RECKITT BENCKISER (INDIA) PVT LTD.,KOLKATA vs. DCIT, CIRCLE-12(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmaita Nos.78/Kol/2018 Assessment Year: 2013-14 &

transfer pricing adjustment on this transaction. Further, he alleged that no method has been applied by the Ld. TPO or Ld. DRP to bench-mark these transactions. According to the Ld. Counsel, this issue was remanded back to the Ld. TPO in the assessee’s own case for AY 2010-11 and 2011-12 (supra) and submitted that this ground

RECKITT BENCKISER (INDIA) PVT LTD.,KOLKATA vs. DCIT, CIRCLE-12(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmaita Nos.78/Kol/2018 Assessment Year: 2013-14 &

transfer pricing adjustment on this transaction. Further, he alleged that no method has been applied by the Ld. TPO or Ld. DRP to bench-mark these transactions. According to the Ld. Counsel, this issue was remanded back to the Ld. TPO in the assessee’s own case for AY 2010-11 and 2011-12 (supra) and submitted that this ground

RECKITT BENCKISER (INDIA) PVT. LTD.,GURGAON vs. D.C.I.T., CIRCLE - 11(1),, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmaita Nos.78/Kol/2018 Assessment Year: 2013-14 &

transfer pricing adjustment on this transaction. Further, he alleged that no method has been applied by the Ld. TPO or Ld. DRP to bench-mark these transactions. According to the Ld. Counsel, this issue was remanded back to the Ld. TPO in the assessee’s own case for AY 2010-11 and 2011-12 (supra) and submitted that this ground

PRIMETALS TECHNOLOGIES INDIA PVT. LTD.,KOLKATA vs. ACIT, CIRCLE - 1(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2017-18

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

Pricing Officer (in short ‘ld. TPO’) u/s. 92CA(1) of the Act. The ld. TPO made certain upward and downward adjustments and further when the assessee approached the ld. DRP against the said proposed adjustment by the ld. TPO, assessee got part relief. Thereafter, the ld. Assessing Officer prepared the final assessment order making various additions/disallowance along with TP adjustments

PRIMETALS TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE-1(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2017-18

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 371 & 372/Kol/2022 Assessment Year: 2017-18 & 2018-19 Primetals Technologies India Pvt. Ltd. Acit, Circle-1(1), Kolkata 5Th Floor, Tower-C Vs Dlf, It Park-I 08 Majore Arterial Road New Town Kolkata - 700156 [Pan : Aaecv9657M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ajoy Vora, Sr. Advocate & Pooja Saraf, Ar Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 16/05/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Assessee Against The Final Assessment Orders Framed U/S 143(3) R.W.S. 144C & 144C(5) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) By The Deputy Commissioner Of Income Tax, Circle – 1(1), Kolkata (Hereinafter The “Ld. Ao”) Even Dt. 29/04/2022, Passed In Pursuance Of The Directions Of The Ld. Dispute Resolution Panel -2, New Delhi, Dt. 18/02/2022 For Assessment Year 2017-18 & Dt. 04/03/2022 For Assessment Year 2018-19, Passed U/S 144C(5) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2017-18:- “Ground 1:

Pricing Officer (in short ‘ld. TPO’) u/s. 92CA(1) of the Act. The ld. TPO made certain upward and downward adjustments and further when the assessee approached the ld. DRP against the said proposed adjustment by the ld. TPO, assessee got part relief. Thereafter, the ld. Assessing Officer prepared the final assessment order making various additions/disallowance along with TP adjustments

RECKITT BENCKISER INDIA PRIVATE LIMITED,GURGAON, HARYANA vs. D.C.I.T., CIRCLE 11.1, KOLKATA, KOLKATA

section 80IC, inasmuch\nas such gains or profits' are derived from the industrial undertaking and includible in, the gross total\nincome of the assessee and the question relatable to the profit on the sale of scrap is thus answered in\nfavour of the assessee\"\nWe are persuaded by the reasoning of the said Court and answer the question accordingly

RECKITT BENCKISER (INDIA) PRIVATE LIMITED ,KOLKATA vs. DCIT, CIRCLE-12(1), KOLKATA

section 80IC, inasmuch\nas such gains or profits' are derived from the industrial undertaking and includible in, the gross total\nincome of the assessee and the question relatable to the profit on the sale of scrap is thus answered in\nfavour of the assessee\"\nWe are persuaded by the reasoning of the said Court and answer the question accordingly

EREVMAX TECHNOLOGIES PVT. LTD.,KOLKATA vs. D.C.I.T./A.C.I.T., TP-1, , KOLKATA

Appeal of the assessee is partly allowed for statistical purposes

Bench: Us In The Paper Book)

Transfer Pricing Order, and the consequent determination of ALP amount of Rs.17678365/- being 16.85% of the Turnover of the Appellant of Rs. 105274894/-, had been proper and thus, deserved endorsement and confirmation. The Appellant had furnished respected replies to both the TPO and the DRP, by means of separate submissions. A kind perusal of the said respective replies would highlight

