DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

Transfer Pricing adjustment is required in case transaction exempt u/s 10A & 10B Unit. We note that as per section 92C (4) of the Act, no deduction under section 10A or section 10AA or section 10B or under Chapter VI-A shall be allowed in respect of the amount of income by which the total income of the assessee is enhanced

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. J. J. EXPORTERS LTD., KOLKATA

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

Transfer Pricing adjustment is required in case transaction exempt u/s 10A & 10B Unit. We note that as per section 92C (4) of the Act, no deduction under section 10A or section 10AA or section 10B or under Chapter VI-A shall be allowed in respect of the amount of income by which the total income of the assessee is enhanced

MADHU JAYANTI INTERNATIONAL LIMITED,KOLKATA vs. DCIT, CIRCLE - 4(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 214/Kol/2016 Assessment Year : 2011-12 Madhu Jayanti International Ltd. -Vs- Dcit, Cc-4(1), Kolkata [Pan: Aabcm 7502 R] (Appellant) (Respondent)

92, section 92C, section 92D, section 92E, rule 10B, 10C, 10D, 10E for computing its income having regard re arm's length price, and maintaining necessary information and documentation for determination of arm's length price. This was done as per procedures outlined and in good faith to comply with all the provisions of law and to 12 13 Madhu

STAR PAPER MILLS LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 4(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 424/Kol/2022 Assessment Year: 2018-19 Star Paper Mills Ltd. Dcit, Circle-4(1), Kolkata Duncan House Vs 31, N.S. Road Kolkata - 700001 [Pan : Aaecs0759B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Akkal Dudhewala, Fca Revenue By : Shri G. Hukugha Sema, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 13/04/2023 घोषणा क" तारीख /Date Of Pronouncement: 10/07/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Assistant Commissioner Of Income Tax, Circle- 4(1), Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 20/06/2022, Passed U/S 144C(13) Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19 Which Is Arising Out Of The Directions Of The Dispute Resolution Panel -2, New Delhi (Hereinafter Referred To As The ‘Ld. Drp) U/S 144C(5) Of The Act Dt. 29/04/2022. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That On The Facts & In The Circumstances Of The Case & In Law, The Ao/Tpo In Complete Disregard Of The Binding Precedent In Assessee'S Own Case For 2

92,190 16,18,75,076 power for captive consumption On the basis of reasons enumerated in his order, the T.P.O. made a Transfer Pricing adjustment of INR 16,18,75,076 in relation to the transaction of transfer of power from Captive Unit of Manufacturing Unit. The said order U/s.92CA(3) of the Act was passed after taking into

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules. In the said transfer pricing study report, the assessee has used the transactional net margin method and tested the margins of Almatis India. We note that the assessee adopted an incorrect approach of considering Almatis India as the tested party for analysis

ALMATIS ALUMINA PRIVATE LTD,KOLKATA vs. DCIT, CIRCLE-8(1), KOLKATA, KOLKATA

In the result, boththe appeals of the assessee in ITA No

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules. In the said transfer pricing study report, the assessee has used the transactional net margin method and tested the margins of Almatis India. We note that the assessee adopted an incorrect approach of considering Almatis India as the tested party for analysis

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

3 Epitome components Pvt ltd 4.50% 4 Centum electronics ltd 7.01% 5 Fineline Circuits (l) Ltd 4.47% 6 Essae Circuits (P) ltd 18.71% 7 Deki Electronics Ltd. 9.53% 8 Tibrewal Electronics Ltd. 13.01% 9 Akasaka Electronics Ltd. 0.54% 10 BLG Electronics Ltd. 3.83% 11 Watts Electronics Ltd. 6,96% 12 Micropack Ltd. 12.45% Average 9.05% 12. Thereafter

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:

3), and (4) of Section 42 read with Sections 39, 40, 86 and 181 of the Electricity Act, 2003 (36 of 2003) and all other powers enabling them in that behalf, have passed regulations for the introduction of open access to the intra-state transmission and distribution systems and terms and conditions thereof. They have liberalised the erstwhile policies wherein

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:

3), and (4) of Section 42 read with Sections 39, 40, 86 and 181 of the Electricity Act, 2003 (36 of 2003) and all other powers enabling them in that behalf, have passed regulations for the introduction of open access to the intra-state transmission and distribution systems and terms and conditions thereof. They have liberalised the erstwhile policies wherein

