 241 (Del), which required a TPO "to examine the ‘international transaction’ as he actually finds the same.” In other words the very existence of an international transaction cannot be a matter for inference or surmise. 65. As already noticed, the decision

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

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

section 92C of the Act. 4.10 That the assessing officer erred on facts and in law in applying Bright Line Test (“BLT”) for computing adjustment on account of expenditure on advertisement and brand promotion expenses without appreciating that in absence of specific provision under the Transfer Pricing Regulations in India., adjustment on account of the arm’s length price

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 144C of the Income-tax Act, 1961 ( ‘Act’), is bad in law, violative of principles of natural justice and void ab-initio. 1.1 That assessing officer erred on facts and in law in computing the income of the appellant at Rs 43,72,68,200 against the returned total income of Rs.31,80,76,602. Transfer Pricing

M/S YAKULT DANONE INDIA PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result appeal filed by assessee stands allowed

Bench: Shri R.K.Panda & Smt. Beena A Pillaia.Y. 2011-12 Yakult Danone India P Ltd. D.C.I.T. Circle 27(1) 16, 1St Floor Vs. New Delhi Community Centre Okhla Industrial Area, Phase I New Delhi

transfer pricing adjustment in terms of Section 92 of the Act. 44. However, in the present appeals, the very existence of an international transaction is in issue. The specific case of MSIL is that the Revenue has failed to show the existence of any agreement, understanding or arrangement between MSIL and SMC regarding the AMP spend of MSIL

JAS FORWARDING WORLDWIDE PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result appeal of the assessee for assessment year 2011 – 12 is allowed for statistical purposes

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

72,790 against the proposed addition of ₹ 87,200,000/– in the transfer pricing order dated 28/1/2018. The learned dispute resolution panel also upheld the finding of the learned assessing officer and therefore the addition of ₹ 24,55,82,264 was made. Consequently in assessment order was passed u/s 143 (3) read with Section

JAS FORWARDING WORLDWIDE PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result appeal of the assessee for assessment year 2011 – 12 is allowed for statistical purposes

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

72,790 against the proposed addition of ₹ 87,200,000/– in the transfer pricing order dated 28/1/2018. The learned dispute resolution panel also upheld the finding of the learned assessing officer and therefore the addition of ₹ 24,55,82,264 was made. Consequently in assessment order was passed u/s 143 (3) read with Section