EIH LIMITED,KOLKATA vs. DCIT, CIRCLE - 8(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2225/Kol/2017 Assessment Year : 2013-14 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Ravi Sharma, Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 03.09..2018 Date Of Pronouncement : 14.09.2018

92B of the Act in the facts and circumstances of the case, in as much as there was no guarantee fee charged by the assessee from its subsidiary company. In view of this observation, the adjudication of ground no. 1.4 raised by the assessee on the percentage of guarantee fee need not be gone into. Accordingly, ground

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

section 32(1)(ii) does not expressly prohibit the allowance of the balance 50 per cent depreciation In the subsequent year, then impliedly the appellant is legally entitled to remaining 50% of the additional depreciation, because in the year In which the machinery was first put to use the assessee claimed only 50 Per cent of additional depreciation. I find

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

section 32(1)(ii) does not expressly prohibit the allowance of the balance 50 per cent depreciation In the subsequent year, then impliedly the appellant is legally entitled to remaining 50% of the additional depreciation, because in the year In which the machinery was first put to use the assessee claimed only 50 Per cent of additional depreciation. I find

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

section 32(1)(ii) does not expressly prohibit the allowance of the balance 50 per cent depreciation In the subsequent year, then impliedly the appellant is legally entitled to remaining 50% of the additional depreciation, because in the year In which the machinery was first put to use the assessee claimed only 50 Per cent of additional depreciation. I find

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. M/S. GUJARAT NRE COKE LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sri J. Sudhakar Reddy& Sri Aby T. Varkey)

section 92B(1) of the Act In this regard, we would like to hold that issuance of corporate guarantee by the assessee to its AE would have 'influence on the profits, incomes, losses or assets of enterprise' but not necessarily have 'any impact on the profits, incomes, losses or assets' as admittedly no consideration was received by the assessee

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. M/S. GUJARAT NRE COKE LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sri J. Sudhakar Reddy& Sri Aby T. Varkey)

section 92B(1) of the Act In this regard, we would like to hold that issuance of corporate guarantee by the assessee to its AE would have 'influence on the profits, incomes, losses or assets of enterprise' but not necessarily have 'any impact on the profits, incomes, losses or assets' as admittedly no consideration was received by the assessee

EIH LIMITED,KOLKATA vs. D.C.I.T., INCOME TAX DEPARTMENT, NFAC, DELHI, KOLKATA

In the result, both the appeals of the assessee are partly allowed

Bench: SHRI RAJPAL YADAV, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

depreciation under section 32 of the Act on the said leased assets being the legal owner. 18. FOR THAT the DRP erred in applying the decision of the jurisdictional tribunal in the case of Phillips India and the Delhi High Court in the case of Rio Tinto, when both these cases have been reversed by the jurisdictional Tribunal

EIH LIMITED ,KOLKATA vs. DCIT, NFAC, DELHI

In the result, both the appeals of the assessee are partly allowed

Bench: SHRI RAJPAL YADAV, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

depreciation under section 32 of the Act on the said leased assets being the legal owner. 18. FOR THAT the DRP erred in applying the decision of the jurisdictional tribunal in the case of Phillips India and the Delhi High Court in the case of Rio Tinto, when both these cases have been reversed by the jurisdictional Tribunal

M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri George Mathan & Shri Rakesh Mishra

92B of the Act, the alleged transactions of corporate guarantee with the AE falls in the category of international transactions. Our view is further supported by the judgment of the Hon’ble Madras High Court in the case of Principal Commissioner of Income Tax 5 vs. M/s. Redington (India) Limited in T.C.A.Nos.590 & 591 of 2019 judgment dt.: 10.12.2020. Accordingly

DONGFANG ELECTRIC CORPORATION,KOLKATA vs. ACIT (INTERNATIONAL TAXATION), CIRCLE - 1(1), KOLKATA , KOLKATA

In the result, both appeals filed by the assessee are allowed

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.2563 & 2564/Kol/2017 ("नधा"रणवष" / Assessment Years: 2007-08 & 2008-09)

92B read with section 92F(v) of the Act ln this regard, we would like to have your kind attention to the Transfer Pricing provisions in the Act pertaining to the reference made by the Assessing Officer to the Transfer Pricing Officer. The provisions of section 92CA(1) of the Act states as under: "Where any person, being the assessee

