KRITIKA WIRES LTD.,KOLKATA vs. PR.C.I.T.-2, KOLKATA

Appeal is allowed

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2014-15

2 nil income. The Assessing Officer framed his regular assessment on 23.11.2016 making various disallowance(s) / addition(s). He further observed in assessment order that as per the CBDT’s instruction No.3/2016, the transfer price issue had not been examined at all. 3. We proceed further to notice that the PCIT sought to assume his sec. 263 revision jurisdiction

GAURAV VINIMAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1),, KOLKATA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

section 56(2)(viia) of the Act were introduced with effect from 01.06.2010 to stop the transfer of shares below the fair market value. It was stated that only an allotment of share comes into existence and the shares were allotted, the price fixed by the issuing company was paid, the shares were allotted to the group companies

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

Transfer Pricing Officer (Ld. TPO) (in pursuance to the directions of the Learned Dispute Resolution Panel (Ld. DRP), erred in not accepting the returned income of the Appellant under normal provisions of the Income Tax Act, 1961 (‘the Act’) amounting to Rs. 2,21,33,99,386/- and enhancing the same by Rs. 5,80,32,672/- and also erred

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

Transfer Pricing Officer (Ld. TPO) (in pursuance to the directions of the Learned Dispute Resolution Panel (Ld. DRP), erred in not accepting the returned income of the Appellant under normal provisions of the Income Tax Act, 1961 (‘the Act’) amounting to Rs. 2,21,33,99,386/- and enhancing the same by Rs. 5,80,32,672/- and also erred

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

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

Transfer Pricing Adjustment on account of interest on loan given to subsidiary) has been discussed and adjudicated in favour of assessee. Learned counsel for the assessee submitted that the present issue in assessee`s appeal is squarely covered by the aforesaid order of the Tribunal, a copy of which was also placed before the Bench. 10. Learned Departmental Representative relied

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

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

Transfer Pricing Adjustment on account of interest on loan given to subsidiary) has been discussed and adjudicated in favour of assessee. Learned counsel for the assessee submitted that the present issue in assessee`s appeal is squarely covered by the aforesaid order of the Tribunal, a copy of which was also placed before the Bench. 10. Learned Departmental Representative relied

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

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

Transfer Pricing Adjustment on account of interest on loan given to subsidiary) has been discussed and adjudicated in favour of assessee. Learned counsel for the assessee submitted that the present issue in assessee`s appeal is squarely covered by the aforesaid order of the Tribunal, a copy of which was also placed before the Bench. 10. Learned Departmental Representative relied

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

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

ITC INFOTECH INDIA LTD.,KOLKATA vs. A.C.I.T.,CIR-2(1), KOLKATA

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

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

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

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

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

ACIT, CIRCLE - 2(1), KOLKATA, KOLKATA vs. M/S. ITC INFOTECH INDIA LIMITED, KOLKATA

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

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

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

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

In the result, appeals filed by the Revenue in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2075/Kol/2017 आयकरअपीलसं./Ita Nos.220 To 222/Kol/2018 ("नधा"रणवष" / Assessment Year:2010-11 To 2013-14)

2. The petitioner had offered the above mentioned amount of education cess for tax under the normal provisions of the Act considering the same as an expense disallowable under section 40(a)(ii) of the Act. M/s ITC Infotech India Ltd. ITA Nos. 220 to 222/Kol/2018 ITA Nos. 486 to 488/Kol/2019 Assessment Years

EMAMI INDRASTRUCTURE LIMITED,KOLKATA vs. ITO, WD-12(1), KOLKATA, KOLKATA

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

2 to 9 of appeal are accordingly decided against the appellant. " 10. Heard rival submissions and perused material on record. We find that the case of the assessee was that it sold equity shares of M/s. Zandu Realty to M/s. Emami Rainbow Niketan Pvt. Ltd, based on 9 the price of the shares determined by SSKM Corporate Advisory P.Ltd

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. DEVELOPMENT CONSULTANTS LTD., KOLKATA

In the result, the appeal filed by the Revenue is dismissed and cross

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1591/Kol/2010 ("नधा"रण वष" / Assessment Year :2005-2006) Dy.Commissioner Of Income Vs. Development Consultants Tax, Cir-11, Kolkata, Ltd.,24B, Development House, P-7, Chowringhee Square, Park Street, Kolkata-700016 Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacd 8900 F .. (अपीलाथ" /Assessee) (""यथ" / Respondent)

Transfer Pricing Officer (TPO). Therefore, the CPM method recommended by the TPO is the appropriate method, which is based on the TP study report of the assessee. This way, the ld DR for the Revenue has strongly defended the order passed by the ld. TPO. He also pointed out that order passed

M. K. SHAH EXPORTS LTD.,KOLKATA vs. DCIT, CIR-4, KOLKATA, KOLKATA

In the result, appeal filed by the Revenue in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

transfer pricing adjustment confirmed by the CIT(A) for three Months, viz: January 1, 2010 to March 31, 2010.Therefore, considering the factual position and position in law as explained above, the grounds of appeal of the Revenue ( in ITA No.1274 & 1275/Kol/2017) are dismissed and Assessee`s appeals ( in ITA No. 506 & 507/Kol/2017)are allowed. Now we adjudicate other grounds raised

M. K. SHAH EXPORTS LTD.,KOLKATA vs. DCIT, CIR-4, KOLKATA, KOLKATA

In the result, appeal filed by the Revenue in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

transfer pricing adjustment confirmed by the CIT(A) for three Months, viz: January 1, 2010 to March 31, 2010.Therefore, considering the factual position and position in law as explained above, the grounds of appeal of the Revenue ( in ITA No.1274 & 1275/Kol/2017) are dismissed and Assessee`s appeals ( in ITA No. 506 & 507/Kol/2017)are allowed. Now we adjudicate other grounds raised

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S M. K. SHAH EXPORTS LTD., KOLKATA

In the result, appeal filed by the Revenue in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

transfer pricing adjustment confirmed by the CIT(A) for three Months, viz: January 1, 2010 to March 31, 2010.Therefore, considering the factual position and position in law as explained above, the grounds of appeal of the Revenue ( in ITA No.1274 & 1275/Kol/2017) are dismissed and Assessee`s appeals ( in ITA No. 506 & 507/Kol/2017)are allowed. Now we adjudicate other grounds raised