SHELL INDIA MARKETS P.LTD,MUMBAI vs. CIT LTU, MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri R.C. Sharma (A.M.) & Shri Pawan Singh (Jm) Shell India Markets Pvt Ltd Vs Commissioner Of Income-Tax- Trent House, First Floor, Large Tax Units (Ltu) G-Block, Plot No.C-60, Mumbai Bandra Kurla Complex, Bandra (E) Mumbai-400 051 Pan : Aaics1404P Appellant Respondednt

reassessment proceedings, on the issues taken up by the Learned Commissioner in section 263 proceedings. We have seen the reply furnished by the assessee filed in response to the questions raised by the assessing officer during the re-assessment copy of which is available at page No. 264 to 283 of PB. In our view the AO must have gone

JIOSTAR INDIA PRIVATE LIMITED,MUMBAI vs. ASST CIT 16 (1), MUMBAI

Bench: Shri R.S. Syal (V.P.), Shri Aby T. Varkey (J.M.) & Shri Prashant Maharishi (A.M.) आयकर अपील सं. / Ita. No.7872/Mum/2019 "नधा"रण वष" / Assessment Year : 2015-16

92C, the other method for determination of the arm's length price in relation to an international transaction or a specified domestic transaction shall be any method which takes into account the price which has been charged or paid, or would have been charged or paid, for the same or similar uncontrolled transaction, with or between non- associated enterprises, under

MYLAN PHARMACEUTICALS PVT. LTD.,MUMBAI vs. A.C.I.T. 6(3), MUMBAI

In the result, both the appeal of the assessee and Revenue is partly allowed and the cross-objection of the assessee is dismissed

92C of the Act which clarified that the amended law shall apply to all TP proceedings which were pending on 1st October 2009. The relevant extract of the amended Section is as follows: (2) The most appropriate method referred to in sub-section (1) shall be applied, for determination of arm's length price, in the manner

ACIT 6(3), MUMBAI vs. MYLAN DEVELOPEMTNT CENTRE P.LTD ( FORMELRY MERCK DEVELOPMENT CENTRE P.LTD ), MUMBAI

In the result, both the appeal of the assessee and Revenue is partly allowed and the cross-objection of the assessee is dismissed

92C of the Act which clarified that the amended law shall apply to all TP proceedings which were pending on 1st October 2009. The relevant extract of the amended Section is as follows: (2) The most appropriate method referred to in sub-section (1) shall be applied, for determination of arm's length price, in the manner

DCIT(IT)-2(2)(2), NARIMAN POINT vs. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD, BANDRA

92C of tlie Income-tax Act, 1961 ('The Act'). Based on the said study, having regard to commercial\nand cronomic lactors, the amount paid/payable or received receivable in respect of the above transaction has been computed by the assessee, having regard\nto the arm's length price.\nNuto'st Seeneding to the assestre, the above mentioned transactione has been entered

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED INDIA BRANCHES ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

92C of tlie Income-tax Act, 1961 ('The Act'). Based on the said study, having regard to commercial\nand cronomic lactors, the amount paid/payable or received receivable in respect of the above transaction has been computed by the assessee, having regard\nto the arm's length price.\nNuto'st Seeneding to the assestre, the above mentioned transactione has been entered

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED -INDIA BRANCHES ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

92C of tlie Income-tax Act, 1961 ('The Act'). Based on the said study, having regard to commercial\nand cronomic lactors, the amount paid/payable or received receivable in respect of the above transaction has been computed by the assessee, having regard\nto the arm's length price.\nNuto'st Seeneding to the assestre, the above mentioned transactione has been entered

KANTAR ANALYTICS INDIA PRIVATE LIMITED (FORMERLY KNOWN AS FIREFLY MARKET RESERCH INDIA PRIVATE LIMITED (SUCCESSOR OF ANALYTICS QUOTIENT SERVICE INDIA PRIVATE LIMITED),MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(3)(1), MUMBAI

In the result the appeal filed by the assessee stands allowed

92C of the Act. Accordingly, the order of the TPO dated\n28 July 2023 is bad in law and ought to be quashed.\n8. On facts and in the circumstances of the case and in law, the\nlearned TPO, the AO and the Hon'ble DRP have exceeded their\njurisdiction by computing the Arm's Length Price

M/S. NATUREX INDIA PVT. LTD,MUMBAI vs. NFAC, DELHI DCIT-CIR 2(3) (1), MUMBAI

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

Bench: Shri Vikas Awasthy & Shri Gagan Goyalm/S. Naturex India Pvt. Ltd. 502, 5Th Floor, Akruti Centre Point, Midc Central Road, Andheri (East), Chakala Midc S.O. Mumbai-400093 Pan: Aabcv0883A ..... Appellant Vs. Nfac, Delhi/Dcit Cir. 2(3) (1) Aayakar Bhavan, M. K. Road, Mumbai- 400 020 ..... Respondent

