DCIT, KOL. , KOLKATA vs. RUNGTA MINES LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.286/Kol/2023 Assessment Year: 2019-20 Dcit, Kolkata.................................................................................Appellant Vs. Rungta Mines Ltd.................................................……...…..…..Respondent 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata – 700017. [Pan: Aabcr6463N] Appearances By: Shri Raman Garg, Cit-Dr, Appeared On Behalf Of The Appellant. Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing :October 18, 2023 Date Of Pronouncing The Order : December 14, 2023 आदेश / Order संजय गग", "या"यकसद"य"वारा/ Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 20.01.2023 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’). 2. The Revenue In This Appeal Has Taken The Following Grounds Of Appeal: “1. That On The Facts & Circumstances Of The Case, The Ld. Cit(A) Has Erred In Not Appreciating That Arm'S Length Price & Fair Market Value Are Two Different Concepts & The Role Of The Tpo Is Limited To Determination Of Arm'S Length Price

6) and (7) shall be without prejudice to right which the consumer may have apart from the rights conferred upon him by those sub-sections. Section 49. (Agreement with respect to supply or purchase of electricity): Where the Appropriate Commission has allowed open access to certain consumers under section 42, such consumers, notwithstanding the provisions contained in clause

DCIT, CC-1(3), KOLKATA, KOLKATA vs. RUNGTA MINES LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.801&802/Kol/2023 Assessment Years: 2017-18 & 2018-19 Dcit, Cc-1(3), Kolkata …….........................................................……Appellant Vs. Rungta Mines Ltd..........................................……........……...…..…..Respondent 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata- 700017. [Pan: Aabcr6463N] Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri S. Dutta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 20, 2023 Date Of Pronouncing The Order : December 15, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders Both Dated 31.05.2023 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’) Respectively. Since, The Facts & Issues Involved In Both The Appeals Are Common & The Same Have Been Heard Together, Therefore, These Are Being Adjudicated By This Common Order. Ita No.801/Kol/2023 Is Taken As The Lead Case. 2. Ita No.801/Kol/2023 – The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

transfer price for power was considered by the assessee equal to the price at which the electricity was procured by the manufacturing undertakings from the respective SEBs. Referring to explanation section 80IA, the A.O. held that for the purposes of section 80IA, the term ‘market value’ means the price that such goods or services would ordinarily fetch in the open

DCIT CC-1(3),KOLKATA, KOLKATA vs. RUNGTA MINES LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.801&802/Kol/2023 Assessment Years: 2017-18 & 2018-19 Dcit, Cc-1(3), Kolkata …….........................................................……Appellant Vs. Rungta Mines Ltd..........................................……........……...…..…..Respondent 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata- 700017. [Pan: Aabcr6463N] Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri S. Dutta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 20, 2023 Date Of Pronouncing The Order : December 15, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders Both Dated 31.05.2023 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’) Respectively. Since, The Facts & Issues Involved In Both The Appeals Are Common & The Same Have Been Heard Together, Therefore, These Are Being Adjudicated By This Common Order. Ita No.801/Kol/2023 Is Taken As The Lead Case. 2. Ita No.801/Kol/2023 – The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

transfer price for power was considered by the assessee equal to the price at which the electricity was procured by the manufacturing undertakings from the respective SEBs. Referring to explanation section 80IA, the A.O. held that for the purposes of section 80IA, the term ‘market value’ means the price that such goods or services would ordinarily fetch in the open

ACIT, CC- 3(4), KOLKATA , KOLKATA vs. M/S. HIMATSINGKA SEIDE LIMITED , BANGALORE

In the result, appeal of the assessee in IT(SS)A No

Bench: Shri Sanjay Garg & Shri Girish Agrawalit(Ss)A No.17/Kol/2018 Assessment Year: 2008-09 Himatsingka Seide Ltd. Deputy Commissioner Of 10/24, Kumara Krupa Road, High Vs. Income Tax, Central Circle- Grounds, Bangalore-560001. Xvi, Kolkata. (Pan: Aaach3507N) (Appellant) (Respondent) & It(Ss)A No.20/Kol/2018 Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent) & Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent)

