BARCLAYS BANK PLC,MUMBAI vs. CIT (INTERNATIONAL TAXATION)-RANGE-1, MUMBAI

In the result, the appeal by the assessee stands partly allowed

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Disallowance related to Derivative Sales Credit (DSC) amounting to INR 3,68,30,713 Ground no 2 On the facts and in circumstances of the case in law, the learned CIT has erred in initiating proceedings under section 263 of the Act when the original assessment order has been passed under section 143(3) r.w.s. 144C(13

PIRAMAL ENTERPRISES LIMITED,MUMBAI vs. ADDITIONAL COMMISSIONER OF INCOME TAX-7(1), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

section 144C functions like a first appellate authority. This is in complete violation of rules of natural justice. In such situation it is immaterial whether before making such addition / disallowance in the final assessment order, the assessee was given opportunity of being heard or not. What is material is, the assessee must be given a fair 13

TELEPERFORMANCE GLOBAL SERVICES P. LTD.,MUMBAI vs. THE ADDL/JT/DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT DENTRE,, DELHI

In the result, the appeal filed by the assessee stands allowed on the additional grounds

Bench: Us, First We Would Like To Address Ground No.2 Wherein The Assessee Has Submitted That The Order Of The Ld. Tpo U/S.92Ca(3) Of The Act Dated 01/11/2019 Is Barred By Limitation & Hence, Invalid In Law.

disallowance u/s.14A of the Act of Rs.7,84,950/-. The assessee preferred objections before the ld. DRP. The ld. DRP issued directions u/s.144C(5) of the Act on 20/03/2021. Pursuant to the directions of the ld. DRP, the ld. AO passed the final assessment order u/s.143(3) r.w.s. 144C(13) of the Act on 17/04/2021 which is same

STRIDES PHARMA SCIENCE LTD.,NAVI MUMBAI vs. THE DY CIT -5(1)(2), MUMBAI

In the result ITA number 1004/M/2021 filed by the assessee for assessment year 2016 – 17 is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Strides Pharma Science Ltd. Dcit 15(1)(2) 201, Devavrata, Sector-17, Aayakar Bhavan, M K Road, Vs. Vashi, Navi Mumbai, 400703 Mumbai 400020 (Appellant) (Respondent) Pan No. Aadcs8104P

144C (13) read with section 143 (3A) and 143 (3B) of the act on 13 April 2021 computing the total income of the assessee under section 115JB of the act of ₹ 1,622,908,043/–. In the normal computation of total income total disallowance

ATOS INDIA P.LTD,MUMBAI vs. DCIT RG 14(1)(1), MUMBAI

In the result, the appeal filed by the assessee stands allowed on the additional grounds

Bench: Shri G. S. Pannu & Shri Amit Shukla, Jm आयकरअपीलसं./ I.T.A. No. 1795/Mum/2017 (ननधधारणवर्ा / Assessment Year: 2012-13) Dcit-14(1)1), Atos India Pvt. Ltd., Aayakar Bhavan Godrej & Boyce Complex, बनाम/ Mumbai Plant 5, Pirojshanagar, Vs. Lbs Marg, Vikhroli (West), Mumbai-400079 स्थधयीलेखधसं./जीआइआरसं./ Pan No. Aaaco2461J (अपीलधथी/Appellant) (प्रत्यथी / Respondent) : अपीलधथीकीओरसे/ Appellant By : Shri Dhanesh Bafna /Chandni Sha /Riddhi Maru /Kinjal Patel, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Dr. Yogesh Kamat, Ld. Dr सुनवधईकीतधरीख/ 01.06.2022 & : 25.01.2023 Date Of Hearing घोर्णधकीतधरीख / : 23.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: 1. The Aforesaid Appeal Has Been Filed By The Assessee Against The Final Assessment Order Passed U/S 143(3) R.W.S. 144C(13) In 2