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year, proceedings for which have been completed before the 1st day of July, 2012.] (3) On the date specified in the notice under sub-section (2), or as soon

DCIT(CC)-8(3), MUMBAI vs. 63 MOONS TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

reassessment proceedings. Reasons to believe recorded by the ld. Assessing Officer does not advert to any fresh tangible material which has come in his possession after the conclusion of the original assessment proceedings. They only make reference to the Assessment Order for AY 2014-15 and notes to account to the financial statement which in no way constitute fresh tangible

DCIT(CC)-8(3), MUMBAI vs. 63 MOONS TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

reassessment proceedings. Reasons to believe recorded by the ld. Assessing Officer does not advert to any fresh tangible material which has come in his possession after the conclusion of the original assessment proceedings. They only make reference to the Assessment Order for AY 2014-15 and notes to account to the financial statement which in no way constitute fresh tangible

DCIT(CC)-8(3), MUMBAI vs. 63 MOONS TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Girish Agrawal

reassessment proceedings. Reasons to believe recorded by the ld. Assessing Officer does not advert to any fresh tangible material which has come in his possession after the conclusion of the original assessment proceedings. They only make reference to the Assessment Order for AY 2014-15 and notes to account to the financial statement which in no way constitute fresh tangible

DCIT(CC)-8(3), MUMBAI vs. JSW ENERGY LIMITED, MUMBAI

In the result the appeals filed by the revenue for assessment\nyears under consideration stands partly allowed and cross\nappeals filed by the assessee stands dismissed

section 92C read with Rule 10B mandates that the\narm's length price must be determined having regard to the characteristics of the property\ntransferred or services provided, the functions performed, assets employed, risks\nassumed, and the contractual terms as they are actually performed. In financial\ntransactions, this necessarily includes the currency of the loan, the tenure, the security

DCIT(CC)-8(3) , MUMBAI vs. JSW ENERGY LIMITED, MUMBAI

In the result the appeals filed by the revenue for assessment\nyears under consideration stands partly allowed and cross\nappeals filed by the assessee stands dismissed

section 92C read with Rule 10B mandates that the\narm's length price must be determined having regard to the characteristics of the property\ntransferred or services provided, the functions performed, assets employed, risks\nassumed, and the contractual terms as they are actually performed. In financial\ntransactions, this necessarily includes the currency of the loan, the tenure, the security

ECL FINANCE LTD.,MUMBAI vs. A.C.I.T. - 3(1)(2), MUMBAI

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

92C, the TPO is required to pass the order determining the ALP of the international transactions. No time limit was initially given for the passing of order by the TPO. It is only by the Finance Act, 2007, that sub-section (3A) was inserted providing time limit for the passing an order by the TPO. No amendment has been carried

AAACORP EXIM INDIA PRIVATE LIMITED,MUMBAI vs. D.C.I.T.-CIRCLE-14(1)(1), MUMBAI

In the result the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Gagan Goyal & Aaa Corp Exim India Pvt. Ltd. C-206, Ghatkopar Industrial Estate, Off Lbs Marg, Ghatkopar (W), Mumbai-400 086 Pan: Aacca8815C ...... Appellant Vs. Dcit-14(1)(1) Income Tax Offices, Aayakar Bhavan, M. K. Road, Mumbai-400 020 ..... Respondent

92C. (1) The arm's length price in relation to an international transaction [or specified domestic transaction] shall be determined by any of the following methods, being the most appropriate method, having regard to the nature of transaction or class of transaction or class of associated persons or functions performed by such persons or such other relevant factors

BOMBAY RAYON HOLDINGS LIMITED,MUMBAI vs. ITO-9(2)(2), MUMBAI

In the result, appeals of the assessee are partly allowed

Bench: Shri Shamim Yahya & Shri Pawan Singh

reassessment proceedings for AY 2009-10 was initiated by the AO and the notice under section 148 of the Act issued on 29/03/2016 but in the return of income filed by the assessee no disclosures were made and again a nil return was filed. 4. In this case, after obtaining the approval of the jurisdictional Pr. Commissioner, the AO referred

DCIT(IT)-2(2)(2), AIR INDIA BUILDING vs. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD, BANDRA

In the result, appeals by the revenue are accordingly dismissed\nand those by the assessee are allowed

92C of tlie Income-tax Act, 1961 ('The Act'). Based on the said study, having regard to commercial\nand cronomic lactors, the amount paid/payable or received receivable in respect of the above transaction has been computed by the assessee, having regard\nto the arm's length price.\nNuto'st Seeneding to the assestre, the above mentioned transactione has been entered

PROCTER & GAMGLE HYGIENE& HEALTHCARE ,LTD,MUMBAI vs. ACIT CIR 7(1), MUMBAI

Appeals are partly allowed

Section 92C of the Act applied to assessment or reassessment proceedings pending before an Assessing Officer as on 01/10/2009. Accordingly