ACIT-3(4), MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed whereas the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2016-17 Reliance Industries Ltd., Dy. Cit Circle 3(4), 3Rd Floor, Maker Chamber Iv 222 Room No. 559, Aayakar Bhavan, Nariman Point, Vs. Maharshi Karve Road, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent Assessment Year: 2016-17 Acit-3(4), Reliance Industries Ltd., Room No. 481(2), 4Th Floor, 3Rd Floor, Maker Chamber Iv Aayakar Bhavan, N.M. Road, Vs. Nariman Point, New Marine Lines, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent

u/s 271(1)(c) of the Act is leviable as per I.T. Act, 1961. 6. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is deleting the penalty levied on transfer pricing

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 ()

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. DICT 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 ()

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 ()

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 ()

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

RELIANCE INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX -CIRCLE 3(4) , MUMBAI

In the result, the appeal of the Revenue is dismissed whereas\nthe appeal of the assessee is allowed

u/s 271(1)(c) of the Act is leviable as per I.T. Act, 1961.\n6. Whether on the facts and circumstances of the case and in law, the\nLd. CIT(A) is deleting the penalty levied on transfer pricing

ACIT-23(1), MUMBAI, PIRAMAL CHAMBER, MUMBAI vs. PARISHI DIAMONDS, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2012-13 Acit-23(1), Parishi Diamonds, 511, 5Th Floor, Piramal Chamber, Cc2091 To Cc 2093 Tower Central Vs. Lalbaug, Parel, Wings Bharat Diamond Bourse Bandra Mumbai-400012. Kurla Complex, Bandra East, Mumbai-400051. Pan No. Aajfp 2118 B Appellant Respondent

price. The requirement to maintain having regard to arm's length price. The requirement to maintain having regard to arm's length price. The requirement to maintain documentation is mandatory as pr documentation is mandatory as provided in sec.92D) r.w. Rule 10D. ovided in sec.92D) r.w. Rule 10D. The significance of maintenance of documentation has The significance of maintenance

DCIT, CC-7(1), MUMBAI vs. M/S MANEESH PHARMACEUTICALS LTD., MUMBAI

u/s 274 r.w.s. 271(1)(c) issued before passing the impugned order levying the penalty.” 3. The relevant facts, in brief, are that assessment under Section 143(3) read with Section 153A of the Act was framed for the Assessment Year 2010-11 on the Assessee, vide order dated 31.03.2016. The Assessing Officer made the following additions/disallowance and initiated penalty

LANXESS INDIA P.LTD,THANE vs. DCIT CIR 1, THANE

In the result, the appeal of the assessee

Bench: Shri Om Prakash Kant () & Shri Kavitha Rajagopal () Assessment Year: 2011-12 Lanxess India Pvt. Ltd., Dy. Cit, Circle-1, Lanxess House, Plot No. Room No. 22, 6Th Floor, B A/162-164, Road No. 27, Vs. Wing Asher It Park, Road, Wagle Estate, Opp. Iti College, 16-Z, Wagle Industrial Midc, Thane (West)-400 604. Estate, Thane (West)-400604. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2011-12 Dy. Cit, Circle-1, Lanxess India Pvt. Ltd., Room No. 22, 6Th Floor, B Wing Lanxess House, Plot No. Asher It Park, Road, 16-Z, Vs. A/162-164, Road No. 27, Wagle Industrial Estate, Thane Wagle Estate, Opp. Iti (West)-400604. College, Midc, Thane (West)- 400 604. Pan No. Aaccb 3880 A Appellant Respondent

transfer pricing adjustment to the manufacturing segment for each plant separately using internal plant separately using internal TNMM as most appropriate method, TNMM as most appropriate method, comparing the margin of export sales to third parties with t he comparing the margin of export sales to third parties with t he comparing the margin of export sales to third parties

DCIT CIR 1, THANE vs. LAXCESS INDIA P.LTD, THANE

In the result, the appeal of the assessee

Bench: Shri Om Prakash Kant () & Shri Kavitha Rajagopal () Assessment Year: 2011-12 Lanxess India Pvt. Ltd., Dy. Cit, Circle-1, Lanxess House, Plot No. Room No. 22, 6Th Floor, B A/162-164, Road No. 27, Vs. Wing Asher It Park, Road, Wagle Estate, Opp. Iti College, 16-Z, Wagle Industrial Midc, Thane (West)-400 604. Estate, Thane (West)-400604. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2011-12 Dy. Cit, Circle-1, Lanxess India Pvt. Ltd., Room No. 22, 6Th Floor, B Wing Lanxess House, Plot No. Asher It Park, Road, 16-Z, Vs. A/162-164, Road No. 27, Wagle Industrial Estate, Thane Wagle Estate, Opp. Iti (West)-400604. College, Midc, Thane (West)- 400 604. Pan No. Aaccb 3880 A Appellant Respondent

transfer pricing adjustment to the manufacturing segment for each plant separately using internal plant separately using internal TNMM as most appropriate method, TNMM as most appropriate method, comparing the margin of export sales to third parties with t he comparing the margin of export sales to third parties with t he comparing the margin of export sales to third parties

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

transfer pricing adjustment pertaining to reimbursement of expenses. 15.1. During the relevant previous year, the AEs of the Assessee incurred certain expenses relating to salary and other related costs of the employees who were seconded to the Assessee and who worked under the supervision, management and control of the Assessee. Subsequently the Assessee reimbursed these expenses incurred

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

271(1)(c) of the Act for furnishing inaccurate particulars of income 8. Levy of interest under section 234B of the Act 8.1. The Ld. AO erred in levying interest under section 234B of the Act. The Appellant craves leave to add, alter, amend, substitute or withdraw all or any of the Grounds of Appeal herein and to submit such

