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)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

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)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

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)

2. Respectfully following the decision of the Hon'ble ITAT, Kolkata in appellant's own case, the Ld. AO's action of adjusting the capital subsidy of Rs.14,78,39,227/- from the "actual cost" of assets under Explanation 10 to Section 43(1) is held to be unjustified in law. Accordingly the disallowance of excess claim of depreciation

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 for Multinational Enterprises and Tax Administrations, 2010 (amended since 1995), lists the following as shareholder activities: costs of activities relating to the juridical structure of the parent company itself, such as parent company shareholder meetings, issuing shares in the parent company and supervisory board costs; costs relating to reporting requirements of the parent company, including the consolidation

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 for Multinational Enterprises and Tax Administrations, 2010 (amended since 1995), lists the following as shareholder activities: costs of activities relating to the juridical structure of the parent company itself, such as parent company shareholder meetings, issuing shares in the parent company and supervisory board costs; costs relating to reporting requirements of the parent company, including the consolidation

CHANDRA BROS.,KOLKATA vs. I.T.O., WARD - 37(1), KOLKATA, KOLKATA

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

Bench: Sri Pradip Kumar Choubey & Sri Rakesh Mishra

145(2) r.w ICDS -II, Valuation of Inventory for being made on LIFO Basis, contrary to ICDS-II mandating, inter alia, Weighted Average Method, there had been an undervaluation of Closing Stock to the extent of Rs.11467010/-. In the Appeal filed against such addition, the Appellant had challenged the said addition by contending that: a) Vide the Gold Account

M/S PRICEWATERHOUSE COOPERS PVT. LTD.,KOLKATA vs. ACIT, CIRCLE-2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2011-12 M/S. Pricewaterhouse Coopers Private Limited……...............................……………………......Appellant Block-Ep, Plot –Y14 Salt Lake City Sector-V Kolkata – 700 091 [Pan : Aabcp 9181 H] Vs. Deputy Commissioner Of Income Tax (It), Circle-2(1), Kolkata……..........................…....Appellant Appearances By: Shri Kanchun Kaushal, A/R & Shri Bikash Kr. Jain, Ca, Appeared On Behalf Of The Assessee. Shri Vijay Shankar, Cit, D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 25Th, 2020 Date Of Pronouncing The Order : May 29Th, 2020 Order Per J. Sudhakar Reddy, Am :-

transfer pricing adjustment of Rs. 5,70,31,878 to the international transaction of the Appellant with its pricing adjustment of Rs. 5,70,31,878 to the international transaction of the Appellant with its pricing adjustment of Rs. 5,70,31,878 to the international transaction of the Appellant with its Associated Enterprise (‘AE') without considering the facts

RECKITT DENCKISER (INDIA) LTD.,KOLKATA vs. DCIT, CIR-12(1), KOLKATA, KOLKATA

In the result, Appeals of the assessee are partly allowed for statistical purposes whereas Appeals of the revenue are dismissed to the extent indicated above

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.404/Kol/2015 आयकरअपीलसं./Ita No.625/Kol/2016 ("नधा"रणवष" / Assessment Year: 2010-11 To 2011-12)

price over its cost incurred for brand promotion activities. Thus, the arm’s length price over its cost incurred for brand promotion activities. Thus, the arm’s length price of the international transaction pertaining to AMP expenses international transaction pertaining to AMP expenses was computed by TPO was computed

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S RECKITT BENCKISER (I) LTD., KOLKATA

In the result, Appeals of the assessee are partly allowed for statistical purposes whereas Appeals of the revenue are dismissed to the extent indicated above

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.404/Kol/2015 आयकरअपीलसं./Ita No.625/Kol/2016 ("नधा"रणवष" / Assessment Year: 2010-11 To 2011-12)

price over its cost incurred for brand promotion activities. Thus, the arm’s length price over its cost incurred for brand promotion activities. Thus, the arm’s length price of the international transaction pertaining to AMP expenses international transaction pertaining to AMP expenses was computed by TPO was computed

M/S RECKITT BENCKISER (I) PVT. LTD.,KOLKATA vs. DCIT, CIR-12(1), KOLKATA, KOLKATA

In the result, Appeals of the assessee are partly allowed for statistical purposes whereas Appeals of the revenue are dismissed to the extent indicated above

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.404/Kol/2015 आयकरअपीलसं./Ita No.625/Kol/2016 ("नधा"रणवष" / Assessment Year: 2010-11 To 2011-12)

price over its cost incurred for brand promotion activities. Thus, the arm’s length price over its cost incurred for brand promotion activities. Thus, the arm’s length price of the international transaction pertaining to AMP expenses international transaction pertaining to AMP expenses was computed by TPO was computed

DCIT, CIR-12(1), KOLKATA, KOLKATA vs. M/S RECKITT BENCKISER (INDIA) LTD., KOLKATA

In the result, Appeals of the assessee are partly allowed for statistical purposes whereas Appeals of the revenue are dismissed to the extent indicated above