DONGFANG ELECTRIC CORPORATION,KOLKATA vs. ACIT (INTERNATIONAL TAXATION), CIRCLE - 1(1), KOLKATA , KOLKATA

In the result, both appeals filed by the assessee are allowed

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.2563 & 2564/Kol/2017 ("नधा"रणवष" / Assessment Years: 2007-08 & 2008-09)

92B read with section 92F(v) of the Act ln this regard, we would like to have your kind attention to the Transfer Pricing provisions in the Act pertaining to the reference made by the Assessing Officer to the Transfer Pricing Officer. The provisions of section 92CA(1) of the Act states as under: "Where any person, being the assessee

DCIT, CIR-8(1), KOLKATA, KOLKATA vs. M/S EIH LTD., KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

section 32(1) of the Act. Therefore, the assessee fulfilled even the requirements for a claim of a higher rate of depreciation and was entitled thereto.” 37 A.Yrs.2011-12 Though this decision has been rendered on the allowability of depreciation on leased assets from the angle of the lessor, the principle laid down could be made very much applicable

EIH LTD.,KOLKATA vs. THE DCIT, CIR-8(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

section 32(1) of the Act. Therefore, the assessee fulfilled even the requirements for a claim of a higher rate of depreciation and was entitled thereto.” 37 A.Yrs.2011-12 Though this decision has been rendered on the allowability of depreciation on leased assets from the angle of the lessor, the principle laid down could be made very much applicable

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

92B. (1) For the purposes of this section and sections 92, 92C, 92D and 92E, "international transaction" means a transaction between two or more associated enterprises, either or both of whom are non-residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of services, or lending or borrowing money, or any other transaction

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

92B. (1) For the purposes of this section and sections 92, 92C, 92D and 92E, "international transaction" means a transaction between two or more associated enterprises, either or both of whom are non-residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of services, or lending or borrowing money, or any other transaction

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S DEEPAK INDUSTRIES LTD., KOLKATA

In the result, the appeal of the revenue and CO of the assessee in A

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 92B read with Rule 10B(1), 10C(1) & (2) as the eligible unit is a contract manufacturer and procuring semi-finished goods from Faridabad unit besides doing contractual job for the said non eligible unit. The said contention of the assessee finds support from the series of decision in the case of GE BE (P) Ltd. – ITA No. 815/Bang/2010

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S DEEPAK INDUSTRIES LTD., KOLKATA

In the result, the appeal of the revenue and CO of the assessee in A

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 92B read with Rule 10B(1), 10C(1) & (2) as the eligible unit is a contract manufacturer and procuring semi-finished goods from Faridabad unit besides doing contractual job for the said non eligible unit. The said contention of the assessee finds support from the series of decision in the case of GE BE (P) Ltd. – ITA No. 815/Bang/2010

M/S. PHILIPS INDIA LIMITED (FORMERLY PHILIPS ELECTRONICS INDIA LITD.),KOLKATA vs. ACIT, CIRCLE - 12(2), KOLKATA , KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Hon’Ble Shri A.T.Varkey, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 2489/Kol/2017 Assessment Year : 2013-14 M/S Philips India Ltd. -Vs- Acit, Circle-12(2), Kolkata (Formerly Philips Electronics India Ltd.) [Pan: Aabcp 9487 A] (Appellant) (Respondent)

92B of the Act, so as to invoke the provisions of section 92 of the Act; 3.3 The TPO erred in using the formula of AMP/Sales while determining the excess AMP spend, which tantamounts to bright line test and which has been rejected by the Hon’ble High Courts in various judgments; 3.4 The TPO erred in misinterpreting and placing

M/S PHILLIPS INDIA LIMITED,KOLKATA vs. ACIT, CIR-12(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 612/Kol/2017 Assessment Year : 2012-13 M/S Philips India Ltd. -Vs- Acit, Circle-12(2), Kolkata (Formerly Philips Electronics India Ltd.) [Pan: Aabcp 9487 A] (Appellant) (Respondent)

92B of the Act, so as to invoke the provisions of section 92 of the Act; 3.3 The TPO erred in using the formula of AMP/Sales while determining the excess AMP spend, which tantamount to bright line test and which has been rejected by the Hon’ble High Courts in various judgments; 3.4 Misinterpreting and placing incorrect reliance