M/S. DEVANSH EXPORTS,KOLKATA vs. ACIT, CIRCLE - 32, KOLKATA, KOLKATA

In the result, the appeal of assessee is allowed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

92E relating to International transaction were filed and the facts relating to sale to associated enterprises was duly reflected in the Audited accounts and Tax Audit report u/s. 44AB of the Act. According to Ld. AR, the entire sale of Iron ore to M/s. S.K Resources Ltd was at the prevailing market price and there was proper compliance relating

ARISTOCRAT RESIDENCES LLP ,KOLKATA vs. INCOME TAX OFFICER WARD 34 (1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar, Am & Shri Sonjoy Sarma, Jm Income Tax Officer, Ward Aristocrat Residences Llp 34(1) 2 Oswal Chambers Church Lane Aaykar Bhavan, Bbd Bagh, Kolkata-700001 Vs. Kolkata-700107 West Bengal West Bengal (Appellant) (Respondent) Pan No. Aavfa9997R Assessee By : Dr. Kapil Goel, Ar Revenue By : H. Robindro Singh, Dr Date Of Hearing: 06.02.2025 Date Of Pronouncement : 01.04.2025

section 92E] (c) where an assessment has been made, but- Aristocrat Residences LLP; A.Y. 2013-14 (i) income chargeable to tax has been underassessed; or (ii) such income has been assessed at too low a rate; or (iii) such income has been made the subject of excessive relief under this Act; or (iv) excessive loss or depreciation

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)

depreciation of Rs.4,54,98,363/-). During the relevant assessment year, the assessee had shown revenues to the tune of Rs.265,69,48,108/- for its PE in India from West Bengal Power Development Corporation Limited and Durgapur Projects Limited. 5. The contracts entered into by the assessee with the Indian parties suggest the scope of the contract, which

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)

depreciation of Rs.4,54,98,363/-). During the relevant assessment year, the assessee had shown revenues to the tune of Rs.265,69,48,108/- for its PE in India from West Bengal Power Development Corporation Limited and Durgapur Projects Limited. 5. The contracts entered into by the assessee with the Indian parties suggest the scope of the contract, which

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

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 having a bearing on the profits, in- come, losses or assets of such enterprises

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

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 having a bearing on the profits, in- come, losses or assets of such enterprises

SURESH KUMAR PODDAR,KOLKATA vs. I.T.O., WARD - 63(4), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: SHRI RAJESH KUMAR (Accountant Member)

section 92E] (c) where an assessment has been made, but- (i) income chargeable to tax has been underassessed; or (ii) such income has been assessed at too low a rate; or (iii) such income has been made the subject of excessive relief under this Act; or (iv) excessive loss or depreciation

M/S PHILIPS INDIA LTD.,KOLKATA vs. DCIT, CIR-12(2), KOLKATA, KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Depreciation & Amortization 12,570,870.00 Pg 53 AR 2011 Operating expenditure 163,352,592.00 Operating profit 26,137,865.00 OP/OC 16.00% Reconciliation Add: Other income 418,608.00 Pg 53 AR 2011 Less; Interest 1,851,986.00 Pg 53 AR 2011 PBT 242,704,487.00 PBT as penalty Financials 24,704,487.00 Pg 53 AR 2011 Difference -- The TPO is directed

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S PHILIPS INDIA LTD., KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Depreciation & Amortization 12,570,870.00 Pg 53 AR 2011 Operating expenditure 163,352,592.00 Operating profit 26,137,865.00 OP/OC 16.00% Reconciliation Add: Other income 418,608.00 Pg 53 AR 2011 Less; Interest 1,851,986.00 Pg 53 AR 2011 PBT 242,704,487.00 PBT as penalty Financials 24,704,487.00 Pg 53 AR 2011 Difference -- The TPO is directed

RUNGTA IRRIGATION LIMITED,DELHI vs. A.C.I.T., CENTRAL CIRCLE 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the\nrevenue stand dismissed

92E.\n(c) Whether it is a case of under assessment,\nassessment at too low rate, assessment which has,\nbeen made the subject of excessive relief or\nallowing of excessive loss or depreciation\n(d) Whether the assessee has understated the\nincome or has claimed excessive loss, deduction,\nallowance or relief in the return furnished in\nresponse to notice

RUNGTA IRRIGATION LIMITED,NEW DELHI vs. D.C.I.T., CENTRAL CIRCLE - 3(1), KOLKATA

In the result, all the appeals of the assessee are allowed and all the appeals of the\nrevenue stand dismissed

