VIACOM 18 MEDIA P.LTD,MUMBAI vs. ADDL CIT 11(1), MUMBAI

In the result, assessee‟s appeal for A

Bench: Shri C.N. Prasad & Shri S. Rifaur Rahman

section 40(a)(ia) of the Act at ` 5,68,97,341. 144. The assessee is engaged in the business of broadcasting and telecasting of television channels. Accordingly, it incurs up–linking charges in connection with its broadcasting business. For the assessment year 2009-10, the assessee paid ` 5,68,97,341, towards up–linking fees to Television Eighteen India

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI vs. CIT (TRANSFER PRICING)-4, MUMBAI

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI vs. CIT (TRANSFER PRICING)-4, MUMBAI

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI CITY vs. CIT (TRANSFER PRICING)-4, MUMBAI CITY

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI CITY vs. CIT (TRANSFER PRICING)-4, MUMBAI CITY

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

THE ACIT RG 10(1), MUMBAI vs. M/S. NETAFIM IRRIGATION INDIA P. LTD, MUMBAI

In the result, appeals are dismissed

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

147 ITD 487, (Mum.); and iv) Mondelez India Foods Pvt. Ltd. v/s ACIT, [2016] 70 taxmann.com 112. 12. Without prejudice to his submission that the Transfer Pricing Officer has not applied CUP, he submitted, for benchmarking the payment of royalty CUP is not the most appropriate method. He submitted, if the Transfer Pricing Officer was of the view that

JAY MA DURGA BUILDTECH P. LTD,MUMBAI vs. DCIT CEN CIR 7(3), MUMBAI

In the result, the appeal of assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Jay Maa Durga Buildtech The Deputy Commissioner Private Limited (Merged With Of Income Tax, Cc-7(3), Lodha Construction Private Room No. 655, Aayakar Limited) Bhavan, M.K. Road, Vs. 412, Floor-4, 17G Vardhaman Mumbai-400 020 Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai-400 001 Appellant .. Respondent Pan No. Aabcj7826P

transfer pricing audit report as per the provisions of Section 92E. Clause (ba) of Explanation 2 to Section 147 provides

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

section 37(1) of the Act. 28. Before we proceed further, let us understand the Lease transaction and its recording in the books as per Accounting Standard, the leases are classified as Finance Lease and Operating Lease. As per the accounting standards a lease is classified as Finance Lease if the lessor transfers substantially all the risks and rewards incidental

M/S. SUMER BUILDERS PRIVATE LIMITED,,MUMBAI vs. DCIT-CENTRAL CIRCLE-5(3),, MUMBAI

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

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2011-12 M/S. Sumer Builders Pvt. The Dy. Commissioner Of Ltd., Income Tax, 220, Commerce House, Central Circle – 5(3), 140, Nagindas Master (Erstwhile The Assistant Road, Commissioner Of Income Vs. Fort, Mumbai – 400 023 Tax, Central Circle-36, Pan: Aaacs7947P Mumbai), 1906, 19Th Floor, Air India Building, Nariman Point, Mumbai - 400021 (Appellant) (Respondent) Present For: Assessee By : Shri Nishit Gandhi, A.R. Revenue By : Shri T.S. Khalsa, D.R. Date Of Hearing : 25.11.2020 Date Of Pronouncement : 08.01.2021 O R D E R

transfer of shares in his return of income for assessment. As such income to the tune o Rs.2,02,10,000/- (204100000 sale price - 100000 cost price) has thus escaped assessment for the A.Y. 2006-07." In view of the above, we reject the contention of the learned D.R. that no incriminating documents relating to the assessee were found during

BHAVANI GEMS P. LTD.,MUMBAI vs. PR. CIT -5, MUMBAI

Accordingly, appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Bhavani Gems Private Limited The Pr. Commissioner Of Income Dw–1370, G–Block West Core, Tax–5, Room No. 515, 5Th Floor, Bharat Diamond Bourse, Bandra Aayakar Bhavan, M.K. Road, Vs. Kurla Complex, Bandra (East), Mumbai–400 020 Mumbai–400 051 (Appellant) (Respondent) Pan No. Aaecb9471D

Section 263 applies because here the learned assessing officer has passed the order in accordance with instructions issued by the board. No evidences are placed/referred in the order of the learned PCIT about any prior transfer pricing adjustment in the case of the assessee or any action of survey search and seizure. The reference of form 3CEB is made

AEGIS LTD,MUMBAI vs. DCIT RG 5(1), MUMBAI

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

Bench: Shri G.S.Pannu & Shri Sandeep Gosainaegis Limited, Essar Techno Park, Old Swan Mill Compound, Lbs Marg, Kurla (W), Mumbai 400 070 Pan:Aaace 8354Q ...... Appellant

transfer pricing Aegis Limited ITA No.1213/M/2014 33 adjustment made by the TPO on this account has been deleted. As already held above, such a recharacterization of transaction of subscription of preference shares into advancing of unsecured loans as done by the TPO is not correct, because the actual transactions cannot be disregarded or substituted for some other transaction other then

