M/S THE MAHARASHTRA STATE CO. OP BANK LTD.,MUMBAI vs. ITO-1(3)(3), MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

price realised shall be subjected to capital gain and the tax M/s The Maharashtra State Co-op. Bank Ltd. M/s The Maharashtra State Co ITA Nos. 3878 & 3916/Mum/2019 thereon had to be computed thereon had to be computed. The coordinate bench of the T coordinate bench of the Tribunal in the case of Rajasthan Petro Synthetics Ltd (2014) 49 Rajasthan

DY CIT-1(3)(2), MUMBAI vs. MAHARASHTRA STATE CO-OPERATIVE BANK LIMITED, MUMBAI

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

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

price realised shall be subjected to capital gain and the tax M/s The Maharashtra State Co-op. Bank Ltd. M/s The Maharashtra State Co ITA Nos. 3878 & 3916/Mum/2019 thereon had to be computed thereon had to be computed. The coordinate bench of the T coordinate bench of the Tribunal in the case of Rajasthan Petro Synthetics Ltd (2014) 49 Rajasthan

LANXESS INDIA P.LTD,THANE vs. DCIT CIR 1, THANE

In the result, the appeal of the assessee

Bench: Shri Om Prakash Kant () & Shri Kavitha Rajagopal () Assessment Year: 2011-12 Lanxess India Pvt. Ltd., Dy. Cit, Circle-1, Lanxess House, Plot No. Room No. 22, 6Th Floor, B A/162-164, Road No. 27, Vs. Wing Asher It Park, Road, Wagle Estate, Opp. Iti College, 16-Z, Wagle Industrial Midc, Thane (West)-400 604. Estate, Thane (West)-400604. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2011-12 Dy. Cit, Circle-1, Lanxess India Pvt. Ltd., Room No. 22, 6Th Floor, B Wing Lanxess House, Plot No. Asher It Park, Road, 16-Z, Vs. A/162-164, Road No. 27, Wagle Industrial Estate, Thane Wagle Estate, Opp. Iti (West)-400604. College, Midc, Thane (West)- 400 604. Pan No. Aaccb 3880 A Appellant Respondent

12, pursuant to the order of Ld. Dispute Resolution Panel-1, Mumbai (in short ‘the DRP’). 1, Mumbai (in short ‘the DRP’). 2. The grounds raised by the assessee are reproduced as under: The grounds raised by the assessee are reproduced as under: The grounds raised by the assessee are reproduced as under: 1. On the facts and circumstances

DCIT CIR 1, THANE vs. LAXCESS INDIA P.LTD, THANE

In the result, the appeal of the assessee

Bench: Shri Om Prakash Kant () & Shri Kavitha Rajagopal () Assessment Year: 2011-12 Lanxess India Pvt. Ltd., Dy. Cit, Circle-1, Lanxess House, Plot No. Room No. 22, 6Th Floor, B A/162-164, Road No. 27, Vs. Wing Asher It Park, Road, Wagle Estate, Opp. Iti College, 16-Z, Wagle Industrial Midc, Thane (West)-400 604. Estate, Thane (West)-400604. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2011-12 Dy. Cit, Circle-1, Lanxess India Pvt. Ltd., Room No. 22, 6Th Floor, B Wing Lanxess House, Plot No. Asher It Park, Road, 16-Z, Vs. A/162-164, Road No. 27, Wagle Industrial Estate, Thane Wagle Estate, Opp. Iti (West)-400604. College, Midc, Thane (West)- 400 604. Pan No. Aaccb 3880 A Appellant Respondent

12, pursuant to the order of Ld. Dispute Resolution Panel-1, Mumbai (in short ‘the DRP’). 1, Mumbai (in short ‘the DRP’). 2. The grounds raised by the assessee are reproduced as under: The grounds raised by the assessee are reproduced as under: The grounds raised by the assessee are reproduced as under: 1. On the facts and circumstances

ACIT - 14(2) (2), MUMBAI vs. PFIZER LTD, MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

price, the FMV has been arrived by the valuer Sri A. V. Sethi & Associates. Thus the difference between the fair value and consideration was shown as goodwill. The Assessing Officer did not accept the contention of the assessee and observed that the instead of fair value of asset based on the replacement value of the asset adopted in the valuation

