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

M/S RAMAVTAR KRISHANAVTAR,KOTA vs. INCOME TAX OFFICER, KOTA

In the result, the appeal of the assessee is partly allowed

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

transfer of the commodity or scrips: iv. That there was amendment in Section 43(5) of the act through finance act 2013 and sub clause (e) was newly inserted which is reproduce as under: 43(5)(e) an eligible transaction in respect of trading in commodity derivatives carried out in recognized stock exchange, which is chargeable to commodities transaction

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

Accordingly, the same is dismissed

transfer power directly to the ultimate industrial consumer i.e. the manufacturing units of assessee. 30.13. Further, the aspect as to why rate at which power is sold to 3rd parties including Power distribution companies should not be considered as internal CUP and hence considered for computing arm's length price under the Transfer Pricing regulations, needs to be dealt with

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

transfer power directly to the ultimate industrial consumer i.e. the manufacturing units of assessee.\n30.13. Further, the aspect as to why rate at which power is sold to 3rd parties including Power distribution companies should not be considered as internal CUP and hence considered for computing arm's length price under the Transfer Pricing regulations, needs to be dealt with

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. 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

LAL CHAND MEENA ,JAIPUR vs. ITO, WARD 7-3, JAIPUR

In the result, the appeal of the assessee is partly allowed

price do not arise for consideration. Hence, considering the legislative intent of section 45(3) vis-a-vis sec. 50C, it is incorrect to held that sec. 50C would override section 45(3). 7.6 It is further submitted that by Finance Bill, 2016, Sec. 50C is proposed to be amended w.e.f. 01.04.2017 to provide that where the date

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer

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. 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

WEALTHY SKY DEVELOPMENT PRIVATE LIMITED,JAIPUR vs. PR.CIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

section 43(5) of the Act pertaining to speculation transaction reproduced as under:- (5) 1 " speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips: Provided that for the purposes

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 of power adopted by the assessee in the said case. The Ld. D/R had nothing to defend against the aforesaid contention of the assessee. 8.4 Therefore, respectfully following the aforesaid decision of the coordinate bench of the Jodhpur Tribunal in the case of Hindustan Zinc (supra), we are of the view that reliability charge @15% of Grid rate

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

Section 144B(1)(xvi)(b) of the Act.\n2. That on the facts and in the circumstances of the case, the Ld. \nCIT(Appeals) was not justified and erred in rejecting the appellant’s \nclaim of allowing reliability charge of Rs. 1.5/unit in computing Transfer \nPrice of Power for the purpose of Deduction u/s 80-IA in respect

ACIT, CENTRAL CIRCLE, AJMER, AJMER vs. WONDER CEMENT LTD, MADANGANJ-KISHANGARH

In the result Ground No. 2 raised by the assessee is allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

transfer, then for the purpose of deduction under section 80-IA, the profits and gains of such eligible business shall be computed by adopting arm's length pricing. In other words, if the assessing officer rejects the price as not corresponding to the market value of such good, then he has to compute the sale price of the good

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

43\nCA applicable for the year under consideration are quoted below :-\n[Special provision for full value of consideration for transfer of assets other\nthan capital assets in certain cases.\n43CA. (1) Where the consideration received or accruing as a result of the\ntransfer by an assessee of an asset (other than a capital asset), being land or\nbuilding