MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

transferred to Electricity Board - Whether in above circumstances, since assessee was not able to collect enhanced charges, necessary entries made in its books of account represented only hypothetical income and it could not be brought to tax as it did not represent income which had really accrued even though assessee-company was following mercantile system of accounting UCO Bank

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

transferred to Electricity Board - Whether in above circumstances, since assessee was not able to collect enhanced charges, necessary entries made in its books of account represented only hypothetical income and it could not be brought to tax as it did not represent income which had really accrued even though assessee-company was following mercantile system of accounting UCO Bank

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

transferred to Electricity Board - Whether in above circumstances, since assessee was not able to collect enhanced charges, necessary entries made in its books of account represented only hypothetical income and it could not be brought to tax as it did not represent income which had really accrued even though assessee-company was following mercantile system of accounting UCO Bank

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

transferred to Electricity Board - Whether in above circumstances, since assessee was not able to collect enhanced charges, necessary entries made in its books of account represented only hypothetical income and it could not be brought to tax as it did not represent income which had really accrued even though assessee-company was following mercantile system of accounting UCO Bank

MUMBAI METROPLITAN REGION DEVELOPMENT AUTHORITY,MUMBAI vs. DDIT (E) -1(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed and revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

transferred to Electricity Board - Whether in above circumstances, since assessee was not able to collect enhanced charges, necessary entries made in its books of account represented only hypothetical income and it could not be brought to tax as it did not represent income which had really accrued even though assessee-company was following mercantile system of accounting UCO Bank

DCIT CIRCLE-15 (3), MUMBAI vs. M/S RANKIN INFRASTRUCTURE PVT LTD. , MUMBAI

In the result, Ground No. 2 and 3 raised by the revenue are dismissed

Bench: Shri Amarjit Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle – 15(3)(1) V. M/S. Rankin Infrastructure Pvt. Ltd., Room No. 451, 4Th Floor Next To Classic Marble Aayakar Bhavan, M.K. Road Subash Nagar Road, Bhandup (E) Mumbai - 400020 Mumbai -400078 Pan: Aafcs5275B (Appellant) (Respondent) Assessee By : Shri Rajiv Khandelwal Department By : Shri T. Shankar

transfer deed / share certificates, copy of ITR, financials, ledger and bank statement of the company who has subscribed the share capital.  In his response, the appellant submitted on 05.10.2017 basic details of transaction together with evidences. These included following 19 M/s. Rankin Infrastructure Pvt. Ltd., Reasoning given by the learned AO to Sr. NO. object the Our rebuttal admissibility

LATE SHRI MOHAN RAJ CHHAJED (THROUGH LEGAL JEOR SHANTILAL CHHAJED),MUMBAI vs. ITO,WARD-2, PALI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2012-13 Late Shri Mohan Raj Chhajed Income Tax Officer, Ward-2, (Through Legal Heir Shantilal Pali Rajasthan-306-401. Chhajed), Vs. 601, Shilpa Apartments, C.D. Barfiwala Marg, Juhu Lane, Andheri (W), Mumbai-400058. Pan No. Aaipc 6614 N Appellant Respondent

price fluctuations prevalent in fluctuations prevalent in the Gwar commodity rather the Gwar commodity rather than transfer of profits. 8. 8. On the facts and circumstances of the case, the learned 8. On the facts and circumstances of the case, the learned 8. On the facts and circumstances of the case, the learned Commissioner of Income Tax Commissioner of Income

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

PRUDENTIAL PROCESS MANAGEMENT SERVICES INDIA P.LTD,MUMBAI vs. DCIT RG 10(3), MUMBAI

In the result, the assessee’s appeal is allowed for statistical purpose and the Revenue’s appeal and cross objection by the assessee stands dismissed

Bench: Shri Shamim Yahya, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. No. 1274/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) & Co No. 102/Mum/2014 (Arising Out Of Ita No. 2131/Mum/2014) ("नधा"रण वष" / Assessment Year: 2009-10) Prudential Process Management The Dy. Commissioner Of Income Services India Private Limited, Tax, Range-10(3), बनाम/ Prudential Centre Avenue, Aayakar Bhavan, M. K. Road, Vs. Hiranandani Business Park, Mumbai-400 020 Powai, Mumbai-400 076 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaccp 7204 Q (Assessee) (Revenue) : & आयकर अपील सं./I.T.A. No. 2131/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) The Dy. Commissioner Of Income Prudential Process Management Tax, Range-10(3), Services India Private Limited, बनाम/ Room No. 451, 4Th Floor, Prudential Centre Avenue, Vs. Aayakar Bhavan, M. K. Road, Hiranandani Business Park, Mumbai-400 020 Powai, Mumbai-400 076 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaccp 7204 Q (Revenue) : (Assessee) : Shri Percy J. Pardiwala/ Assessee By Shri Madhur Agrawal Revenue By : Shri Jayant Kumar/ Shri V. Jenardhanan सुनवाई क" तार"ख / : 21.12.2017 & 23.03.2018 Date Of Hearing घोषणा क" तार"ख / : 13.04.2018 Date Of Pronouncement

145/- as Capital Gains as per the provisions of section 50B of the Act. In this case, the TPO vide its order dated 24.01.2013 has made an upward adjustment to the arm's length price by Rs.104,03,50,000/-. In this case, the total sale consideration received by the assessee company stood at Rs.82.244 crores on which capital gain

