M/S. PHILIPS INDIA LIMITED (SUCCESSOR TO ERSTWHILE PHILIPS SOFTWARE CENTRE PVT. LTD.),KOLKATA vs. D.C.I.T./A.C.I.T. (TRANSFER PRICING) - 2, KOLKATA, KOLKATA

In the result, appeal of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Blei.T.A. No. 32 & 33/Kol/2023 Assessment Year: 2004-05 M/S. Philips India Limited Joint Commissioner Of Income-Tax 3Rd Floor, Tower A Vs (Transfer Pricing-Ii), Bangalore [Presently Deputy Dlf Park, 08 Block Af Commissioner/Assistant Major Arterial Road Commissioner Of Income-Tax New Town Transfer Pricing 2, Kolkata Kolkata - 700156 [Pan : Aabcp9487A] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ketan K. Ved, A.R. Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 13/03/2024 घोषणा क" तारीख /Date Of Pronouncement: 11/06/2024 आदेश/O R D E R Per Sanjay Garg: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre (Hereinafter The “Ld. Cit(A)”), Even Dt. 15/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2004-05. 2. The Sole Issue Raised In Both The Appeals Is Relating To The Maintainability Of The Appeals Before The Ld. Cit(A) Against The Rectification Orders Passed By The Transfer Pricing Officer (In Short “Tpo”) U/S 154 R.W. Sub-Section (5) To Section 92Ca Of The Act. The Ld. Cit(A) Vide Impugned Orders Has Dismissed The Appeals Of The Assessee Holding That As Per The Provisions Of Section 246A Of The Act, Order U/S 92Ca Or Its Rectification Order U/S 154 Of The Act Passed By The Tpo Is 2

Transfer Pricing Officer.” 5.2. A perusal of the sub-Section (5) of Section 92CA would reveal that a TPO may amend the order passed u/s 92CA(3) of the Act for the purpose of rectification of any mistake apparent from record in such order and the provisions of Section 154 will accordingly apply. Sub- Section (5), therefore, specifically provides that

M/S. PHILIPS INDIA LIMITED (SUCCESSOR TO ERSTWHILE PHILIPS SOFTWARE CENTRE PVT. LTD.),KOLKATA vs. D.C.I.T./A.C.I.T.(TRANSFER PRICING) - 2, KOLKATA, KOLKATA

In the result, appeal of the assessee in ITA No

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Blei.T.A. No. 32 & 33/Kol/2023 Assessment Year: 2004-05 M/S. Philips India Limited Joint Commissioner Of Income-Tax 3Rd Floor, Tower A Vs (Transfer Pricing-Ii), Bangalore [Presently Deputy Dlf Park, 08 Block Af Commissioner/Assistant Major Arterial Road Commissioner Of Income-Tax New Town Transfer Pricing 2, Kolkata Kolkata - 700156 [Pan : Aabcp9487A] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ketan K. Ved, A.R. Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 13/03/2024 घोषणा क" तारीख /Date Of Pronouncement: 11/06/2024 आदेश/O R D E R Per Sanjay Garg: The Present Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre (Hereinafter The “Ld. Cit(A)”), Even Dt. 15/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2004-05. 2. The Sole Issue Raised In Both The Appeals Is Relating To The Maintainability Of The Appeals Before The Ld. Cit(A) Against The Rectification Orders Passed By The Transfer Pricing Officer (In Short “Tpo”) U/S 154 R.W. Sub-Section (5) To Section 92Ca Of The Act. The Ld. Cit(A) Vide Impugned Orders Has Dismissed The Appeals Of The Assessee Holding That As Per The Provisions Of Section 246A Of The Act, Order U/S 92Ca Or Its Rectification Order U/S 154 Of The Act Passed By The Tpo Is 2