92E.\n(c) Whether it is a case of under assessment,\nassessment at too low rate, assessment which has,\nbeen made the subject of excessive relief or\nallowing of excessive loss or depreciation\n(d) Whether the assessee has understated the\nincome or has claimed excessive loss, deduction,\nallowance or relief in the return furnished in\nresponse to notice

KIPPY ENGINEERING PVT. LTD.,KOLKATA vs. ACIT, CC - 3(4), KOLKATA

In the result, the appeal of the assessee is allowed

92E\n(c) Whether it is a case of under assessment, Assessment\nat too low rate, assessment which has been made the Yes\nsubject of excessive relief or allowing of excessive\nloss or depreciation\n(d) Whether the assessee has understated the income or\nhas claimed excessive loss, deduction, allowance or NA\nrelief in the return furnished in response

WITZENMANN INDIA PVT. LTD.,CHENNAI vs. ACIT, CIR. -2(2), KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2009-10

depreciation figures used in the tax audit report are governed by tax laws and is not indicative of the production made by using the said machineries. 7.4. In relation to ground no. 3 in respect of working capital adjustment made by the assessee to eliminate material differences for comparability, it was submitted that assessee being in the start-up phase

DCI INDIA LTD.,KOLKATA vs. DCIT,CIR-10(1) KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri N. V. Vasudevan & Shri M. Balaganesh, I.T. A.No. 126 /Kol/2017 Assessment Years: 2010-11 Dic India Ltd. Dcit, Cir-10(1), Kolkata -Vs- [Pan :Aabbcc0703C] (Appellant) (Respondent) For The Appellant Sri D. S. Damle, Fca Sri G. Mallikarjuna, Cit, Dr. For The Respondent Date Of Hearing 22.03.2017 Date Of Pronouncement 05.04.2017

section 263 of the Act. 4. The ld. CIT issued a show cause notice u/s 263 of the Act to the assessee on the ground that the Royalty Payment of Rs 6,42,47,978/- to its Associated Enterprise (AE) (DIC Asia Pacific PTE Ltd of Singapore and DIC Corporation of Japan) as revenue expenditure for using technical knowhow

ITO, WD-2(2), KOLKATA, KOLKATA vs. M/S DATA CORE INDIA PVT. LTD., KOLKATA

In the result, the appeal of the assessee for the Asst Year 2010-11 is allowed, appeal of the revenue for Asst Year 2011-12 is dismissed and cross objection of the assessee for the Asst

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 387/Kol/2015 Assessment Year : 2010-11 M/S Data Core (India) Pvt. Ltd. -Vs- I.T.O., Ward-2(2), Kolkata [Pan: Aabcd 1188 Q] (Appellant) (Respondent)

Depreciation 5576986 3.51% 1423807 5.55% 7000793 Exchange Fluctuation 0 0 1908393 100% 1908393 (f) The purchase of material and foreign exchange loss has entirely been allocated to unrelated party. Hence in view of the above, the segmental provided of related and unrelated party is rejected and the segmental of audited accounts is relied upon for calculation

M/S DATA CORE (INDIA) PVT. LTD.,KOLKATA vs. ITO, WD-2(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee for the Asst Year 2010-11 is allowed, appeal of the revenue for Asst Year 2011-12 is dismissed and cross objection of the assessee for the Asst

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 387/Kol/2015 Assessment Year : 2010-11 M/S Data Core (India) Pvt. Ltd. -Vs- I.T.O., Ward-2(2), Kolkata [Pan: Aabcd 1188 Q] (Appellant) (Respondent)

Depreciation 5576986 3.51% 1423807 5.55% 7000793 Exchange Fluctuation 0 0 1908393 100% 1908393 (f) The purchase of material and foreign exchange loss has entirely been allocated to unrelated party. Hence in view of the above, the segmental provided of related and unrelated party is rejected and the segmental of audited accounts is relied upon for calculation

DCIT, CIR. 1(1), KOLKATA vs. M/S KYOCERA CTC PRECISION TOOLS PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2015-16 Deputy Commissioner Of Kyocera Ctc Precision Tools Income-Tax, Circle- 1(1), Pvt. Ltd., Kolkata Vs. Room No. 322, Centre Point, 21, Hemant Basu Sarani, Kolkata-700001. (Pan: Aaeck9063G) (Appellant) (Respondent)

section 92-C(2) of the Act read with Rule 10B of the Income Tax Rules, 1962 in respect of each method .separately. Clause (e) of Rule 10-B stipulates the manner in which the ALP in relation to an international transaction is to be determined by following the transactional net margin method. The same is reproduced as under