MACROTECH DEVELOPERS LTD.(SUCCESSOR TO BELLISSIMO CROWN BUILDMART PVT LTD.,,MUMBAI vs. DCIT CENTRAL CIRCLE 7(3), MUMBAI

The appeal is allowed

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

rectification order u/s 154 of the Act. However, the Tribunal and the Hon'ble High Court upheld the assessee's claim that the said amendment was prospective in nature and did not apply to block period falling before 01 -06- 2002. However, the plea of the assessee was rejected by the Hon'ble Supreme Court in CIT v. Suresh

MACROTECH DEVELOPRS LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 7(3), MUMBAI

The appeal is allowed

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

rectification order u/s 154 of the Act. However, the Tribunal and the Hon'ble High Court upheld the assessee's claim that the said amendment was prospective in nature and did not apply to block period falling before 01 -06- 2002. However, the plea of the assessee was rejected by the Hon'ble Supreme Court in CIT v. Suresh

M/S. LAXMI ORGANIC INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

u/s 35(2AB) in the\nreturn of income\nC*150%\n7,82,38,578\n\nE\nVariation in the assessment order in\nrespect to deduction u/s.35 (2AB)\nD-A\n3,61,05,919\n\n15. 3. Department submits that the assessee has not satisfied the\nstatutory conditions of section 35(2AB) read with Rule 6(7A), and that\nthe deduction

SHELL INDIA MARKETS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(4), MUMBAI

Bench: SHRI AMIT SHUKLA, JUDICIAL MEMBER\n&\nMS. PADMAVATHY S (Accountant Member)

Transfer Pricing Officer (TPO)/Hon'ble\nDRP have erred in completing the assessment of the Appellant\nunder Section 143(3) r.w.s.144C(13) and 144B of the Act,\nwherein the total income is assessed at Rs.755,61,45,499 in\npursuance to the Directions issued by the DRP, as against Rs.\n215,80,20,610 returned income.\nTRANSFER PRICING GROUNDS

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:

rectification order passed u/s. 154 of the Act dated 21/04/2011 allowed interest of Rs.13,03,17,397/-. Subsequent to direction of the DRP, the AO again modified the interest amount vide order passed u/s. 154 dated 15/04/2013 to Rs.12,20,33,651/-. Thus, the assessee has offered interest Rs.4,23,16,581/- (Rs.16,43,50,232 – Rs.12

RED HAT INDIA PRIVATE LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE 15(3)(1), MUMBAI

In the result, the appeal of the assessee is allowed

rectification order under section 154 read with section 92CA(5) was passed on 18 December 2019, whereby the total adjustment was reduced to INR 30,31,89,144. The assessee, being aggrieved, carried the matter before the Dispute Resolution Panel, which issued its directions, pursuant to which a final assessment order dated 26 March 2021 came to be passed

MAERSK GLOBAL SERVICE CENTERS (INDIA ) PVT. LTD,MUMBAI vs. THE DCIT CIRCLE-15(1) (1) ADDL/JT/DY/ACIT/ITO-NFAC-DELHI, MUMBAI

In the result, appeal of assessee is partly allowed

Bench: Shri Vikas Awasthy & Ms. Padmavathy.Sआअसं.723/मुं/2022 (िन.व. 2017-18) Maersk Global Service Centres (India) Private Limited, 12Th Floor, Empire Tower, Village Elthan, Airoli, Off Thane Belapur Road, Navi Mumbai – 400 708. Pan: Aadcm-7786-M ...... अपीलाथ"/Appellant बनाम Vs. The Dcit, Circle 15(1)(1), Addl/Jt/Dy/Acit/Ito-Nafc-Delhi, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ..... "ितवादी/Respondent

rectification application u/s. 154 of the Act before the TPO. The TPO vide order dated 20/10/2022 accepted the claim of assessee and excluded the aforesaid companies from the list of comparables. However, the order u/s. 154 of the Act was passed by the TPO subsequent to the final assessment order. Therefore, the said order could not be given effect while

DSV AIR & SEA PVT. LTD (SUCESSSOR TO PANALPINA WORLD TRANSPORT (INDIA PVT. LTD,MUMBAI vs. ADDL /JT/ACIT/ ITO/NFAC, DELHI

Bench: Shri Baskaran Br & Shri Kuldip Singhassessment Year: 2017-18

154 of the Act, 17. erred in incorporating the rectification order dated 24 January 2022 passed by the learned TPO in the final assessment order dated 26 February 2022 passed pursuant to the DRP directions issued on 28 January 2022, whereas separate draft order was required to be passed, which makes enhancement made pursuant to rectification order