Transfer Pricing Officer.” 5.2. A perusal of the sub-Section (5) of Section 92CA would reveal that a TPO may amend the order passed u/s 92CA(3) of the Act for the purpose of rectification of any mistake apparent from record in such order and the provisions of Section 154 will accordingly apply. Sub- Section (5), therefore, specifically provides that

M/S PHILLIPS INDIA LIMITED,KOLKATA vs. ACIT, CIR-12(2), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 612/Kol/2017 Assessment Year : 2012-13 M/S Philips India Ltd. -Vs- Acit, Circle-12(2), Kolkata (Formerly Philips Electronics India Ltd.) [Pan: Aabcp 9487 A] (Appellant) (Respondent)

155/- Health Care Contract Manufacturing - Rs 34,20,000/- 3.1. The assessee submitted before the ld TPO that some of the transactions pertain to services which are commonly described in international tax and transfer pricing context as ‘intra-group services’ (in short IGS). The assessee benchmarked the Intra Group Services transactions by using the Transactional Net Margin Method (TNMM

M/S PCM STRESCON OVERSEAS VENTURE LTD.,SILIGURI vs. PCIT-1, , KOLKATA

In the result, both appeal preferred by the revenue (ITA No

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

Transfer Pricing Officer is extended to sixty days in accordance with the proviso to sub-section (3A) of section 92CA and the period of limitation available to the Assessing Officer for making an order of assessment, reassessment or recomputation, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days

I.T.O.,WARD-1(1), KOLKATA vs. M/S PCM STRESCON OVERSEAS VENTURE LTD., KOLKATA

In the result, both appeal preferred by the revenue (ITA No

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

Transfer Pricing Officer is extended to sixty days in accordance with the proviso to sub-section (3A) of section 92CA and the period of limitation available to the Assessing Officer for making an order of assessment, reassessment or recomputation, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days

M/S. PHILIPS INDIA LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am M/S Philips India Limited Dcit, Circle 11(1) 3Rd Floor, Tower-A, Dlf Park, Aaykar Bhavan, P-7, 08 Block Af, Major Arterial Chowringhee Square, Road, New Town (Rajarhat), Vs. Kolkata-700069, Kolkata-700156, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcp9487A Assessee By : Shri Ketan Ved, Ar Revenue By : Shri A. Kundu, Cit Dr Date Of Hearing: 07.03.2025 Date Of Pronouncement : 11.03.2025

transfer pricing adjustment stands deleted. Consequently, ground nos. 6 the assessee’s appeal stand allowed. 023. The issue raised in ground no.7, is against the disallowance of expenses of ₹7,50,50,000/- u/s 14A of the Act in relation to earning of exempt income. 024. The facts in brief are that during the year under consideration, the appellant

M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

Price adjustment on account of corporate guarantee fee and grant consequential relief to the assessee. Hence Ground Nos. 2 and 3 of the appeal are partly allowed. 7. Ground no. 4 relates to non-grant of deduction of Rs. 52,91,000/- u/s 80G of the Act. The Ld. AO did not allow the deduction holding as under

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

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.67/Kol/2015 ("नधा"रण वष" / Assessment Year: 2008-09) Dcit, Circle-2(1), Kolkata Vs. M/S. Itc Infotech India Ltd. 37, J.L Nehru Road, Kolkata – 700071. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaci7376Q (Appellant/Revenue) .. (Assessee ) & आयकर अपीलसं./I.T.A No.485/Kol/2019 ("नधा"रण वष" / Assessment Year: 2008-09) M/S. Itc Infotech India Ltd. Vs. Dcit, Circle-2(1), Kolkata 37, J.L Nehru Road, Kolkata – 700071. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaci7376Q (Assessee ) .. (Revenue) Appellant/Revenue By : Dr. P. K. Srihari, Cit(Dr) Assessee By : Shri J. P Khaitan, Sr. Adv. & Bikash Chanda, Fca सुनवाईक"तार"ख/ Date Of Hearing : 06/08/2019 घोषणाक"तार"ख/Date Of Pronouncement : 23/10/2019 आदेश / O R D E R Per Shri S. S. Godara: These Revenue’S & Assessee’S Cross Appeal For Assessment Year 2008-09 Arise Against The Commissioner Of Income Tax (A) - Vi, Kolkata Dated 24.10.2014 Passed In Case No.Tp-07/Cit(A)-Vi/R-2/2012-13/Kol Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. We Come To The Revenue’S Appeal Ita No.67/Kol/2015. Its First Substantive Ground Pleads That The Cit(A) Has Erred In Law & On Facts In Reversing The

