DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. EVEREADY INDUSTRIES INDIA LTD., KOLKATA
In the result, all the captioned appeals of the Revenue stand dismissed
ITA 1880/KOL/2018[2011-12]Status: DisposedITAT Kolkata30 Mar 2023AY 2011-12
Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.1880,1881&1882/Kol/2018 Assessment Years: 2011-12,2012-13 & 2013-14 Dcit, Circle-11(1), Kolkata.........................….................……...…..…Appellant Vs. M/S Eveready Industries India Ltd.........................................…..…..Respondent 2, Rainey Park, Kolkata-700019. [Pan: Aaace5778N] Appearances By: Shri Akkal Dudhewala, Ar, Appeared On Behalf Of The Appellant. Shri P.P. Barman, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : February 09, 2023 Date Of Pronouncing The Order : March 30, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Revenue Against The Separate Orders All Dated 22.06.2018 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As The ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, Common Issues Are Involved In All The Appeals, Hence These Have Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.1880/Kol/2018 For Assessment Year 2011-12 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita No.1880/Kol/2018 – The Revenue In This Appeal Has Taken The Following Grounds Of Appeal:
Section 250Section 40Section 40A(9)Section 92C
transfer pricing adjustment and application of CUP method undertaken by the assessee for benchmarking the interest rate on loan advanced to associate enterprises. Further the assessee had explained that it was not a mere loan transaction, rather, it was on pure business consideration.
The loan was advanced by the assessee to its wholly owned subsidiary for strategic acquisition abroad with
