VAIBHAV GLOBAL LIMITED,JAIPUR vs. DCIT, CC-4, JAIPUR

Section \n92C(3) of the Act has not been satisfied. \n\nITA Nos.1144 &1486/JP/2024 \nVaibhav Global Limited vs. DCIT \n2. Under the facts and circumstances of the case and in law, the Id. TPO, Ld. AO \nand the Hon'ble DRP erred in rejecting the Transactional Net Margin Method \n(TNMM) considered by the appellant as the Most Appropriate Method

WORSHIP INFRAPROJECTS PRIVATE LIMITED,JAIPUR vs. DCIT, CEIRCLE-2, JAIPUR

In the result of the appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

TP adjustment made in pursuance of Section 92BA (1) - specified domestic transactions- HELD THAT: In the present case there is an adjustment made to the income of the assessee by determining arm's-length price of specified domestic provisions by invoking the provisions of Section 92BA (i) of the act. The impugned assessment year before us is assessment year

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S WORSHIP INFRAPROJECTS PVT LTD(PREVIOUSLY KNOWN AS OM METALS SPML INFRAPROJECTS PVT LTD), JAIPUR

In the result of the appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

TP adjustment made in pursuance of Section 92BA (1) - specified domestic transactions- HELD THAT: In the present case there is an adjustment made to the income of the assessee by determining arm's-length price of specified domestic provisions by invoking the provisions of Section 92BA (i) of the act. The impugned assessment year before us is assessment year

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

section 92C of the Income Tax Act. 3. During the course of assessment proceedings, the matter was referred by the Assessing officer to the Transfer Pricing Officer (TPO) and the TPO has adopted the CUP method for determination of arm’s length price and has proposed an adjustment of Rs. 18,65,77,973/- determined as the value of interest

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

section 92C of the Income Tax Act. 3. During the course of assessment proceedings, the matter was referred by the Assessing officer to the Transfer Pricing Officer (TPO) and the TPO has adopted the CUP method for determination of arm’s length price and has proposed an adjustment of Rs. 18,65,77,973/- determined as the value of interest

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed and disposed off in light of aforesaid directions

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavvaibhav Global Limited, Deputy Commissioner Of बनाम Jaipur. Income Tax, Central Circle-4, Jaipur. "थायी लेखा सं./Pan No: Aaacv4679F

section 144C(13) of the Act was passed by the Assessing officer on 13.11.2019 wherein adjustment on account of transfer pricing as proposed by the Transfer Pricing Officer was made and the assessed income was determined at Rs.57,36,47,429/-. 3. Against the draft assessment order, the assessee filed its objections before the Dispute Resolution Panel and after considering

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Section 33(4) of the 1922 Act, analogous to Section 250/254 of the 1961 Act) do not confer on the appellate authority a power to make any direction on matters not arising in the appeal, especially as the Act provides separate mechanisms (like Section 34 of 1922 Act, now Section 147) to deal with escaped income. Accordingly, the Apex Court

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Section 33(4) of the 1922 Act, analogous to Section 250/254 of the 1961 Act) do not confer on the appellate authority a power to make any direction on matters not arising in the appeal, especially as the Act provides separate mechanisms (like Section 34 of 1922 Act, now Section 147) to deal with escaped income. Accordingly, the Apex Court

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आंकड़ुठरधारी आइटीएए सं.र@ITA Nos.493, 495 to 498, 500/JP/2025 निर्धारण वर्ष@Assessment Years : 2014-15 to 2016-17, 2018-19 to 2020-21 Mahendra Kumar Goyal चुके Vs. ACIT/DCIT Ward No. 2, Shahpura Road Neem Ka Thana, Sikar Central Circle-03, Jaipur लेखा संख्याल्लेय सं.जीआइआर सं.पान@PAN/GIR No.: ACFPG0306G अपीलार्थी@Appellant प्रत्यार्थी@Respondent निर्धारीती की आर से@ Assessee by : Shri P. C. Parwal, CA राजस्व की आर से@ R

Section 33(4) of the 1922 Act, analogous to Section 250/254 of the 1961 Act) do not confer on the appellate authority a power to make any direction on matters not arising in the appeal, especially as the Act provides separate mechanisms (like Section 34 of 1922 Act, now Section 147) to deal with escaped income. Accordingly, the Apex Court

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Section 33(4) of the 1922 Act, analogous to Section 250/254 of the 1961 Act) do not confer on the appellate authority a power to make any direction on matters not arising in the appeal, especially as the Act provides separate mechanisms (like Section 34 of 1922 Act, now Section 147) to deal with escaped income. Accordingly, the Apex Court

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

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

Bench: or at the time of hearing of this appeal.

