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) lays down that "'arm's length price” means a price which is applied or proposed to be applied in a transaction between persons other than associated enterprises, in uncontrolled conditions." Sec.92(v) defines “transaction” to include "an arrangement, undertaking or action in concert,- (A) whether or not such arrangement, understanding or action is formal or in writing

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]

Pricing Outcomes with Value Creation, issued in the year 2015, ‘that in some situations, the transfer or secondment of one or more employees may, depending on the facts and circumstances, result in the transfer of valuable knowhow or other intangibles from one associated enterprise to another’. Even though in the instant case, the transaction is between two unrelated enterprises

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]

Pricing Outcomes with Value Creation, issued in the year 2015, ‘that in some situations, the transfer or secondment of one or more employees may, depending on the facts and circumstances, result in the transfer of valuable knowhow or other intangibles from one associated enterprise to another’. Even though in the instant case, the transaction is between two unrelated enterprises

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

131/- by way of dividend that is exempt from taxation. In its computation of income the assessee had voluntarily offered a sum of Rs. 16,85,257/- as disallowance u/s 14A of the Act. Despite the same, the AO mechanically applied Rule 8D and computed disallowance u/s 14A at Rs. 6,18,02,973/- and added

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

131/- by way of dividend that is exempt from taxation. In its computation of income the assessee had voluntarily offered a sum of Rs. 16,85,257/- as disallowance u/s 14A of the Act. Despite the same, the AO mechanically applied Rule 8D and computed disallowance u/s 14A at Rs. 6,18,02,973/- and added

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

131/- by way of dividend that is exempt from taxation. In its computation of income the assessee had voluntarily offered a sum of Rs. 16,85,257/- as disallowance u/s 14A of the Act. Despite the same, the AO mechanically applied Rule 8D and computed disallowance u/s 14A at Rs. 6,18,02,973/- and added

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

131/- by way of dividend that is exempt from taxation. In its computation of income the assessee had voluntarily offered a sum of Rs. 16,85,257/- as disallowance u/s 14A of the Act. Despite the same, the AO mechanically applied Rule 8D and computed disallowance u/s 14A at Rs. 6,18,02,973/- and added

DCIT, CIRCLE-6(1), KOLKATA vs. M/S. IFB AGRO INDUSTRIES LTD., KOLKATA

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

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

transfer pricing adjustment made for deduction u/s 80IA of the Act raised by the Revenue are dismissed. 8. Mr. Khaitan further invited our attention in the order of Hon’ble Apex Court in the case of CIT vs. Jindal Steel & Power Ltd. (supra) the relevant paragraphs are reproduced as below: “27. Another way of looking at the issue

DCIT, CIRCLE-6(1), KOLKATA vs. M/S. IFB AGRO INDUSTRIES LTD., KOLKATA

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

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

transfer pricing adjustment made for deduction u/s 80IA of the Act raised by the Revenue are dismissed. 8. Mr. Khaitan further invited our attention in the order of Hon’ble Apex Court in the case of CIT vs. Jindal Steel & Power Ltd. (supra) the relevant paragraphs are reproduced as below: “27. Another way of looking at the issue

DCIT, CC-3(3), KOLKATA vs. M/S ANKIT METAL & POWER LTD., KOLKATA

In the result, the appeal of Revenue is dismissed

Bench: Shri P. M. Jagtap(Kz) & Shri A. T. Varkey]

131 of PB and the TPSR to demonstrate the manner in which the TPO had made the impugned transfer pricing TPO had made the impugned transfer pricing adjustment. To illustrate the same, adjustment. To illustrate the same, he first drew our attention to the chart setting out the computation of arithmetic drew our attention to the chart setting

