THERMODYNE DYNAMICS PRIVATE LIMITED,HYDERABAD vs. INCOME-TAX OFFICER, WARD -17(3), HYDERABAD

Bench: Us :

9. In the view of the above and other grounds that may be urged at the time of the hearing of the appeal, the Appellant prays that the appeal may be allowed in the interest of justice and equity.” 2. Succinctly stated, the assessee company had filed its return of income for A.Y. 2013-14 on 29.09.2013, declaring an income

SANGHI INDUSTRIES LIMITED,HYDERABAD vs. DCIT, CIRCLE -3 (1), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

9. Per contra, the Ld. DR had submitted that section 92BA provides the definition of the Specified Domestic Transaction, which is to the following effect: “Meaning of specified domestic transaction. 92BA. For the purposes of this section and sections 92, 92C, 92D and 92E, "specified domestic transaction" in case of an assessee means any of the following transactions, not being

SANGHI TEXTILES PRIVATE LIMITED,HYDERBAD vs. ITO., WARD-3(1), HYDERABAD

Bench: Us:

9 Sanghi Textiles Privarte Limited vs. ITO submitted to demonstrate the nexus between deposits and business income. The appellant failed to substantiate the cash flow, provide bank statements, or reconcile deposits with disclosed income. In absence of any verifiable explanation, the AO was justified in invoking section 698. The Hon'ble Delhi High Court in CIT v. Lubtec India

NATEMS SOLAR POWER PRIVATE LIMITED ,HYDERABAD vs. INCOME TAX OFFICER, WARD 16(1), HYDERABAD

Bench: Us:

9. Without prejudice, the Ld. AO and the Ld. TPO, under the directions of the Hon’ble DRP, erred in adding the amount of transfer pricing adjustment to the total income of the Appellant 4 Natems Solar Power Private Limited without appreciating the fact that Assessee has not claimed a deduction of the interest towards purchase on supplier credit

NUNHEMS INDIA PRIVATE LIMITED,R.R.DIST vs. JCIT, RANGE 16, HYDERABAD

In the result, the assessee’s appeal for the A

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

transfer does not require any human intervention and charges received or paid on account of this is not fees for technical services as envisaged in Section 194J read with Section 9(1)(vii) read with Explanation-2 of the Act. In case before us, the assessee has paid roaming charges i.e. IUC charges to various operators

NUNHEMS INDIA PRIVATE LIMITED,,HYDERABAD vs. ASST.CIT,CIRCLE 16(1),,

In the result, the assessee’s appeal for the A

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

transfer does not require any human intervention and charges received or paid on account of this is not fees for technical services as envisaged in Section 194J read with Section 9(1)(vii) read with Explanation-2 of the Act. In case before us, the assessee has paid roaming charges i.e. IUC charges to various operators

NUNHEMS INDIA PVT.LTD.,,R.R.DIST vs. ADDL.CIT, RANGE-16, HYDERABAD

In the result, the assessee’s appeal for the A

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

transfer does not require any human intervention and charges received or paid on account of this is not fees for technical services as envisaged in Section 194J read with Section 9(1)(vii) read with Explanation-2 of the Act. In case before us, the assessee has paid roaming charges i.e. IUC charges to various operators

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

transfer pricing issues (ground nos. 9 to 13), first ground is with respect to disallowance of provision for site restoration fund. With regard to ground no.9, ld.AR has drawn our attention to Para 2.8 at Page 30 of the DRP order whereby the DRP has provided as under : Zuari Cement Limited, Kadapa “2.8.1 Having considered the submissions, we note that

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

transfer pricing issues (ground nos. 9 to 13), first ground is with respect to disallowance of provision for site restoration fund. With regard to ground no.9, ld.AR has drawn our attention to Para 2.8 at Page 30 of the DRP order whereby the DRP has provided as under : Zuari Cement Limited, Kadapa “2.8.1 Having considered the submissions, we note that

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

transfer pricing issues (ground nos. 9 to 13), first ground is with respect to disallowance of provision for site restoration fund. With regard to ground no.9, ld.AR has drawn our attention to Para 2.8 at Page 30 of the DRP order whereby the DRP has provided as under : Zuari Cement Limited, Kadapa “2.8.1 Having considered the submissions, we note that

ZUARI CEMENT LIMITED ,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

transfer pricing issues (ground nos. 9 to 13), first ground is with respect to disallowance of provision for site restoration fund. With regard to ground no.9, ld.AR has drawn our attention to Para 2.8 at Page 30 of the DRP order whereby the DRP has provided as under : Zuari Cement Limited, Kadapa “2.8.1 Having considered the submissions, we note that