6,40,792/- in the computation of its book profit in terms of clause (f) of Explanation 1 to section 115JB of the Act on account of expenditure relatable to exempt dividend income. Whilst working out the disallowance under section 14A of the Act read with rule 8D of the Rules under the normal computation provisions, ld. CIT(A) made

D.C.I.T,CIRCLE-9(1), KOLKATA vs. M/S APOLLO GLENEAGLES HOSPITAL, KOLKATA

In the result, appeal of the Revenue for AY 2012-13 is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Ble

Transfer Pricing Guidelines further provides the following examples of shareholder activity: "7.10 The following examples (which were described in the 1984 Report) will constitute shareholder activities, under the standard set forth in paragraph 7.6: (a) Costs of activities relating to the juridical structure of the parent company itself, such as meetings of shareholders of the parent, issuing of shares

D.C.I.T,CIRCLE-9(1), KOLKATA vs. M/S APOLLO GLENEAGLES HOSPITAL, KOLKATA

In the result, appeal of the Revenue for AY 2012-13 is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Ble

Transfer Pricing Guidelines further provides the following examples of shareholder activity: "7.10 The following examples (which were described in the 1984 Report) will constitute shareholder activities, under the standard set forth in paragraph 7.6: (a) Costs of activities relating to the juridical structure of the parent company itself, such as meetings of shareholders of the parent, issuing of shares

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

6 [pages 114-115 of the said Compendium] it was held that whether a charge should be imposed for provision of a guarantee was primarily a factual enquiry. On the facts of Prolifics’ case, it was held that there was an inherent risk in providing the corporate guarantee justifying a transfer pricing adjustment. 2.14 The question relating to corporate guarantee

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

6 [pages 114-115 of the said Compendium] it was held that whether a charge should be imposed for provision of a guarantee was primarily a factual enquiry. On the facts of Prolifics’ case, it was held that there was an inherent risk in providing the corporate guarantee justifying a transfer pricing adjustment. 2.14 The question relating to corporate guarantee

M/S. LINDE INDIA LIMITED (FORMERLY BOC INDIA LIMITED),KOLKATA vs. DCIT, CIRCLE 12(1), KOLKATA, KOLKATA

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

Bench: Dr. Manish Borad & Shri Anikesh Banerjee

11 M/s. Linde India Limited 7.1. The ld. A.R. further argued that in objection filed before us by the Hon’ble DRP, the assessee challenged the following aspects of the impugned transfer pricing adjustment related to the payment of cylinder rental charges also. The action of the ld. TPO is duly rejected relating to aggregation approach adopted by the appellant

DCIT, CIR-4(1), KOLKATA, KOLKATA vs. M/S MCLEOD RUSSEL INDIA LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

11. The last transfer pricing adjustment of Rs.2,16,33,836/- is in respect of the interest charged by the appellant on the loans advanced to its AE, BTHL which was denominated in USD currency. During the relevant year the appellant had charged interest rate of 9% on the loans advanced to the AE. From the TP Study report

NORMURA RESEARCH INSTITURE FINANCIAL TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. ACIT,CIRCLE-2(2), KOL, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13

section 92 of the Act should be applicable in respect of transactions of rendering services of software development by the assessee to its AEs. The summary of international transactions reported in Transfer Pricing Study Report (TPSR) is tabulated as under: 11 Normura Research Institute Financial Technologies India Pvt. Ltd. AY 2012-13 International Method Assessee Comparables Transaction selected (Tested party

M/S. TDK INDIA PRIVATE LIMITED (FORMERLY KNOWN AS EPCOS INDIA PRIVATE LIMITED),NADIA vs. DCIT, CIRCLE - 11(1) , KOLKATA

In the result appeal of the assessee for Assessment Year 2014-15 is partly allowed for statistical purposes and appeal of the assessee for Assessment Year 2015-16, is allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

6. On the facts of the case and in law, the Ld. TPO/AO have erred in making transfer pricing adjustment to the transaction of ‘payment of sales margin’ to AEs failing to determining the arm’s length price of transaction by applying Comparable Uncontrolled Price method in an inappropriate manner. 7. On the facts of the case