REDTECH NETWORK INDIA PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE - 2(2), KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2013-14 Redtech Network India Private Limited.......................................................……………….…......Appellant Godrej Waterside 5Th Floor Unit-504 Sector-V Salt Lake City Kolkata – 700 091 [Pan : Aabcb 5398 J] Vs. Asstt. Commissioner Of Income Tax, Circle-2(2), Kolkata……....................………....…....Respondent Appearances By: Shri Ajit Korde, Advocate, Appeared On Behalf Of The Assessee. Dr. P.K. Srihari, Cit Sr. D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 14Th, 2019 Date Of Pronouncing The Order : November 27Th, 2019 Order Per J. Sudhakar Reddy, Am :-

transfer pricing adjustment; 3.4. Without prejudice to the above contentions, on the facts and circumstances of the case and in 3.4. Without prejudice to the above contentions, on the facts and circumstances of the case and in 3.4. Without prejudice to the above contentions, on the facts and circumstances of the case

M/S AKZO NOBEL INDIA LTD.,KOLKATA vs. DCIT, CIR-10, KOLKATA, KOLKATA

In the result appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am]

transfer pricing regulations of India. We therefore dismiss Gr.No.3 raised by the Revenue. 45. Gr.No.1 & 2 raised by the revenue reads as follows: “1.That is the facts and in law of the case the Ld. Members of the DRP erred in not considering the unallocable interest not attributable to exempt/non-exempt income comes under the purview of Rule

DCIT, CIR-10, KOLKATA, KOLKATA vs. M/S AKZO NOBEL INDIA LTD., KOLKATA

In the result appeal by the Revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am]

transfer pricing regulations of India. We therefore dismiss Gr.No.3 raised by the Revenue. 45. Gr.No.1 & 2 raised by the revenue reads as follows: “1.That is the facts and in law of the case the Ld. Members of the DRP erred in not considering the unallocable interest not attributable to exempt/non-exempt income comes under the purview of Rule

CARGO PARTNER LOGISTICS INDIA,GURGAON vs. ITO, WARD 12(2), KOLKATA, KOLKATA

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

Bench: Sri Manish Borad & Sri Sonjoy Sarma

Section 154 of the Act dated 10.12.2017. We, therefore, dismiss ground nos. 3 & 4 as not pressed. 7. Now, we take up ground nos. 5 & 6 of his appeal through which the assessee has challenged the transfer pricing adjustment confirmed by learned DRP at Rs. 2,47,69,939/-. Learned AO on the basis of DRP directions held that

VESHNAWY VYAPAAR PVT. LTD.,KOLKATA vs. ITO, WARD - 9(2), KOLKATA , KOLKATA

In the result, appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

131 of the Act to all the share subscribers. Thereafter when the jurisdiction was transferred to Ward-9(2), again notice under section 142(1) of the Act was issued on 09.01.2015, but thereafter the assessee did not comply and the assessment was completed. The above details of 12 Assessment Year : 2010-2011 Veshnawy Vyapaar Pvt. Limited the transfer

PCBL LIMITED,KOLKATA vs. A.C.I.T., CIRCLE - 11(1),, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

transfer of power at the rate at which the manufacturing unit was procuring power from the Grid. On further appeal by the Revenue, the Hon'ble Calcutta High Court after taking note of the decision of CIT Vs Jindal Steel & Power Ltd (supra) wherein their earlier decision in the case of ITC Ltd (supra) was reversed, since upheld the decision

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

transfer of power at the rate at which the manufacturing unit was procuring power from the Grid. On further appeal by the Revenue, the Hon'ble Calcutta High Court after taking note of the decision of CIT Vs Jindal Steel & Power Ltd (supra) wherein their earlier decision in the case of ITC Ltd (supra) was reversed, since upheld the decision

PRAMOD LAKRA,DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -11(1), KOLKATA, KOLKATA vs. PHILIPS CARBON BLACK LTD , KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

transfer of power at the rate at which the manufacturing unit was procuring power from the Grid. On further appeal by the Revenue, the Hon'ble Calcutta High Court after taking note of the decision of CIT Vs Jindal Steel & Power Ltd (supra) wherein their earlier decision in the case of ITC Ltd (supra) was reversed, since upheld the decision