PUBLICIS COMMUNICATIONS P.LTD,MUMBAI vs. DCIT CIR 7(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm

Transfer Pricing Officer in this regard is misconceived, erroneous and incorrect. 3. Re : Disallowance of depreciation on goodwill: 3.1 The learned

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 6(3)(1), MUMBAI

depreciation of Rs. 7,17,193 on the\nwritten down value of assets being items included to block of assets\nof Computer, Plant and Machinery, Building consequent to\ndisallowance of revenue expenditure in the assessment orders of\n assessment year 2004-05, 2005- 06 and 2006-07.\n Assessment Year 2010-11\nGround 1 Transfer Pricing

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

transfer pricing adjustment pertaining to reimbursement of expenses. 15.1. During the relevant previous year, the AEs of the Assessee incurred certain expenses relating to salary and other related costs of the employees who were seconded to the Assessee and who worked under the supervision, management and control of the Assessee. Subsequently the Assessee reimbursed these expenses incurred

TATA AIG GENERAL INSURANCE COMAPANY LTD,MUMBAI vs. ASST CIT 2(3), MUMBAI

In the result, the appeal of the assessee is allowed

Transfer Pricing Officer’), is void and bad in law as it has been passed beyond the period of limitation under section 92CA read with section 153. Consequently, the final assessment order passed by the learned Assistant Commissioner of Income-tax 2(3), Mumbai (the ‘learned AO’) is also time barred. Additional Ground No.2 2. Without prejudice to additional ground

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

In the result, appeals of both, revenue and assessee are partly allowed for all the three assessment years

Bench: Shri Pawan Singh & Shri Girish Agrawal

transferred company, i.e., Tata Sons Ltd. He also pointed out to the difference in logo and trade mark as noted by ld. TPO in his order. It was thus, contended that brand of “Tata Consultancy Services” is owned by the assessee and not by Tata Sons Ltd. Thus, assessee has got its own brand value and has incorporated its valuation

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

transfer pricing provisions since they are merely 'machinery provisions and not charging provisions 2. Disallowance of principal lease payment of finance lease 2.1. On the facts and in the circumstances of the case, and in law, the Ld AO, following the directions of Hon'ble DRP, erred in disallowing Rs 73.02.481 related to "principal lease payment of finance lease under

O.C TANNER INDIA PRIVATE LIMITED ,MUMBAI vs. DCIT, CIRCLE -2(3)(1), MUMBAI

In the result the appeal is, accordingly, he appeal is, accordingly, allowed for statistical allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2021-22 O.C. Tanner India Pvt. Ltd., Dy. Cit, Circle-2(3)(1), No. 2, Lave 7 Tower 2, Phase Ii, 552, 5Th Floor, Aayakar Bhavan, Raiaskaran Techpark Andheri Vs. Maharishi Karve Road, Kurla Road, Andheri East, Mumbai-400020. Sakinaka S.O. Mumbai, Mumbai-400072. Pan No. Aabco 1031 F Appellant Respondent

transfer pricing adjustments in full. The additions made in the final assessment are as under: The additions made in the final assessment are as under: The additions made in the final assessment are as under: S. No. Particulars Particulars Amount (INR) Amount (INR) 1 Income as per return Income as per return Nil 2 Unabsorbed depreciation

STRIDES ARCOLAB LTD,NAVI MUMBAI vs. DCIT CIR 10(3),

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2877/Mum/2014 (निर्धारणवर्ा / Assessment Year: 2009-10) Strides Shasun Limited Dcit Cir. 15(3)(2) (Formerly Known As R. No. 451, 4Th Floor, Strides Arcolab Limited) बिधम/ Aayakar Bhavan, M. K. 201, Devavrata, Sector 17, Road, Mumbai-400 020 Vs. Vashi, Navi Mumbai – 400 703 स्थायीलेखासं./जीआइआरसं./ Pan No. Aadcs8104P (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Percy Pardiwala/ Shri Ketan Ved /Shri Ninad Patade, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Ms. Vatsalaa Jha, Ld. Dr सुनवाईकीतारीख/ : 18.01.2023 Date Of Hearing घोषणाकीतारीख / : 28.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla : The Aforesaid Appeal Has Been Filed By Assessee Against The Order Dated 26.02.2014 Passed U/S 143(3) R.W.S. 144C(13) In 2

