M/S. PHILIPS INDIA LIMITED (SUCCESSOR TO ERSTWHILE PHILIPS SOFTWARE CENTRE PVT. LTD.),KOLKATA vs. D.C.I.T./A.C.I.T. (TRANSFER PRICING) - 2, KOLKATA, KOLKATA

In the result, appeal of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Blei.T.A. No. 32 & 33/Kol/2023 Assessment Year: 2004-05 M/S. Philips India Limited Joint Commissioner Of Income-Tax 3Rd Floor, Tower A Vs (Transfer Pricing-Ii), Bangalore [Presently Deputy Dlf Park, 08 Block Af Commissioner/Assistant Major Arterial Road Commissioner Of Income-Tax New Town Transfer Pricing 2, Kolkata Kolkata - 700156 [Pan : Aabcp9487A] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ketan K. Ved, A.R. Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 13/03/2024 घोषणा क" तारीख /Date Of Pronouncement: 11/06/2024 आदेश/O R D E R Per Sanjay Garg: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre (Hereinafter The “Ld. Cit(A)”), Even Dt. 15/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2004-05. 2. The Sole Issue Raised In Both The Appeals Is Relating To The Maintainability Of The Appeals Before The Ld. Cit(A) Against The Rectification Orders Passed By The Transfer Pricing Officer (In Short “Tpo”) U/S 154 R.W. Sub-Section (5) To Section 92Ca Of The Act. The Ld. Cit(A) Vide Impugned Orders Has Dismissed The Appeals Of The Assessee Holding That As Per The Provisions Of Section 246A Of The Act, Order U/S 92Ca Or Its Rectification Order U/S 154 Of The Act Passed By The Tpo Is 2

Pricing Officer (ld. TPO) dated 21/06/2007, rejecting the application of the assessee u/s 154 r.w.s. 92CA(5) of the Act dated 08/01/2007 whereas ITA No. 32/Kol/2023 pertains to the suo moto rectification order passed by the ld. TPO u/s 154 of the Act r.w.s. 92CA(5) of the Act, dated 20/12/2007 enhancing the Transfer

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

Transfer Pricing Guidelines 2010 supports this view in para 7.13 where it is explained that where higher credit rating of Associated Enterprise is due to a guarantee by another group member, such association positively enhances the profit making potential of that Associated Enterprise. We, therefore, find ourselves in agreement with the contention of the Page 27 of 41 I.T.A

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

Transfer Pricing Guidelines 2010 supports this view in para 7.13 where it is explained that where higher credit rating of Associated Enterprise is due to a guarantee by another group member, such association positively enhances the profit making potential of that Associated Enterprise. We, therefore, find ourselves in agreement with the contention of the Page 27 of 41 I.T.A

JAMSHEDPUR CONTINUOUS ANNEALING & PROCESSING COMPANY PVT. LTD.,KOLKATA vs. ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, both the appeals filed by the assessee in ITA No

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

transfer pricing regulations do not provide for mandatory deduction of depreciation and that depreciation could be provide for mandatory deduction of depreciation and that depreciation could be provide for mandatory deduction of depreciation and that depreciation could be disregarded to compute the operating margin of the tax payer and the comparables. disregarded to compute the operating margin

JAMSHEDPUR CONTINUOUS ANNEALING & PROCESSING COMPANY PRIVATE LIMITED,KOLKATA vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, both the appeals filed by the assessee in ITA No

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

transfer pricing regulations do not provide for mandatory deduction of depreciation and that depreciation could be provide for mandatory deduction of depreciation and that depreciation could be provide for mandatory deduction of depreciation and that depreciation could be disregarded to compute the operating margin of the tax payer and the comparables. disregarded to compute the operating margin

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]

rectification order u/s 154 of the Act dated 10.04.2019 (although the same is neither served upon the assessee nor is available on the IT portal). If that be so, then the assessment order u/s 144/147 of the Act dated 27.12.2017 stood merged with the order u/s 154 of the Act dated 10.04.2019. In that view of the matter the revisionary

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]

154/- as arms length price for Intra Group Services. Accordingly, the final order was passed by the AO making the said addition. 6. Now the assessee is in appeal before us challenging the said confirmation of addition by DRP. 7. After hearing the rival contentions and perusing the material available on record, we find that the assessee is a part

