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]

price has to be computed as per section 92 of the Act, in case of any international transaction, even if the subsidiary company incurs losses. 18. We have given a careful consideration to the rival submissions and perused the material available on record, we note that the cornerstone of Transfer

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]

price has to be computed as per section 92 of the Act, in case of any international transaction, even if the subsidiary company incurs losses. 18. We have given a careful consideration to the rival submissions and perused the material available on record, we note that the cornerstone of Transfer

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 by the assessee for the A.Y. 2012-13, the assesseecompany has entered into the following international transactions with its Associated Enterprises (AEs). Nature of services Amount (Rs.) Purchase of raw material 88,41,91,807/- Purchase of traded or finished

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 by the assessee for the A.Y. 2012-13, the assesseecompany has entered into the following international transactions with its Associated Enterprises (AEs). Nature of services Amount (Rs.) Purchase of raw material 88,41,91,807/- Purchase of traded or finished

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, 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

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

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

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

18. It is humbly submitted that there is no dispute between the department and the assessee that the Most Appropriate Method (MAM) to benchmark the transfer price of power is the CUP method. According to the TPO/Revenue, the average rate at which the power generating stations sold power to the Grid, in terms of the notified tariff order, constituted

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:

18. It is humbly submitted that there is no dispute between the department and the assessee that the Most Appropriate Method (MAM) to benchmark the transfer price of power is the CUP method. According to the TPO/Revenue, the average rate at which the power generating stations sold power to the Grid, in terms of the notified tariff order, constituted

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:

18. It is humbly submitted that there is no dispute between the department and the assessee that the Most Appropriate Method (MAM) to benchmark the transfer price of power is the CUP method. According to the TPO/Revenue, the average rate at which the power generating stations sold power to the Grid, in terms of the notified tariff order, constituted

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

section 92CA(1) of the Income Tax Act, 9 Assessment Year: 2005-2006 Organon (India) Limited 1961. During the course of proceedings before the Transfer Pricing Officer, segmental Profit & Loss Account of these two segments was prepared and furnished by the assessee showing the following results:- Particulars Purchase of RM Purchase of RM from Related, Export of MFG from related

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

Transfer Pricing analysis has to be under taken for the transaction undertaken by Indian Company with foreign independent customers. Besides, the Coordinate Bench of ITAT Mumbai has held in case of Aurionpro Solution Limited (ITA No 7872 of 2011) that for the purpose of determining the ALP, tested party can be the assessee. The Indian TP regulation per chapter

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

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

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. EPCOS FERRITES LTD., (SINCE MERGED WITH M/S. EPCOS INDIA P. LTD.,), NADIA

In the result, the both appeals filed by the revenue are dismissed, except other ground no

Bench: Shri A.T. Varkey, Jm & Dr.A.L.Saini, Am

18, page no. 26 of his order for AY 2002­03, mentioned that he had accepted eleven comparable companies (selected by the assessee company in transfer pricing study report) as functionally comparable to the assessee company for the purpose of the arm's length analysis under the TNMM. Without prejudice to above, the Ld. CIT(A), confirmed M/s.Epcos Ferrites Ltd (Since

AT & S INDIA PVT. LTD.,KARNATAKA vs. DCIT, CIR-11(1), KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2011-12

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