ACIT, CC- 3(4), KOLKATA , KOLKATA vs. M/S. HIMATSINGKA SEIDE LIMITED , BANGALORE

In the result, appeal of the assessee in IT(SS)A No

Bench: Shri Sanjay Garg & Shri Girish Agrawalit(Ss)A No.17/Kol/2018 Assessment Year: 2008-09 Himatsingka Seide Ltd. Deputy Commissioner Of 10/24, Kumara Krupa Road, High Vs. Income Tax, Central Circle- Grounds, Bangalore-560001. Xvi, Kolkata. (Pan: Aaach3507N) (Appellant) (Respondent) & It(Ss)A No.20/Kol/2018 Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent) & Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent)

transfer pricing adjustment made by the AO in the impugned assessment u/s. 153A read with section 143(3) are not in compliance with the provisions contained in section 92CA of the Act read with aforesaid CBDT In- struction. Thus, ground no. 4 taken by the assessee in this respect is allowed and ground nos. 1

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

transfer price for power was considered by the assessee equal to the price at which the electricity was procured by the manufacturing undertakings from the respective SEBs. Referring to explanation section 80IA, the A.O. held that for the purposes of section 80IA, the term ‘market value’ means the price that such goods or services would ordinarily fetch in the open

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:

transfer price for power was considered by the assessee equal to the price at which the electricity was procured by the manufacturing undertakings from the respective SEBs. Referring to explanation section 80IA, the A.O. held that for the purposes of section 80IA, the term ‘market value’ means the price that such goods or services would ordinarily fetch in the open

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:

transfer price for power was considered by the assessee equal to the price at which the electricity was procured by the manufacturing undertakings from the respective SEBs. Referring to explanation section 80IA, the A.O. held that for the purposes of section 80IA, the term ‘market value’ means the price that such goods or services would ordinarily fetch in the open

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

Transfer Pricing Officer (“the TPO”) with the approval of the Competent Authority. A detailed questionnaire was issued to the assessee and its response was incorporated in the draft assessment order under section 144C(1) issued to the assessee. The assessee filed a petition before the Dispute Resolution Panel (“the DRP”), and the DRP issued directions to the Assessing Officer

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

EXIMCORP INDIA PRIVATE LIMITED. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

4(1), read with section 5(2). If that be so, income-tax thereon would be deductible at source under section 195(1). [Para 9.2] Page 10 of 20 I.T.A. Nos.: 701 & 702/KOL/2023 AYs: 2015-16 & 2016-17 Eximcorp India Private Limited. Under the MOA, the assessee was responsible for paying to the seller non- resident, the amounts specified therein

EXIMCORP INDIA (P) LTD. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

4(1), read with section 5(2). If that be so, income-tax thereon would be deductible at source under section 195(1). [Para 9.2] Page 10 of 20 I.T.A. Nos.: 701 & 702/KOL/2023 AYs: 2015-16 & 2016-17 Eximcorp India Private Limited. Under the MOA, the assessee was responsible for paying to the seller non- resident, the amounts specified therein

ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

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

section 54F(1)\nwhich says that \"net consideration\", in relation to the transfer of a capital\nasset, means the full value of the consideration received or accruing as a\nresult of the transfer of the capital asset as reduced by any expenditure\nincurred wholly and exclusively in connection with such transfer.\nIn CIT vs. Miss Piroja C. Patel

ZYDUS HEALTHCARE LTD,GANGTOK vs. ACIT, CIR. 3(2), GANGTOK

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 139/Kol/2021 Assessment Year: 2014-2015 Zydus Healhcare Limited,……..................Appellant (Successor To Zydus Healthcare Sikkim), 4Th Floor, ‘D’ Wing, Zudus Corporate Park, Scheme No. 63, Survey No. 536, Khoraj (Gandhinagar), Nr. Vaishnodevi Circle, Ahmedabad, Gandhinagar, Gujrat-382481 [Pan: Aaacg1895Q] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-3(2), Gangtok, Sikkim-737101 Appearances By: Shri Ajit Kumar Jain, Ca & Sonal Pandey, A.R., Appeared On Behalf Of The Assessee Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : January 18, 2023 Date Of Pronouncing The Order : February 20, 2023 O R D E R

