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]

Section 92F(ii) lays down that "'arm's length price” means a price which is applied or proposed to be applied in a transaction between persons other than associated enterprises, in uncontrolled conditions." Sec.92(v) defines “transaction” to include "an arrangement, undertaking or action in concert,- (A) whether or not such arrangement, understanding or action is formal or in writing

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 of such goods or services is a specified domestic transaction referred to in section 92BA. 8.1 A perusal of the Explanation to Section 80IA(8) would reveal that in case of specified domestic transactions as referred to section 92BA of the Act, the market value will be the arm’s length price as in clause (ii) of section 92F

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 of such goods or services is a specified domestic transaction referred to in section 92BA. 8.1 A perusal of the Explanation to Section 80IA(8) would reveal that in case of specified domestic transactions as referred to section 92BA of the Act, the market value will be the arm’s length price as in clause (ii) of section 92F

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 of such goods or services is a specified domestic transaction referred to in section 92BA. 8.1 A perusal of the Explanation to Section 80IA(8) would reveal that in case of specified domestic transactions as referred to section 92BA of the Act, the market value will be the arm’s length price as in clause (ii) of section 92F

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)

transfer pricing provisions contained in sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules

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)

transfer pricing provisions contained in sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules

STAR PAPER MILLS LIMITED,KOLKATA vs. DCIT, CIR. 4(2), KOLKATA

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

Bench: Shri P. M .Jagtap, Vice-(Kz) & Shri A. T. Varkey, Jm]

price as defined in Section 92F(ii) of the Act. According to him, post the introduction of specified domestic transactions from AY 2013-14 and onwards, the transactions referred to in Section 80-IA(8) was required to be benchmarked under the transfer

DONGFANG ELECTRIC CORPORATION,KOLKATA vs. ACIT (INTERNATIONAL TAXATION), CIRCLE - 1(1), KOLKATA , KOLKATA

In the result, both appeals filed by the assessee are allowed

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.2563 & 2564/Kol/2017 ("नधा"रणवष" / Assessment Years: 2007-08 & 2008-09)

92F(v) of the Act ln this regard, we would like to have your kind attention to the Transfer Pricing provisions in the Act pertaining to the reference made by the Assessing Officer to the Transfer Pricing Officer. The provisions of section

DONGFANG ELECTRIC CORPORATION,KOLKATA vs. ACIT (INTERNATIONAL TAXATION), CIRCLE - 1(1), KOLKATA , KOLKATA

In the result, both appeals filed by the assessee are allowed

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.2563 & 2564/Kol/2017 ("नधा"रणवष" / Assessment Years: 2007-08 & 2008-09)

92F(v) of the Act ln this regard, we would like to have your kind attention to the Transfer Pricing provisions in the Act pertaining to the reference made by the Assessing Officer to the Transfer Pricing Officer. The provisions of section

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

Section 92F i.e. by due date of filing the return for that year i.e. by 31st October 2002. However, for the purpose of computing the arm's length price u/s 92C, as clearly laid down in Rule 10B (4), same year's data to be used. The ld TPO rightly noted that the size of an enterprise is an important

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

price (ALP) should be determined in relation to an international transaction. The term 'international transaction' has been defined in Section 92B to mean "a transaction between two or more AEs... ". Therefore, from Section 92B it can be interpreted that definition of international transaction refers to 'a transaction'. The terms 'transaction' has also been defined in section 92F(v) and Rule

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)

transfer pricing provisions contained in sections 92 and 92A to 92F of the Act, read with Rules 10A to 10E of the Rules

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 of Rs.10 Crore or more in an earlier assessment year and such adjustment has been upheld by the judicial authorities or is pending in appeal; and (c) where search and seizure or survey operations have been carried out under the provisions of the Income-tax Act and findings regarding trans- fer pricing issues in respect of international

DCIT/ACIT, CIRCLE-6(2), KOLKATA, KOLKATA vs. M/S. EMAMI LIMITED, KOLKATA

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

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1065 & 1066/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13)

transferred or services provided in the international transaction;” We note that ld TPO/AO in the assessee`s case under consideration has ignored the conditions prescribed in sub-clause (a) (ii) of sub rule (1), which states that comparable uncontrolled price method, by which, such price is adjusted to account for differences, if any, between the international transaction and the comparable

DCIT/ACIT, CIRCLE-6(2), KOLKATA, KOLKATA vs. M/S. EMAMI LIMITED, KOLKATA

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

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1065 & 1066/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13)

transferred or services provided in the international transaction;” We note that ld TPO/AO in the assessee`s case under consideration has ignored the conditions prescribed in sub-clause (a) (ii) of sub rule (1), which states that comparable uncontrolled price method, by which, such price is adjusted to account for differences, if any, between the international transaction and the comparable

D.C.I.T.,CIRCLA-10(2), KOLKATA vs. M/S BALARAMPUR CHINI MILLS LTD., KOLKATA

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

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

transfer of such goods or services is a specified domestic transaction referred to in section 92BA.” (Emphasis ours) 8.2. A plain reading of the above explanation demonstrates that, for determination of market value, you can adopt the price at which the goods or services would ordinarily fetch in the open market OR the ALP as defined in Section 92F

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S PHILIPS INDIA LTD., KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

section 32 of the Act read with Rule 5 of the Rules, depreciation @ 30% would be available if the following conditions are satisfied: i) Moulds are owned by the assessee; ii) Moulds re used for the purpose of assessee’s business; and iii) Moulds are exclusively used in the rubber / plastic factory (b) In the instant case, moulds were owned

M/S PHILIPS INDIA LTD.,KOLKATA vs. DCIT, CIR-12(2), KOLKATA, KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

section 32 of the Act read with Rule 5 of the Rules, depreciation @ 30% would be available if the following conditions are satisfied: i) Moulds are owned by the assessee; ii) Moulds re used for the purpose of assessee’s business; and iii) Moulds are exclusively used in the rubber / plastic factory (b) In the instant case, moulds were owned