144C(13) in 2 I.T.A. No. 1795/Mum/2017 Atos India Pvt. Ltd. pursuance of direction given by the Ld. Dispute Resolution Panel (DRP)-1 vide order dated 28.12.2016 for the AY 2012-13. 2. The assessee has challenged Transfer Pricing (TP) adjustment in relation to provision of software development services and intra group services. Beside this, assessee has also raised various

FEDEX EXPRESS TRANSPORTATION AND SUPPLY CHAIN SERVICES (INDIA)PRIVATE LIMITED ('FETSCS')[FEDERAL EXPRESS INDIA PVT. LTD. MERGED WITH FETSCS WITH EFFECT FROM OCTOBER1,2013],MUMBAI vs. DCIT ,CIR 9(3)(1), MUMBAI

In the result, Ground of appeal no

Bench: Shri G.S. Pannu & Shri Sandeep Gosain: A.Y : 2011-12

13) of the Income Tax Act, 1961 (in short ‘the Act’), which is in terms of 2 Federal Express Transportation the directions issued by the Disputes Resolution Panel-1, Mumbai under section 144C(5) of the Act dated 28.12.2015. 2. In this appeal, assessee has raised the following Grounds of appeal: “I. Ground on jurisdiction 1. On the facts

FIDELITY SALEM STREET TRUST FIDELITY SAI EMERGING MARKETS INDEX FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(3)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

144C(13) of the Income-tax Act, 1961 (Act), in pursuance of the directions dated 4 December 2024, issued by the Hon'ble Dispute Resolution Panel-1, Mumbai (DRP-1) on the following grounds, each of which is without prejudice to and independent of the others On the facts and circumstances of the case

EMPLOYEES RETIREMENT SYSTEM OF TEXAS ,MUMBAI vs. DY CIT (INT. TAX)-2(2)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

144C(13) of the Income-tax Act, 1961 (Act), in pursuance of the directions dated 4 December 2024, issued by the Hon'ble Dispute Resolution Panel-1, Mumbai (DRP-1) on the following grounds, each of which is without prejudice to and independent of the others On the facts and circumstances of the case

WNS GLOBAL SERVICES PRIVATE LIMITED,MUMBAI vs. ASESSMENT UNIT, NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI, NEW DELHI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankarwns Global Services Private Vs Assessment Unit, National Faceless Limited, Mumbai Assessment Centre, New Delhi Pl-10/11, Gate No.4, Godrej- Boyce Complex, Pirojshanagar, L.B.S.Marg, Vikhroli (West), Mumbai-400 079 Pan: Aaacw2598L Appellant Respondent

144C(13) of the Act. 6 ITA 4432/Mum/2024 WNS Global Service Private Limited In the final assessment order, the Ld. AO made a transfer pricing adjustment under section 92CA amounting to Rs.11,26,24,233/-. In addition, disallowances

THE INDIAN HOTELS CO. LTD.,MUMBAI vs. PR. CIT-1, MUMBAI

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

Bench: Shri Amarjit Singh, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.950/Mum/2021 (ननधधारण वर्ा / Assessment Years: 2014-15) बनधम/ The Indian Hotels Company Pcit-1 Room No.330, 3Rd Floor, Ltd. Vs. 9Th Floor, Express Towers, Aayakar Bhavan, Barrister Rajini Patel Marg, Maharishi Karve Road, Nariman Point, Mumbai- Mumbai-400020. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaact3957G (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri K. K. Ved Revenue By: Shri Surendra Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 17/03/2022 घोषणा की तारीख /Date Of Pronouncement: 12/04/2022 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 31.03.2021 Passed By The Principal Commissioner Of Income Tax-01, Mumbai [Hereinafter Referred To As The “Pcit”] Relevant To The A.Y.2014-15 In Which The Principal Commissioner Of Income Tax-01 Has Invoked The Revisional Power U/S 263 Of The I.T. Act, 1961. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “Re.: Validity Of Order U/S, 263; On The Facts & In The Circumstances Of The Case & In Law, The Impugned Order Dated 31 March 2021 Passed Under Section 263 Of The Act Is Without Jurisdiction & Bad In Law. Without Prejudice To The Above, On The Facts & Circumstances Of The Case & In Law, The Principal Commissioner Of Income Tax (“Pcit”) Has Erred In Passing The Order Dated 31 March 2021 U/S. 263 Of The Act.

