MADHUBAN DEALERS PVT. LTD. PRESENTLY KNOWN AS MADHUBAN DEALERS LLP,KOLKATA vs. PCIT-13, KOLKATA

In the result, the appeal of assessee allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

147 read with 144 of the Act, the Ld. AR stated that before forming reason to believe on the basis of such information there has to be application of mind in an objective manner by the AO and only thereafter, there should be formation of belief. In the last of his argument, the Ld. AR relied on the following

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

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

144C was passed on 31.10.2016 with total income of Rs. 4,11,86,92,370/-. Subsequently the AO reopened the assessment u/s 147 of the Act by issuing notice u/s 148 of the Act dated 29.03.2017 and the assessment was framed u/s 147/144/254/143(3) dated 27.12.2016 by making various additions. Pertinent to note that the assessee has not filed

M/S PHILIPS INDIA LIMITED (FORMERLY PHILIPS ELECTRONICS INDIA LTD.,KOLKATA vs. A.C.I.T.,CIRCLE-12(2), KOLKATA

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

144C was passed on 31.10.2016 with total income of Rs. 4,11,86,92,370/-. Subsequently the AO reopened the assessment u/s 147 of the Act by issuing notice u/s 148 of the Act dated 29.03.2017 and the assessment was framed u/s 147/144/254/143(3) dated 27.12.2016 by making various additions. Pertinent to note that the assessee has not filed

M/S BUCYRUS INDIA PVT. LTD.,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

Bench: : Shri M. Balaganesh

147 read with section 144C pursuant to the directions of the DRP. 7. Reassessment barred by limitation The Learned AO argued that the reassessment is barred by limitation. He argued that the notice u/s 148 was issued on the assessee on 26.3.2014. The time limit for ITA No. 616/Kol/2015-A-AM 10 M/s.Bucyrus (I) P.Ltd Merged with M/s. Caterpillar

NOMURA RESEARCH INSTITUTE FINANCIAL TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. D.C.I.T.CIRCLE-2(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

section 147 of the Act. Hence we hold that no addition in the sum of Rs. 2,43,53,752/- towards adjustment to ALP could be made in the reassessment. Once this addition goes, then the very root of the reassessment proceedings also vanishes and no other addition could be made thereon. Accordingly, the entire reassessment proceedings deserve

M/S LABVANTAGE SOLUTIONS PVT. LTD.,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

144C(15)(b) of the Act and accordingly the ld DRP cannot assume jurisdiction and directed the ld AO to proceed as per law. (xi) The ld AR argued that the entire addition of Rs. 2,43,53,752/- made in the reassessment based on ld TPO’s order , which was passed vide illegal reference, deserves to be deleted

DCIT, CIR-2(1), KOLKATA, KOLKATA vs. M/S LABVANTAGE SOLUTIONS PVT. LTD., KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

144C(15)(b) of the Act and accordingly the ld DRP cannot assume jurisdiction and directed the ld AO to proceed as per law. (xi) The ld AR argued that the entire addition of Rs. 2,43,53,752/- made in the reassessment based on ld TPO’s order , which was passed vide illegal reference, deserves to be deleted

M/S LABVANTAGE SOLUTIONS PVT. LTD.,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

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

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

144C(15)(b) of the Act and accordingly the ld DRP cannot assume jurisdiction and directed the ld AO to proceed as per law. (xi) The ld AR argued that the entire addition of Rs. 2,43,53,752/- made in the reassessment based on ld TPO’s order , which was passed vide illegal reference, deserves to be deleted

WITZENMANN INDIA PRIVATE LIMITED,KOLKATA vs. D.C.I.T.,CIRCLE-2(2), KOLKATA

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1423/Kol/2019 Assessment Year: 2014-15 Witzenmann India Private Limited....……….........…..........….…… Appellant Nsc Building, Plot No.12, Block – Aq, Sector-V, Salt Lake City, Kolkata-91. [Pan: Aaach7739L] Vs. Dcit, Circle-2(2), Kolkata.......….....…….............…...…...…..…..... Respondent Appearances By: Shri Arun Chhabra, Ca, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 16, 2022 Date Of Pronouncing The Order : January 10, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Of Assessment Dated Passed By The Assessing Officer U/S 147 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Pursuant To The Transfer Pricing Adjustment. 2. At The Outset, The Ld. Counsel For The Assessee Has Submitted That The Impugned Order Passed By The Assessing Officer Dated 12.04.2019 U/S 143(3)/147 Read With Section 144C & 144C(5) Of The Act Was Wrong & Illegal & Void Ab Initio. The Ld. Counsel Has Invited Our Attention To The Following Sequence Of Events: Particulars In Case Of The Appellant

147 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) pursuant to the transfer pricing adjustment. 2. At the outset, the ld. counsel for the assessee has submitted that the impugned order passed by the Assessing Officer dated 12.04.2019 u/s 143(3)/147 read with section 144C & 144C(5) of the Act was wrong and illegal

ITC LIMITED,KOLKATA vs. DCIT, CIR-7(1), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed and both\nthe appeals of the revenue are dismissed

147 of the Act after expiry of two years from the end of\nfinancial year in which the notice u/s 148 was issued. The Id. AR\nsubmitted that the\nassessee has challenged the assessment\nproceedings by filing the writ petition before the Hon'ble Calcutta High\nCourt and Hon'ble High Court has passed an interim order directing\nthe revenue

ACIT, CIRCLE-7(1), KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ITC LIMITED, KOLKATA. ,KOLKATA vs. DCIT,CIR-7(1),KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ACIT, CIRCLE-7.1, KOLKATA, AAYAKAR BHAWAN vs. ITC LIMITED, KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

ACIT, CIRCLE-7(1), KOLKATA, KOLKATA vs. HI TECH SYSTEMS AND SERVICES LIMITED, KOLKATA

In the result, both the appeals of the assessee are allowed and both the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

147 of the Act after expiry of two years from the end of financial year in which the notice u/s 148 was issued. The ld. AR submitted that the assessee has challenged the assessment proceedings by filing the writ petition before the Hon'ble Calcutta High Court and Hon'ble High Court has passed an interim order directing the revenue

AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

144C(1) of the Act did not make any adverse comment under section 37 (1) of the Act in respect of the said transaction after examining the details of the said transaction submitted by the appellant to the Ld. TPO and subsequently to the Ld. AO as per his direction. Without prejudice to what we have stated in ground

AJIT KUMAR,BOKARO vs. ACIT, CIRCLE 2(1), IT, KOLKATA, KOLKATA

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

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

147 r.w.s. 144C(13) of the Income Tax Act, 1961 (in short the ‘Act’) by the Asst. Commissioner of Income Tax, Circle-2(1), IT, Kolkata [hereinafter referred to as ld. 'AO'] dated 14.12.2023. 1.1. The brief facts of the case of the appellant are that the assessee is a non-resident Indian filed his return of income

AMPI FINANCE LIMITED,KOLKATA vs. I.T.O., WARD-4(3), KOLKATA

Appeal of the assessee is allowed

Bench: the Bench that the re-opening of

147 notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section 2 of section 148, the prerequisite is there should be a valid notice. Admittedly, in the case on hand, the notice was held to be not sustainable. If that be so, the assessing officer cannot be stated to be empowered

AT&S INDIA PRIVATE LIMITED vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) At & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata

u/s 92B and rule 10B redundant. This is patently an unacceptable position having no sanction of the Indian transfer pricing law. Borrowing a contrary mandate of the TP provisions of other countries and reading it into our provisions is not permissible. The requirement under our law is to compute the income from an international transaction between two AEs having regard