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]

Section 92F(ii) of the Act and Rule 10B(l)(e) which deals with arm's length price & transaction net margin method. On a perusal of the same, it is very clear that net margin method refers to only net profit margin realized by an enterprise from an international transaction or a cluster of such transaction and not operating margin

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

section 144C(13)/143(3) of the Income tax Act, 1961. 8. As per the Transfer pricing (TP) document furnished

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

section 144C(13)/143(3) of the Income tax Act, 1961. 8. As per the Transfer pricing (TP) document furnished

STAR PAPER MILLS LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 4(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 424/Kol/2022 Assessment Year: 2018-19 Star Paper Mills Ltd. Dcit, Circle-4(1), Kolkata Duncan House Vs 31, N.S. Road Kolkata - 700001 [Pan : Aaecs0759B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Akkal Dudhewala, Fca Revenue By : Shri G. Hukugha Sema, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 13/04/2023 घोषणा क" तारीख /Date Of Pronouncement: 10/07/2023 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 Assistant Commissioner Of Income Tax, Circle- 4(1), Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 20/06/2022, Passed U/S 144C(13) Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19 Which Is Arising Out Of The Directions Of The Dispute Resolution Panel -2, New Delhi (Hereinafter Referred To As The ‘Ld. Drp) U/S 144C(5) Of The Act Dt. 29/04/2022. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That On The Facts & In The Circumstances Of The Case & In Law, The Ao/Tpo In Complete Disregard Of The Binding Precedent In Assessee'S Own Case For 2

13 I.T.A. No. 424/Kol/2022 Assessment Year: 2018-19 Star Paper Mills Ltd. both the parties that the Most Appropriate Method to benchmark the transfer price of power is the CUP Method. The dispute is regarding the manner of benchmarking the transfer price of power under the CUP Method. According to the TPO/Revenue, the average rate at which the power generating

AT&S INDIA PRIVATE LIMITED vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

In the result, appeal filed by the assessee, is allowed

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) At & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata

section 92C, the arm's length price in relation to an international transaction [or a specified domestic transaction] shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely :- (a) comparable uncontrolled price method, by which,- (i) The price charged or paid for property transferred or services provided in a comparable uncontrolled

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]

Section 92BA(iii) of the Act. Accordingly, such intra-unit transfer of power was reported by the transfer pricing auditor in Form 3CEB for AY 2014-15 and it was benchmarked by applying the Comparable Uncontrolled Price Method [herein after referred to as ‘CUP Method’]. For benchmarking the transfer rate of power, the non-eligible units was M/s. Kesoram Industries

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]

Section 92BA(iii) of the Act. Accordingly, such intra-unit transfer of power was reported by the transfer pricing auditor in Form 3CEB for AY 2014-15 and it was benchmarked by applying the Comparable Uncontrolled Price Method [herein after referred to as ‘CUP Method’]. For benchmarking the transfer rate of power, the non-eligible units was M/s. Kesoram Industries

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]

Section 92BA(iii) of the Act. Accordingly, such intra-unit transfer of power was reported by the transfer pricing auditor in Form 3CEB for AY 2014-15 and it was benchmarked by applying the Comparable Uncontrolled Price Method [herein after referred to as ‘CUP Method’]. For benchmarking the transfer rate of power, the non-eligible units was M/s. Kesoram Industries

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]

Section 92BA(iii) of the Act. Accordingly, such intra-unit transfer of power was reported by the transfer pricing auditor in Form 3CEB for AY 2014-15 and it was benchmarked by applying the Comparable Uncontrolled Price Method [herein after referred to as ‘CUP Method’]. For benchmarking the transfer rate of power, the non-eligible units was M/s. Kesoram Industries

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

section 92F of the Income Tax Act. He has also referred to the decision of the Hon’ble Calcutta High Court in the case of CIT vs. ITC Ltd. (2015) 64 taxman.com 2014 and therefore, has submitted that the impugned order of the CIT(A) be set aside and that of the Assessing Officer be restored. 7. On the other

