ACCENTURE SERVICES P.LTD,MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

carried out on–site as well as off– shore the contract revenue could not be separately bifurcated for on– site work.It is relevant to observe,while rejecting R.S. Software (India) Ltd., the Transfer Pricing Officer noticing that it has incurred substantial foreign currency expenditure has opined that it must have substantial on–site revenue and accordingly held that the company

VIACOM 18, MEDIA PVT LTD ,MUMBAI vs. PCIT-8, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

carried forward and set off losses of Rs. 7,39,70,30,887/- upto assessment year 2018-19 and losses for A.Y. 2019-20 shown Rs.2,82,64,81,723/- in CFL. However, no loss shown in computation of ITR 2019-20. Please explain and provide calculation accordingly.” 5.5 In response to above query, the assessee filed a detailed submission

ACCENTURE SERVICES P.LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, appeal is partly allowed

Bench: Shri Saktijit Deyand Shri N.K. Pradhan

Loss Account of the company forming part of the annual report, it is noticed that a substantial part of the revenue earned by the company during the year is from software development and consulting services. Thus, prima–facie it appears that the company is functionally similar to the assessee. In case of ACIT v/s M/s. Synechron Technologies

J.P MORGAN ADVISORS INDIA P.LTD,MUMBAI vs. DCIT RG 3(2), MUMBAI

In the result, appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

Loss account does indicate that the company, though, has earned revenue from different segments such as portfolio management fee, performance fee, advisory fee, etc., but the segmental details are not available Further, we have also noted from the annual report of the company that it has made investment and also incurred brokerage expenses. If we compare the assessee’s activities

DCIT CENT. CIR. 5(2), MUMBAI vs. IPCA LABORATORIES LTD., MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

IPCA LABORATORIES LTD,MUMBAI vs. ASST CIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

IPCA LABORATORIES LTD,MUMBAI vs. DCIT LTU, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

IPCA LABORATORIES LTD,MUMBAI vs. ACIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

IPCA LABORATORIES LTD,MUMBAI vs. DCIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

IPCA LABORATORIES LTD,MUMBAI vs. DCIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

ACIT CEN CIR 13, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

DCIT (LTU) 1, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

ASST CIT (LTU) 1, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

IPCA LABORATORIES LTD,MUMBAI vs. ASST CIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

carried out between associated companies, the appropriate ascertainment of transfer prices and of the arm’s length principle should take into account the set of products as compared to a pack of similar products, which is referred to as the basket approach. Generally such approach would be suitable for the set of products traded as a whole or have their

ZEE ENTERTAINMENT ENTERPRISES LIMITED,MUMBAI vs. ADDL. COMM OF INCOME TAX RANGE-11 (1), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri G.S.Pannu & Shri Ravish Soodzee Entertainment Enterprises Ltd., 135, Continental Building, Dr.A.B.Road, Worli, Mumbai 400 020 Pan:Aaacz 0243R ...... Appellant Vs. The Addl. Commissioner Of Income Tax, Range -11(1), 4Th Floor, Room No.434, Aaykar Bhavan,M.K.Road, Mumbai – 400 020 .... Respondent

carried out with an intention to ‘shift profit’. Though we are unable to find any statutory backing for the aforesaid stand of the Transfer Pricing Officer, but even going by the factual matrix of the present case, there is no material to say that the transaction in question is of ‘dubious nature’, as our subsequent discussion would show. 7.4 Firstly

ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, appeal of the revenue is dismissed

Bench: MS. SUCHITRA RAGHUNATH KAMBLE (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

price goes up in order to earn profits. In the result, the appeals filed by the Revenue challenging the judgment of the Punjab and Haryana High Court in State Bank of Patiala also fail, though low in this respect has been clarified hereinabove." 7. The judgment of the Punjab and Haryana Court in the case of State Bank of Patiala

MATRIX PARTNERS INDIA INVESTMENT HOLDINGS, LLC,MAURITIUS vs. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Ms. Padmavathy S ()

transfer of equity shares during the relevant previous year, and treat them separately, i.e., claiming gains as exempt under the DTAA and claiming losses to be carried forward under the provisions of the Act.” 4. On receipt of the DRP directions, the Ld.AO passed the impugned assessment order by reducing the Long-term capital loss against the long term capital

VIACOM 18 MEDIA P.LTD,MUMBAI vs. ADDL CIT 11(1), MUMBAI

In the result, assessee‟s appeal for A

Bench: Shri C.N. Prasad & Shri S. Rifaur Rahman

loss, as the case may be, computed on the basis of entries made in the books of account in respect of the previous year in which the international transaction was entered into.' From the above discussion it is vivid that whereas in the first situation, the ALP represents the true value of transaction or, profitability as will be there