Section 80IA(8), the word "OR" is missing in provisions of Section 80A(6) of the ACIT vs. Shree Cement Ltd. Act. It is noted that as per provisions of Section 80A(6), if any goods or services whether sold or acquired falls within the category specified domestic transactions of Section 92BA then in such case it is mandatory

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

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

Bench: or at the time of hearing of this appeal.

Section 80IA(8), the word "OR" is missing in provisions of Section 80A(6) of the ACIT vs. Shree Cement Ltd. Act. It is noted that as per provisions of Section 80A(6), if any goods or services whether sold or acquired falls within the category specified domestic transactions of Section 92BA then in such case it is mandatory

DCIT, JAIPUR vs. M/S JAIPUR RUGS COMPANY PVT. LTD., JAIPUR

Appeals are allowed for statistical purposes only

68,461/- made by the A.O. on account of interest not charged from AE on outstanding receivables. Not appreciating the fact that the second proviso to Section 92C(2) is not applicable in the instance case, as the A.O. has applied CUP method of determining ARM’S LENGTH PRICE.” 3. The assessee is a company engaged in the business

DCIT, JAIPUR vs. JAIPUR RUGS COMPANY (P) LTD., JAIPUR

Appeals are allowed for statistical purposes only

68,461/- made by the A.O. on account of interest not charged from AE on outstanding receivables. Not appreciating the fact that the second proviso to Section 92C(2) is not applicable in the instance case, as the A.O. has applied CUP method of determining ARM’S LENGTH PRICE.” 3. The assessee is a company engaged in the business

JAIPUR RUGS COMPANY PVT. LTD.,JAIPUR vs. DCIT, JAIPUR

Appeals are allowed for statistical purposes only

68,461/- made by the A.O. on account of interest not charged from AE on outstanding receivables. Not appreciating the fact that the second proviso to Section 92C(2) is not applicable in the instance case, as the A.O. has applied CUP method of determining ARM’S LENGTH PRICE.” 3. The assessee is a company engaged in the business

JAIPUR RUGS COMPANY PVT. LTD.,JAIPUR vs. ACIT, JAIPUR

Appeals are allowed for statistical purposes only

68,461/- made by the A.O. on account of interest not charged from AE on outstanding receivables. Not appreciating the fact that the second proviso to Section 92C(2) is not applicable in the instance case, as the A.O. has applied CUP method of determining ARM’S LENGTH PRICE.” 3. The assessee is a company engaged in the business

SHREE CEMENT LIMITED,BEAWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AJMER

In the result, this appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

section (6) to provide that, with effect from 1-4-2012, the provisions of sub-section shall cease to have effect. Accordingly, a SEZ developer or any entrepreneur carrying on business in an SEZ unit (being a company) would be liable to pay MAT on the profits arising from the development of SEZ or the business carried

SHREE CEMENT LIMITED,BEAWAR vs. PR.CIT, , UDAIPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 04/Jp/2021 Assessment Year: 2014-15 Shree Cement Limited, Cuke Pr.Cit, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. Pan No.: Aaccs 8796 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Dilip Desai (Ca) Shri Vijay Shah (Ca) Shri Mohit Choudhary (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 01/04/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of Ld. Pcit, Udaipur Dated 03.02.2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short The Act) For The Assessment Year 2014-15. The Grounds Of Appeal Taken By The Assessee Are As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Principal Commissioner Of Income Tax – Udaipur, (Here- In- After Referred To As Ld. Pr. Cit) Was Not Justified In Initiating Proceedings U/S 263 Of The Income Tax Act, 1961 Since The Order Passed By The Assessing Officer (A.O.) Was Neither Erroneous Nor Prejudicial To The Interest Of The Revenue.

section 263 by the Commissioner proper and valid. [Para 16] (c) In the case of Jeevan Investment & Finance (P.) ltd. Vs CIT [2017] 88 taxmann.com 552 (Bombay], it has been held by the Hon'ble High Court that: " ..... merely asking a question which goes to the root of the matter and not carrying it further is a case