SHREE ARIHANT GEMS,MUMBAI vs. INCOME TAX OFFICER-19(3)(1), MUMBAI, MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

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

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 a permanent

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

92E and such transaction comes to the notice of the Transfer Pricing Officer during the course of the proceeding before him, the provisions of this Chapter shall apply as if such transaction is an international transaction referred to him under sub- section (1).] [(2C) nothing contained in sub-section (2B) shall empower the Assessing Officer either to assess or reassess

M/S WF ASIAN SMALLER COMPANIES FUND LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION CIRCLE 4(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.459/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14) M/S. Wf Asian Smaller बिधम/ Acit, Circle-4(3)(2) Companies Fund Ltd Room No. 1611, 16Th Vs. C/O Ankul Goyal, Azb & Floor, Air India Building, Partners A8, Sector-4, Nariman Point, Mumbai- Noida 201301. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacw5648R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Deepak Chopra/Ankul Goyal Revenue By: Shri Soumedu Kumar Dash (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 28/03/2023 घोषणा की तारीख /Date Of Pronouncement: 23/06/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Passed By The Ao Dated 19.01.2023 U/S 147 R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Pursuant To The Direction Issued By The Ld. Dispute Resolution Panel (Drp) For Ay. 2013-14. 2. The Assessee Has Raised The Legal Issue Challenging The Action Of The Ao To Have Reopened The Original-Scrutiny-Assessment U/S 143(3) Of The Act, After Four (4) Years [From The End Of The Relevant Assessment Year] Without Satisfying The Additional Condition Precedent As Prescribed In The Proviso To Section 147(1) Of The Act. Since The Assessee Has Raised The Legal Issue Assailing The Jurisdiction Of Ao To Have Issued Notice U/S 148 Of The Act, Proposing Re-Opening Of The Original Assessment [Framed Under Scrutiny Under Section 143(3) Of The Act], We Will Adjudicate It First. For Appreciating The Legal Issue, Let Us

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

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

92E of the Income-tax Act 1961. The assessee had also filed the\ntax audit report in form No. 3CA and 3CD u/s.44AB of the Income-tax Act, 1961.\nThe case was selected for scrutiny assessment and order under section 143(3)\nrws 144C(3) was passed on 03.02.2017, wherein the AO assessed the income

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

92E of the Income-tax Act 1961. The assessee had also filed the\ntax audit report in form No. 3CA and 3CD u/s.44AB of the Income-tax Act, 1961.\nThe case was selected for scrutiny assessment and order under section 143(3)\nrws 144C(3) was passed on 03.02.2017, wherein the AO assessed the income

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

92E of the Income-tax Act 1961. The assessee had also filed the\ntax audit report in form No. 3CA and 3CD u/s.44AB of the Income-tax Act, 1961.\nThe case was selected for scrutiny assessment and order under section 143(3)\nrws 144C(3) was passed on 03.02.2017, wherein the AO assessed the income

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

92E of the Income-tax Act 1961. The assessee had also filed the\ntax audit report in form No. 3CA and 3CD u/s.44AB of the Income-tax Act, 1961.\nThe case was selected for scrutiny assessment and order under section 143(3)\nrws 144C(3) was passed on 03.02.2017, wherein the AO assessed the income

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

92E of the Income-tax Act 1961. The assessee had also filed the\ntax audit report in form No. 3CA and 3CD u/s.44AB of the Income-tax Act, 1961.\nThe case was selected for scrutiny assessment and order under section 143(3)\nrws 144C(3) was passed on 03.02.2017, wherein the AO assessed the income

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

reassessment of credit, or restructuring. None of these arm's length\nprotections were adopted here. Instead, the assessee extended ever-increasing\naccommodation to its AE. The transfer pricing regulations do not permit the AE to be\nplaced in a more favourable position than an independent borrower, and it is precisely to\ncorrect for this disparity that an arm's length

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

reassessment of credit, or restructuring. None of these arm's length\nprotections were adopted here. Instead, the assessee extended ever-increasing\naccommodation to its AE. The transfer pricing regulations do not permit the AE to be\nplaced in a more favourable position than an independent borrower, and it is precisely to\ncorrect for this disparity that an arm's length