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. We further, from the facts of the assessee’s case as stated above, where there is both exclusivity (resulting in huge capex for single user) advantage and uninterrupted power supply, we on facts, agree with the assessee’s claim that Rs. 1.50/unit is the minimum reliability surcharge at arm’s length principles. As regards

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. We further, from the facts of the assessee’s case as stated above, where there is both exclusivity (resulting in huge capex for single user) advantage and uninterrupted power supply, we on facts, agree with the assessee’s claim that Rs. 1.50/unit is the minimum reliability surcharge at arm’s length principles. As regards

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2, JAIPUR vs. M/S. ANGEL INFRASTRUCTURE PRIVATE LIMITED, JAIPUR

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

prices. In view of the above we hereby undertake that we will forgo the claim of the losses on the following transaction: S. No. Description of the transaction Amount Involved F.Y. Involved 1. Loss on account of forfeiture of share 30 Cr 2008-09 application money by M/s HH Interior and Auto Component Pvt. Ltd. 2. Loss on account

M/S ANGEL INFRASTRUCTURE (P) LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

prices. In view of the above we hereby undertake that we will forgo the claim of the losses on the following transaction: S. No. Description of the transaction Amount Involved F.Y. Involved 1. Loss on account of forfeiture of share 30 Cr 2008-09 application money by M/s HH Interior and Auto Component Pvt. Ltd. 2. Loss on account

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

loss or does not have any chargeable profits, then no education cess is payable, but the assessee can carry on his business activity. In other words, the education cess is chargeable only in the event of chargeable profits being there and not otherwise. The relevant legal precedents already cited clearly establish that education cess very much falls within the mischief

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

loss or does not have any chargeable profits, then no education cess is payable, but the assessee can carry on his business activity. In other words, the education cess is chargeable only in the event of chargeable profits being there and not otherwise. The relevant legal precedents already cited clearly establish that education cess very much falls within the mischief

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

loss or does not have any chargeable profits, then no education cess is payable, but the assessee can carry on his business activity. In other words, the education cess is chargeable only in the event of chargeable profits being there and not otherwise. The relevant legal precedents already cited clearly establish that education cess very much falls within the mischief

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

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

set of 31 companies and even higher than the median of the comparable set, computed at 14.84%. - 3. Further, even at net level, the Net Cost Plus ('NCP') margin earned by appellant is computed at 7.56%, which is higher than the arm's length margin i.e., the median of the comparable set of 31 companies, computed at 4.52%. - 4. Accordingly

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

transfer pricing adjustment/addition of Rs. 18,68,02,513/-and has Vaibhav Global Ltd. vs. ACIT stated that penalty U/s 271(1)(c) is leviable in accordance with explanation 7. Then, towards the end of assessment order, it has been stated that penalty proceedings U/s 271(1)(c) of the Act are initiated separately. 7. In the penalty order dated

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

transfer pricing adjustment/addition of Rs. 18,68,02,513/-and has Vaibhav Global Ltd. vs. ACIT stated that penalty U/s 271(1)(c) is leviable in accordance with explanation 7. Then, towards the end of assessment order, it has been stated that penalty proceedings U/s 271(1)(c) of the Act are initiated separately. 7. In the penalty order dated

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

In the result, the appeal of the assessee is allowed

transfer of the commodity or scrips: Provided that for the purposes of this clause- (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured

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 for the purpose of deduction u/s 80-IA of the Act. The said ground relates to non- consideration of component of reliability charge of Rs. 1.50 per unit which the power undertaking is eligible to charge for providing uninterrupted and quality power supply to the cement manufacturing units of the assessee. 3. Before

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

loss or \ndoes not have any chargeable profits, then no education cess is \npayable, but the assessee can carry on his business activity. In \nother words, the education cess is chargeable only in the event of \nchargeable profits being there and not otherwise. The relevant \nlegal precedents already cited clearly establish that education cess \nvery much falls within the mischief

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

Appeals are allowed for statistical purposes only

loss has to be given in computing of arm’s length price being the part of sale proceeds as well as comparable price. The adjustment on account of credit allowed to the AE beyond 60 days shall DCIT Vs. M/s Jaipur Rugs Co. Pvt. Ltd. be made at the time of determining the arm’s length price of sale transaction

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

Appeals are allowed for statistical purposes only

loss has to be given in computing of arm’s length price being the part of sale proceeds as well as comparable price. The adjustment on account of credit allowed to the AE beyond 60 days shall DCIT Vs. M/s Jaipur Rugs Co. Pvt. Ltd. be made at the time of determining the arm’s length price of sale transaction

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

Appeals are allowed for statistical purposes only

loss has to be given in computing of arm’s length price being the part of sale proceeds as well as comparable price. The adjustment on account of credit allowed to the AE beyond 60 days shall DCIT Vs. M/s Jaipur Rugs Co. Pvt. Ltd. be made at the time of determining the arm’s length price of sale transaction

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

Appeals are allowed for statistical purposes only

loss has to be given in computing of arm’s length price being the part of sale proceeds as well as comparable price. The adjustment on account of credit allowed to the AE beyond 60 days shall DCIT Vs. M/s Jaipur Rugs Co. Pvt. Ltd. be made at the time of determining the arm’s length price of sale transaction

NEERU MOHAN NAGPAL,JAIPUR vs. INCOME TAX OFFICER, ITO WARD 2(3)

In the result, the appeal of the assessee is allowed

set of to the extent of Rs. 27,90,552/- and balance amount of Rs. 10,67,547/- was carried forward to next year as Capital Loss. The assessee in the two grounds of appeal challenged the action of the lower authority in not granting the loss of Rs. 38,58,099/-. 10. The fact related to the claim

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)

price of power should further be increased by Reliability charge of Rs. 1.50 per unit while computing deduction u/s 80-1A of the Act as held in appellant's own case by this Hon'ble Tribunal for earlier years. [For Addl. Ground No.1] 3.0 Claim of deduction u/s 80-1A on eligible Solid Waste Management System