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

transfer pricing issues (ground nos. 9 to 13), first ground is with respect to disallowance of provision for site restoration fund. With regard to ground no.9, ld.AR has drawn our attention to Para 2.8 at Page 30 of the DRP order whereby the DRP has provided as under : Zuari Cement Limited, Kadapa “2.8.1 Having considered the submissions, we note that

VITP PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-17(2), HYDERABAD

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

transferring unlisted shares at prices much below their fair market value, it is proposed to amend section 56 to also include within its ambit transactions undertaken in shares of a company (not being a company in which public are substantially interested) either for inadequate consideration or without consideration where the recipient is a firm or a company (not being

VITP PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-17(2), HYDERABAD

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

transferring unlisted shares at prices much below their fair market value, it is proposed to amend section 56 to also include within its ambit transactions undertaken in shares of a company (not being a company in which public are substantially interested) either for inadequate consideration or without consideration where the recipient is a firm or a company (not being

MBS IMPES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(1), HYDERABAD

In the result, both the appeals of the assessees are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2010-11 Mbs Impex Pvt. Ltd., Vs. Dy. Commissioner Of Hyderabad. Income-Tax, Central Circle – 3(1), Pan – Aaccm 2968E Hyderabad. (Appellant) (Respondent) Assessment Year: 2010-11 Mbs Jeweller Pvt. Ltd., Vs. Dy. Commissioner Of Hyderabad. Income-Tax, Central Circle – 3(1), Pan – Aaecm 7050M Hyderabad. (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Y.V.S.T. Sai, Cit-Dr Date Of Hearing: 13/12/2021 Date Of Pronouncement: 07/01/2022

price. Share purchase agreements with the share holder of Mis. Gold Stone Technologies Private Limited were also seized during the search. Transfer of land to assessee group is also evident from various sale deeds. :- 15 -: ITA Nos. 330 & 331/Hyd/2018 MBS Impes Pvt. Ltd. and another, Hyd. 11. It is submitted that it is evident from the statement of Shri Sukesh

MBS JEWELLER PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, HYDERABAD

In the result, both the appeals of the assessees are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2010-11 Mbs Impex Pvt. Ltd., Vs. Dy. Commissioner Of Hyderabad. Income-Tax, Central Circle – 3(1), Pan – Aaccm 2968E Hyderabad. (Appellant) (Respondent) Assessment Year: 2010-11 Mbs Jeweller Pvt. Ltd., Vs. Dy. Commissioner Of Hyderabad. Income-Tax, Central Circle – 3(1), Pan – Aaecm 7050M Hyderabad. (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Y.V.S.T. Sai, Cit-Dr Date Of Hearing: 13/12/2021 Date Of Pronouncement: 07/01/2022

price. Share purchase agreements with the share holder of Mis. Gold Stone Technologies Private Limited were also seized during the search. Transfer of land to assessee group is also evident from various sale deeds. :- 15 -: ITA Nos. 330 & 331/Hyd/2018 MBS Impes Pvt. Ltd. and another, Hyd. 11. It is submitted that it is evident from the statement of Shri Sukesh

COMM VAULT SYSTEMS (INDIA) PVT.LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYD, HYDERABAD

In the result, assessee’s appeal is partly allowed

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahm/S. Comm Vault Systems Vs Dy. Commissioner Of Income (India) Private Limited Tax, Circle 1(2) Hyderabad Hyderabad Pan: Aaccc 3708 L (Appellant) (Respondent)

9) Levy of interest under section 234D of the Act Imposing interest under section 234 D of the Act on the transfer pricing adjustments. 10) Levy of penalty under section 271(1)(C), 272BA and 271AA of the Act Imposing penalty under section 271(1)(C), 272BA and 271AA of the Act. The Appellant craves, to consider each

OPTUM GLOBAL SOLUTIONS (INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT CIRCLE -5(1), HYDERABAD

In the result, both the appeals of assessee are partly allowed

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

transfer pricing adjustment qua the provision of IT services. 3. When the assessee filed objections before the learned DRP, learned DRP, while confirming the disallowance of deduction under section 80G of the Act, issued certain directions. Though the assessee filed this appeal on several grounds, many grounds were withdrawn, stating the assessee had relief in respect of some issues

OPTUM GLOBAL SOLUTIONS (INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE -5(1), HYDERABAD

In the result, both the appeals of assessee are partly allowed

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

transfer pricing adjustment qua the provision of IT services. 3. When the assessee filed objections before the learned DRP, learned DRP, while confirming the disallowance of deduction under section 80G of the Act, issued certain directions. Though the assessee filed this appeal on several grounds, many grounds were withdrawn, stating the assessee had relief in respect of some issues