SALTWATER STUDIO LLP,MUM vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकरअपीलसं/ I.T.A. No.13/Mum/2023 (निर्धारणवर्ा / Assessment Year: 2017-18) बिधम / Saltwater Studio Llp Nfac, Delhi 103, Corporate Corner, F Block, Northe Block, Vs. Sunder Nagar, Near Dalmia New Delhi-110001 College, Malad (West) Mumbai-400 064 स्थधयीलेखधसं/.जीआइआरसं/.Pan/Gir No. : Ackfs1653D (अपीलार्थी / Appellant) .. (प्रत्यर्थी / Respondent)

92D, declared the international transaction under Chapter X, and, disclosed all the material facts relating to the transaction; and (e) the amount of undisclosed income referred to in section 271AAB. (7) The penalty referred to in sub-section (1) shall be a sum equal to fifty per cent of the amount of tax payable on under-reported income

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

92D and 92E, unless the context otherwise requires, — (i) "accountant" shall have the same meaning as in the Explanation below sub-section (2) of section 288; (ii) "arm's length price" means a price which is applied or proposed to be applied in a transaction between persons other than associated enterprises, in uncontrolled conditions; (iii) "enterprise" means a person (including

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

TUBACEX PRAKASH INDIA P. LTD.,MUMBAI vs. ADDL/JT/CY/ASSTT/CIT/ ITO, NATIONAL E-ASSESSMENT CENTRE,, 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.3 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.

92D and after considering such evidence as the Transfer Pricing Officer may require on any specified points and after taking into account all relevant materials which he has gathered, the Transfer Pricing Officer shall, by order in writing, determine the arm's length price in relation to the international transaction or specified domestic transaction in accordance with sub-section

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.

92D and after considering such evidence as the Transfer Pricing Officer may require on any specified points and after taking into account all relevant materials which he has gathered, the Transfer Pricing Officer shall, by order in writing, determine the arm's length price in relation to the international transaction or specified domestic transaction in accordance with sub-section

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

reassessed has the effect of reducing the loss or converting such loss into income. (3) to (5)**** (6) The under-reported income, for the purposes of this section, shall not include the following, namely:— (a) the amount of income in respect of which the assessee offers an explanation and the Assessing Officer or the Commissioner (Appeals) or the Commissioner

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

reassessed has the effect of reducing the loss or converting such loss into income. (3) to (5)**** (6) The under-reported income, for the purposes of this section, shall not include the following, namely:— (a) the amount of income in respect of which the assessee offers an explanation and the Assessing Officer or the Commissioner (Appeals) or the Commissioner

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

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

reassessed has the effect of reducing the loss or converting such loss into income. (3) to (5)**** (6) The under-reported income, for the purposes of this section, shall not include the following, namely:— (a) the amount of income in respect of which the assessee offers an explanation and the Assessing Officer or the Commissioner (Appeals) or the Commissioner

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

reassessed has the effect of reducing the loss or converting such loss into income. (3) to (5)**** (6) The under-reported income, for the purposes of this section, shall not include the following, namely:— (a) the amount of income in respect of which the assessee offers an explanation and the Assessing Officer or the Commissioner (Appeals) or the Commissioner

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

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

reassessed has the effect of reducing the loss or converting such loss into income. (3) to (5)**** (6) The under-reported income, for the purposes of this section, shall not include the following, namely:— (a) the amount of income in respect of which the assessee offers an explanation and the Assessing Officer or the Commissioner (Appeals) or the Commissioner

SIEMENS TECHNOLOGY AND SERVICES PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, 8(2)(1), MUMBAI

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

Bench: Ms. Kavitha Rajagopal, Jm & Shri Gagan Goyal, Am Siemens Technology & Services Dy. Cit 8(2)(1) Private Limited Mumbai Plot No. 2, Sector 2, Kharghar, Vs. Node, Navi Mumbai- 410 210

92D and after considering such evidence as the Transfer Pricing Officer may require on any specified points and after taking into account all relevant materials which he has gathered, the Transfer Pricing Officer shall, by order in writing, determine the arm's length price in relation to the international transaction or specified domestic transaction in accordance with sub-section

TATA MOTORS LTD,MUMBAI vs. ACIT 2(3), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.631/मुं/2013 (िन.व. 2008-09) Tata Motors Limited Bombay House, 24,Homi Mody Street, Hutama Chowk, Mumbai – 400001. Pan: Aaact-2727-Q ...... अपीलाथ"/Appellant बनाम Vs. The Addl. Commissioner Of Income Tax Circle -2(3), Mumbai. Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ....."ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri J.D.Mistry, Sr.Advocate With Shri Nikhil Tiwari,Advocate "ितवादी "ारा/Respondent By : Ms. Vatsala Jha, Cit-Dr & Shri Manoj Kumar Singh, Sr.Ar सुनवाई की ितिथ/ Date Of Hearing : 10/11/2023 घोषणा की ितिथ/ Date Of Pronouncement : 05/02/2024 आदेश/Order Per Vikas Awasthy, Jm:

92D in respect of any person or class of persons.]' Provisions of section 2 (28C) of the Act defines the Joint Commissioner means a person appointed to be a Joint Commissioner Of Income Tax Or An Additional Commissioner Of Income Tax under subsection (1) of section 117 of the income tax act. Further with retrospective effect from 01/06/1994 section