PFIZER LTD,MUMBAI vs. DCIT - 14(2) (2), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

price, the FMV has been arrived by the valuer Sri A. V. Sethi & Associates. Thus the difference between the fair value and consideration was shown as goodwill. The Assessing Officer did not accept the contention of the assessee and observed that the instead of fair value of asset based on the replacement value of the asset adopted in the valuation

DCIT(IT)-2(2)(2), NARIMAN POINT vs. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD, BANDRA

12,341\nINR\n5,555\nINR (1,483)\nINR 16,413\nThe IIS is in respect of loans given to customers and such interest is of the nature\nprescribed in Rule 6EA (attached) of the Income-tax Rules. Therefore, such interest is not\ncredited to the Profit and Loss Account but credited to IIS in the Balance Sheet

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

The appeal of the assessee is allowed

Bench: Amit Shukla () & Ms. Padmavathy S. ()

section 35(1 )(iv) of the Act. 2 : 0 Re.: Credit for advance-tax granted short by Rs. 3,16,50f 152/- 2 : 1 The Assessing Officer has erred in granting credit for advance-tax short by Rs. 3,16,50,152/-.” 6. The Ld.AR submitted that the assessee has raised the additional grounds, which do not involve verification

DCIT CC 5-1, MUMBAI, MUMBAI vs. J KUMAR INFRAPROJECTS LIMITED , MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

DCIT, MUMBAI vs. J KUMAR INFRAPROJECTS LIMITED, MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

J KUMAR INFRAPROJECTS LIMITED,MUMBAI vs. THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1), MUMBAI

The Appeal of the Assessee is partly allowed and that of the department is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 65B obtained at the time of taking the document, without which, the secondary evidence pertaining to that electronic record, is inadmissible. (Page 38 to 52 of Paper Book – II; Relevant para 12-17 on page 43-45) The Hon’ble Madras High Court in the case of Saravana Selvarathnam Retails

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED -INDIA BRANCHES ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

12,341\nINR\n5,555\nINR (1,483)\nINR 16,413\nThe IIS is in respect of loans given to customers and such interest is of the nature\nprescribed in Rule 6EA (attached) of the Income-tax Rules. Therefore, such interest is not\ncredited to the Profit and Loss Account but credited to IIS in the Balance Sheet

M/S SUPREME TREON PVT LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENRALIZED PROCESSING CENTRE. , BANGALORE

In the result, the appeal by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

transfer pricing report in Form 3CEB was filed on 18/03/2017, while the revised Form 10CCB in respect of deduction claimed under section 80-IC was filed on 14/03/2017. Accordingly, the assessee filed its revised return of income on 29/03/2017, wherein the deduction under section 80-IC of the Act was claimed at Rs. 1

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED INDIA BRANCHES ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

12,341\nINR\n5,555\nINR (1,483)\nINR 16,413\nThe IIS is in respect of loans given to customers and such interest is of the nature\nprescribed in Rule 6EA (attached) of the Income-tax Rules. Therefore, such interest is not\ncredited to the Profit and Loss Account but credited to IIS in the Balance Sheet

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED ,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

12,341\nINR\n5,555\nINR (1,483)\nINR 16,413\nThe IIS is in respect of loans given to customers and such interest is of the nature\nprescribed in Rule 6EA (attached) of the Income-tax Rules. Therefore, such interest is not\ncredited to the Profit and Loss Account but credited to IIS in the Balance Sheet

NTT INDIA PRIVATE LIMITED ,MUMBAI vs. ASSTT COMM. OF INCOME TAX-14(1)(1), MUMBAI

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

Bench: Ms. Padmavathy S & Shri Raj Kumar Chauhanntt India Private Vs. Assessment Unit/Nfac/Dcit Limited Circle 15(1)(2), 1701-1704, B Wing, One Mumbai Bkc, Level 17, G-Block, Aayakar Bhavan, Plot No. C-65, Bandra Mumbai. Kurla Complex, Bandra East, Mumbai-400 051. Pan/Gir No. Aaacd2145G (Applicant) (Respondent)

1) of the Act and thereby applied CUP method for determining the ALP. The ld. TPO held that the ALP of the services rendered by the AE to the assessee is determined at nil by applying CUP method and thereby proposed the impugned adjustment of Rs.121,94,85,623/-. The ld. DRP while disposing the objection filed by the assessee