Transfer Pricing Officer had rightly excluded the loss making comparable entities. We see no reason to express our concurrence with the Revenue’s instant grievance. It emerges that the assessee has succeeded from the very issue of inclusion of loss making entities in preceding as well as succeeding assessment years. We find that this Revenue has failed to justify exclusion

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

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.67/Kol/2015 ("नधा"रण वष" / Assessment Year: 2008-09) Dcit, Circle-2(1), Kolkata Vs. M/S. Itc Infotech India Ltd. 37, J.L Nehru Road, Kolkata – 700071. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaci7376Q (Appellant/Revenue) .. (Assessee ) & आयकर अपीलसं./I.T.A No.485/Kol/2019 ("नधा"रण वष" / Assessment Year: 2008-09) M/S. Itc Infotech India Ltd. Vs. Dcit, Circle-2(1), Kolkata 37, J.L Nehru Road, Kolkata – 700071. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaci7376Q (Assessee ) .. (Revenue) Appellant/Revenue By : Dr. P. K. Srihari, Cit(Dr) Assessee By : Shri J. P Khaitan, Sr. Adv. & Bikash Chanda, Fca सुनवाईक"तार"ख/ Date Of Hearing : 06/08/2019 घोषणाक"तार"ख/Date Of Pronouncement : 23/10/2019 आदेश / O R D E R Per Shri S. S. Godara: These Revenue’S & Assessee’S Cross Appeal For Assessment Year 2008-09 Arise Against The Commissioner Of Income Tax (A) - Vi, Kolkata Dated 24.10.2014 Passed In Case No.Tp-07/Cit(A)-Vi/R-2/2012-13/Kol Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. We Come To The Revenue’S Appeal Ita No.67/Kol/2015. Its First Substantive Ground Pleads That The Cit(A) Has Erred In Law & On Facts In Reversing The

Transfer Pricing Officer had rightly excluded the loss making comparable entities. We see no reason to express our concurrence with the Revenue’s instant grievance. It emerges that the assessee has succeeded from the very issue of inclusion of loss making entities in preceding as well as succeeding assessment years. We find that this Revenue has failed to justify exclusion

M/S. PRICEWATERHOUSECOOPERS PRIVATE LIMITED,KOLKATA vs. ACIT, CIR-2(2), KOLKATA, KOLKATA

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2012-13 M/S Pricewaterhousecoopers V/S. Acit, Circle-2(2), Pvt.Ltd., Block-Ep, Plot-Y-14, Aayakar Bhavan, P-7, Salt Lake City, Sector-V, Chowringhee Square, Kokata-91 Kokata-69 [Pan No.Aabcp 9181 H] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Kanchan Kaushal, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 14-06-2018 सुनवाई क" तार"ख/Date Of Hearing 12-09-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Asstt. Commissioner Of Income Tax, Circle-2(2), Kolkata’S Assessment Order Dated 30.01.2017, Involving Proceedings Section 144C R.W. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. 2. The Assessee Appellant’S First Substantive Ground Raised In The Instant Appeal Challenge Correctness Of Transfer Price Adjustment Amounting To ₹345,51,562/- In Course Of Assessment As Pertaining To Its International Transactions With Its Overseas Associate Enterprise (Ae). This Assessee Is A Company Providing Consultancy Including Tax & Regulatory Services. It Filed Its Return On 30.11.2012 Stating Total Income Of ₹51,62,16,310/-. This Followed Its Revised Return Dated 31.03.2014 Reducing Its Taxable Income To ₹49,87,12,700/-. The Assessing Officer Took Up Scrutiny. He Came Across