ACIT (CIR.) - 6(1)(2), MUMBAI vs. BHANDAR POWER LTD., MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2013-14 Assistant Commissioner Of Bhandar Power Ltd. Income Tax, 14Th Floor, Essar House, Circle 6(1)(2), 11, K. K. Marg, Mahalaxmi, Vs. Mumbai Mumbai - 400034 (Pan: Aaacb6693B) (Appellant) (Respondent) Present For: Assessee : Shri Vijay Mehta, Fca & Shri Tarang Mehta, Advocate Revenue : Shri Satyaprakash R. Singh, Cit Dr Date Of Hearing : 29.07.2025 Date Of Pronouncement : 13.10.2025 O R D E R Per Girish Agrawal: This Appeal Filed By The Revenue Is Against The Order Of Ld. Cit(A), Delhi, Vide Order Dated 25.01.2018 Passed Against The Assessment Order By Ito 6(1)(4), Mumbai, U/S. 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”), Dated 20.12.2016, For Assessment Year 2013-14. 2. Grounds Taken By The Revenue Are Reproduced As Under: 1. On The Facts & In The Circumstances Of The Case & In Law, The Cit(A) Is Not Justified In Deleting The Disallowance Of Deduction U/S 80Ia Of The Income Tax Act Of Rs. 203,13,43,740/-Without Considering The Fact That The Provisions Of Section 801A(10) Is Clearly Attracted In This Case Hence The Assessee Is Not Eligible For Claiming Deduction U/S 801A Of The Income Tax Act.

rectification was made to the total income assessed u/s.143(3) assessment order by reducing the amount of Rs.17,55,83,387/- in respect of payments made to related parties as they had already been subjected to transfer pricing regulation vide order passed u/s. 92CA(3) whereby SDTs were held to be at ALP. This order u/s. 154

GOBINDRAM JAGDISH KAKWANI,MUMBAI vs. ITO INTERNATIONAL TAXATION WARD 3(1)(1), MUMBAI

In the result, appeal filed by the assessee partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Blegobindram Jagdish Kakwani Vs. Ito (It)- Ward 3(1)(1) C/O Gulabani & Co. Ca, Air India Building 507, 5Th Floor, Shree Prasad House Nariman Point 35Th Road, Off Linking Road Mumbai-400021 Bandra (West), Mumbai- 400050 Pan: Awopk5474C (Appellant) (Respondent)

Rectification order u/s. 154 of the IT Act, 1961 is attached herewith as Annexure 8. Since the agreement value is Rs. 52,50,000/- and the fair market value determined by the DVO is Rs. 55, 32,000/- and the difference is less than 10%, I plead that the valuation of Rs. 52,50,000 which is the actual sale

STRIDES SHASUN LTD,NAVI MUMBAI vs. DCIT CIR 15(3)(2), MUMBAI

Bench: Shri Kuldip Singh & Ms. Padmavathy Sassessment Year: 2011-12

Rectification of mistakes apparent on record; 13:1 The Assessing Officer has made certain mistakes apparent on record particularly with regard to the computation of total income and tax thereon. 13:2 The Appellant submits that the Assessing Officer be directed to rectify the aforesaid mistakes and correctly compute its total income and tax thereon. 14:0 Re.: General

PANASONIC LIFE SOLUTIONS INDIA PVT LTD,THANE vs. ASST CIT CC 7(2), MUMBAI

In the result, Appeal of assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm Panasonic Life Solutions India Asst. Commissioner Of Private Limited Income-Tax (Formerly Known As Anchor Central Circle 7(2) Electricals Private Limited) 3Rd Floor, B Wing, 655, 6Th Floor, Aaykar Bhavan Vs. I – Think Techno Campus, M.K. Road, Pokhran Road No.2, Thane Mumbai-400 020 (West) (Appellant) (Respondent) Pan No. Aaeca2190C Assessee By : Shri M.P. Lohia Shri Nikhil Tiwari, Ar Revenue By : Shri Manoj Kumar, Cit Dr Date Of Hearing: 08-12-2023 Date Of Pronouncement : 19.12.2023

transfer pricing adjustment accepted by the assessee under MAP as the income of assessee. Panasonic Life Solutions India Pvt. Ltd.; A.Y. 2012-13 014. We have carefully considered the rival contentions and perused the orders of the lower authorities. Admittedly, in 30th this case, the draft assessment order dated November, 2018, passed by the learned Assessing Officer contained the last