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

ACIT, CIRCLE - 7(1) , KOLKATA vs. M/S. BRITANNIA INDUSTRIES LTD., , KOLKATA

In the result, appeal of the revenue in ITA No

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Ble

pricing I.T.A. No. 2644/Kol/2018 Assessment Year: 2014-15 C.O. No. 09/Kol/2020 Assessment Year: 2014-15 M/s. Britannia Industries 11 analyses where determination of appropriate discount rates is important. Instead the specific conditions and risks associated with the facts of a given case and the particular cash flows in question should be evaluated in determining the appropriate discount rate

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

111 taxman.com 180 (Mad HC) {following the\ndecision of CIT vs. Ramchandra Rao 56 taxman.com 163 (Karnataka HC).\n\"14. In my considered view, the contention of the Revenue to deny the benefit\nof deduction to the petitioner/assessee cannot be justified for the following\nreasons: Section 54(2) cannot be read in isolation and on the other hand,\napplication

ANIL KUMAR PAIK ,KOLKATA vs. ACIT, CIR-8(1), KOL, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 01/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/02/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Ld. Commissioner, Of Income Tax (Appeals)- N.F.A.C. Acted Unlawfully In Impliedly Sustaining; The Purported Addition Of Rs. 1,67.44,907/- Made The Ld. Assistant Commissioner, Of Income Tax, Circle 8(1) Kolkata By Invoking The Mischief U/S. 43Ca Of The Income Tax Act, 1961 Without Satisfying The Parameters Thereof & The Adverse Conclusion Reached On That Behalf In Violation Of The Statutory Prescription Is Completely Unfounded, Unjustified & Untenable In Law. 2. For That The Specious Approach Of The Ld. Commissioner Of Income Tax (Appeals)-N.F.A,C. Of Misreading Evidence, Considering Improper Facts

111 taxmann.com 94 (Bombay) 10 I.T.A. No. 492/Kol/2023 Assessment Year: 2017-18 Anil Kumar Paik dated 09/09/2019}. The Hon'ble Court declined to admit the question of law as raised by the revenue with following observations: - Re. Question (b) 12. The Respondent- Assessee is a Developer. He is in the business of real estate development. The flats sold

ANIL KUMAR PAIK,KOLKATA vs. ACIT, KOLKATA

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

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 468/Kol/2023 Assessment Year: 2016-17 Anil Kumar Paik Acit, Circle-8(1), Kolkata C/O S.N. Ghosh & Associates, Advocates Vs 2, Garstin Place, 2Nd Floor Suite No. 203 Off Hare Street Kolkata - 700001 [Pan : Aflpp6567R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Somnath Ghosh, Advocate Revenue By : Shri P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 21/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 29/11/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 15/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2016-17. 2. The Assessee Has Raised The Following Grounds Of Appeal:-

111 taxmann.com 94 (Bombay) dated 09/09/2019}. The I.T.A. No. 468/Kol/2023 Assessment Year: 2016-17 Anil Kumar Paik Hon'ble Court declined to admit the question of law as raised by the revenue with following observations: - Re. Question (b) 12. The Respondent- Assessee is a Developer. He is in the business of real estate development. The flats sold by the Respondent

PINKY AGARWAL ,KOLKATA vs. ACIT, CC-3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

price chart of Blue Circle Services Ltd., wherein there is a steep upward trend from 2011-12 onwards then a downward trend which goes up to the end of 2013 and again there is an increase in trend during 2013-14 but not to that extent of the past trend of steep increase. The claim of the assessee is that

M/S. GATEWAY FINANCIAL SERVICES LTD., ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

price chart of Blue Circle Services Ltd., wherein there is a steep upward trend from 2011-12 onwards then a downward trend which goes up to the end of 2013 and again there is an increase in trend during 2013-14 but not to that extent of the past trend of steep increase. The claim of the assessee is that

M/S. NISHIT AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

price chart of Blue Circle Services Ltd., wherein there is a steep upward trend from 2011-12 onwards then a downward trend which goes up to the end of 2013 and again there is an increase in trend during 2013-14 but not to that extent of the past trend of steep increase. The claim of the assessee is that

PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

price chart of Blue Circle Services Ltd., wherein there is a steep upward trend from 2011-12 onwards then a downward trend which goes up to the end of 2013 and again there is an increase in trend during 2013-14 but not to that extent of the past trend of steep increase. The claim of the assessee is that

ITO,WARD-8(2),KOL, KOLKATA vs. M/S. INDUS REALTY PVT. LTD. , KOLKATA.

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

price is justified or not, it is for the businesses to take a call. Moreover, all the share applicants are group companies and hence situations may arise where funds are transferred from one to another depending upon their consolidated business strategy and outlook. In any case, while suspicion may arise that the transaction smacks of unaccounted money being circulated