144C(13) of the Act dated 30.10.2018 is on the file in which the said issue has already been considered by DRP and accordingly followed by AO. The relevant finding is hereby reproduced as under: - “4 Disallowance u/s 36(1)(iii) for investment is overseas entities: 4.1 During the course of assessment proceedings it was observed that the assessee

STRIDES ARCOLAB LTD,NAVI MUMBAI vs. DCIT CIR 10(3),

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2877/Mum/2014 (निर्धारणवर्ा / Assessment Year: 2009-10) Strides Shasun Limited Dcit Cir. 15(3)(2) (Formerly Known As R. No. 451, 4Th Floor, Strides Arcolab Limited) बिधम/ Aayakar Bhavan, M. K. 201, Devavrata, Sector 17, Road, Mumbai-400 020 Vs. Vashi, Navi Mumbai – 400 703 स्थायीलेखासं./जीआइआरसं./ Pan No. Aadcs8104P (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Percy Pardiwala/ Shri Ketan Ved /Shri Ninad Patade, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Ms. Vatsalaa Jha, Ld. Dr सुनवाईकीतारीख/ : 18.01.2023 Date Of Hearing घोषणाकीतारीख / : 28.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla : The Aforesaid Appeal Has Been Filed By Assessee Against The Order Dated 26.02.2014 Passed U/S 143(3) R.W.S. 144C(13) In 2

section 115JB of the Act by: • considering the net profit amount as 'Profit before Tax and Exceptional Items' instead of 'Profit before Tax' • not reducing the amount of unabsorbed depreciation from the book profits • increasing the book profits by the amount of disallowance made u/s. 14A. 13. Levy of the interest u/s. 234B of the Act. 14. Levy

TATA CHEMICALS LTD.,MUMBAI vs. DY CIT 2 (3)(1), MUMBAI

disallowing the expenditure\non Scientific Research and Development u/s 35(2AB) totaling to Rs.\n4,24,13,526/- for all the three units, on the basis of the auditor's\ncertificate which stated that these expenses are beyond the\nguidelines laid down by DSIR. These guidelines are in contradiction\nwith the provisions of section

SHELL INDIA MARKETS PVT. LTD.,MUMBAI vs. ACIT (LTU) - 2, MUMBAI

In the result, appeal by assessee is allowed

disallowance in the Final Assessment Order (FAO) dated 26/02/2016 passed u/s 143(3) rws 144C(13) of the Act and determined the assessed income as INR 95,11,65,902 The assessed income is Rs. Nil, after the same is adjusted against unabsorbed business loss. Assessed Long Term Capital Loss to be carried forward is Rs.38,62,584/-. 8. Against

ACIT, (LTU)-2, MUMBAI vs. SHELL INDIA MARKETS PVT. LTD., MUMBAI

In the result, appeal by assessee is allowed

disallowance in the Final Assessment Order (FAO) dated 26/02/2016 passed u/s 143(3) rws 144C(13) of the Act and determined the assessed income as INR 95,11,65,902 The assessed income is Rs. Nil, after the same is adjusted against unabsorbed business loss. Assessed Long Term Capital Loss to be carried forward is Rs.38,62,584/-. 8. Against

MONDELEZ INDIA FOODS PRIVATE LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX -8 , MUMBAI