transfer pricing adjustment back to the TPO for afresh adjudication. We therefore leave it open for him to adjudicate all factual as well as legal issues; as the case may be in consequential proceedings. The assessee’s former five substantive grounds to this effect are accepted for statistical purposes. 18. The assessee’s next substantive ground pleads that

ACIT, CIRCLE - 4(2), KOLKATA vs. M/S. MANAKSIA LTD., , KOLKATA

In the result the appeal of the revenue is dismissed and the cross objection of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year : 2014-15 Acit, Circle-4(2), Kolkata M/S. Manaksia Limited 8/1, Lalbazar Street Vs Kolkata – 700 001 Pan : Aaach6882J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) C.O. No. 13/Kol/2021 Assessment Year : 2014-15 M/S. Manaksia Limited Acit, Circle-4(2), Kolkata 8/1, Lalbazar Street Vs Kolkata – 700 001 Pan : Aaach6882J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.K. Tulsiyan, Advocae & Ms. Lata Goyal, Aca Revenue By : Shri Tushal Dhawal Singh, Cit, D/R

Section 253 of the Act, authorizes the respondent to file cross-objection against any part of the impugned order by which it is aggrieved. The procedure contemplated in the Income Tax Rules, 1962 and followed by the Registry is that on receipt of an appeal from the appellant it issues notice to the respondent. Though it is not a notice

DCIT, CIR-8, KOLKATA, KOLKATA vs. M/S ITC LIMITED, KOLKATA

Appeal is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ]

155/- and reduced the deduction accordingly. 4.1 In respect of power undertaking - II, the AO noted that the Assessee generated 8,97,59,276 units and set transfer price at Rs. 3.36/unit. Here also the Assessee has taken into account additional demand charges while computing the transfer price which was re-calculated by the AO. The AO further noted

ITC LIMITED,KOLKATA vs. ACIT, RG-8, KOLKATA, KOLKATA

Appeal is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ]

155/- and reduced the deduction accordingly. 4.1 In respect of power undertaking - II, the AO noted that the Assessee generated 8,97,59,276 units and set transfer price at Rs. 3.36/unit. Here also the Assessee has taken into account additional demand charges while computing the transfer price which was re-calculated by the AO. The AO further noted

DCIT, CC-1(3), KOLKATA, KOLKATA vs. M/S. A R SULPHONATES PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

Bench: Shri Sonjoy Sarma & Shri Girish Agrawalassessment Year: 2017-18

price which the stamp valuation authority would have, notwithstanding anything to the contrary contained in any other law for the time being in force, adopted or assessed, if it were referred to such authority for the purposes of the payment of stamp duty.] (3) Subject to the provisions contained in sub-section (2), where the value ascertained under sub-section