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

154/-\nas arms length price for Intra Group Services. Accordingly, the final order was passed\nby the AO making the said addition.\n6.\nNow the assessee is in appeal before us challenging the said confirmation of\naddition by DRP.\n7.\nAfter hearing the rival contentions and perusing the material available on\nrecord, we find that the assessee is a part

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

Transfer Pricing Officer, the total income of the assessee for the Assessment year 2014-15 is computed as under:- Profit and Gains from Rs.391,91,43,633/- Business or Profession Adjustment as per TPO-2, Rs.112,64,51,330 5 Assessment Year: 2014-2015 Zydus Healthcare Limited Kolkata’s order dated 31.10.2019 Business Income Rs.504,55,94,963/- Income from

TATA CONSUMER PRODUCTS LIMITED (SUCCESSOR OF TATA COFFEE LTD.),KOLKATA vs. A.C.I.T., CIRCLE - 4(1), KOLKATA

Appeal of the assessee is partly allowed

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Transfer Pricing Officer (Ld. TPO)/ Learned Dispute Resolution Panel ('Ld. DRP") grossly erred in making an adjustment of INR 2,00,21,945 to the income of the Appellant on account of corporate guarantee fee. 3.1 That on the facts and circumstances of the case and in law, the Ld. TPO/ Ld. DRP erred in not appreciating the fact that

WEST BENGAL HOUSING INFRASTRUCTURE DEVELOPMENT CORPORATION LTD. ,KOLKATA vs. ACIT, CIR-13(1). , KOLKATA

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

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 300/Kol/2023 Assessment Year: 2018-19 West Bengal Housing Infrastructure Assistant Commissioner Of Income Development Corporation Limited Vs Tax, Circle-13(1), Kolkata Hidco Bhaban 35-1111, Major Arterial Road 3Rd Rotary, New Town Kolkata - 700156 [Pan : Aaacw4115F] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri B.R. Dutta, Fca Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 04/10/2023 घोषणा क" तारीख /Date Of Pronouncement: 16/10/2023 आदेश/O R D E R Per Dr. Manish Borad: The Above Captioned Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, (Hereinafter The “Ld. Cit(A)”) Dt. 14/02/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Ld. Cit (Appeals) Has Erred Both In Fact & In Law In Upholding The Addition Made By The Ao Of Rs.45,31,06,825 To The Total Income Of The Appellant. 2. That The Order Dated 10 June2021 Is Bad In Law & Is Liable To Be Quashed & / Or Set Aside As The Same Proceeds On The Basis Of The Return Filed On The Basis Of Accounts Of The Appellant Under Gaap & Not On The Basis Of Accounts Converted Into Ind-As, As The Adoption Of Ind-As Became

price escalation is not done when the accounts were revised to the IndAS, and this claim is not supported with any documentary evidence. Thus, without proper evidence, the claims of the assessee cannot be accepted. As per the revised accounts as per IndAS, assessee sold 5022.19 cottah for Rs. 172,46,50,000/- i.e. still at an enhanced rate

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

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

rectification on 08.05.2013. The case of the assessee was selected for scrutiny and statutory notices were duly issued and served upon the assessee during the course of assessment proceedings. The AO observed from the details filed by the assessee that it had incurred expenses of Rs. 27.38 lacs on account of registration of patents. According to AO, registration of patents

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

rectification on 08.05.2013. The case of the assessee was selected for scrutiny and statutory notices were duly issued and served upon the assessee during the course of assessment proceedings. The AO observed from the details filed by the assessee that it had incurred expenses of Rs. 27.38 lacs on account of registration of patents. According to AO, registration of patents

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

rectification on 08.05.2013. The case of the assessee was selected for scrutiny and statutory notices were duly issued and served upon the assessee during the course of assessment proceedings. The AO observed from the details filed by the assessee that it had incurred expenses of Rs. 27.38 lacs on account of registration of patents. According to AO, registration of patents

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

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

rectification on 08.05.2013. The case of the assessee was selected for scrutiny and statutory notices were duly issued and served upon the assessee during the course of assessment proceedings. The AO observed from the details filed by the assessee that it had incurred expenses of Rs. 27.38 lacs on account of registration of patents. According to AO, registration of patents

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

prices lower than their corresponding Stamp Duty Valuations for leasehold/freehold land & building. Even if it is presumed that the assessee had entered into the deed of agreement to sell for a higher amount and executed the same for higher amount, the same would have been made good and reimbursed by the Government under the Maharashtra Package Scheme of Incentives