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

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

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

AT&S INDIA PRIVATE LIMITED,KARNATAKA vs. D.C.I.T., CIRCLE-11(1), KOLKATA, KOLKATA

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

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

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

PHILIPS ELECTRONICS INDIA LIMITED,KOLKATA vs. ADDL. CIT, CIRCLE - 11, KOLKATA, KOLKATA

In the result, Revenue’s appeal is allowed for statistical purpose

Bench: Shri N.V.Vasusdevan & Shri Waseem Ahmed

Section 41(1) of the Act is not attracted to the facts of the present case. Relying on the judgment of Hon'ble Karnataka High Court in the case of McDowell & Co. Ltd. (supra) assessee’s appeal is allowed. 17. In the result, assessee’s appeal partly allowed for statistical purpose. Now coming Revenue’s appeal ITA 1545/kol/2009. 18. Grounds

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. PHILIPS ELECTRONICS INDIA LTD., KOLKATA

In the result, Revenue’s appeal is allowed for statistical purpose

Bench: Shri N.V.Vasusdevan & Shri Waseem Ahmed

Section 41(1) of the Act is not attracted to the facts of the present case. Relying on the judgment of Hon'ble Karnataka High Court in the case of McDowell & Co. Ltd. (supra) assessee’s appeal is allowed. 17. In the result, assessee’s appeal partly allowed for statistical purpose. Now coming Revenue’s appeal ITA 1545/kol/2009. 18. Grounds

DCIT, CIR-11(1), KOLKATA, KOLKATA vs. M/S. EPCOS INDIA PVT. LTD., KOLKATA

Appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2005-06 Deputy Commissioner Of Income Tax, Circle-11(1), Kolkata……..........….…..........…........Appellant Vs. M/S. Epcos India Pvt. Ltd............................………………..................................……………..........Respondent Kulia Kanchrapara Road Kalyani, Nadia Pin – 741 251 [Pan : Aaace 4000 H] Appearances By: Shri Sanjay Paul, Addl. Cit D/R & Shri Supriyo Pal, Jcit, Sr. D/R, Appearing On Behalf Of The Revenue. Smt. Rituparna Sinha, Fca & S.C. Giri C.A., Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : January 15Th, 2020 Date Of Pronouncing The Order : July 10Th, 2020 Order Per J. Sudhakar Reddy, Am :-

transfer pricing study report paragraph no. 5.1.6 contained in the transfer pricing study report – page no. 197 of the page no. 197 of the paperbook) includes royalty paid by the assessee to EPCOS AG (INR 9371 Thousand) paperbook) includes royalty paid by the assessee to EPCOS AG (INR 9371 Thousand) paperbook) includes royalty paid by the assessee to EPCOS

M/S. EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee stands allowed

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

transfer of depreciable assets was reduced from the opening WDV of the respective block of assets. After such reduction, none of the blocks ceased to exist and therefore only with reference to the resultant reduced WDV, the assessee was granted depreciation u/s 32 of the Act. In particular, our attention was drawn to Page 190 of the paper book, which

DONGFANG ELECTRIC CORPORATION,KOLKATA vs. DDIT (IT)-1(1), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Sri N.V. Vasudevan & Sri J. Sudhakar Reddy]

section, which requires maintenance of regular books of accounts u/s 44AA as well as preparation of accounts and getting the same audited as required u/s 44AB, which are subject to scrutiny by the Assessing Officer u/s 143(3) of the Act. 5. After considering the assessee's submissions separate orders u/s.197 were passed on 28.2.2005. WBPDCL & DPL were directed

DONGFANG ELECTRIC CORPORATION,KOLKATA vs. DCIT, INTERNATIONAL TAXATION 1(1), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are allowed

Bench: Sri N.V. Vasudevan & Sri J. Sudhakar Reddy]

section, which requires maintenance of regular books of accounts u/s 44AA as well as preparation of accounts and getting the same audited as required u/s 44AB, which are subject to scrutiny by the Assessing Officer u/s 143(3) of the Act. 5. After considering the assessee's submissions separate orders u/s.197 were passed on 28.2.2005. WBPDCL & DPL were directed