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

3), and (4) of Section 42 read with Sections 39, 40, 86 and 181 of the Electricity Act, 2003 (36 of 2003) and all other powers enabling them in that behalf, have passed regulations for the introduction of open access to the intra-state transmission and distribution systems and terms and conditions thereof. They have liberalised the erstwhile policies wherein

T.K.M.GLOBAL LOGISTICS LIMITED,KOLKATA vs. ACIT, WARD - 15(1), KOLKATA, KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2013-14 Tkm Global Logistics Limited.........………........................................................……………….…......Appellant Room No. 710 & 711 7Th Floor Diamond Heritage 16, Strand Road Kolkata – 700 001 [Pan : Aabct 2426 M] Vs. Asstt. Commissioner Of Income Tax, Ward-15(1), Kolkata………..........….………....…....Respondent Appearances By: Mr. Ajit Korde, Advocate & Ms. Rachna Agarwal, Ca, Appeared On Behalf Of The Assessee. Dr. P.K. Srihari, Cit Sr. D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 26Th, 2019 Date Of Pronouncing The Order : December 11Th, 2019 Order Per J. Sudhakar Reddy, Am :-

3. Further disallowance was made u/s 14A of the Act. 2 Assessment Year: 2013-14 TKM Global Logistics Limited 4. Aggrieved, the assessee is in appeal before us, disputing the Transfer Pricing Aggrieved, the assessee is in appeal before us, disputing the Transfer Pricing Aggrieved, the assessee is in appeal before us, disputing the Transfer Pricing Adjustment, made under

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)

3), there is no refer- ence by the AO to the Transfer Pricing Officer for the trans- actions covered by Transfer Pricing Regulations. The AO has simply incorporated the suggestion and adjustment made 15 IT(SS)A Nos.17 & 20/Kol/2018 & Himatsingka Seide Ltd., AY 2008-09 by the Transfer Pricing Officer vide order dated 31.10.2011 which has no locus standi

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. EPCOS FERRITES LTD., (SINCE MERGED WITH M/S. EPCOS INDIA P. LTD.,), NADIA

In the result, the both appeals filed by the revenue are dismissed, except other ground no

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

3). For payment of royalty (Item no. F),the RBI's approval has been considered as appropriate benchmark for determination of arm's length price. M/s.Epcos Ferrites Ltd (Since merged with M/s. Epcos India P.Ltd) (4).For item No. G above,Interest paid on corporate loan,the RBI's approval has been considered as appropriate benchmark for determination

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 143(2) of the Act was issued and served upon the assessee. The assessee during the year had international transactions with its Associated Enterprises (AE for short) for supplying the PCB manufactured by it. The Assessing Officer after having the approval from the CIT made reference to the Transfer Pricing Officer (TPO for short) u/s 92

LANDIS + GYR LIMITED,SOUTH 24 PARGANAS vs. DCIT, CIRCLE - 1, KOLKATA, KOLKATA

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

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

Pricing Outcomes with Value Creation, issued in the year 2015, ‘that in some situations, the transfer or secondment of one or more employees may, depending on the facts and circumstances, result in the transfer of valuable knowhow or other intangibles from one associated enterprise to another’. Even though in the instant case, the transaction is between two unrelated enterprises

M/S LANDIS+GYR LIMITED,,KOLKATA vs. DCIT, CIRCLE -1, KOLKATA, KOLKATA

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

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

Pricing Outcomes with Value Creation, issued in the year 2015, ‘that in some situations, the transfer or secondment of one or more employees may, depending on the facts and circumstances, result in the transfer of valuable knowhow or other intangibles from one associated enterprise to another’. Even though in the instant case, the transaction is between two unrelated enterprises

TCG DIGITAL SOLUTIONS PRIVATE LIMITED,KOLKATA vs. ITO, WARD-2(4), KOLKATA, KOLKATA

In the result, Ground No. 5 and 6 raised by the assessee are allowed

Bench: Shri A.T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1571/Kol/2016 ("नधा"रणवष" / Assessment Year:2011-12)

sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules. In TCG Digital Solutions (P) Ltd Solutions (P) Ltd. Assessment Year:2011-12 the said transfer pricing study report, the assessee has used the transactional net margin method and tested the margins of Almatis India. We note that the assessee adopted

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

92 of the Act. The Assessing Officer Therefore, referred to the Transfer Pricing Officer (TPO) under section 92CA for determination of the arm's length price (ALP). 72. The Transfer Pricing Officer proposed to benchmark the interest-free loan transaction by taking into account the cost of funds in the hands of the assessee (base rate of 8 per cent