MADHU JAYANTI INTERNATIONAL LIMITED,KOLKATA vs. DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)

section 92C, which would warrant your goodself to disregard the analysis undertaken by the assessee and undertake a fresh analysis.) 3.7.6. The assessee pointed out the error in computation of PLI by the ld TPO as under :- 2· Error in computation of PLI of the assessee (Refer Point No. 5 of the notice) Reference point

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. DIC INDIA LTD., KOLKATA

In the result, both appeals of Revenue stand dismissed

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

2 to section 92C which states that where two different ALPs are worked out by using two different methods then the TPO was required to work out the arithmetical mean of such prices. Similarly the assessee submitted for imported goods that the TNMM method was used to determine the ALP in the AY 2003-04 and the allegation

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. D I C INDIA LTD., KOLKATA

In the result, both appeals of Revenue stand dismissed

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

2 to section 92C which states that where two different ALPs are worked out by using two different methods then the TPO was required to work out the arithmetical mean of such prices. Similarly the assessee submitted for imported goods that the TNMM method was used to determine the ALP in the AY 2003-04 and the allegation

NLC NALCO INDIA LTD.,KOLKATA vs. ACIT, CIRCLE - 11, KOLKATA, KOLKATA

In the result, the appeal of assessee in ITA No

Bench: Shri Mahavir Singh, Jm& Shri Waseem Ahmed, Am]

68,90,427/- was written off through provision account and an amount of Rs.36,34,283/- was directly written off in the Profit and Loss Account for the relevant previous year relevant to this assessment year. It is a fact that assessee is engaged in the manufacture of various types of chemicals which are used inter alia in steel, paper

N L C NALCO INDIA LTD PREVIOUSLY KNOWN AS ONDEO NALCO INDIA LTD.,KOLKATA vs. ACIT, CIR - 11, KOLKATA, KOLKATA

In the result, the appeal of assessee in ITA No

Bench: Shri Mahavir Singh, Jm& Shri Waseem Ahmed, Am]

68,90,427/- was written off through provision account and an amount of Rs.36,34,283/- was directly written off in the Profit and Loss Account for the relevant previous year relevant to this assessment year. It is a fact that assessee is engaged in the manufacture of various types of chemicals which are used inter alia in steel, paper

M/S TDK INDIA LIMITED (FORMERLY KNOWN AS EPCOS INDIA PVT. LTD.),KOLKATA vs. DCIT, CIR. -11(1), KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

92C of the Act read with rule 10B of the Rules. Accordingly, we feel that TPO made proper enquiry and applied his mind to the details brought on record by assessee. He had agreed with the assessee that the international transactions covered by the TNMM analysis (including the intra-group service charge paid /payable to Nalco Pacific) adhered

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

68 Companies with positive net worth were selected 60 Export Sales Total Sales >50o% was selected 15 Companies after qualitative analysis 7 Final Comparables OP/TC Grabal Alok Impex Ltd. [Merged] 37.07% Hanung Toys &Textiles Ltd. 20.45% Jaipuria Silk Mills Pvt. Ltd. 28.23% Kariwala Industries Ltd. 26.65% Sharadha Terry Products Ltd. 37.01% Silktex Ltd. 13.65% Welspum India Ltd. 13.55% Average

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

68 Companies with positive net worth were selected 60 Export Sales Total Sales >50o% was selected 15 Companies after qualitative analysis 7 Final Comparables OP/TC Grabal Alok Impex Ltd. [Merged] 37.07% Hanung Toys &Textiles Ltd. 20.45% Jaipuria Silk Mills Pvt. Ltd. 28.23% Kariwala Industries Ltd. 26.65% Sharadha Terry Products Ltd. 37.01% Silktex Ltd. 13.65% Welspum India Ltd. 13.55% Average

ACIT, CIRCLE-11(2), KOLKATA, KOLKATA vs. M/S. TCG LIFESCIENCES LIMITED., KOLKATA

In the result, appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri J.Sudhakar Reddy, Am] I.T.A No. 1053/Kol/2017 Assessment Year : 2010-11 A.C.I.T., Circle-11(2) -Vs.- M/S. Tcg Lifesciences Ltd. Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) I.T.A No. 966/Kol/2017 Assessment Year : 2010-11 M/S. Tcg Lifesciences Pvt.Ltd. -Vs- C.I.T.(A)-22, (Formerly “Tcg Lifesciences Ltd.) Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri S.P.Singh, Irs (Rtd.) & Shri Manoneet Dalal & Ms.Gunjan Khanna, Cas Date Of Hearing : 14.09.2017. Date Of Pronouncement : 22.09.2017. Order Per N.V.Vasudevan, Jm

92C(3) is beyond this margin. Accordingly, an upward adjustment of rs.11,78,64,440/- is being made to the arm’s M/s. TCG LIfesciences Ltd. A.Yr.2010-11 length price of the loan. The total income of the assessee is to be upwardly adjusted by this amount. “ 10. Before the CIT(A), apart from the challenge to the merits

M/S TCG LIFESCIENCES PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE-11, KOLKATA, KOLKATA