DCIT (LTU) 2, MUMBAI vs. ASIAN PAINTS LTD, MUMBAI

transfer pricing adjustment on account of the letter of comfort.\nIn view of our findings rendered in assessee's appeal on a similar issue,\nground no.1 raised in Revenue's appeal is dismissed.\n38. The issue arising in grounds no.2, 10, 11, and 12, raised in Revenue's\nappeal, pertains to allowability of expenditure under section

ASIAN PAINTS LTD,MUMBAI vs. ASST CIT LTU, MUMBAI

transfer pricing adjustment on account of the letter of comfort.\nIn view of our findings rendered in assessee's appeal on a similar issue,\nground no.1 raised in Revenue's appeal is dismissed.\n38. The issue arising in grounds no.2, 10, 11, and 12, raised in Revenue's\nappeal, pertains to allowability of expenditure under section

DCIT, BANGALORE vs. M/S THOMSON REUTERS INDIA SERVICES PVT. LTD.,, BANGALORE

In the result, appeal filed by revenue in IT(TP)

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

transfer pricing order, Ld.AO pass to the draft assessment order on 28/03/2014, by further denying:- • deduction u/s 10A in respect of making disallowance u/s 10A in respect of STPI unit hired from Reuters India Private Limited amounting to Rs. 65,13,27,497/- • making disallowance u/s 10A in respect of Titanium STPI unit amount

LARSEN & TOUBRO LTD,MUMBAI vs. DCIT RG 2(2), MUMBAI

u/s 154 dt. 04.04.2007. Copy of the rectification order is enclosed as Annexure 6.4. Further it was submitted that they erroneously mentioned Transfer Pricing Adjustment amount as Rs. 2058.35 Lacs in Annexure 1 to letter no. TAX/5094/L&T/2005-CIT(A) dt. 02.12.2009 instead of correct disallowance amount of Rs. 411.67 Lacs. The copies of contract with client and the relevant Schedule

JCIT(OSD) I/C. OF DCIT -1(3)(1), MUMBAI, MUMBAI vs. ZT SYSTEMS INDIA PRIVATE LIMITED, MUMBAI

In the result, appeal of the revenue is dismissed as per our aforesaid observations

Bench: Shri Amit Shukla & Shri Arun Khodpiaआयकर अपील सं. / Ita No.1729/Mum/2025 "नधा"रण वष" / Assessment Year :2016-17 The Jt. Commissioner Of Income Tax (Osd), I/C. Dcit-1(3)(1), Mumbai (M.H.)

rectification application of the Appellant was that "Addition has been made u/s. 2(22)(e), being deemed dividend and rightly taxed at 33.06%. Therefore, order u/s. 154 of the Act is being passed rejecting the assessee's claim." 6.8 While going through the facts of the case, it is understood the main issue under consideration is in relation to short

ORACLE FINANCIAL SERVICES SOFTWARE LTD ( FORMERLY KNWOAN AS I-FLEX SOLUTIONS LTD ),MUMBAI vs. ADDL CIT RG 8(2), MUMBAI

In the result, appeal is dismissed

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2005-06 M/S. Oracle Financial Additional Commissioner Services Software Ltd. Of Income Tax, (Formerly Known As I-Flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 Pan: Aaacc1448B (Appellant) (Respondent) Assessment Year: 2005-06 Dcit 8(2), M/S. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly Known As I-Flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400020 399, Subhash Road, Vile Parle (East), Mumbai – 400 057 Pan: Aaacc1448B (Appellant) (Respondent)

Rectification Order u/s. 155(10) in respect of non-realization of export sale proceeds resulting into allowance of exemption u/s.. 10 A without appreciating the fact that sub-section 10 section 155 has been omitted by the Direct Taxes Law (Amendment Act, 1987 w.e.f. 01.04.1992. ITA No.4489/M/2010 & ITA No.5079/M/2010 4 M/s. Oracle Financial Services Software