M/S. TDK INDIA PRIVATE LIMITED (FORMERLY KNOWN AS EPCOS INDIA PRIVATE LIMITED),NADIA vs. DCIT, CIRCLE - 11(1) , KOLKATA

In the result appeal of the assessee for Assessment Year 2014-15 is partly allowed for statistical purposes and appeal of the assessee for Assessment Year 2015-16, is allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

6. On the facts of the case and in law, the Ld. TPO/AO have erred in making transfer pricing adjustment to the transaction of ‘payment of sales margin’ to AEs failing to determining the arm’s length price of transaction by applying Comparable Uncontrolled Price method in an inappropriate manner. 7. On the facts of the case

M/S. PHILIPS INDIA LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am M/S Philips India Limited Dcit, Circle 11(1) 3Rd Floor, Tower-A, Dlf Park, Aaykar Bhavan, P-7, 08 Block Af, Major Arterial Chowringhee Square, Road, New Town (Rajarhat), Vs. Kolkata-700069, Kolkata-700156, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcp9487A Assessee By : Shri Ketan Ved, Ar Revenue By : Shri A. Kundu, Cit Dr Date Of Hearing: 07.03.2025 Date Of Pronouncement : 11.03.2025

transfer pricing adjustment stands deleted. Consequently, ground nos. 6 the assessee’s appeal stand allowed. 023. The issue raised in ground no.7, is against the disallowance of expenses of ₹7,50,50,000/- u/s 14A of the Act in relation to earning of exempt income. 024. The facts in brief are that during the year under consideration, the appellant

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. BALRAMPUR CHINI MILLS LTD , KOLKATA

In the result all the four appeals of the revenue are dismissed

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

11(1) FMC Fortuna, 2nd Floor, Aaykar Bhavan, 6 th Floor, P-7, 234/3A, AJC Bose Road, Chowringhee Square, Vs. Minto Park, Kolkata-700020 Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) PAN No. AAACB9373Q Assessee by : Shri S.K. Tulsiyan, & Ms. Lata Goyal, Ars Revenue by : Shri Praveen Kishore, DR Date of hearing: 23.07.2025 Date of pronouncement

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. BALRAMPUR CHINI MILLS LTD , KOLKATA

In the result all the four appeals of the revenue are dismissed

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

11(1) FMC Fortuna, 2nd Floor, Aaykar Bhavan, 6 th Floor, P-7, 234/3A, AJC Bose Road, Chowringhee Square, Vs. Minto Park, Kolkata-700020 Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) PAN No. AAACB9373Q Assessee by : Shri S.K. Tulsiyan, & Ms. Lata Goyal, Ars Revenue by : Shri Praveen Kishore, DR Date of hearing: 23.07.2025 Date of pronouncement

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. BALRAMPUR CHINI MILLS LTD , KOLKATA

In the result all the four appeals of the revenue are dismissed

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

11(1) FMC Fortuna, 2nd Floor, Aaykar Bhavan, 6 th Floor, P-7, 234/3A, AJC Bose Road, Chowringhee Square, Vs. Minto Park, Kolkata-700020 Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) PAN No. AAACB9373Q Assessee by : Shri S.K. Tulsiyan, & Ms. Lata Goyal, Ars Revenue by : Shri Praveen Kishore, DR Date of hearing: 23.07.2025 Date of pronouncement

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. BALRAMPUR CHINI MILLS LTD , KOLKATA

In the result all the four appeals of the revenue are dismissed

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

11(1) FMC Fortuna, 2nd Floor, Aaykar Bhavan, 6 th Floor, P-7, 234/3A, AJC Bose Road, Chowringhee Square, Vs. Minto Park, Kolkata-700020 Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) PAN No. AAACB9373Q Assessee by : Shri S.K. Tulsiyan, & Ms. Lata Goyal, Ars Revenue by : Shri Praveen Kishore, DR Date of hearing: 23.07.2025 Date of pronouncement

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5(1), KOLKATA vs. EMAMI LIMITED, KOLKATA

In the result, the appeal of the Revenue is dismissed

11 is against the deletion of arm's\nlength price adjustment of ₹2,14,32,920/- by Id. CIT (A) as made by\nthe Id. Transfer Pricing Officer/ AO on account of eligible / non-eligible\nunits between the assessee and its Associated Enterprises.\n07. We find that the facts in brief are that the Id. Transfer Pricing Officer\nhas made