In the result, the appeal by the assessee stands partly allowed

Bench: Hon’Ble Shri Sandeep Gosain& Hon’Ble Shri Prabhash Shankarmondelez India Foods Vs. Principal Commissioner Private Limited Of Income-Tax, Mumbai- Unit No. 2001, 20Th Floor, 8 Tower-3 (Wing C), One 611, 6Th Floor, Aayakar International Cente Bhavan, Maharshi (Formerly Indiabulls Finance Karve Road, Mumbai- Centre) Parel, Mumbai- 400020 400013 Pan/Gir No. Aaacc0460H (Applicant) (Respondent) Assessee By Shri Nishant Thakker & Hiten Thakkar Revenue By Shri Krishna Kumar (Sr. Dr.) Date Of Hearing 19.02.2026 Date Of Pronouncement 27.03.2026 आदेश / Order Per Sandeep Gosain, Jm: The Present Appeal Has Been Filed By The Assessee Challenging The Impugned Order Dated 20.03.2025 Passed U/S 263 Of The Income Tax Act, 1961 (‘The Act’), By The Principal Commissioner Of Income Tax – Pcit, Mumbai-8 (‘The Ld. Pcit’) For The Assessment Year 2018-19. The Following Grounds Are Reproduced Below:

144C(13) of the Act was neither erroneous nor prejudicial to the interest of the revenue. 5. erred in initiating revision proceedings under section 263 of the Act despite the fact that the learned AO had conducted an enquiry on the relevant issues, and it is settled law that the power under section 263 of the Act cannot be exercised

SIEMENS LTD,MUMBAI vs. DCIT 8(2)(1), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

144C(13) of the Income Tax Act, 1961 ("the Act"), pursuant to the directions issued by the learned Dispute Resolution Panel–2, Mumbai, (―learned DRP‖), for the assessment year 2011–12. 2. In its appeal, the assessee has raised following grounds:– Siemens Limited (Successor in Interest to Siemens VAI Metals Technologies Pvt. Ltd.) ―1. On the facts

DCIT CC 7(2), MUMBAI vs. M/S GAMMON INDIA LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Rahul Chaudhary, Hon'Blem/S. Gammon India Ltd V. Dcit-Central Circle 7(2) 3Rd Floor, Plot No. 3/8 Room No. 655, 6Th Floor Hamilton House, J.N. Heredia Marg Aayakar Bhavan Ballard Estate, Mumbai- 400038 M.K. Road, Mumbai- 400020 Pan: Aaacg3821A (Appellant) (Respondent) Dcit, Central Circle 7(2) V. M/S. Gammon India Ltd Room No. 655, 6Th Floor 1, Gammon House Aayakar Bhavan, M.K. Road Veer Savarkar Marg Mumbai- 400020 Prabhadevi, Mumbai - 400025 Pan: Aaacg3821A (Appellant) (Respondent)

13,15,590/- towards adjustment of Arm's Length Price ("ALP") on account of Compensation for Corporate and Bank Guarantees issued for JV and Rs. 2,21,91,316/- towards adjustment of ALP on account of Hire Charges on Machineries provided to the JV, without appreciating that the said impugned adjustments of ALP has resulted in taxing the same income

GAMMON INDIA LTD,MUMBAI vs. DCIT, CC- 7(2)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Rahul Chaudhary, Hon'Blem/S. Gammon India Ltd V. Dcit-Central Circle 7(2) 3Rd Floor, Plot No. 3/8 Room No. 655, 6Th Floor Hamilton House, J.N. Heredia Marg Aayakar Bhavan Ballard Estate, Mumbai- 400038 M.K. Road, Mumbai- 400020 Pan: Aaacg3821A (Appellant) (Respondent) Dcit, Central Circle 7(2) V. M/S. Gammon India Ltd Room No. 655, 6Th Floor 1, Gammon House Aayakar Bhavan, M.K. Road Veer Savarkar Marg Mumbai- 400020 Prabhadevi, Mumbai - 400025 Pan: Aaacg3821A (Appellant) (Respondent)

13,15,590/- towards adjustment of Arm's Length Price ("ALP") on account of Compensation for Corporate and Bank Guarantees issued for JV and Rs. 2,21,91,316/- towards adjustment of ALP on account of Hire Charges on Machineries provided to the JV, without appreciating that the said impugned adjustments of ALP has resulted in taxing the same income