Transfer Pricing Grounds 1. Imputing interest on delayed receipt from debtors 2. Imputing interest on the share application money paid to the subsidiaries by the Appellant. 3. Imputing guarantee commission with respect to the corporate guarantees provided by the Appellant to its Associated Enterprises Corporate Tax Grounds 4. Disallowance of the deduction claimed u/s 10B of the Income

ATOS INDIA P.LTD,MUMBAI vs. DCIT RG 14(1)(1), MUMBAI

In the result, the appeal filed by the assessee stands allowed on the additional grounds

Bench: Shri G. S. Pannu & Shri Amit Shukla, Jm आयकरअपीलसं./ I.T.A. No. 1795/Mum/2017 (ननधधारणवर्ा / Assessment Year: 2012-13) Dcit-14(1)1), Atos India Pvt. Ltd., Aayakar Bhavan Godrej & Boyce Complex, बनाम/ Mumbai Plant 5, Pirojshanagar, Vs. Lbs Marg, Vikhroli (West), Mumbai-400079 स्थधयीलेखधसं./जीआइआरसं./ Pan No. Aaaco2461J (अपीलधथी/Appellant) (प्रत्यथी / Respondent) : अपीलधथीकीओरसे/ Appellant By : Shri Dhanesh Bafna /Chandni Sha /Riddhi Maru /Kinjal Patel, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Dr. Yogesh Kamat, Ld. Dr सुनवधईकीतधरीख/ 01.06.2022 & : 25.01.2023 Date Of Hearing घोर्णधकीतधरीख / : 23.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: 1. The Aforesaid Appeal Has Been Filed By The Assessee Against The Final Assessment Order Passed U/S 143(3) R.W.S. 144C(13) In 2

Transfer pricing adjustments 1. Rendering of software development 68,37,05,578 services 2. Intra-group services 10,51,45,309 Sub- total (A) 78,88,50,887 Corporate tax additions 3. Grant of lesser deduction under section 48,53,467 10AA of the Act in respect of remaining units 4. Denial of claim of depreciation

TATA CHEMICALS LTD,MUMBAI vs. ADDL CIAT 2(3), MUMBAI

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

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

Transfer Pricing Officer / Assessing Officer. The observation of the Ld. DRP is reproduced below: - 3.3 Directions: We have considered the relevant facts and the contentions of the assessee and find that the AO has made an addition on account of expenditure u/s.14A. This is evidence enough that the AO is not satisfied with the calculation of the estimation

JOINT COMMISSIONER OF INCOME TAX (OSD)-4(1)(1), MUMBAI vs. CITIGROUP GLOBAL MARKETS (INDIA) PRIVATE LIMITED, MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Citigroup Global Markets (India) Private Limited The Dcit 1402, 14Th Floor, Circle -4(1), First International Financial Aaykar Bhavan Centre, Vs. M.K. Road, Bandra Kurla Complex, Mumbai-400 020 G Block, Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No.Aaecs7234F Citigroup Global Markets (India) The Jcit (Osd) Private Limited 4(1)(1) 1402, 14Th Floor, Room No. 640, 6 Th Floor, First International Financial Aaykar Bhavan, Centre, Vs. M.K. Road, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Shri Nishant Thakkar & Mr. Jasmin Amalsadwala, Ars Revenue By : Ms. Vranda U. Matkari, Dr Date Of Hearing: 04/08/2023 Date Of Pronouncement : 25/10/2023

Transfer Pricing Officer found that assessee has charged 0.10% to Citi Group Global Market Limited, UK at the rate of 0.10%. Therefore, assessee was asked to explain that why benchmarking of this transaction should not be made by adopting the rate charged to FIIs. The assessee objected to the same stating that there are functional differences in a respect

CITIGROUP GLOBAL MARKETS (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT, CIRCLE-4(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Citigroup Global Markets (India) Private Limited The Dcit 1402, 14Th Floor, Circle -4(1), First International Financial Aaykar Bhavan Centre, Vs. M.K. Road, Bandra Kurla Complex, Mumbai-400 020 G Block, Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No.Aaecs7234F Citigroup Global Markets (India) The Jcit (Osd) Private Limited 4(1)(1) 1402, 14Th Floor, Room No. 640, 6 Th Floor, First International Financial Aaykar Bhavan, Centre, Vs. M.K. Road, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Shri Nishant Thakkar & Mr. Jasmin Amalsadwala, Ars Revenue By : Ms. Vranda U. Matkari, Dr Date Of Hearing: 04/08/2023 Date Of Pronouncement : 25/10/2023