DCIT CIR 6(1), MUMBAI vs. AEGIS LTD, MUMBAI

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

Bench: Shri G.S.Pannu & Shri Sandeep Gosainaegis Limited, Essar Techno Park, Old Swan Mill Compound, Lbs Marg, Kurla (W), Mumbai 400 070 Pan:Aaace 8354Q ...... Appellant

transfer pricing Aegis Limited ITA No.1213/M/2014 33 adjustment made by the TPO on this account has been deleted. As already held above, such a recharacterization of transaction of subscription of preference shares into advancing of unsecured loans as done by the TPO is not correct, because the actual transactions cannot be disregarded or substituted for some other transaction other then

TOPSGRUP ELECTRONICS SYSTEMS LTD,MUMBAI vs. ITO WD 8(3)(3), MUMBAI

In the result, the assessee’s appeal for assessment year 2009-10 is allowed as indicated above

Bench: Shri Jason P. Boaz & Shri Amit Shuklam/S. Topsgrup Electronic Systems Income Tax Officer-8(3)(3) Ltd. (Previsously Tops Sequipment Ltd.) Àayakar Bhavan, M.K. Road 5, Royal Palms Golf & Country Club Vs. Mumbai 400020 Aarey Milk Colony, Goregaon (E) Mumbai 400065 Pan - Aaact3291K Appellant Respondent

transfer allotment there is scope pricing provisions to refund the share were not application money (as in applicable to such the case of loan). In the transaction assessee’s case, the investment is in share capital which was recorded so in the books of both the assessee and the investee company, therefore making it non- refundable. In fact, the case

DCIT 8(2), MUMBAI vs. PATEL ENGINEERING LTD, MUMBAI

Appeal of the Revenue is dismissed

Bench: Shri G.S.Pannu & Shri Ravish Soodthe Acit, Cen.Cir.25, R.No.404, 4Th Floor, Aaykar Bhavan,M.K.Road, Mumbai 400 020 ...... Appellant Vs. M/S. Patel Engineering Ltd. Patel Estate, S.V.Road, Jogeshwari (West), Mumbai 400 058 Pan: Aaacp 2567L .... Respondent Appellant By : Shri N.Padmanabhan Respondent By : Shri Mayur Kishnadwala Date Of Hearing : 25/08/2016 Date Of Pronouncement : 13/01/2017

section 144C(3) r.w.s. 147 of the Income Tax Act, 1961 (in short ‘the Act’) dated 02/02/2011. 2. In this appeal the Revenue has raised the following Ground of appeal:- 2 “a. On the facts and circumstances of the case and in law, the Ld.CIT(A) erred in holding that adjustment arrived at by the Transfer Pricing

M/S. NATUREX INDIA PVT. LTD,MUMBAI vs. NFAC, DELHI DCIT-CIR 2(3) (1), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Vikas Awasthy & Shri Gagan Goyalm/S. Naturex India Pvt. Ltd. 502, 5Th Floor, Akruti Centre Point, Midc Central Road, Andheri (East), Chakala Midc S.O. Mumbai-400093 Pan: Aabcv0883A ..... Appellant Vs. Nfac, Delhi/Dcit Cir. 2(3) (1) Aayakar Bhavan, M. K. Road, Mumbai- 400 020 ..... Respondent

Transfer Pricing Officer during the course of the proceeding before him, the provisions of this Chapter shall apply as if such transaction is an international transaction referred to him under sub- section (1).] [(2C) nothing contained in sub-section (2B) shall empower the Assessing Officer either to assess or reassess under section 147

DAMJI J GALA,KHANDILKAR ROAD vs. ITO 19(1)(4), TARDEO ROAD

In the result the appeal filed by the assessee stands partly\nallowed

147\nof the I.T. Act\".\nIt is well established in law that assessment can be re-opened on\nthe basis of information received from the department's sources. The\ninformation collected shows that you have sold the shop for consideration\nof Rs. 45,00,000/-, whereas the market value of the same property was\nRs. 83,02,221/-.Since

RED HAT INDIA PRIVATE LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX -6, MUMBAI

In the result, the appeal filed by the assessee is\nallowed

transfer pricing adjustment. Subsequently, reassessment proceedings were initiated under section 147, and a reference was made to the Transfer Pricing

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

section 14A regardless of whether they are direct or indirect, fixed or variable and managerial or financial in accordance with law. It is further evident that deduction in respect of expenditure incurred by the assessee in relation to exempt income and taxable income has to be determined as per mechanism laid down in section 14A and in accordance with

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(3)(1), MUMBAI, MUMBAI vs. TMF HOLDINGS LIMITED, MUMBAI

In the result, the appeal of the revenue bearing ITA No

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhrideputy Commissioner Of Vs Tmf Holdings Limited 14, 4Th Floor, Sir H C Dinshaw Income Tax, Circle 1(3)(1), Mumbai Building, 16, Horniman Circle, Fort, Room No.535, 5Th Floor, Aaykar Mumbai-400 001 Bhavan, M.K. Road, Mumbai- Pan: Aacct4644A 400 020 Appellant Respondent

price. This was an event which took place subsequent to the assessment year in question though it may be income for 10 ITA 2983/Mum /2025 CO 132/Mum/2025 TMF Limited the assessment year. As we have observed above, all relevant facts were duly within the knowledge of the assessing officer. The assessing officer knew who were the entities who had subiscribed