DCIT, CIRCLE-10(1), KOLKATA, KOLKATA vs. M/S. DIC INDIA LTD, KOLKATA

In the result, both the appeals of the Revenue are partly allowed

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

transfer pricing M/s. DIC India Ltd. AYs- 2010-11 & 2011-12 proceedings u/s 92CA, the l-d. TPO had not drawn any adverse inference. On these cumulative facts therefore, I find that the Ld. AO has without any requirement introduced the 'necessity' test for deciding the allowability of the expenditure which is not prescribed by the Legislature in section

DCIT, CIRCLE-10(1), KOLKATA, KOLKATA vs. M/S. DIC INDIA LTD, KOLKATA

In the result, both the appeals of the Revenue are partly allowed

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

transfer pricing M/s. DIC India Ltd. AYs- 2010-11 & 2011-12 proceedings u/s 92CA, the l-d. TPO had not drawn any adverse inference. On these cumulative facts therefore, I find that the Ld. AO has without any requirement introduced the 'necessity' test for deciding the allowability of the expenditure which is not prescribed by the Legislature in section

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. M/S. GUJARAT NRE COKE LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sri J. Sudhakar Reddy& Sri Aby T. Varkey)

197/- inter alia disallowing the claim of additional depreciation on electrical installations, disallowing deduction of PF contribution by employees, making an adjustment on account of bank guarantee commission u/s 92CA(3) of the Act and an adjustment on loan advanced to AE u/s 92CA(3) of the Act. The AO also denied relief by computing profits u/s 115JB

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. M/S. GUJARAT NRE COKE LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed

Bench: Sri J. Sudhakar Reddy& Sri Aby T. Varkey)

197/- inter alia disallowing the claim of additional depreciation on electrical installations, disallowing deduction of PF contribution by employees, making an adjustment on account of bank guarantee commission u/s 92CA(3) of the Act and an adjustment on loan advanced to AE u/s 92CA(3) of the Act. The AO also denied relief by computing profits u/s 115JB

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. GRAPHITE INDIA LTD., KOLKATA

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

Transfer Pricing Officer's order. Its case is that a corporate guarantee amounts to an international transaction as per section 92B Explanation inserted by the Finance Act 2012 w.e.f. 01.04.02. We find no merit in Revenue's instant grievance since various judicial precedents (2016) 157 ITD 132(Ahd), Tega Industries Ltd. vs. DCIT (ITA 1912/Kol/2012 dated 21.09.16) & Bharti Airtel

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

price contract and in terms of AS-7 issued by Institute of Chartered Accountants of India (ICAI) made a provision for future foreseeable losses and claimed deduction of such a provision. The Revenue disallowed the provision made for such foreseeable losses. The Tribunal concurred with the stand of the assessee that such a provision was an allowable deduction. The relevant

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

price contract and in terms of AS-7 issued by Institute of Chartered Accountants of India (ICAI) made a provision for future foreseeable losses and claimed deduction of such a provision. The Revenue disallowed the provision made for such foreseeable losses. The Tribunal concurred with the stand of the assessee that such a provision was an allowable deduction. The relevant

DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA vs. M/S. PAHARPUR COOLING TOWERS LTD., , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L.Saini

price contract and in terms of AS-7 issued by Institute of Chartered Accountants of India (ICAI) made a provision for future foreseeable losses and claimed deduction of such a provision. The Revenue disallowed the provision made for such foreseeable losses. The Tribunal concurred with the stand of the assessee that such a provision was an allowable deduction. The relevant

M/S LABVANTAGE SOLUTIONS PVT. LTD.,KOLKATA vs. DCIT, CIR-2(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

Pricing Study without considering the functional and risk analysis of the Appellant and the comparable companies. 5. Erroneous computation of adjustment amount by the TPO 5.1. The learned AO, DRP and TPO erred in computing the adjustment amount at 14,776,387 by erroneously including the following: (a) Cost of domestic segment (b) Payment of royalty. 6. Initiation of penalty