WIPRO LIMITED vs. THE JOINT COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mr. Justice Krishna S.Dixit Writ Petition No.20040/2019 (T-It) Between:

Transfer Pricing Officer during the proceeding for assessment, reassessment made. The period as specified in sub- section (1)(2) & (3) shall be further extended by 12 months. 153(5) To give effect to the order of the higher authorities i.e. CIT (A), ITAT, HC and SC orders To give effect to an order passed by higher authorities other than those

PR COMMISSIONER OF vs. M/S ZYME SOLUTIONS P LTD

Bench: S.SUJATHA,VINEET KOTHARI

Transfer Pricing Adjustments’ made by the concerned authorities below. We consider it appropriate to quote the relevant portions hereunder: “17. We have perused the orders and heard the rival contentions. Ground taken by the Revenue is that foreign exchange loss/gain was not attributable to the operating activity of the assessee. Sole business revenue of the assessee was from the billings

PR. COMMISSIONER INCOME TAX -IV vs. M/S BROADCOM COMMUNICATIONS TECHNOLOGIES

Bench: S.SUJATHA,VINEET KOTHARI

depreciation at 60% & decision of ITAT, Bangalore Bench in the case of M/s. ING Vysys Bank, in ITA No.1143/Bang/2010 has not accepted by the Revenue and the issue has not reached finality?.” 3. The learned Tribunal, after discussing the rival contentions of both the Appellants-Revenue and the Respondent-assessee, has given the following findings against Revenue with regard

M/S WIPRO LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

price of the raw-material. If the MODVAT credit is availed by the assessee at the time of sale of finished products to that extent, he would be entitled to deduction. If MODVAT credit still remain unavailed, it is to be added to the closing balance and that has to be taken into consideration in deciding the profit earned

THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO LTD

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

price of the raw-material. If the MODVAT credit is availed by the assessee at the time of sale of finished products to that extent, he would be entitled to deduction. If MODVAT credit still remain unavailed, it is to be added to the closing balance and that has to be taken into consideration in deciding the profit earned

PR COMMISSIONER OF vs. M/S WIPRO LIMITED

In the result, the appeal is disposed of in terms

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Transfer Pricing Officer (TPO) to follow the directions given by the tribunal in earlier Assessment Year. The tribunal with regard to claim of assessee under Section 14A of the Act directed the Assessing Officer to follow the directions given the claim of the assessee under Section 14A of the Act set aside the finding recorded by the Assessing Officer

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

transfer more so when the payments are through banking channels, and consequently passed a perverse order on the facts and circumstance of the case. We have heard Sri A.Shanker, learned counsel for the appellant and Sri E.I.Sanmathi learned counsel for the respondent-department, as 7 well as Sri K.V.Aravind, learned counsel for the department appearing in the connected appeals

PRINCIPAL COMMISSIONER vs. M/S MAXIM NDIA INTEGRATED CIRCUIT DESIGN PVT LTD

The appeal is disposed of with liberty as prayed for by the learned

Bench: S.G.PANDIT,C.M. POONACHA

Transfer Pricing Officer even though the comparable’s chosen by said officer is in accordance with Rule 10B of the Act? 3) Whether on the facts and circumstances of the case and in law, the Tribunal is right in - 4 - NC: 2024:KHC:39701-DB ITA No. 48 of 2021 holding that, Infosys Technologies Limited, L&T Infortech Limited, Mindtree

M/S PADMINI PRODUCTS (P) LTD., vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the aforesaid

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

transfer of such asset was reduction of liability to income tax by claiming extra depreciation on enhanced cost. IN order to establish aforesaid fact, it has to be established that apart from claiming additional depreciation on enhanced cost there is no other main purpose for acquiring the asset in question and the Assessing Officer has to obtain the previous approval

THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO LTD

In the result, the appeals are partly allowed

Bench: B.MANOHAR,DILIP B.BHOSALE

depreciation? A-8. Whether the Tribunal was correct in holding that the donations made to Khandesh Education Society do not attract the provisions of Section 40A(9) of the Act? 7 5. In ITA 133/07, the following two substantial questions of law arise for our consideration: A-9. Whether the Tribunal was correct in holding that the stock transfers made

