SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

JSW ENERGY LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (TRANSFER PRICING) 2(3)(1), MUMBAI

In the result, the appeal is allowed

Bench: Us Is A Public Company Engaged In The Business Of Generation Of Power & Operation & Maintenance Of The Power Plants, As Also Other Allied Activities. During The Course Of Its Assessment Proceedings, The Assessing Officer Made A Reference Under Section 92Ca(1), For Determination Of The Arm‟S Length Price Of The International Transactions & Specified Domestic Transaction Entered Into By The Assessee With Its Associated Enterprises (Aes), To The Deputy Commissioner Of Income Tax, Assessment Year 2014-15 Page 2 Of 17

u/s 92D, it is pertinent to have a look at the intention of the legislature for introducing section 271G. The relevant portion of memorandum of budget 2001 is reproduced below "With a view to ensuring that multinational enterprises comply with the requirements of the new sections, it is also proposed to amend section 271 and insert new sections 271AA, 271BA

DCIT - (LTU) - 1 , MUMBAI vs. RELIANCE INDUSTRIES LTD., MUMBAI

In the result, the appeals filed by the Revenue and Cross Objections filed by the assessee are dismissed

Bench: Shri G. Manjunatha & Shri Ravish Sood

271(1)(c) where the reference is to section 92C(4) which provides for adjustment to be made by the AO whereas the TPO makes adjustment u/s 92CA. It is submitted that it is the TPO who has done the exercise of TP adjustment, who can form a satisfaction on the ingredients of penalty. In the instant case, the exercise

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

271(1)(c) Expl 5A held that even where\nsubsequent to search, assessee voluntarily disclosed a sum\nand offered said sum to tax, since said amount was not\ndisclosed in original return, penalty levied under section\n271(1)(c) was justified.\nHon'ble Supreme Court has upheld the decision of Hon'ble\nHigh Court in the above case.\n9.9 Although

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result all appeals of the assesses from AY 2014-15 to AY\n2020-21 are partly allowed

section 271(1)(c) of the Act are fulfilled. In view of\nthe above, the penalty in respect of interest and the excess\ndepreciation is also cancelled. The relevant grounds of the appeal of\nthe assessee are allowed.\n8. The grounds in respect of assessment year 2015-16 are\nreproduced as under:\n1. On the facts and circumstances

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ACIT(IT)-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-291)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CONNERSTONE ONDEMAND LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 6(3)(1), MUMBAI

271(1)(c)\nof the Act.\nThe Appellant prays that the penalty proceedings be dropped in the\nmatter.\nGround 5 - Levy of interest under section 234B of the Act\n5.1. On the facts and in the circumstances of the case, the learned AO\nhas erred in charging interest of Rs. 2,81,17,008.\nThe Appellant prays that

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

section 271(1)(c) of the Act are fulfilled. In view of\nthe above, the penalty in respect of interest and the excess\ndepreciation is also cancelled. The relevant grounds of the appeal of\nthe assessee are allowed.\n8. The grounds in respect of assessment year 2015-16 are\nreproduced as under:\n1. On the facts and circumstances

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT-CENTRAL CIRCLE 1(2), MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess depreciation is also cancelled. The relevant grounds of the appeal of the assessee are allowed.” 5. With respect to the penalty proceedings for AYs 2017–18 to 2019–20, the penalties were levied under section 270A

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess depreciation is also cancelled. The relevant grounds of the appeal of the assessee are allowed.” 5. With respect to the penalty proceedings for AYs 2017–18 to 2019–20, the penalties were levied under section 270A

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT-CENTRAL CIRCLE 1(2), MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess depreciation is also cancelled. The relevant grounds of the appeal of the assessee are allowed.” 5. With respect to the penalty proceedings for AYs 2017–18 to 2019–20, the penalties were levied under section 270A

TRIG DETECTIVES PVT LTD,MUMBAI vs. DCIT -CENTRAL CIRCLE -1(2), MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess depreciation is also cancelled. The relevant grounds of the appeal of the assessee are allowed.” 5. With respect to the penalty proceedings for AYs 2017–18 to 2019–20, the penalties were levied under section 270A

TRIG DETECTIVES PVT LTD ,MUMBAI vs. DCIT-CENTRAL CIRCLE 1(2), MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess depreciation is also cancelled. The relevant grounds of the appeal of the assessee are allowed.” 5. With respect to the penalty proceedings for AYs 2017–18 to 2019–20, the penalties were levied under section 270A