DODLA DAIRY LIMITED,HYDERABAD vs. DCIT CIRCLE -8(1), HYDERABAD

Bench: Us:

price of the profits earned by the chilling units ought to be considered as nil is to be accepted, the disallowance of the assessee's claim for deduction under Section 80IB(11A) of the Act, on the said basis could only be restricted to the profits earned by the chilling units, i.e., Rs. 17.38 crores. Accordingly, the Ld. AR submitted

OAKTON GLOBAL TECHNOLOGY SERVICES CENTRE (I) PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(2), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

75% of the sales Selection of companies 4) Not undertaking an objective comparative analysis and inter-alia selecting the following companies without appreciating that the same are not functionally comparable to the Appellant: a) Infobeans Technologies Limited; b) Larsen & Toubro Infotech Ltd; c) Persistent Systems Ltd; Rejection of comparables 5) Not undertaking an objective comparative analysis and interalia rejecting

OAKTON GLOBAL TECHNOLOGY SERVICES CENTRE (INDIA) PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

75% of the sales Selection of companies 4) Not undertaking an objective comparative analysis and inter-alia selecting the following companies without appreciating that the same are not functionally comparable to the Appellant: a) Infobeans Technologies Limited; b) Larsen & Toubro Infotech Ltd; c) Persistent Systems Ltd; Rejection of comparables 5) Not undertaking an objective comparative analysis and interalia rejecting

UBER INDIA SYSTEMS PRIVATE LIMITED (AS SUCCESSOR TO UBER INDIA RESEARCH AND DEVELOPMENT PRIVATE LIMITED),HYDERABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

Transfer Pricing Officer ('TPO') erred, and the Hon'ble Dispute Resolution Panel ('DRP') further erred in making an addition of INR 28,50,75,589 to the Appellant's total income based on the provisions of Chapter X of the Income- tax Act, 1961 ('the Act'). Final Assessment Order barred by limitation 2. On the facts and circumstances

SIGNODE INDIA LIMITED ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CIRCLE-3(1), HYDERABAD

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

section 32 of the Act which has been put to use in the subject financial year/assessment year and all other conditions for such grant were satisfied. 2.1.2. That the Ld. AO/DRP erred in relying on extraneous material and came to conclusion on conjectures and surmises that the building was not put to use, when the fact remains that the building

SIGNODE INDIA LIMITED,HYDERABAD vs. ACIT, CIRCLE-3(1), HYDERABAD

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

section 32 of the Act which has been put to use in the subject financial year/assessment year and all other conditions for such grant were satisfied. 2.1.2. That the Ld. AO/DRP erred in relying on extraneous material and came to conclusion on conjectures and surmises that the building was not put to use, when the fact remains that the building

VERMEIREN INDIA REHAB PRIVATE LIMITED,TIRUPATI vs. DCIT., CIRCLE-1(1), TIRUPATI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Manjunatha G & Shri Ravish Sood

Transfer Pricing Officer [in short “TPO”] for determination of Arm’s Length Price [in short “ALP”] in respect of international transactions u/sec. 92CA(1) of the Income Tax Act, 1961. The TPO had issued u/sec.92CA of the Act dated 07.11.2022 calling the 7 ITA.No.1315 /Hyd./2024 assessee for documentation maintained as prescribed u/sec.92D(3) of the Act. In response

INTERWRAP CORP PRIVATE LIMITED (SUCCESSOR OF OWENS CORNING INDUSTRIES (INDIA) PRIVATE LIMITED),MUMBAI vs. DCIT., CIRCLE -5(1), HYDERABAD

In the result, the appeal filed by the assessee is allowed in terms of our observations given hereinabove

Bench: SHRI VIJAY PAL RAO, HON'BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

75,11,880/-. The case was selected for scrutiny and, accordingly, notice under Section 143(2) of the Income-tax Act, 1961 was issued on 23.09.2019. Further, notices under Section 142(1) along with detailed questionnaire were issued on 21.12.2020 and 13.08.2021, to which the assessee submitted replies on 05.01.2021 and 17.08.2021. 6 Interwrap Corp Private Ltd 5. During

ADP PRIVATE LIMITED,HYDERABAD, TELANGANA vs. DCIT., CIRCLE 1(1), HYDERABAD, TELANGANA

In the result, the appeal filed by the assessee is allowed in terms of our observations given hereinabove

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

Transfer Pricing Officer ('Ld. TPO'), the Ld. A.O. and the Hon'ble DRP have erred in law by re-computing the total income of the Appellant for the relevant AY at INR 4,15,10,08,610/- as against INR 3,03,09,85,230/- as returned by the Appellant. 1.2 Impugned order of the Ld. AO, to the extent

HIGHRADIUS TECHNOLOGIES PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -2(1), HYDERABAD

Bench: Us:

transfer pricing study report, and selected a new set of comparables by applying filters, viz. (i). rejection of companies having R&D expenses in excess of 3% of sales; (ii). turnover filter of more than Rs. 1 crore; (iii). rejection of companies having export income of less than 75% of sales; (iv). employee cost filter of less than

PAREXEL INTERNATIONAL (INDIA) PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

section 92C, the arm’s length price in relation to an international transaction [or a specified domestic transaction] shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely ;— (a) to (b)** ** ** € transactional net margin method, by which,— (i) the net profit margin 15ransact by the enterprise from an international transaction

HYUNDAI MOTOR INDIA ENGINEERING PRIVATE LIMITED,HYDERABAD vs. DCIT CIRCLE -2(1), HYDERABAD

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri R.K. Panda & Shri Laliet Kumar

transfer pricing analysis / study prepared by the Appellant, without appreciating that none of the conditions mentioned in clauses (a) to (d) of Section 92C(3) of the Act were satisfied. 3. On the facts and in the circumstances of the case and in contrary to law, the Ld. TPO erred and the Hon'ble DRP further erred in upholding

