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)

10B. (1) For the purposes of sub-section (2) of section 92C, the arms 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) comparable uncontrolled price method, by which, - (i) the price charged or paid

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)

10B. (1) For the purposes of sub-section (2) of section 92C, the arms 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) comparable uncontrolled price method, by which, - (i) the price charged or paid

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

Accordingly, the same is dismissed

10B(2) and 10B(3) of the Income Tax Rules, 1962.” 30.12. The ld. A/R of the assessee also submitted that the rates at which power is purchased by distribution companies from generation companies are the rates charged by generation companies to middlemen (i.e. B2B business models) which are governed by altogether different level of market and are therefore

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

transfer of power.\n72. The ld. CIT (Appeals) after making detailed analysis on the aforesaid issue and relying upon the earlier decisions of Hon’ble Rajasthan High Court and Hon’ble Tribunal in assessee’s own case deleted the addition made by A.O. vide order dated 10.06.2021.\n73. Now the revenue is in appeal before us.\n74. Before

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

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)

transfer price) for determining the quantum of deduction under section 80IA already calimed in the original return of income. The judgment of Hon’ble Supreme Court in case ofWipro, is applicable to cases wherein “new claim” is filed by way of revised return for claiming “exemption” under section 10B

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

section 80IA(8) of the Act.\n30.10. Considering that TPO has disputed the Grid rate not to be\nthe market value in terms of provisions of Section 80A(6) of the\nAct, we would like to state here that that unlike Section 80IA(8),\nthe word \"OR\" is missing in provisions of Section 80A(6) of the\nAct

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

Transfer Pricing (\"TP\") documentation \nmaintained under section 92D of the Act read with Rule 10D of the Income Tax Rules, 1962 \n(the Rules) and subsequently applying new filters for the purpose of identification of \ncompanies comparable to the appellant. In doing so, the Ld. TPO, Ld. AO and the Hon’ble \nDRP failed to discharge the statutory onus

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

Appeals are allowed for statistical purposes only

10B of the Rules permits the aggregation of the transactions if the transactions are closely related even under CUP and consequently when the average price charged to the AE is within the tolerance range of + 5% of the arm’s length price then no adjustment is called for. In support of his contention, he has relied upon the decision

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

Appeals are allowed for statistical purposes only

10B of the Rules permits the aggregation of the transactions if the transactions are closely related even under CUP and consequently when the average price charged to the AE is within the tolerance range of + 5% of the arm’s length price then no adjustment is called for. In support of his contention, he has relied upon the decision

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

Appeals are allowed for statistical purposes only

10B of the Rules permits the aggregation of the transactions if the transactions are closely related even under CUP and consequently when the average price charged to the AE is within the tolerance range of + 5% of the arm’s length price then no adjustment is called for. In support of his contention, he has relied upon the decision

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

Appeals are allowed for statistical purposes only

10B of the Rules permits the aggregation of the transactions if the transactions are closely related even under CUP and consequently when the average price charged to the AE is within the tolerance range of + 5% of the arm’s length price then no adjustment is called for. In support of his contention, he has relied upon the decision

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

sections": [ "143(3)", "144C(13)", "144C(5)", "92D", "10D", "92C(3)", "92B", "92C", "115JB", "270A", "36(1)(va)", "115QA", "69C", "115QB", "10B(2)", "10C", "92", "10A" ], "issues": "The key issues involve the appropriateness of the transfer pricing

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated at the rate of four per cent of such income

LOVELY PROMOTERS PRIVATE LIMITED,KOLKATA vs. ACIT, CENTRAL CIRCLE, AJMER, AJMER

In the result, the appeal filed by the assessee is allowed

Bench: him regarding non mentioning of Document Identification Number (DIN) in the body of the order u/s. 127 of the Act dated 08-09-2021 and various other technical pleas raised in grounds of appeal regarding validity of notice u/s. 148 of the Act, thereby appellate order passed by the CIT(A) is non-speaking order and deserves to be quashed. 4. On the facts and in circumstances of the case and in law, the AO erred in issuing notice u/s. 148 of the Act as it was a search related case u/s. 132 r/w

section 147 in the reason was typographical error, if considered correct, 46 Lovely promoters Pvt. Ltd. vs. ACIT non-observation of such serious typographical error by two senior officers i.e. (i) Range Head forwarding reason to approval authority with recommendation for approval and (ii) Pr. CIT, approving Authority. Non observation of such serious typographical error led to the conclusion that

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

RAM KISHAN VERMA,KOTA vs. PCIT (CENTRAL), JAIPUR

In the result appeal of the assessee in the ITA No

10B.” 9.7Also refer Shri NandkumarBhalchandraBhondve in ITA No.943/PN/2014 dated 17.08.2016. 10. In any case if the contention of the ld. CIT is accepted that the AO always wanted to initiate under a correct provision of law but he committed an inadvertent error. Even assuming so then it might be legally covered by S.154 rectification of mistake being a mistake

HARISH JAIN,JAIPUR vs. PCIT (CENTRAL), JAIPUR

In the result appeal of the assessee in the ITA No

10B.” 9.7Also refer Shri NandkumarBhalchandraBhondve in ITA No.943/PN/2014 dated 17.08.2016. 10. In any case if the contention of the ld. CIT is accepted that the AO always wanted to initiate under a correct provision of law but he committed an inadvertent error. Even assuming so then it might be legally covered by S.154 rectification of mistake being a mistake