M/S. PHILIPS INDIA LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am M/S Philips India Limited Dcit, Circle 11(1) 3Rd Floor, Tower-A, Dlf Park, Aaykar Bhavan, P-7, 08 Block Af, Major Arterial Chowringhee Square, Road, New Town (Rajarhat), Vs. Kolkata-700069, Kolkata-700156, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcp9487A Assessee By : Shri Ketan Ved, Ar Revenue By : Shri A. Kundu, Cit Dr Date Of Hearing: 07.03.2025 Date Of Pronouncement : 11.03.2025

transfer pricing adjustment stands deleted. Consequently, ground nos. 6 the assessee’s appeal stand allowed. 023. The issue raised in ground no.7, is against the disallowance of expenses of ₹7,50,50,000/- u/s 14A of the Act in relation to earning of exempt income. 024. The facts in brief are that during the year under consideration, the appellant

PRAMOD LAKRA,DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD., KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

Transfer Pricing Officer, case was referred to the TPO, consequent to the reference, the TPO forwarded the order u/s 92CA(3) of the Act and downward adjustment to the income of the assessee with respect to 80IA units is computed at Rs. 28,34,57,200/-. The AO after considering the order passed by the TPO and reply submitted

PRAMOD LAKRA,DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -11(1), KOLKATA, KOLKATA vs. PHILIPS CARBON BLACK LTD , KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

Transfer Pricing Officer, case was referred to the TPO, consequent to the reference, the TPO forwarded the order u/s 92CA(3) of the Act and downward adjustment to the income of the assessee with respect to 80IA units is computed at Rs. 28,34,57,200/-. The AO after considering the order passed by the TPO and reply submitted

PCBL LIMITED,KOLKATA vs. A.C.I.T., CIRCLE - 11(1),, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

Transfer Pricing Officer, case was referred to the TPO, consequent to the reference, the TPO forwarded the order u/s 92CA(3) of the Act and downward adjustment to the income of the assessee with respect to 80IA units is computed at Rs. 28,34,57,200/-. The AO after considering the order passed by the TPO and reply submitted

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

Transfer Pricing Officer, case was referred to the TPO, consequent to the reference, the TPO forwarded the order u/s 92CA(3) of the Act and downward adjustment to the income of the assessee with respect to 80IA units is computed at Rs. 28,34,57,200/-. The AO after considering the order passed by the TPO and reply submitted

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, all the appeals of the revenue are dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Pradip Kumar Choubey&Shri Sanjay Awasthi]

Transfer Pricing Officer, case was referred to the TPO, consequent to the reference, the TPO forwarded the order u/s 92CA(3) of the Act and downward adjustment to the income of the assessee with respect to 80IA units is computed at Rs. 28,34,57,200/-. The AO after considering the order passed by the TPO and reply submitted

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

VI to\nthe Companies Act' is made for the limited purpose of empowering the\nassessing authority to rely upon the authentic statement of accounts of the\ncompany. While so looking into the accounts of the company, an Assessing\nOfficer under the Income-tax Act has to accept the authenticity of the\naccounts with reference to the provisions of the Companies

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

VI to the Companies Act' is made for the limited purpose of empowering the assessing authority to rely upon the authentic statement of accounts of the company. While so looking into the accounts of the company, an Assessing Officer under the Income-tax Act has to accept the authenticity of the accounts with reference to the provisions of the Companies

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

VI to\nthe Companies Act' is made for the limited purpose of empowering the\nassessing authority to rely upon the authentic statement of accounts of the\ncompany. While so looking into the accounts of the company, an Assessing\nOfficer under the Income-tax Act has to accept the authenticity of the\naccounts with reference to the provisions of the Companies

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

VI to\nthe Companies Act' is made for the limited purpose of empowering the\nassessing authority to rely upon the authentic statement of accounts of the\ncompany. While so looking into the accounts of the company, an Assessing\nOfficer under the Income-tax Act has to accept the authenticity of the\naccounts with reference to the provisions of the Companies

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

VI to\nthe Companies Act' is made for the limited purpose of empowering the\nassessing authority to rely upon the authentic statement of accounts of the\ncompany. While so looking into the accounts of the company, an Assessing\nOfficer under the Income-tax Act has to accept the authenticity of the\naccounts with reference to the provisions of the Companies

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

VI to\nthe Companies Act' is made for the limited purpose of empowering the\nassessing authority to rely upon the authentic statement of accounts of the\ncompany. While so looking into the accounts of the company, an Assessing\nOfficer under the Income-tax Act has to accept the authenticity of the\naccounts with reference to the provisions of the Companies