DY. COMMISSIONER OF INCOME TAX ,(INTERNATIONAL TAXATION)-1, HYDERABAD vs. FAIR FIELD DEVELOPMENT LIMITED , CYPRUS

In the result, the appeal of Revenue in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2014-15 M/S. Fairfield Developments Vs. Dy. Commissioner Of Income Limited, Tax, Hyderabad. International Taxation – 1 Pan : Aabcf3158N Hyderabad. (Appellant) (Respondent) Ita 488/Hyd/2019 Assessment Year 2014-15 Dy. Commissioner Of Income Vs. M/S. Fairfield Developments Tax, Limited, International Taxation – 1, Hyderabad. Hyderabad. Pan : Aabcf3158N (Appellant) (Respondent) Assessee By: Shri Akshay Surana & Siddharth Surana, C.A Revenue By: Shri K.P.R.R. Murthy Date Of Hearing: 27.03.2023 Date Of Pronouncement: 25.04.2023 O R D E R Per Laliet Kumar, J.M. These Two Appeals Filed By The Assessee & The Revenue, Respectively, Are Directed Against The Order Of Commissioner Of Income Tax (Appeals) – 10, Hyderabad Dated 16.01.2019 For The Assessment Year 2014-15. 2 M/S. Fairfield Developments Limited

Transfer Pricing analysis but did not propose for any adjustment of income as the same has been proposed in case of WRPL on the same transaction to benchmark the interest paid/ payable on FCCD's denominated in INR at LIBOR plus 200 basis points. A copy of TPO order of WRL was forwarded to the appellant and notice dt.12.12.2017

FAIRFIELD DEVELOPMENT LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX ,(INTERNATIONAL TAXATION), HYDERABAD

In the result, the appeal of Revenue in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2014-15 M/S. Fairfield Developments Vs. Dy. Commissioner Of Income Limited, Tax, Hyderabad. International Taxation – 1 Pan : Aabcf3158N Hyderabad. (Appellant) (Respondent) Ita 488/Hyd/2019 Assessment Year 2014-15 Dy. Commissioner Of Income Vs. M/S. Fairfield Developments Tax, Limited, International Taxation – 1, Hyderabad. Hyderabad. Pan : Aabcf3158N (Appellant) (Respondent) Assessee By: Shri Akshay Surana & Siddharth Surana, C.A Revenue By: Shri K.P.R.R. Murthy Date Of Hearing: 27.03.2023 Date Of Pronouncement: 25.04.2023 O R D E R Per Laliet Kumar, J.M. These Two Appeals Filed By The Assessee & The Revenue, Respectively, Are Directed Against The Order Of Commissioner Of Income Tax (Appeals) – 10, Hyderabad Dated 16.01.2019 For The Assessment Year 2014-15. 2 M/S. Fairfield Developments Limited

Transfer Pricing analysis but did not propose for any adjustment of income as the same has been proposed in case of WRPL on the same transaction to benchmark the interest paid/ payable on FCCD's denominated in INR at LIBOR plus 200 basis points. A copy of TPO order of WRL was forwarded to the appellant and notice dt.12.12.2017

HETERO LABS LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Transfer Pricing Officer (TPO) was added to the total income of the assessee. Thereafter, the ALP adjustments on account of specified domestic transactions was proposed at Rs.34,15,08,428/-. The Assessing Officer also disallows Rs.1,88,12,419/- u/s 35(2AB) of the Act. Thus, the Assessing Officer passed the order assessing the total income at Rs.280,42,75

ACIT., CENTRAL CIRCLE 3(4), HYDERABAD vs. HETERO LABS LIMITED, HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Transfer Pricing Officer (TPO) was added to the total income of the assessee. Thereafter, the ALP adjustments on account of specified domestic transactions was proposed at Rs.34,15,08,428/-. The Assessing Officer also disallows Rs.1,88,12,419/- u/s 35(2AB) of the Act. Thus, the Assessing Officer passed the order assessing the total income at Rs.280,42,75

HETERO LABS LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Transfer Pricing Officer (TPO) was added to the total income of the assessee. Thereafter, the ALP adjustments on account of specified domestic transactions was proposed at Rs.34,15,08,428/-. The Assessing Officer also disallows Rs.1,88,12,419/- u/s 35(2AB) of the Act. Thus, the Assessing Officer passed the order assessing the total income at Rs.280,42,75

ACIT., CENTRAL CIRCLE 3(4), HYDERABAD, HYDERABAD vs. HETERO LABS LIMITED, HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Transfer Pricing Officer (TPO) was added to the total income of the assessee. Thereafter, the ALP adjustments on account of specified domestic transactions was proposed at Rs.34,15,08,428/-. The Assessing Officer also disallows Rs.1,88,12,419/- u/s 35(2AB) of the Act. Thus, the Assessing Officer passed the order assessing the total income at Rs.280,42,75

XILINX INDIA TECHNOLOGY SERVICES PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-17(2), HYDERABAD

In the result, the appeals filed by the assessee is partly allowed\nfor statistical purposes

section 37(1)\nof the Act and re-compute the total income for the subject AY 2015-16.\nTATA Exlsi Limited ('TATA Exlsi') should be excluded from list of comparables\n2.1 That on the facts and circumstances of the case and in law, the TPO/AO/DRP erred in\nconfirming the acceptance of Tata Exlsi Ltd as comparable company.\n2.2 That