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

section 92CA of the Act, the total income of the assessee was computed with the arm’s length price determined by the TPO. In the transfer pricing study report, it was mentioned that the assessee imports raw material and spare parts and produces finished goods which are supplied to the AE in Europe for resale purpose in AE’s territory

ORGANON (INDIA) LIMITED,MUMBAI vs. ADDL. CIT, CIRCLE - 12, KOLKATA, KOLKATA

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

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

section 92CA(1) of the Income Tax Act, 9 Assessment Year: 2005-2006 Organon (India) Limited 1961. During the course of proceedings before the Transfer Pricing Officer, segmental Profit & Loss Account of these two segments was prepared and furnished by the assessee showing the following results:- Particulars Purchase of RM Purchase of RM from Related, Export of MFG from related

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]

section 234C of the Act are very clear without any ambiguity that the same is chargeable only on the returned income. Hence, the Ground No. 3 raised by the assessee is allowed. 5. Adjustment to Arm’s Length Price – ITA No. 37/Kol/2012 – Asst Year 2007-08 The assessee is a closely held company engaged in the business of manufacturing

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]

section 234C of the Act are very clear without any ambiguity that the same is chargeable only on the returned income. Hence, the Ground No. 3 raised by the assessee is allowed. 5. Adjustment to Arm’s Length Price – ITA No. 37/Kol/2012 – Asst Year 2007-08 The assessee is a closely held company engaged in the business of manufacturing

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

96,192 transaction on costs side S Adjustment on account of I­F 79,388 exports to AE T Adjustment on account O­R 20,849 of costs incurred on transactions with AE U Total adjustment S+T 1,00,237 As per the calculation shown in the table above, the ld TPO made an arm`s length price adjustment

DCIT, CIR-11(1), KOLKATA, KOLKATA vs. M/S. EPCOS INDIA PVT. LTD., KOLKATA

Appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2005-06 Deputy Commissioner Of Income Tax, Circle-11(1), Kolkata……..........….…..........…........Appellant Vs. M/S. Epcos India Pvt. Ltd............................………………..................................……………..........Respondent Kulia Kanchrapara Road Kalyani, Nadia Pin – 741 251 [Pan : Aaace 4000 H] Appearances By: Shri Sanjay Paul, Addl. Cit D/R & Shri Supriyo Pal, Jcit, Sr. D/R, Appearing On Behalf Of The Revenue. Smt. Rituparna Sinha, Fca & S.C. Giri C.A., Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : January 15Th, 2020 Date Of Pronouncing The Order : July 10Th, 2020 Order Per J. Sudhakar Reddy, Am :-

Transfer Pricing Officer (TPO) in relation to the following international transactions: (i) purchase of raw materials (INR 96,05,434), (ii) payment of royalty (INR 93,70,670) and (iii) receipt of indenting commission (INR 2,95,50,194/-) and (iv) payment for Sales Margin (INR 4,35,28,375/-). The TPO adopted the transaction-by-transaction approach in relation

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

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

96,22,576 under section 234B of the Act. 11. Interest under section 234D 11.1. The Learned AO erred in levying interest of Rs. 1,61,67,498 under section 234D of the Act. 12. Interest under section 244A 12.1. The Learned AO erred in recovering interest of Rs. 42,39,613 under section 244A of the Act. 13. Penalty

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

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

96,22,576 under section 234B of the Act. 11. Interest under section 234D 11.1. The Learned AO erred in levying interest of Rs. 1,61,67,498 under section 234D of the Act. 12. Interest under section 244A 12.1. The Learned AO erred in recovering interest of Rs. 42,39,613 under section 244A of the Act. 13. Penalty

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

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

transfer of the commodity or scrips : Provided that for the purposes of this section,-- (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

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

transfer of the commodity or scrips : Provided that for the purposes of this section,-- (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

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

transfer of the commodity or scrips : Provided that for the purposes of this section,-- (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured

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

transfer pricing adjustment stating that the transaction between Assessee and its AE is at arm's length. AY 2012-13 AY 2013-14 Apollo Gleneagles Hospital Ltd. 3 7. Whether the CIT(A) is justified in facts and law in the circumstances of the case in deleting the addition made by the AO for disallowance under section 14A amounting

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

transfer pricing adjustment stating that the transaction between Assessee and its AE is at arm's length. AY 2012-13 AY 2013-14 Apollo Gleneagles Hospital Ltd. 3 7. Whether the CIT(A) is justified in facts and law in the circumstances of the case in deleting the addition made by the AO for disallowance under section 14A amounting

M/S. LINDE INDIA LIMITED (FORMERLY BOC INDIA LIMITED),KOLKATA vs. DCIT, CIRCLE 12(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. Manish Borad & Shri Anikesh Banerjee