IVL DHUNSERI PETROCHEM INDUSTRIES PRIVATE LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA, KOLKATA

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

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyआयकर अपील सं/Ita No.1712/Kol/2024 (नििाारण वर्ा / Assessment Year : 2020-2021) Ivl Dhunseri Petrochem Vs Dcit, Circle-11(1), Kolkata Industries Pvt. Ltd. Dhunseri House, 4A Woodburn Park, L.R.Sarani, West Bengal-700020 Pan No. :Aafcd 5214 M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) नििााररती की ओर से /Assessee By : Shri Akkal Dudhewala, Ca & Vidhi Ladia, Ca राजस्व की ओर से /Revenue By : Pradip Kumar Mondal, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 19/03/2025 घोषणा की तारीख/Date Of Pronouncement : 23/04/2025 आदेश / O R D E R Rajesh Kumar, Am : This Is An Appeal Filed By The Assessee Against The Order Dated 26/07/2024, Passed By The Assessment Unit, National Faceless Assessment Centre U/S.143(3) R.W.S.144C(13) R.W.S.144B Of The Act, For The Assessment Year 2020-2021 On The Following Grounds :- 1.(A) For That On The Facts & In The Circumstances Of The Case & In Law, The Tpo Erred In Making A Downward Adjustment Of Rs.24,72,79,392/- In Respect Of The Transfer Value Of Power By The Captive Power Plant At Haldia, West Bengal. (B) For That On The Facts & In The Circumstances Of The Case & In Law, The Methodology Followed By The Assessee To Benchmark The Arm'S Length Value Of The Power Transferred By The Eligible Unit To The Non-Eligible Unit Fulfilled The Internal Cup Parameters & In That View Of The Matter The Transfer Pricing Adjustment Made By The Tpo Was Impermissible On The Given Facts & In Law. (C) For That On The Facts & In The Circumstances Of The Case & In Law, The Manner In Which The Drp/Tpo Has Benchmarked

price of electricity sold by it to its paper unit, the same could not be availed of by the assessee. The electricity generated was sold by the assessee entirely to its paper unit. There was no surplus electricity to be supplied to the State Electricity Board and consequently, there was no contract between the assessee and the State Electricity Board

M/S. HIMADRI CHEMICALS & INDUSTRIES LTD., (NOW KNOWN AS HIMADRI SPECIALITY CHEMICAL LTD.),KOLKATA vs. PCIT, CENTRAL-1, KOLKATA, KOLKATA

Bench: Shri Aby. T. Varkey & Shri M. Balaganeshi.T.A. No.819/Kol/2017 (Assessment Year 2011-12) M/S. Himadri Chemicals & Pcit, Central-1, Kolkata. Industries Ltd. -Vs- [Now Known As Himadri Specialty Chemical Ltd.] [Pan :Aaach 7475 H] (Appellant) .. (Respondent) For The Appellant Shri S.K. Tulsiyan, Advocate For The Respondent Dr. P. K. Srihari, Cit(Dr) Date Of Hearing 03.04.2019 Date Of Pronouncement 05.04.2019

155/-. The assessment was completed u/s 143(3) of the Act on 27.03.2015 determining total income of Rs.61,66,77,310/- under normal provisions of the Act. In the said assessment, disallowance u/s 14A of the Act was made to the tune of Rs.99,658/- and adjustment to arm’s length price as proposed by the ld. Transfer Pricing Officer

SMT. KAJARI BANERJEE,KOLKATA vs. ITO WARD-29(1), KOLKTAT

In the result, the appeal of the assessee is allowed

price of the flat and the value as\nper Stamp Valuation Authority. However, as a matter of fact the property was purchased\nin the earlier year as observed by us hereinabove in view of the payments being made\nin entirety in the earlier financial year and the details of payments have already\nextracted hereinabove. We note that the first payment

SEEMA SUREKA,KOLKATA vs. DCIT, CENTRAL CIRCLE - 3(3), KOLKATA

Appeal of the assessee is partly allowed

155 shall, as far as may be, apply in relation to the stamp duty\nvalue of such property for the purpose of sub-clause (b) as they apply for valuation of capital asset\nunder those sections:\nProvided further that this clause shall not apply to any sum of money or any property received—\n(a) from any relative

M/S CLASSIC FLOUR AND FOOD PROCESSING PVT LTD.,KOLKATA vs. ITO, WD-11(4), KOLKATA, KOLKATA

In the result, ITA No. 765 & 766/Kol/2014 are allowed while ITA

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ]

transfer of shares by the share holders had lower price. 19. The ld. Counsel for the assessee submitted before us that the only grievance of the CIT in the impugned order was justification for a high premium. It was the submission that the justification of paying high premium on shares acquired was not necessary to be examined