In the result, appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri J.Sudhakar Reddy, Am] I.T.A No. 1053/Kol/2017 Assessment Year : 2010-11 A.C.I.T., Circle-11(2) -Vs.- M/S. Tcg Lifesciences Ltd. Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) I.T.A No. 966/Kol/2017 Assessment Year : 2010-11 M/S. Tcg Lifesciences Pvt.Ltd. -Vs- C.I.T.(A)-22, (Formerly “Tcg Lifesciences Ltd.) Kolkata Kolkata [Pan : Aabcc 0401 D] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri S.P.Singh, Irs (Rtd.) & Shri Manoneet Dalal & Ms.Gunjan Khanna, Cas Date Of Hearing : 14.09.2017. Date Of Pronouncement : 22.09.2017. Order Per N.V.Vasudevan, Jm

92C(3) is beyond this margin. Accordingly, an upward adjustment of rs.11,78,64,440/- is being made to the arm’s M/s. TCG LIfesciences Ltd. A.Yr.2010-11 length price of the loan. The total income of the assessee is to be upwardly adjusted by this amount. “ 10. Before the CIT(A), apart from the challenge to the merits

DCIT, CIRCLE-5(1), , KOLKATA vs. KESORAM INDUSTRIES LIMITED, KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

2 3.75 242,42,868 6.23 6,01,22,313 57,58,953 5.80 1,18,05,854 Vasavdatta TPP 3 3.75 580,49,350 6.09 13,58,35,479 57,43,246 5.80 1,17,73,654 Vasavdatta TPP 4 3.75 791,29,777 5.96 17,48,76,807 Hooghly

M/S. KESORAM INDUSTRIES LTD., ,KOLKATA vs. DCIT, CIRCLE - 5(1) , KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

2 3.75 242,42,868 6.23 6,01,22,313 57,58,953 5.80 1,18,05,854 Vasavdatta TPP 3 3.75 580,49,350 6.09 13,58,35,479 57,43,246 5.80 1,17,73,654 Vasavdatta TPP 4 3.75 791,29,777 5.96 17,48,76,807 Hooghly

DCIT, CIRCLE - 5(1) , KOLKATA vs. M/S. KESORAM INDUSTRIES LTD., , KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

2 3.75 242,42,868 6.23 6,01,22,313 57,58,953 5.80 1,18,05,854 Vasavdatta TPP 3 3.75 580,49,350 6.09 13,58,35,479 57,43,246 5.80 1,17,73,654 Vasavdatta TPP 4 3.75 791,29,777 5.96 17,48,76,807 Hooghly

KESORAM INDUSTRIES LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-5(1), KOLKATA

In the result, all the appeals of the revenue for AYs 2012-13, 2014-

Bench: Hon’Ble Shri P. M. Jagtap, Vp (Kz) & Hon’Ble Shri A. T. Varkey]

2 3.75 242,42,868 6.23 6,01,22,313 57,58,953 5.80 1,18,05,854 Vasavdatta TPP 3 3.75 580,49,350 6.09 13,58,35,479 57,43,246 5.80 1,17,73,654 Vasavdatta TPP 4 3.75 791,29,777 5.96 17,48,76,807 Hooghly

ZYDUS HEALTHCARE LTD,GANGTOK vs. ACIT, CIR. 3(2), GANGTOK

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 139/Kol/2021 Assessment Year: 2014-2015 Zydus Healhcare Limited,……..................Appellant (Successor To Zydus Healthcare Sikkim), 4Th Floor, ‘D’ Wing, Zudus Corporate Park, Scheme No. 63, Survey No. 536, Khoraj (Gandhinagar), Nr. Vaishnodevi Circle, Ahmedabad, Gandhinagar, Gujrat-382481 [Pan: Aaacg1895Q] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-3(2), Gangtok, Sikkim-737101 Appearances By: Shri Ajit Kumar Jain, Ca & Sonal Pandey, A.R., Appeared On Behalf Of The Assessee Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : January 18, 2023 Date Of Pronouncing The Order : February 20, 2023 O R D E R

68,350/-. The ld. Assessing Officer has accepted the returned income by way of an assessment order under section 143(3) of the Income Tax Act passed on 18.08.2016. The ld. Principal Commissioner, Siliguri took cognizance of revisionary powers under section 263 of the Income Tax Act and set aside the assessment order vide his order dated

M/S TDK INDIA PVT. LTD.(FORMERLY KNOWN AS M/S EPCOS INDIA PVT. LTD.),KOLKATA vs. DCIT, CIR. 11(1), KOLKATA

In the result, both the appeal of the assessee are partly allowed for statistical\npurposes

92C of the Act\nread with rule 10B of the Rules. Accordingly, we feel that TPO made proper enquiry and\napplied his mind to the details brought on record by assessee. He had agreed with the\nassessee that the international transactions covered by the TNMM analysis (including the\nintra-group service charge paid /payable to Nalco Pacific) adhered

AT & S INDIA PVT. LTD.,KARNATAKA vs. DCIT, CIR-11(1), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2011-12

68,97,22,939/- 7. Aggrieved assessee preferred an appeal to DRP. The assessee before the DRP reiterated the submission made before the TPO. The assessee submitted that the AE being distributor is less complex entity in terms of FAR analysis ('Function-Asset- Risk'). Therefore the AE was selected as the 'tested party' and accordingly margin earned by AE (segmental

M/S. TCG LIFESCIENCES PRIVATE LIMITED.,KOLKATA vs. ACIT, CIRCLE-11(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

68,889/-. He accordingly worked out the total Transfer Pricing Adjustment to be made in the assessee’s case at Rs.8,95,57,833/-. In the Draft Assessment Order dated 26.12.2016 addition to that extent was made by the Assessing Officer to the total income of the assessee. The Assessing Officer also made further 2