DCIT 8(2)(2), MUMBAI vs. SONATA SOFTWARE LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed and In the result, appeal filed by the Revenue is dismissed and appeal by the Assessee appeal by the Assessee is allowed

Bench: Shri Shamim Yahya, Hon’Ble & Shri Pawan Singh, Hon’Ble] I.T.A. No. 594/Mum/2017 Assessment Year: 2010-11 Dcit 8(2)(2), Mumbai……...........…...…………..….....................................................................Appellant Room No. 348, M.K. Road, Mumbai – 400 020. Vs. M/S. Sonata Software Ltd……………….......…..…………………....….......................................Respondent 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai – 400 030. [Pan: Aabcs 8459 D

section 92C(2) the price at which the C(2) the price at which the international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed to be the arm’s length price. ength price. This is so because

SONATA SOFTWARE LIMITED,MUMBAI vs. DCIT RANGE - 7(2) PRESENTLY ASSESSED WITH DCIT 8(2)(2), MUMBAI

In the result, appeal filed by the Revenue is dismissed and In the result, appeal filed by the Revenue is dismissed and appeal by the Assessee appeal by the Assessee is allowed

Bench: Shri Shamim Yahya, Hon’Ble & Shri Pawan Singh, Hon’Ble] I.T.A. No. 594/Mum/2017 Assessment Year: 2010-11 Dcit 8(2)(2), Mumbai……...........…...…………..….....................................................................Appellant Room No. 348, M.K. Road, Mumbai – 400 020. Vs. M/S. Sonata Software Ltd……………….......…..…………………....….......................................Respondent 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai – 400 030. [Pan: Aabcs 8459 D

section 92C(2) the price at which the C(2) the price at which the international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed international transaction has actually been undertaken is to be deemed to be the arm’s length price. ength price. This is so because

DCIT, CIR-14(1)(2), MUMBAI vs. M/S. EKTA EVEGLADE HOMES PVT LTD.,, MUMBAI

In the result, the ground raised by the revenue is allowed

Bench: SHRI ANIKESH BANERJEE (Judicial Member), SMT. RENU JAUHRI (Accountant Member)

92C of the Income Tax Act and in applying the same. The variance of 5% should be considered on a percentage basis of the arm's length price and not on an absolute basis. Ground Non- TP issue: 5. "Whether on the facts and circumstances of the case, the Id. CITIA) was right in restricting the addition of the receipt

DCIT-14(1)(2), MUMBAI vs. M/S. EKTA EVERGLADE HOMES PVT LTD.,, MUMBAI

In the result, the ground raised by the revenue is allowed

92C of the Income Tax Act and in\napplying the same. The variance of 5% should be considered on a percentage basis of the arm's\nlength price and not on an absolute basis.\nGround Non- TP issue:\n5. \"Whether on the facts and circumstances of the case, the Id. CITIA) was right in restricting\nthe addition of the receipt

DCIT 4(1), MUMBAI vs. HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P.LTD, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

68 of the Act. 3.1.11 On the facts and in the circumstances of the case and in law, the learned TPO erred and the Hon'ble DRP further erred in assuming the transaction relating to issue of equity shares as an international transaction within the explanation (i) (c) to Section 92B of the Act inserted vide Finance

HSBC SECURITIES AND CAPITAL MARKETS (I) P.LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

68 of the Act. 3.1.11 On the facts and in the circumstances of the case and in law, the learned TPO erred and the Hon'ble DRP further erred in assuming the transaction relating to issue of equity shares as an international transaction within the explanation (i) (c) to Section 92B of the Act inserted vide Finance

HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P. LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

68 of the Act. 3.1.11 On the facts and in the circumstances of the case and in law, the learned TPO erred and the Hon'ble DRP further erred in assuming the transaction relating to issue of equity shares as an international transaction within the explanation (i) (c) to Section 92B of the Act inserted vide Finance

M/S SANOFI INDIA LTD (FORMERLY KNOWN AS AVENTIS PHARMA LTD,MUMBAI vs. THE ACIT RG 8(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

2)(a)(b) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). 8. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in confirming the disallowance of Rs 87,61,130 representing part of the payment made for encashment of leave. He ought not to have done

