BIRLA CORPORATION LIMITED,KOLKATA vs. DCIT CIR.-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

section 43B(f) of the Act in the remand proceedings.” Additional Ground for Assessment Year 2014-15: “For that the Assessing Officer should have accepted the disallowance of Rs. 9,10,080/- offered by the assessee U/s. 14A and he erred in invoking and applying rule 8D.” 3. In the cross appeals for AY 2013-14 & 2014-15 most

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2013-14 &

Bench: Sri Rajpal Yadav & Dr. Manish Borad

section 43B(f) of the Act in the remand proceedings.” Additional Ground for Assessment Year 2014-15: “For that the Assessing Officer should have accepted the disallowance of Rs. 9,10,080/- offered by the assessee U/s. 14A and he erred in invoking and applying rule 8D.” 3. In the cross appeals for AY 2013-14 & 2014-15 most

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

transfer pricing adjustment made for deduction u/s 80IA of the Act raised by the Revenue are dismissed.” 4. Both the ld. representatives have submitted that the issue is squarely covered in favour of the assessee by the above decision of the Tribunal in the own case of the assessee for earlier assessment years. Therefore, respectfully following the same

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, 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

Transfer Pricing Adjustment on account of fees / commission for Corporate Guarantee given by the assessee on behalf of its Associated Enterprise (in short ‘AE’), and the second relating to disallowance towards deposit of employee PF & ESI contribution claimed under section 36(1)(va) of the Act since payment was made beyond the due date of filing the return

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

Transfer Pricing Adjustment on account of fees / commission for Corporate Guarantee given by the assessee on behalf of its Associated Enterprise (in short ‘AE’), and the second relating to disallowance towards deposit of employee PF & ESI contribution claimed under section 36(1)(va) of the Act since payment was made beyond the due date of filing the return

M/S TDK INDIA LIMITED (FORMERLY KNOWN AS EPCOS INDIA PVT. LTD.),KOLKATA vs. DCIT, CIR. -11(1), KOLKATA

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

transfer pricing perspective and ignored the fact that this issue pertains to the corporate tax. The direction of DRP is reproduced below: “The standard principle in judicial decisions on the matter of foreign currency gain/loss has been that where such gain/ loss is related to sales/ trade receivable/ payable in relation to the international transaction and not on capital account

M/S TDK INDIA PVT. LTD.(FORMERLY KNOWN AS M/S EPCOS INDIA PVT. LTD.),KOLKATA vs. DCIT, CIR. 11(1), KOLKATA

In the result, both the appeal of the assessee are partly allowed for statistical\npurposes

transfer pricing perspective and ignored the fact that this issue pertains to the\ncorporate tax. The direction of DRP is reproduced below:\n“The standard principle in judicial decisions on the matter of foreign currency gain/loss has\nbeen that where such gain/ loss is related to sales/ trade receivable/ payable in relation to the\ninternational transaction and not on capital

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

transfer of leasehold interest/rights, which is in consonance with the provisions of section 50C and section 56(2)(vii) of the Act. In defence of his argument, ld. A.R. relied on the following decisions:- (i) Green Fields Hotels & Estates (389 ITR 68) (Bom HC); (ii) Dy. CIT v. Tejinder Singh (19 taxmann.com 4) (ITAT Kolkata) (iii) Atul G Puranik

INDIAN EXPLOSIVES PVT LTD,KOLKATA vs. DCIT, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Rajesh Kumar & Sonjoy Sarma

transfer pricing adjustment on account of royalty payment has been deleted. Accordingly, we direct the AO to delete the addition of Rs. 1,70,19,072/-. Hence, ground no. 5 raised by the assessee is allowed. 11. The issue raised in ground no. 6 is against the disallowance of leave encashment of Rs. 63,30,289/- u/s 43B

TATA CONSUMER PRODUCTS LIMITED (SUCCESSOR OF TATA COFFEE LTD.),KOLKATA vs. A.C.I.T., CIRCLE - 4(1), KOLKATA

Appeal of the assessee is partly allowed

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Transfer Pricing Officer) (TPO) has worked out a CG @ 1%, whereas 2 Tata Consumer Products Limited (successor of Tata Coffee Ltd.) initially the assessee has pleaded that CG is not an “international transaction” for the purposes of section 92B of the Act, but thereafter has also taken the alternative plea that following judicial precedents, such CG should

THE INDIAN STEEL & WIRE PRODUCTS LTD.,KOLKATA vs. ITO, WD-3(2), KOLKATA, KOLKATA

In the result, appeal of the assessee for Assessment Year 2007-

Bench: Shri Sonjoy Sarma, Hon’Ble & Shri Girish Agrawal, Hon’Ble

price of the product and the reliable estimate of the expenditure towards such warranty was allowable as the business expenditure u/s 37(1) ". 8. The ld. Counsel for assessee submitted that, it is an undisputed fact that the said provisions had been created on a scientific basis. It is also a settled matter that the said provisions are allowable

THE INDIAN STEEL & WIRE PRODUCTS LTD.,KOLKATA vs. ITO, WD-3(2), KOLKATA, KOLKATA

In the result, appeal of the assessee for Assessment Year 2007-

Bench: Shri Sonjoy Sarma, Hon’Ble & Shri Girish Agrawal, Hon’Ble

price of the product and the reliable estimate of the expenditure towards such warranty was allowable as the business expenditure u/s 37(1) ". 8. The ld. Counsel for assessee submitted that, it is an undisputed fact that the said provisions had been created on a scientific basis. It is also a settled matter that the said provisions are allowable

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

Appeal is partly allowed and the CO is dismissed

Bench: the Hon'ble Income Tax Appellate Tribunal, Kolkata in ITA No. 1844/Kol/2017 for the assessment year 2009-10;

Transfer Pricing Officer (TPO) with respect to advisory services provided by M/s Global Footware Services, Singapore, which is an Associated Enterprise (AE) of the assessee. The Ld. DR pointed out that the TPO’s working for determining an Arm’s Length Price (ALP) resulted in “Nil” payment on the alleged ground that no benefit of services was actually received

MCLEOD RUSSEL INDIA LTD.,,KOLKATA vs. DCIT, CIRCLE 4(1),, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Transfer pricing adjustment of Rs. 5,67,942/- in respect of Corporate Guarantee Fee: It is pertinent to mention here that the AO has charged 0.74% as corporate guarantee fee on the account of corporate guarantee fee given by the assessee against the loan given to its associates concern. The Ld. A.R placed reliance on the decision of co-ordinate

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

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

price as on the date of grant of such stock option. During the year, the assessee has determined Rs. 314,23,65,720/- as employee compensation cost accruing for the year based on the vesting period of the ESOPs which was duly disclosed in the Annual Account for the said year. The assessee claims to be entitled to the deduction

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

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

price as on the date of grant of such stock option. During the year, the assessee has determined Rs. 314,23,65,720/- as employee compensation cost accruing for the year based on the vesting period of the ESOPs which was duly disclosed in the Annual Account for the said year. The assessee claims to be entitled to the deduction

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

price as on the date of grant of such stock option. During the year, the assessee has determined Rs. 314,23,65,720/- as employee compensation cost accruing for the year based on the vesting period of the ESOPs which was duly disclosed in the Annual Account for the said year. The assessee claims to be entitled to the deduction