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.

price for the purpose of Section 80A(6) of the Act. 30.11. The ld. D/R in his submissions relied strongly on the order of TPO and the method adopted by TPO for determining market rate of power. According to ld. D/R, TPO has adopted the rate of power at which Distribution companies purchase power from the Generating companies. We find

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.

price for the purpose of Section 80A(6) of the Act. 30.11. The ld. D/R in his submissions relied strongly on the order of TPO and the method adopted by TPO for determining market rate of power. According to ld. D/R, TPO has adopted the rate of power at which Distribution companies purchase power from the Generating companies. We find

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)

method, by which, - (i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions, is identified; (ii) such price is adjusted to account for differences, if any, between '[the international transaction or the specified domestic transaction] and the comparable uncontrolled transactions or between the enterprises entering into such

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)

method, by which, - (i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions, is identified; (ii) such price is adjusted to account for differences, if any, between '[the international transaction or the specified domestic transaction] and the comparable uncontrolled transactions or between the enterprises entering into such

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

TP adjustments. The adjustment so made are as under: a) Reduction in claim u/s 80-IA on power undertakings for an amount of Rs. 2,70,66,00,914/-. b) Reduction in claim u/s 80-IA on Solid Waste Management System for an amount of Rs. 90,55,18,397/-. c) Reduction in claim u/s 80-IA on Water Treatment

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

TP adjustments. The adjustment so made are as under: a) Reduction in claim u/s 80-IA on power undertakings for an amount of Rs. 2,70,66,00,914/-. b) Reduction in claim u/s 80-IA on Solid Waste Management System for an amount of Rs. 90,55,18,397/-. c) Reduction in claim u/s 80-IA on Water Treatment

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

TP adjustments. The adjustment so made are as under: a) Reduction in claim u/s 80-IA on power undertakings for an amount of Rs. 2,70,66,00,914/-. b) Reduction in claim u/s 80-IA on Solid Waste Management System for an amount of Rs. 90,55,18,397/-. c) Reduction in claim u/s 80-IA on Water Treatment

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

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 receivable @ 14.88% (SBI PLR plus 300 basis points) on loans given to Associated Enterprises (AEs) during the year and which were outstanding at the year end. Subsequently, the matter was taken up by the assessee

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

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 receivable @ 14.88% (SBI PLR plus 300 basis points) on loans given to Associated Enterprises (AEs) during the year and which were outstanding at the year end. Subsequently, the matter was taken up by the assessee

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

Appeals are allowed for statistical purposes only

method of working out arithmetic means instead of considering the rate and quantity of each transaction. Therefore, we find that a weighted average of price rate of the transactions with the AE as well as the non-AE will mitigate the scope of any variation or difference in the working out of the sale price of the international transactions

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

Appeals are allowed for statistical purposes only

method of working out arithmetic means instead of considering the rate and quantity of each transaction. Therefore, we find that a weighted average of price rate of the transactions with the AE as well as the non-AE will mitigate the scope of any variation or difference in the working out of the sale price of the international transactions

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

Appeals are allowed for statistical purposes only

method of working out arithmetic means instead of considering the rate and quantity of each transaction. Therefore, we find that a weighted average of price rate of the transactions with the AE as well as the non-AE will mitigate the scope of any variation or difference in the working out of the sale price of the international transactions

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

Appeals are allowed for statistical purposes only

method of working out arithmetic means instead of considering the rate and quantity of each transaction. Therefore, we find that a weighted average of price rate of the transactions with the AE as well as the non-AE will mitigate the scope of any variation or difference in the working out of the sale price of the international transactions

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

TP adjustments. The \nadjustment so made are as under:\na)\nReduction in claim u/s 80-IA on power undertakings for an \namount of Rs. 2,70,66,00,914/-.\nb)\nReduction in claim u/s 80-IA on Solid Waste Management \nSystem for an amount of Rs. 90,55,18,397/-.\nc)\nReduction in claim u/s 80-IA on Water Treatment

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

Method and the filters applied by the appellant in the Transfer Pricing \n(\"TP\") documentation maintained under section 92D of the Act read

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)

price paid for acquiring the rights of land and not the land itself and the ownership of the land vests with the lessor of Shree Cement Limited, Beawar. the land. The lessee is liable to return the land to its original owner after the expiry of the lease and does not have ownership rights over the land. On such facts

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)

Transfer Price of Power for the purpose of deduction u/s 80-IA of the Act. 15.1 The facts as placed by the appellant are that during the year the appellant had claimed deduction u/s 80-IA in respect of its power undertakings. The assessee – appellant filed Form No. 10CCB certifying the claim of deduction u/s 80IA was on record along

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

method, based on the average price charged by the AVVNL to the cement plant, i.e. Rs. 7.40 per unit. Whereas the TPO, benchmarked the transaction based on the supplies made by the Sasan Power Ltd., Shree Cement Ltd., Coastal Gujarat Tata/ NTPC/ PTC and Reliance etc. 6. Similar issue has been discussed by various coordinate benches and Hon’ble Jurisdictional