Transfer Pricing Officer found that assessee has charged 0.10% to Citi Group Global Market Limited, UK at the rate of 0.10%. Therefore, assessee was asked to explain that why benchmarking of this transaction should not be made by adopting the rate charged to FIIs. The assessee objected to the same stating that there are functional differences in a respect

DCIT CIR 2(2)(1), MUMBAI vs. GEA PROCESSING ENGINEERING INDIA P.LTD, GUJRAT

In the result appeal of the learned assessing officer for assessment year 2010 – 11 is partly allowed and CO of the assessee allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm M/S. Gea Procees Engineering Acit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) Co No. 216/Mum/2017 Arising Out Of Ita No. 1213/Mum/2017 (Assessment Year 2005-06) M/S. Gea Procees Engineering Acit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) M/S. Gea Procees Engineering Dcit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) Co No. 127/Mum/2017 Arising Out Of Ita No. 6494/Mum/2016 (Assessment Year 2009-10) M/S. Gea Procees Engineering Dcit Cir 2(2)(1) (I) Pvt.Ltd. Vs. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740

depreciation is to be allowed as per Section 32(1)(ii) of the Act. “ 028. Coming to the appeal of the learned assessing officer, ground number 1 – 3 of the appeal are with respect to the transfer pricing

DCIT CIR 2(2)(1), MUMBAI vs. GEA PROCESSING ENGINEERING INDIA P.LTD, GUJRAT

In the result appeal of the learned assessing officer for assessment year 2010 – 11 is partly allowed and CO of the assessee allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm M/S. Gea Procees Engineering Acit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) Co No. 216/Mum/2017 Arising Out Of Ita No. 1213/Mum/2017 (Assessment Year 2005-06) M/S. Gea Procees Engineering Acit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) M/S. Gea Procees Engineering Dcit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) Co No. 127/Mum/2017 Arising Out Of Ita No. 6494/Mum/2016 (Assessment Year 2009-10) M/S. Gea Procees Engineering Dcit Cir 2(2)(1) (I) Pvt.Ltd. Vs. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740

depreciation is to be allowed as per Section 32(1)(ii) of the Act. “ 028. Coming to the appeal of the learned assessing officer, ground number 1 – 3 of the appeal are with respect to the transfer pricing

DCIT 2(2)(1), MUMBAI vs. GEA PROCESSING ENGINEERING INDIA P.LTD, GUJRAT

In the result appeal of the learned assessing officer for assessment year 2010 – 11 is partly allowed and CO of the assessee allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm M/S. Gea Procees Engineering Acit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) Co No. 216/Mum/2017 Arising Out Of Ita No. 1213/Mum/2017 (Assessment Year 2005-06) M/S. Gea Procees Engineering Acit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) M/S. Gea Procees Engineering Dcit Cir 2(2)(1) (I) Pvt.Ltd. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad Vs. M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740 (Appellant) (Respondent) Co No. 127/Mum/2017 Arising Out Of Ita No. 6494/Mum/2016 (Assessment Year 2009-10) M/S. Gea Procees Engineering Dcit Cir 2(2)(1) (I) Pvt.Ltd. Vs. R.No. 545, Aayakar Bhavan, Savali Road, P.O. Dumad M.K.Road, Mumbai-400 020 Baroda, Gujarat-391 740

depreciation is to be allowed as per Section 32(1)(ii) of the Act. “ 028. Coming to the appeal of the learned assessing officer, ground number 1 – 3 of the appeal are with respect to the transfer pricing

INDIA MEDTRONIC P LTD,MUMBAI vs. ADDL/JT/DY/ASSTT/CIT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal of the assessee is allowed on legal ground

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI PRASHANT MAHARISHI (Accountant Member)

Transfer pricing adjustment 1,31,76,48,381 Total (A) 6. Disallowance of convention 48,57,29,824 expenses 7. Disallowance of depreciation

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

In the result, appeals of both, revenue and assessee are partly\nallowed for all the three

Pricing Officer were not on the basis of any detailed search process.\nAt least, no such analysis is either forthcoming from the order of the Transfer\nPricing Officer or could be brought to our notice by learned Departmental\nRepresentative. On the contrary, on a thorough and careful reading of the\nimpugned order of learned Commissioner (Appeals

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, appeals filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

depreciation of Rs. 7,17,193 on the written down value of assets being items included to block of assets of Computer, Plant and Machinery, Building consequent to disallowance of revenue expenditure in the assessment orders of assessment year 2004-05, 2005- 06 and 2006-07. Assessment Year 2010-11 Ground 1 Transfer Pricing