GOLDMAN SACHS (INDIA) SECURITIES PVT LTD,MUMBAI vs. ADDL.C.I.T. RG.3(1), MUMBAI

In the result, appeal stands partly allowed

Bench: Shri Saktijit Dey & Shri Ashwani Taneja

section 10A of the Act. 8. Without prejudice to the above ground, the learned AU erred in reducing the telecommunication charges only from the export turnover and not from both, i.e total turnover and export turnover, in computing the deduction u/s 10A of the Act. 9. The Appellant craves leave to add, alter, vary, omit, substitute or amend

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

38 months\n(December 2010 to January 2014).\n6.3. The AO erred in facts and in law in not taking into account that\nrefund of Rs. 55,17,230 pertaining to AY 2009-10 was adjusted on 4\nDecember 2010 against demand of AY 2006-07 and interest under\nsection 234D would arise from 4 December

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

10 as provided by the Transfer Pricing Officer is also placed in the paper book filed before us. On a perusal of the said information, it is very much clear that the financial result for the financial year 2008– 09 corresponding to the financial year followed by the assessee was very much available with the Transfer Pricing Officer. Therefore, there

FIRMENICH AROMATICS (INDIA) P. LTD,MUMBAI vs. ACIT 9(3)(1), MUMBAI

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

Bench: Shri G Manjunatha () & Shri Ravish Sood () Firmenich Aromatics (India) Vs Acit-9(3)(1), Mumbai Pvt Ltd, 9Th Floor, Arena Space, Cts 20, New Shyam Nagar Road, Behind Majas Bus Depot, Jogeshwari (E), Mumbai. Pan : Aaacf1621M Appellant Respondednt

Transfer Pricing (*TP') adjustment in relation to export of finished goods 1.1. On the facts and circumstances of the case, and in law, the Hon'ble DRP has erred in upholding the action of the Ld. AO/TPO in determining the Arms' Length Price ('ALP') of the international transaction of export of finished goods at Rs. 10,35,77,048 instead

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

38,15,254, as against the price charged by the assessee at ` 32,52,031. The resultant short fall of ` 5,85,288, was treated as the adjustment to the arm's length price. The aforesaid adjustment proposed by the Transfer Pricing Officer was added back in the draft assessment order. 45. Though, the assessee raised objections before learned

INCOME TAX OFFICER, MUMBAI vs. PRITI NILESH JAIN DAGA, MUMBAI

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

transfer of long term securities (Illustrations) Assessment year 2014-15 Assessee filed its return for relevant year - Subsequently, pursuant to a survey assessee filed revised return and claimed exemption in respect of long-term capital gains on shares under section 10(38) - Assessing Officer rejected assessee's plea and made additions under sections 68 and 69 by relying on statements

PRITI NILESH JAIN DAGA ,MUMBAI vs. INCOME TAX OFFICER 19(2)(4), MUMBAI

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

transfer of long term securities (Illustrations) Assessment year 2014-15 Assessee filed its return for relevant year - Subsequently, pursuant to a survey assessee filed revised return and claimed exemption in respect of long-term capital gains on shares under section 10(38) - Assessing Officer rejected assessee's plea and made additions under sections 68 and 69 by relying on statements

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income tax (Appeals). He passed an order on 11th February 2015. The learned CIT (A) held that; i. With respect to the transfer pricing adjustment

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

Transfer Pricing Officer is based on the fees charged by the banks. Quite clearly, the aforesaid approach of the income-tax authorities is inconsistent with the judgment of the Hon'ble Bombay High Court in the case of Everest Kanto Cylinders Ltd.(supra). As per Hon'ble Bombay High Court, the instance of a commercial bank issuing bank guarantee