Transfer Pricing Officer (TPO) to determine the arm's length price of international transactions undertaken by the assessee. The TPO vide order passed under section 92CA(3) of the Act dated 24.01.2014 applied CUP method and determined the arm's length price of international transactions of payment of service fees at Nil as against Rs.3,45,55,434/- determined

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

4. The first common issue raised in ground no. 2 of the assessee’s appeal for AY 2012-13 & AY 2013-14 is with regard to transfer pricing adjustment made by the Transfer Pricing Officer (in short, the ‘TPO’) on account of corporate guarantee furnished by the assessee to a bank on behalf of the assessee’s step-down subsidiary

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

4. The first common issue raised in ground no. 2 of the assessee’s appeal for AY 2012-13 & AY 2013-14 is with regard to transfer pricing adjustment made by the Transfer Pricing Officer (in short, the ‘TPO’) on account of corporate guarantee furnished by the assessee to a bank on behalf of the assessee’s step-down subsidiary

DCIT, CIR. 5(1), KOLKATA vs. KARAM CHAND THAPAR & BROS COAL SALES LTD., KOLKATA

In the result, appeal of the Revenue for AY 2015-16 is partly allowed and appeal for AY 2016-17 is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. Nos. 320 & 321/Kol/2021 Assessment Years: 2015-16 & 2016-17 Deputy Commissioner Of Income Tax,........Appellant Circle-5(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Karam Chand Thapar & Bros. Coal Sales Limited,........................Respondent 25, Brabourne Road, Kolkata-700001 [Pan;Aabck1281H] Appearances By: Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Shri N.S. Saini, A.R., Appeared On Behalf Of The Assessee Date Of Concluding The Hearing : January 02, 2023 Date Of Pronouncing The Order : February 28, 2023 O R D E R

section 139(1) of the Act. 4. From the perusal of grounds, broadly two issues are involved, one relating to Transfer Pricing

DCIT, CIR. 5(1), KOLKATA vs. KARAM CHAND THAPAR & BROS COAL SALES LTD., KOLKATA

In the result, appeal of the Revenue for AY 2015-16 is partly allowed and appeal for AY 2016-17 is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. Nos. 320 & 321/Kol/2021 Assessment Years: 2015-16 & 2016-17 Deputy Commissioner Of Income Tax,........Appellant Circle-5(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Karam Chand Thapar & Bros. Coal Sales Limited,........................Respondent 25, Brabourne Road, Kolkata-700001 [Pan;Aabck1281H] Appearances By: Shri G. Hukugha Sema, Cit, Appeared On Behalf Of The Revenue Shri N.S. Saini, A.R., Appeared On Behalf Of The Assessee Date Of Concluding The Hearing : January 02, 2023 Date Of Pronouncing The Order : February 28, 2023 O R D E R

section 139(1) of the Act. 4. From the perusal of grounds, broadly two issues are involved, one relating to Transfer Pricing

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

Transfer Pricing\nOfficer, Kolkata (\"TPO\") u/s 92CA(1) of the Act. The Ld. TPO computed\nthe Arm's Length Price and passed an Order u/s 92CA(3) of the Act on\nJanuary 25, 2016. On receipt of the Ld. TPO's order, the Draft\nAssessment Order was passed on 10.03.2016 and was sent to the\nassessee. Vide letter dated 22nd

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

1)(a), while applying the CUP Method, as a starting point, ‘price charged or paid’ for property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions, has to be identified. However, Ld. TPO has not identified any such similar transactions while resorting to CUP method. We do not ascribe to such an adhoc approach

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

1)(a), while applying the CUP Method, as a starting point, ‘price charged or paid’ for property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions, has to be identified. However, Ld. TPO has not identified any such similar transactions while resorting to CUP method. We do not ascribe to such an adhoc approach

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S BIRLA CORPORATION LTD., KOLKATA

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

1 to 5 of the appeal would reveal that the sole issue raised by the revenue through these grounds is relating to the action of the CIT(A) in deleting the addition of Rs.124,76,75,528/- made by the Assessing Officer on account of transfer pricing adjustment in respect of the price of the power transferred by the section