M/S INDUS TOWERS LTD vs. THE DEPUTY COMMISSIONER OF COMMERCIAL TAXES

In the result, we pass the following order:

Bench: RAVI MALIMATH,N.KUMAR

depreciation, it ‘crms (a i’s that t’it 9rc,cg3dure (icOptLd his hit ir.t o,nc un rlcpriruneru ftt i xtzirurj .zn)qr “LUU’V 1.4 .Ji,_. j%; c ‘ iion l.eu GIL u_’ ic’,S;, citLd 11W’ Lfl%i t Oil the. utaN” ii-Le ii i tqitally

NOVO NORDISK INDIA PRIVATE LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 12 (2

Bench: S.SUJATHA

Transfer Pricing Officer under Section 92CA(1) of the Act for determination of arm’s length price in respect of international transactions - 4 - reported by the petitioner during the subject Assessment year. TPO passed a detailed order under Section 92CA(3) of the Act accepting the arm’s length price reported by the petitioner in respect of its international transactions

HERBALIFE INTERNATIONAL INDIA PVT LTD vs. THE COMMISSIONER OF INCOME TAX

In the result, the assessee's appeal for

Bench: V KAMESWAR RAO,S RACHAIAH

depreciation nor there was even a whisper of this issue - 14 - ITA No. 433 of 2018 in the order of assessment for the AY:2008-09 dated 29.10.2012. In other words, it is his submission that in the order dated 29.10.2012, various other issues were considered, such as capitalization of 25% of royalty paid to Herbalife International Inc., Transfer Pricing

M/S T T K PRESTIGE LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mrs.Justice S.Sujatha

TRANSFER PRICING OFFICER AND ANOTHER’ [(2010) 320 ITR 565 [DELHI]. [e] ASSISTANT COMMISSIONER OF INCOME TAX AND OTHERS vs. ICICI SECURITIES PRIMARY DEALERSHIP LTD. [2012] 348 ITR 299 (SC) [f] ‘COMMISSIONER OF INCOME TAX vs. I.A.E.C. (PUMPS) LTD.,’ [(1998) 150 CTR SC 126 - 14 - 6. Submissions of the learned Counsel for the Revenue: Learned Counsel Sri. K.V. Aravind appearing

THE COMMISSIONER OF INCOME TAX vs. M/S MINDTECK (INDIA) LIMITED,

Bench: S.SUJATHA,VINEET KOTHARI

depreciation relation to the earlier assessment year? 2. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in directing the AO to exclude the expenditure incurred in foreign currency towards communication charges and travel expenses both from the export turnover and the total turnover when there is no provision in section

THE COMMISSIONER OF INCOME TAX vs. MAHABALESWARA ENTERPRISES

Appeals are partly allowed

Bench: B.MANOHAR,N.KUMAR

depreciation at the rate of 10 to 15% depending upon the asset and worked out the written down value (w.d.v.) from the total sale consideration of Rs.4 crores to arrive at the sale price of land. 3. The Assessing Authority did not accept the said w.d.v. The Assessing Authority also did not accept the case of the assessee that

PR COMMISSIONER OF INCOME TAX vs. M/S IND SING DEVELOPERS P LTD

The appeal is dismissed

Bench: B.V.NAGARATHNA,JAYANT PATEL

depreciation relating to fixed assets acquired for the development and related expenses and the sale price of the undivided share in the land at the rate of Rs.150/- per square foot payable by the intending purchasers as per Article 6 hereof. 8.3 The amount payable to the First Party under Article 8.1 be paid together with the sale price

THE COMMISSIONER OF INCOME-TAX vs. M/S ING VYSYA BANK LTD

The appeal is dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

depreciation rate is spelt out in the Schedule to the Income-tax Act in our opinion is not conclusive as to the nature of the expenditure and whether it resulted in enduring advantage to a particular assessee. It is nobody's case that the assessee is dealing with computer softwares or is in the business of any related services. Rather