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)

15-12-2022 2022 (12) TMI 846 ITAT VISAKHAPATNAM. M/s. Worship Infraprojects Pvt. Ltd., Jaipur. (Case law Paper Book page 64-70) TP Adjustment-provisions of section 92BA(i) relating to expenditure referred in section 40A(2)(b) - As argued since clause (i) of section 92BA of the Act was omitted, payments made by the assessee U/s. 40A(2

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)

15-12-2022 2022 (12) TMI 846 ITAT VISAKHAPATNAM. M/s. Worship Infraprojects Pvt. Ltd., Jaipur. (Case law Paper Book page 64-70) TP Adjustment-provisions of section 92BA(i) relating to expenditure referred in section 40A(2)(b) - As argued since clause (i) of section 92BA of the Act was omitted, payments made by the assessee U/s. 40A(2

NARAIN LAL AGRAWAL,JAIPUR vs. DCIT CIRCLE 1 JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

price\nmentioned in the sale deed and stamp value levied under Stamp Duty Act\namounting to Rs.58,36,000/- has been brought to tax.\nDuring the course of appellate proceedings, the appellant has uploaded written\nsubmission, letter of allotment and the case laws relied upon in support of his\ncontention and claimed that the addition made deserves to be deleted

SHRI KRISHNARAJ BUILDHOME PVT LTD,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

transfer.]\nFrom the above, it is clear that the provisions of Sec. 43CA are pari material\nthe provisions of Sec. 50C of the IT Act, 1961. The procedure for making\nreference to valuation cell is the same in both these section. As held by\nvarious Courts in several cases, even the valuation report obtained from the\nValuation Cell

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

Accordingly, the same is dismissed

transfer price of power in terms of Sec. 92F(ii), keeping in mind, that in case of the Appellant, (1) it has incurred huge capex, for setting up the power undertaking exclusively for the CMUs and (2) it provides un interrupted power to CMUs. Alternatively, 15% markup may be allowed for each of the aforesaid advantages to the actual user

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.

transfer price of power in terms of Sec. 92F(ii), keeping in mind, that in case of the Appellant, (1) it has incurred huge capex, for setting up the power undertaking exclusively for the CMUs and (2) it provides un- interrupted power to CMUs. Alternatively, 15% markup may be allowed for each of the aforesaid advantages to the actual user

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.

transfer price of power in terms of Sec. 92F(ii), keeping in mind, that in case of the Appellant, (1) it has incurred huge capex, for setting up the power undertaking exclusively for the CMUs and (2) it provides un- interrupted power to CMUs. Alternatively, 15% markup may be allowed for each of the aforesaid advantages to the actual user

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

15. Loans and advances 45. A perusal of the assessment orders passed by the Assessing Officer would reveal that he disallowed interest claimed by the assessee on the amount of loans and advances to its subsidiaries, during the assessment years under consideration, 2015-16, 2016-17 and 2017-18, on the ground that the assessee was found to have utilized

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

15. Loans and advances 45. A perusal of the assessment orders passed by the Assessing Officer would reveal that he disallowed interest claimed by the assessee on the amount of loans and advances to its subsidiaries, during the assessment years under consideration, 2015-16, 2016-17 and 2017-18, on the ground that the assessee was found to have utilized

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

15. Loans and advances 45. A perusal of the assessment orders passed by the Assessing Officer would reveal that he disallowed interest claimed by the assessee on the amount of loans and advances to its subsidiaries, during the assessment years under consideration, 2015-16, 2016-17 and 2017-18, on the ground that the assessee was found to have utilized

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

transfer price of power in terms of Sec. 92F(ii), keeping in mind, that in case of the Appellant, (1) it has incurred huge capex, for setting up the power undertaking exclusively for the CMUs and (2) it provides un interrupted power to CMUs. Alternatively, 15% markup may be allowed for each of the aforesaid advantages to the actual user

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

15) For the purposes of this section, — (b) "eligible assessee" means, — (i) any person in whose case the variation referred to in sub-section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

15) For the purposes of this section, — (b) "eligible assessee" means, — (i) any person in whose case the variation referred to in sub-section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

15) For the purposes of this section, — (b) "eligible assessee" means, — (i) any person in whose case the variation referred to in sub-section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

15) For the purposes of this section, — (b) "eligible assessee" means, — (i) any person in whose case the variation referred to in sub-section (1) arises as a consequence of the order of the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From

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 of the IT Act. In the present case, there

RAJESH CHOUDHARY,GURGAON vs. ACIT CENTRAL CIRCLE, ALWAR, ALWAR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Transfer Pricing Officer" shall have the same meaning as assigned to it in the Explanation to section 92CA.] (2) No order shall be made under sub-section (1) after the expiry of two years from the end of the financial year in which the order sought to be revised was passed. (3) Notwithstanding anything contained in sub-section (2

HOLIDAY TRIANGLE TRAVEL PRIVATE LIMITED,GURGAON vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

15 Holiday Triangle Travel Pvt. Ltd., Gurgaon. an accountant as per the discounted Free Cash Flow method. Since the assessee has chosen the valuation method as permitted by law and therefore AO was not justified in rejecting the same. 3. The contention of the ld. CIT (A) that the appellant had chosen sub clause (ii) of explanation to section