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:

section 92F of the Income Tax Act. He has also referred to the decision of the Hon’ble Calcutta High Court in the case of CIT vs. ITC Ltd. (2015) 64 taxman.com 2014 and therefore, has submitted that the impugned order of the CIT(A) be set aside and that of the Assessing Officer be restored. 7. On the other

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:

section 92F of the Income Tax Act. He has also referred to the decision of the Hon’ble Calcutta High Court in the case of CIT vs. ITC Ltd. (2015) 64 taxman.com 2014 and therefore, has submitted that the impugned order of the CIT(A) be set aside and that of the Assessing Officer be restored. 7. On the other

STAR PAPER MILLS LIMITED,KOLKATA vs. DCIT, CIR. 4(2), KOLKATA

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

Bench: Shri P. M .Jagtap, Vice-(Kz) & Shri A. T. Varkey, Jm]

section 92C, the arm's length price in relation to an international transaction shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely: (a) comparable uncontrolled price method, by which,-- 8 I.T.A. No.127/Kol/2021 Assessment Year: 2016-17 Star Paper Mills Limited (i) the price charged or paid for property transferred

ORGANON (INDIA) LIMITED,MUMBAI vs. ADDL. CIT, CIRCLE - 12, KOLKATA, KOLKATA

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

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey

13 relates to the addition of Rs.1,54,04,816/- made by the Assessing Officer and confirmed by the ld. CIT(Appeals) on account of Transfer Pricing Adjustment. 16. During the year under consideration, the assessee-company had entered into certain international transactions with its Associated Enterprises involving, inter alia, purchase of raw materials from related parties and sale

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)

13 Madhu Jayanti International Ltd. A.Yr.2011-12 provide a true and fair analysis that was undertaken with fair and prudent business intent. It would be evident from the above that the assessee's analysis was based on sound transfer pricing principles and that the assessee had not undertaken the transaction to avoid taxes. To conclude, as per Section

LANDIS + GYR LIMITED,SOUTH 24 PARGANAS vs. DCIT, CIRCLE - 1, KOLKATA, KOLKATA

In the result, the appeals of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

section 234C of the Act are very clear without any ambiguity that the same is chargeable only on the returned income. Hence, the Ground No. 3 raised by the assessee is allowed. 5. Adjustment to Arm’s Length Price – ITA No. 37/Kol/2012 – Asst Year 2007-08 The assessee is a closely held company engaged in the business of manufacturing

M/S LANDIS+GYR LIMITED,,KOLKATA vs. DCIT, CIRCLE -1, KOLKATA, KOLKATA

In the result, the appeals of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

section 234C of the Act are very clear without any ambiguity that the same is chargeable only on the returned income. Hence, the Ground No. 3 raised by the assessee is allowed. 5. Adjustment to Arm’s Length Price – ITA No. 37/Kol/2012 – Asst Year 2007-08 The assessee is a closely held company engaged in the business of manufacturing

ACIT, CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. ITC INFOTECH INDIA LTD., , KOLKATA

In the result, appeals of the revenue for both the assessment years are dismissed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2014-15 & Assessment Year : 2015-16 Assistant Commissioner Of M/S. Itc Infotech India Income-Tax, Circle-2(1), Limited Vs. Kolkata. (Pan: Aaaci7376Q) Virginia House, 37, J. L. Nehru Road, Kolkata-700071. (Appellant) (Respondent) Present For: Appellant By : Shri Manish Kanojia, Cit, Dr Respondent By : Shri J. P. Khaitan, Sr. Counsel & Shri Bikash Chandra, Ar Date Of Hearing : 16.08.2022 Date Of Pronouncement : 18.10.2022

Section 1.482-5 of the Internal Revenue Service (IRC)) The Assessee has also produced a compendium of various judgments by the higher authorities which have held that the least complex entity should be the tested party (including the Kolkata jurisdiction rulings in case of Development Consultants Limited (ITA No. 1591/KOL/2010) and Landis + Gyr Limited (ITA No. 37 and 1623/Kol/2012)).While