96,698.11 needs o be made to the international transactions of the Assessee; 3.2. The TPO erred on facts and in law in rejecting the comparable companies arrived at in the Transfer Pricing Study without considering the functional and risk analysis of the Assessee; 3.3. The TPO erred in law and on facts in disregarding the application of multiple-year

M/S. PHILIPS INDIA LIMITED (FORMERLY PHILIPS ELECTRONICS INDIA LITD.),KOLKATA vs. ACIT, CIRCLE - 12(2), KOLKATA , KOLKATA

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

Bench: Hon’Ble Shri A.T.Varkey, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 2489/Kol/2017 Assessment Year : 2013-14 M/S Philips India Ltd. -Vs- Acit, Circle-12(2), Kolkata (Formerly Philips Electronics India Ltd.) [Pan: Aabcp 9487 A] (Appellant) (Respondent)

Transfer pricing - Computation of arm’s length price (Comparables and adjustments/Adjustments - General) - Assessment year 2007-08 - Whether answer to issue whether a transaction is at an arm's length price or not is not dependent on whether transaction results in an increase in assessee's profit; mere failure to establish that transactions resulted in a profit does not indicate that

M/S PHILIPS ELECTRONICS INDIA LTD.,KOLKATA vs. D.C.I,.T CIR - 11,KOLKATA., KOLKATA

In the result both the appeals of the assessee are partly allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 857/Kol/2011 Assessment Year : 2007-08 M/S Philips India Limited -Vs.- A.C.I.T., Circle-12(2), (Formerly Philips Electronics India Ltd.) Kolkata Kolkata [Pan : Aabcp 9487 A] (Respondent) (Appellant) I.T.A No. 1894/Kol/2012 Assessment Year : 2007-08 M/S Philips India Limited -Vs.- A.C.I.T., Circle-12(2), (Formerly Philips Electronics India Ltd.) Kolkata Kolkata [Pan : Aabcp 9487 A] (Respondent) (Appellant) For The Appellant : Shri Arvind Sonde, Advocate For The Respondent : Shri G.Mallikarjuna, Cit(Dr) Date Of Hearing : 10.01.2018. Date Of Pronouncement : 02.02.208. Order Per N.V.Vasudevan, Jm

transfer pricing study by the Appellant. 6. Disregard of Rule 10B(4) of the Income Tax Rules, 1962 ("the rules") The Learned AO, DRP and the TPO erred in law and on facts in not considering the application of multiple-year data while computing the margins of the comparable companies, having regard to the provisions of Rule

PHILIPS ELECTRONIS INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 11, KOLKATA, KOLKATA

In the result both the appeals of the assessee are partly allowed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 857/Kol/2011 Assessment Year : 2007-08 M/S Philips India Limited -Vs.- A.C.I.T., Circle-12(2), (Formerly Philips Electronics India Ltd.) Kolkata Kolkata [Pan : Aabcp 9487 A] (Respondent) (Appellant) I.T.A No. 1894/Kol/2012 Assessment Year : 2007-08 M/S Philips India Limited -Vs.- A.C.I.T., Circle-12(2), (Formerly Philips Electronics India Ltd.) Kolkata Kolkata [Pan : Aabcp 9487 A] (Respondent) (Appellant) For The Appellant : Shri Arvind Sonde, Advocate For The Respondent : Shri G.Mallikarjuna, Cit(Dr) Date Of Hearing : 10.01.2018. Date Of Pronouncement : 02.02.208. Order Per N.V.Vasudevan, Jm

transfer pricing study by the Appellant. 6. Disregard of Rule 10B(4) of the Income Tax Rules, 1962 ("the rules") The Learned AO, DRP and the TPO erred in law and on facts in not considering the application of multiple-year data while computing the margins of the comparable companies, having regard to the provisions of Rule

RECKITT DENCKISER (INDIA) LTD.,KOLKATA vs. DCIT, CIR-12(1), KOLKATA, KOLKATA

In the result, Appeals of the assessee are partly allowed for statistical purposes whereas Appeals of the revenue are dismissed to the extent indicated above

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.404/Kol/2015 आयकरअपीलसं./Ita No.625/Kol/2016 ("नधा"रणवष" / Assessment Year: 2010-11 To 2011-12)

transfer pricing regulations provide no guidance on how to allocate the TIC. The only example in the regulations [Treas. Reg. [section] 1.482-5(e), Example 4] allocates the entire TIC to the developer. It is, however, unrealistic to allocate the entire TIC to the developer of the intangible asset. Because the licensee assumes the risks and challenges of commercialization