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.404/Kol/2015 आयकरअपीलसं./Ita No.625/Kol/2016 ("नधा"रणवष" / Assessment Year: 2010-11 To 2011-12)

price over its cost incurred for brand promotion activities. Thus, the arm’s length price over its cost incurred for brand promotion activities. Thus, the arm’s length price of the international transaction pertaining to AMP expenses international transaction pertaining to AMP expenses was computed by TPO was computed

M/S DATA CORE (INDIA) PVT. LTD.,KOLKATA vs. ITO, WD-2(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee for the Asst Year 2010-11 is allowed, appeal of the revenue for Asst Year 2011-12 is dismissed and cross objection of the assessee for the Asst

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 387/Kol/2015 Assessment Year : 2010-11 M/S Data Core (India) Pvt. Ltd. -Vs- I.T.O., Ward-2(2), Kolkata [Pan: Aabcd 1188 Q] (Appellant) (Respondent)

transfer pricing assessments and documentation thereon. Hence the action of the ld TPO in placing reliance on AS-17 Segment Reporting in the instant case for comparison of the margins of AE and Non-AE transactions is not tenable in law and is highly unwarranted. We find that the ld TPO had considered the PLI by working

ITO, WD-2(2), KOLKATA, KOLKATA vs. M/S DATA CORE INDIA PVT. LTD., KOLKATA

In the result, the appeal of the assessee for the Asst Year 2010-11 is allowed, appeal of the revenue for Asst Year 2011-12 is dismissed and cross objection of the assessee for the Asst

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 387/Kol/2015 Assessment Year : 2010-11 M/S Data Core (India) Pvt. Ltd. -Vs- I.T.O., Ward-2(2), Kolkata [Pan: Aabcd 1188 Q] (Appellant) (Respondent)

transfer pricing assessments and documentation thereon. Hence the action of the ld TPO in placing reliance on AS-17 Segment Reporting in the instant case for comparison of the margins of AE and Non-AE transactions is not tenable in law and is highly unwarranted. We find that the ld TPO had considered the PLI by working

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

145 taxmann.com 420 (SC) have held in para 3 that in view of the statement made, we direct that the Education cess paid by the respondent-assessee would not be allowed as an expenditure under section 37 read with 40(a)(ii) of the Income-tax Act, 1961. Hence, these grounds of appeal are dismissed. 6. Ground Nos. 2

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

145 taxmann.com 420 (SC) have held in para 3 that in view of the statement made, we direct that the Education cess paid by the respondent-assessee would not be allowed as an expenditure under section 37 read with 40(a)(ii) of the Income-tax Act, 1961. Hence, these grounds of appeal are dismissed. 6. Ground Nos. 2

EIH LTD.,KOLKATA vs. THE DCIT, CIR-8(1), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

145 (Mad) wherein it was held that the ‘books’ when treated as plant , the assessee was given the benefit of depreciation and gains received by the assessee on sale of such assets, over and above the written down value thereon , would be taxed as short term capital gain. Accordingly, the ld AO denied the benefit of set off of brought

DCIT, CIR-8(1), KOLKATA, KOLKATA vs. M/S EIH LTD., KOLKATA

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

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 153/Kol/2016 Assessment Year : 2011-12 Dcit, Circle-8(1), Kolkata -Vs- M/S Eih Limited [Pan: Aaace 6898 B] (Appellant) (Respondent) I.T.A No. 110/Kol/2016 Assessment Year : 2011-12 M/S Eih Limited -Vs- Dcit, Circle-8(1), Kolkata [Pan: Aaace 6898 B] (Appellant) (Respondent) For The Appellant : Shri Kanchun Kaushal,Ar For The Department : Shri G.Mallikarjuna, Cit Dr Date Of Hearing : 26.10.2017 Date Of Pronouncement : 12.01.2018 Order Per Bench:

145 (Mad) wherein it was held that the ‘books’ when treated as plant , the assessee was given the benefit of depreciation and gains received by the assessee on sale of such assets, over and above the written down value thereon , would be taxed as short term capital gain. Accordingly, the ld AO denied the benefit of set off of brought

ACIT, CIRCLE-14(1), KOLKATA,KOLKATA vs. M/S LEXMARK INTERNATIONAL INDIA PVT. LTD., KOLKATA

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godara

2 per cent role vis-a-vis the role performed by similarly situated companies in an uncontrolled business environment. On facts, the Assessing Officer rightly termed the assessee as high end performer in the field of computer software. VI. Section 92C of the Income-tax Act, 1961, read with RULE 10B of the Income-Tax Rules, 1962 – Transfer pricing – Computation

M/S. LEXMARK INTERNATIONAL (INDIA) PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE - 14(1), KOLKATA , KOLKATA

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godara

2 per cent role vis-a-vis the role performed by similarly situated companies in an uncontrolled business environment. On facts, the Assessing Officer rightly termed the assessee as high end performer in the field of computer software. VI. Section 92C of the Income-tax Act, 1961, read with RULE 10B of the Income-Tax Rules, 1962 – Transfer pricing – Computation