M/S. ATUL PROJECTS INDIA P LTD,MUMBAI vs. DCIT- 9(1)(2) (NOW JURIDICTION WITH DC CC 2(4)), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

145 shall, so far as may be, apply." An analysis of this sub section indicates that, after the return is filed, this clause enables the assessing officer to complete the assessment by following the procedure like issue of notice under Sections 143(2)/142 and complete the assessment under Section 143(3). This Section does not provide for accepting

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

145 shall, so far as may be, apply." An analysis of this sub section indicates that, after the return is filed, this clause enables the assessing officer to complete the assessment by following the procedure like issue of notice under Sections 143(2)/142 and complete the assessment under Section 143(3). This Section does not provide for accepting

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

145 shall, so far as may be, apply." An analysis of this sub section indicates that, after the return is filed, this clause enables the assessing officer to complete the assessment by following the procedure like issue of notice under Sections 143(2)/142 and complete the assessment under Section 143(3). This Section does not provide for accepting

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

145 shall, so far as may be, apply." An analysis of this sub section indicates that, after the return is filed, this clause enables the assessing officer to complete the assessment by following the procedure like issue of notice under Sections 143(2)/142 and complete the assessment under Section 143(3). This Section does not provide for accepting

M/S. ATUL PROJECTS INDIA PVT LTD.,,MIMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

145 shall, so far as may be, apply." An analysis of this sub section indicates that, after the return is filed, this clause enables the assessing officer to complete the assessment by following the procedure like issue of notice under Sections 143(2)/142 and complete the assessment under Section 143(3). This Section does not provide for accepting

STANDARD CHARTERED BANK,MUMBAI vs. DDIT(IT) 2 (1), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Rahul Chaudhary, Hon'Bleorder Per S. Rifaur Rahman (Am) 1. These Cross Appeals Are Filled By The Assessee & Revenue Against Different Orders Of Learned Commissioner Of Income Tax (Appeals)-57, Mumbai (Hereinafter In Short "Ld.Cit(A)"] Dated 28.12.2018 For The A.Ys.2002-03 & 2003-04. 2. Since The Issues Raised In All The Appeals Are Identical, Therefore, For The Sake Of Convenience, These Appeals Are Clubbed, Heard & Disposed Off By This Consolidated Order. Revenue Appeals

Transfer Pricing Officer by observing that he has asked the assessee to furnish various details vide notice issued under section 142(1) of the Act including the books of accounts of Head office where such expenses have been incurred, original vouchers supporting such expenses etc.,. Assessing Officer observed that assessee has not furnished any such details and with reference

M/S EDELWISS RURAL & CORPORATE SERVICES PRIVATE LIMITED,MUMBAI vs. ACIT CENTRAL CIRCLE-1(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2016-17 M/S Edelweiss Rural & Acit Central Circle-1(2), Corporate Services Pvt. Ltd., R. No. 906, 9Th Floor, Old Vs. Edelweiss House, Off Cst Road, Cgo Building Annexe, Kalina, Santacruz (East), Maharshi Karve Road, Mumbai-400098. Churchgate, Mumbai-400020. Pan No. Aakcs 7311 R Appellant Respondent Assessee By : Mr. Jitendra Jain, Ar Revenue By : Mr. Sanjeev Kashyap, Cit-Dr : Date Of Hearing 09/03/2023 : Date Of Pronouncement ___/03/2023 Order

2) of the Act and substitute the ubstitute the ‘transacted price’ with the with the ‘market price’ unless books of accounts of the assessee unless books of accounts of the assessee are rejected invoking rejected invoking section 145(3) of the section 145(3) of the Act and profit or loss of the business is ct and profit or loss

DY.CIT -5(2)(1) , MUMBAI vs. M/S. KEC INTERNATIONAL LTD, MUMBAI

In the result appeal filed by the assessee is partly allowed and appeal of the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aacck5599H Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Assessee By : Shri Vijay Mehta, Ar Revenue By : Shri Akhtar Hussain Ansari, Dr Date Of Hearing: 07.09.2023 Date Of Pronouncement : 04.12.2023

2(3), Mumbai (the learned Transfer Pricing Officer) on 28th July, 2016. After discussion, the learned Transfer Pricing Officer made three adjustments to the Arm's Length Price of the international transaction and proposes a total adjustment of ₹28,62,73,044/-, by order under Section 92CA(3) of the Act on 30th October, 2017. 07. The learned Assessing Officer

KEC INTERNATIONAL LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX , MUMBAI

In the result appeal filed by the assessee is partly allowed and appeal of the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aacck5599H Dy. Commissioner Of Income Kec International Ltd. Tax 463, Rpg House, Circle 5(2)(1) Dr. Annie Besant Road, Vs. 5Th Floor, Aaykar Bhavan, Worli, Mumbai-400 030 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Assessee By : Shri Vijay Mehta, Ar Revenue By : Shri Akhtar Hussain Ansari, Dr Date Of Hearing: 07.09.2023 Date Of Pronouncement : 04.12.2023

2(3), Mumbai (the learned Transfer Pricing Officer) on 28th July, 2016. After discussion, the learned Transfer Pricing Officer made three adjustments to the Arm's Length Price of the international transaction and proposes a total adjustment of ₹28,62,73,044/-, by order under Section 92CA(3) of the Act on 30th October, 2017. 07. The learned Assessing Officer