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)

13. Accordingly, transfer pricing adjustment made by the AO in the impugned assessment u/s. 153A read with section 143(3) are not in compliance with the provisions contained in section 92CA of the Act read with aforesaid CBDT In- struction. Thus, ground no. 4 taken by the assessee in this respect is allowed and ground nos. 1

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

1) For the purposes of sub-section (2) of 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,-- (i) the price charged or paid for property transferred or services provided

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

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 (TPO) to determine the arm's length price of international transactions undertaken by the assessee. The TPO vide order passed under section 92CA(3) of the Act dated 24.01.2014 applied CUP method and determined the arm's length price of international transactions of payment of service fees at Nil as against Rs.3,45,55,434/- determined

EXIMCORP INDIA (P) LTD. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

transferred to the buyer. The seller gets a right to get the price of the goods and the buyer has a corresponding obligation to pay it, both as per the contract of sale and under the law. Therefore, debt is incurred by the buyer of the purchase-price which he is obliged to pay. The debt arises from the unwillingness

EXIMCORP INDIA PRIVATE LIMITED. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

transferred to the buyer. The seller gets a right to get the price of the goods and the buyer has a corresponding obligation to pay it, both as per the contract of sale and under the law. Therefore, debt is incurred by the buyer of the purchase-price which he is obliged to pay. The debt arises from the unwillingness

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

DCIT, CIR. 5(1), KOLKATA vs. KARAM CHAND THAPAR & BROS COAL SALES LTD., KOLKATA

In the result, appeal of the Revenue for AY 2015-16 is partly allowed and appeal for AY 2016-17 is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. Nos. 320 & 321/Kol/2021 Assessment Years: 2015-16 & 2016-17 Deputy Commissioner Of Income Tax,........Appellant Circle-5(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Karam Chand Thapar & Bros. Coal Sales Limited,........................Respondent 25, Brabourne Road, Kolkata-700001 [Pan;Aabck1281H] Appearances By: Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Shri N.S. Saini, A.R., Appeared On Behalf Of The Assessee Date Of Concluding The Hearing : January 02, 2023 Date Of Pronouncing The Order : February 28, 2023 O R D E R

Transfer Pricing Adjustment on account of fees / commission for Corporate Guarantee given by the assessee on behalf of its Associated Enterprise (in short ‘AE’), and the second relating to disallowance towards deposit of employee PF & ESI contribution claimed under section 36(1)(va) of the Act since payment was made beyond the due date of filing the return

DCIT, CIR. 5(1), KOLKATA vs. KARAM CHAND THAPAR & BROS COAL SALES LTD., KOLKATA

In the result, appeal of the Revenue for AY 2015-16 is partly allowed and appeal for AY 2016-17 is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. Nos. 320 & 321/Kol/2021 Assessment Years: 2015-16 & 2016-17 Deputy Commissioner Of Income Tax,........Appellant Circle-5(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Karam Chand Thapar & Bros. Coal Sales Limited,........................Respondent 25, Brabourne Road, Kolkata-700001 [Pan;Aabck1281H] Appearances By: Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Shri N.S. Saini, A.R., Appeared On Behalf Of The Assessee Date Of Concluding The Hearing : January 02, 2023 Date Of Pronouncing The Order : February 28, 2023 O R D E R

Transfer Pricing Adjustment on account of fees / commission for Corporate Guarantee given by the assessee on behalf of its Associated Enterprise (in short ‘AE’), and the second relating to disallowance towards deposit of employee PF & ESI contribution claimed under section 36(1)(va) of the Act since payment was made beyond the due date of filing the return

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 analysis to determine ALP, by applying one of the five methods prescribed by law u/s 92C1) and not to determine AY 2012-13 AY 2013-14 Apollo Gleneagles Hospital Ltd. 11 whether the service or benefit has been availed by the assessee. I observe that the Ld. TPO has exceeded his jurisdiction by disallowing the entire management fee/brand

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 analysis to determine ALP, by applying one of the five methods prescribed by law u/s 92C1) and not to determine AY 2012-13 AY 2013-14 Apollo Gleneagles Hospital Ltd. 11 whether the service or benefit has been availed by the assessee. I observe that the Ld. TPO has exceeded his jurisdiction by disallowing the entire management fee/brand

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

Transfer Pricing\nOfficer, Kolkata (\"TPO\") u/s 92CA(1) of the Act. The Ld. TPO computed\nthe Arm's Length Price and passed an Order u/s 92CA(3) of the Act on\nJanuary 25, 2016. On receipt of the Ld. TPO's order, the Draft\nAssessment Order was passed on 10.03.2016 and was sent to the\nassessee. Vide letter dated 22nd

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S BIRLA CORPORATION LTD., KOLKATA

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

1 to 5 of the appeal would reveal that the sole issue raised by the revenue through these grounds is relating to the action of the CIT(A) in deleting the addition of Rs.124,76,75,528/- made by the Assessing Officer on account of transfer pricing adjustment in respect of the price of the power transferred by the section

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

Transfer Pricing\nOfficer, Kolkata (\"TPO\") u/s 92CA(1) of the Act. The Ld. TPO computed\nthe Arm's Length Price and passed an Order u/s 92CA(3) of the Act on\nJanuary 25, 2016. On receipt of the Ld. TPO's order, the Draft\nAssessment Order was passed on 10.03.2016 and was sent to the\nassessee. Vide letter dated 22nd

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

Transfer Pricing\nOfficer, Kolkata (\"TPO\") u/s 92CA(1) of the Act. The Ld. TPO computed\nthe Arm's Length Price and passed an Order u/s 92CA(3) of the Act on\nJanuary 25, 2016. On receipt of the Ld. TPO's order, the Draft\nAssessment Order was passed on 10.03.2016 and was sent to the\nassessee. Vide letter dated 22nd

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

Transfer Pricing\nOfficer, Kolkata (\"TPO\") u/s 92CA(1) of the Act. The Ld. TPO computed\nthe Arm's Length Price and passed an Order u/s 92CA(3) of the Act on\nJanuary 25, 2016. On receipt of the Ld. TPO's order, the Draft\nAssessment Order was passed on 10.03.2016 and was sent to the\nassessee. Vide letter dated 22nd

BIRLA CORPORATION LIMITED,KOLKATA vs. DCIT CIR.-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 80IA of the Act, the assessee was show-caused as to why the same price computed by the assessee not been rejected as it cannot supply power at that rate in open market being a manufacturer and not a distributor. Ld. AO referred the matter to Transfer Pricing Officer who carried out the proceedings and came to a conclusion