DHL LOGISTICS P. LTD.,MUMBAI vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amarjit Singhdhl Logistics Private Vs. National E-Assessment Limited, 201A, Silver Centre Utopia, Cardinal Gracias Additional/Joint/Deputy/ Road, Chakala, Assistant Commissioner Andheri (East) Of Income Tax/Income Mumbai – 400099 Tax Officer, National E- Assessment Centre Delhi स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacm6824H Appellant .. Respondent Appellant By : Madhur Agrawal/Fenil Bhatt/ Darshan Dalal Respondent By : Jayant B Jhaveri Date Of Hearing 19.06.2023 Date Of Pronouncement 22.06.2023 आदेश / O R D E R Per Amarjit Singh (Am): This Appeal Filed By The Assesse Is Directed Against The Order Passed By The Cit(Drp-1), Mumbai, Dated 15.03.2021 For A.Y. 2016-17. The Assessee Has Raised The Following Grounds Before Us: “1. On The Facts & In The Circumstances Of The Case & In Law The Order Dated 1 November 2019 Passed By The Learned Asst. Commissioner Of Income-Tax (Transfer Pricing)-1(2)(2), Mumbai ('Ld. Tpo) Under Section 92Ca Of The Act Is Beyond The Time Limit Prescribed Under Section 92Ca(3A) R.W.S 153 Of The Income-Tax Act, 1961 (Act), Thus Making The Transfer Pricing Order & Resultant Final Assessment Order Dated 30 April 2021 Is Illegal, Bad In Law, Null & Void & Liable To Be Quashed. The Following Grounds Are Without Prejudice To Ground 1 Above.

92D of the Act read with Rule 10D of the Income-tax Rules, 1962 (Rules); 4.2 failing to appreciate the economic rationale of using "Operating Profit/ Value Added Expenses" as the Profit Level Indicator (PLI), and instead using "Operating Profit/ Total Cost (OP/TC) as the PLI. 4.3 not allowing the exclusion of pass through costs of the appellant

SOMA ENTERPRISES LIMITED,MUMBAI vs. THE PCIT,(CENTRAL)-MUMBAI-1, MUMBAI

In the result, all the appeals of the assessee are partly allowed

reassessment, TDS credit of Rs.48,55,95,799/- was granted to the assessee as against Rs.48,60,04,836/- already granted by the ld. AO vide 154 order dated 03/09/2014. 5.5. Subsequently the second search u/s.132 of the Act took place in the premises of the assessee alongwith ABIL group on 21/07/2017. Pursuant to the search fresh notice u/s.153A

SOMA ENTERPRISE LIMITED,HYDERABAD vs. THE PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals of the assessee are partly allowed

reassessment, TDS credit of Rs.48,55,95,799/- was granted to the assessee as against Rs.48,60,04,836/- already granted by the ld. AO vide 154 order dated 03/09/2014. 5.5. Subsequently the second search u/s.132 of the Act took place in the premises of the assessee alongwith ABIL group on 21/07/2017. Pursuant to the search fresh notice u/s.153A

SOMA ENTERPRISES LIMITED ,TELAGANA vs. THE PCIT (CENTRAL),MUMBAI-1, MUMBAI

In the result, all the appeals of the assessee are partly allowed

reassessment, TDS credit of Rs.48,55,95,799/- was granted to the assessee as against Rs.48,60,04,836/- already granted by the ld. AO vide 154 order dated 03/09/2014. 5.5. Subsequently the second search u/s.132 of the Act took place in the premises of the assessee alongwith ABIL group on 21/07/2017. Pursuant to the search fresh notice u/s.153A

SOMA ENTERPRISES LIMITED ,MUMBAI vs. THE PCIT(CENTRAL),MUMBAI-1, MUMBAI

In the result, all the appeals of the assessee are partly allowed

reassessment, TDS credit of Rs.48,55,95,799/- was granted to the assessee as against Rs.48,60,04,836/- already granted by the ld. AO vide 154 order dated 03/09/2014. 5.5. Subsequently the second search u/s.132 of the Act took place in the premises of the assessee alongwith ABIL group on 21/07/2017. Pursuant to the search fresh notice u/s.153A

SOMA ENTERPRISE LIMITED,HYDERABAD vs. THE PCIT (CENTRAL), MUMBAI-1, MUMBAI

In the result, all the appeals of the assessee are partly allowed

reassessment, TDS credit of Rs.48,55,95,799/- was granted to the assessee as against Rs.48,60,04,836/- already granted by the ld. AO vide 154 order dated 03/09/2014. 5.5. Subsequently the second search u/s.132 of the Act took place in the premises of the assessee alongwith ABIL group on 21/07/2017. Pursuant to the search fresh notice u/s.153A

SOMA ENTERPRISES LIMITED,TELANGANA vs. THE PCIT,(CENTRAL)-MUMBAI-1, MUMBAI

In the result, all the appeals of the assessee are partly allowed

reassessment, TDS credit of Rs.48,55,95,799/- was granted to the assessee as against Rs.48,60,04,836/- already granted by the ld. AO vide 154 order dated 03/09/2014. 5.5. Subsequently the second search u/s.132 of the Act took place in the premises of the assessee alongwith ABIL group on 21/07/2017. Pursuant to the search fresh notice u/s.153A