SCHINDLER INDIA P.LTD,MUMBAI vs. DCIT RG 8(3), MUMBAI

In the result, impugned order is set-aside and appeal of the assessee is allowed

Bench: Shri Vikas Awasthy& Ms. Padmavathy.Sआअसं.7492 /मुं/2014 (िन.व. 2004-05) आअसं.7493 /मुं/2014 (िन.व. 2005-06) M/S. Schindler India P. Ltd. E-401, Delphi, Hiranandani Business Park, Powai, Mumbai – 400 076. Pan: Aaecs-1548-J ...... अपीलाथ"/Appellant बनाम Vs. The Deputy Commissioner Of Income-Tax, Range – 8(3), Aaykar Bhavan, Mk Road, Mumbai – 400 020. ..... "ितवादी/Respondent Assessee By : Shri Yogesh Thar & Ms.Sakshi Dande Revenue By : Shri Pankaj Kumar सुनवाई की ितिथ/ Date Of Hearing : 06/07/2023 घोषणा की ितिथ/ Date Of Pronouncement : 22/09/2023 आदेश/Order Per Vikas Awasthy, Jm: These Two Appeals By The Assessee Are Directed Against The Order Of Commissioner Of Income Tax (Appeals)-15, Mumbai [In Short ‘ The Cit(A)’] For The Assessment Years 2004-05 & 2005-06, Respectively Confirming Penalty Levied U/S. 271(1)(C) Of The Income Tax Act, 1961 [ In Short ‘The Act’]. Both The Impugned Orders Are Of Even Date I.E. 10/09/2014. Since, The Facts

penalty u/s. 271(1)(c) of the Act has been levied in respect of Transfer Pricing adjustments. He contended that

SCHINDLER INDIA P.LTD,MUMBAI vs. DCIT RG 8(3), MUMBAI

In the result, impugned order is set-aside and appeal of the assessee is allowed

Bench: Shri Vikas Awasthy& Ms. Padmavathy.Sआअसं.7492 /मुं/2014 (िन.व. 2004-05) आअसं.7493 /मुं/2014 (िन.व. 2005-06) M/S. Schindler India P. Ltd. E-401, Delphi, Hiranandani Business Park, Powai, Mumbai – 400 076. Pan: Aaecs-1548-J ...... अपीलाथ"/Appellant बनाम Vs. The Deputy Commissioner Of Income-Tax, Range – 8(3), Aaykar Bhavan, Mk Road, Mumbai – 400 020. ..... "ितवादी/Respondent Assessee By : Shri Yogesh Thar & Ms.Sakshi Dande Revenue By : Shri Pankaj Kumar सुनवाई की ितिथ/ Date Of Hearing : 06/07/2023 घोषणा की ितिथ/ Date Of Pronouncement : 22/09/2023 आदेश/Order Per Vikas Awasthy, Jm: These Two Appeals By The Assessee Are Directed Against The Order Of Commissioner Of Income Tax (Appeals)-15, Mumbai [In Short ‘ The Cit(A)’] For The Assessment Years 2004-05 & 2005-06, Respectively Confirming Penalty Levied U/S. 271(1)(C) Of The Income Tax Act, 1961 [ In Short ‘The Act’]. Both The Impugned Orders Are Of Even Date I.E. 10/09/2014. Since, The Facts

penalty u/s. 271(1)(c) of the Act has been levied in respect of Transfer Pricing adjustments. He contended that

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) 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 of the case

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) 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 of the case

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

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 of the case

LORD INDIA P.LTD,MUMBAI vs. ASST CIT 10(2)(1), MUMBAI

In the result we allow the additional ground raised by the assessee and quash the assessment order

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhaillord India Private Vs. Assistant Commissioner Limited (F Ormer Ly Know N A S L Ord Of Income-Tax, Circle- India C Hem Ica L Pr Od Uct S Pv T. Lt D. ) 10(2)(1), Room No. 509, A/401-404, 215 – Atrium Aayakar Bhavan, Chakala, Andheri – Kurla M.K. Road, Road Andheri (East) Mumbai - 400020 Mumbai - 400093 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0785H Appellant .. Respondent Appellant By : M.P. Lohia Respondent By : Dr. Samual Pitta Date Of Hearing 29.03.2023 Date Of Pronouncement 24.04.2023 आदेश / O R D E R Per Amarjit Singh (Am): The Present Appeal Filed By The Assesse Is Directed Against The Order Passed By The Drp-1, Mumbai Dated 26.02.2015 For A.Y. 2011- 12. The Assesse Has Raised The Following Grounds Before Us: “1. Transfer Pricing - Availing Of Intra-Group Services 1.1 On The Facts & Circumstances Of The Case & In Law, The Learned Acit/ Drp Erred In Determining The Arm'S Length Price In Relation To The International Transaction Relating To The Availing Of Group Benefit Services/ Technical Service Management Services (Hereinafter Referred To As "Intra-Group Services") Of Rs.1,14,87,092 To Be Rs. 22,97,418/-, Thus Making An Adjustment Of Rs.91,89,674/- & Thereby Disregarding The Fact That The Appellant Had Received The Services For The Purposes Of Its Business. In Doing So, The Learned Acit/ Drp Grossly Erred By Not Appreciating The Commercial Wisdom/ Expediency Of The Appellant

Transfer Pricing Officer in accordance with the provisions of Sec. 92CA(1) of the Act for determination of arm’s length price in respect of assesse’s international transactions with associated enterprises. The TPO vide order u/s 92CA(3) dated 19.01.2015 has recommended adjustment of Rs.91,89,674/- in the arm’s length price of its international transaction with respect