ACIT- 3(1)(1), MUMBAI vs. MM/S SANOFI INDIA LIMITED (FORMERLY KNOWN AS AVENTIS PHARMA LTD)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

2)(a)(b) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). 8. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in confirming the disallowance of Rs 87,61,130 representing part of the payment made for encashment of leave. He ought not to have done

DEPUTY CIT-5(1)(1), MUMBAI, MUMBAI vs. M/S ESSAR SHIPPING LIMITED , MUMBAI

In the result, the appeal filed by the revenue stands dismissed

Bench: Shri Amit Shukla, Jm & Shri M Balaganesh, Am आयकरअपीलसं./ I.T.A. No. 821/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2015-16) M/S Essar Shipping Dy. Cit-Circle – 5(3)(1), Limited R. No. 568, Aayakar बिधम/ Essar House, 11, K K Bhavan, M. K. Road, Vs. Marg, Mahalaxmi, Mumbai-400 020 Mumbai-400 034 स्थायीलेखासं./जीआइआरसं./ Pan No. Aacce3707D (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Prakash R. Mane, Ld. Dr प्रत्यथीकीओरसे/Respondent By : Shri Manoj Patwari/ Shri Rishav Patwari, Ld. Ars सुनवाईकीतारीख/ : 18.08.2022 Date Of Hearing घोषणाकीतारीख / : 14.11.2022 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: The Aforesaid Appeal Has Been Filed By The Revenue Against Impugned Order Dated 28.02.2022, Passed By Ld. Cit (Appeals)-56, Mumbai For The Quantum Of Assessment Passed U/S 143(3) R.W.S.

92C prescribes methods for computation of arm's length price. None of the methods prescribed can have any application to computation of the tonnage income. In these circumstances, the computation provisions of Chapter X of the Act would fail and therefore, application of Chapter X of the Act in such circumstances has to fail. Tonnage tax provisions determine the entire

MORGAN STANLEY INDIA COMPANY P. LTD,MUMBAI vs. ADDL CIT 4(3), MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

ACIT 4(3), MUMBAI vs. MORGAN STANLEY INDIA CO. PVT. LTD., MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

MORGAN STANLEY INDIA COMPANY P.LTD,MUMBAI vs. ADDL CIT RG 4(3), MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

ADDL CIT RG 4(3), MUMBAI vs. MORGAN STANLEY INDIA CO P. LTD, MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

DCIT 4(3), MUMBAI vs. JM MORGAN STANLEY SECURITIES P. LTD, MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

DCIT CIR. 4(3)(2), MUMBAI vs. MORGAN STANLEY INDIA CO. PVT. LTD., MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

MORGAN STANLEY INDIA COMPANY P.LTD,MUMBAI vs. ASST CIT RG 4(3), MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

MORGAN STANLEY INDIA COMPANY P.LTD,MUMBAI vs. ADDL CIT RG 4(3), MUMBAI

In the result, appeal of the assessee is partly allowed and ground of the Revenue is dismissed

92C(2) 3 & 4 Disallowance under section 14A 5 Short grant of TDS 6 Assessment of incorrect amount of income under the head profits and gains from business. profession leading to the assessment of an incorrect amount of total income. M/s. Morgan Stanley India Company P. Ltd. 60. The ground Nos.2.1.1 to 2.1.2 are exactly same which has been

DY.CIT 7(1) (1) , MUMBAI vs. M/S. MATTEL TOYS (INDIA) PVT. LTD, MUMBAI

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

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2012-13 Dy. Cit, Circle-7(1)(1), M/S Mattel Toys (India) Pvt. Ltd., Room No. 126, 1St Floor, Phoenix House, B-Wing, 4Th Floor, Vs. Aayakar Bhavan, M.K. Road, 462, Senapati Bapat Marg, Lower Mumbai-400020. Parel, Mumbai-400013. Pan No. Aaccm 2563 P Appellant Respondent

92C,92D and and and 92E 92E 92E ,"international ,"international ,"international transaction" transaction" transaction" means means means a a a transaction transaction transaction between between between two two two or or or more more more associated associated associated enterprises, either or both of whom are non terprises, either or both of whom are non terprises, either or both of whom