ACCENTURE SERVICES P.LTD,MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

D E R PER SAKTIJITDEY, J.M. The aforesaid appeal by the assessee is directed against assessment order dated 29th October 2010, passed under section 143(3) r/w 144C of the Income Tax Act, 1961 (for short “the Act”) for the assessment year 2008–09, in pursuance to the directions of the Dispute Resolution Panel–I (DRP), Mumbai. 2. Brief facts

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

17,93,000/- on account of interest swap transactions entered by it with Standard Chartered Bank in order to hedge its increasing interest cost. The Assessing Officer show- caused the assessee to explain why the same be not treated as a speculation loss since it arose from a speculative transaction covered within the meaning of section 43(5

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

D E R PER SAKTIJIT DEY. J.M. These are two sets of cross appeals arising out of the final assessment orders passed under section 143(3) r/w section 144C(13) of the Income Tax Act, 1961 (for short "the Act") pursuant to the directions of the Dispute Resolution Panel–I (DRP), Mumbai, pertaining to the assessment years

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

d employees contribution to PF u/s 36(1)(viia) of the Act, for delayed payment of employees provident fund contribution to the respective fund. Similarly, the AO has also made addition on account of disallowance of other miscellaneous expenses to the tune of Rs.2,15,229. 5. The assessee has filed objections before the Ld.DRP-Mumbai against draft assessment order

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

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

d) transactions include a number of closely linked transactions. Therefore, it is clear that if the transactions are closely linked transactions they should be benchmark together. Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 021. OECD transfer pricing guidelines for multinational enterprises and tax administration January 2022 in paragraph number 3.9 to 3.12 deals with the valuation of taxpayer

JSW ENERGY LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (TRANSFER PRICING) 2(3)(1), MUMBAI

In the result, the appeal is allowed

Bench: Us Is A Public Company Engaged In The Business Of Generation Of Power & Operation & Maintenance Of The Power Plants, As Also Other Allied Activities. During The Course Of Its Assessment Proceedings, The Assessing Officer Made A Reference Under Section 92Ca(1), For Determination Of The Arm‟S Length Price Of The International Transactions & Specified Domestic Transaction Entered Into By The Assessee With Its Associated Enterprises (Aes), To The Deputy Commissioner Of Income Tax, Assessment Year 2014-15 Page 2 Of 17

D. There was no application of mind on part of Transfer Pricing Officer (para 20 of written submission). E. It is not recorded in the assessment order that penalty proceedings under section 271G is separately initiated (Para 22 of written submission). 8. The Transfer Pricing Officer in order of penalty mention regarding compliance as under: 6.3 Further, the TPO issued

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

D E R PER SAKTIJIT DEY. J.M. This bunch consists of a set of cross appeals pertaining to the assessment year 2009–10 and an appeal by the assessee for the assessment year 2010–11. These appeals arise out of final assessment orders passed under section 143(3) r/w section 144C(13) of the Income Tax Act, 1961 (for short

M/S. MERCATOR LTD,MUMBAI vs. THE DY CIT 5(2), MUMBAI

In the result, the appeal filed by the revenue and CO by the asssessee are dismissed and the asseessee appeal is allowed for statistical purposes

Bench: Shri Baskaran Br & Shri Pavan Kumar Gadaleita No. 7278/Mum/2017 (A.Y: 2010-11) & Co No. 21/Mum/2019 (2010-11) (Arising Out Of Ita No. 29/Mum/2018) Mercator Ltd Vs. Dcit 3Rd Floor, Mittal Tower- Range 5(2) B Wing, Nariman Point Aayakar Bhavan, Mk Mumbai- 400021. Road, Mumbai-400020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacm5007A Appellant .. Respondent Dy. Cit Vs. Mercator Lines Ltd Range 5(2)(2), Rno.571 3Rd Floor, Mittal Tower- Aayakar Bhavan, Mk B Wing, Nariman Point Road, Mumbai – 400 021. Mumbai - 400020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacm5007A Appellant .. Respondent Assessee By : Mr.Nikhil Tiwari.Ar Revenue By : Mr.Krishnakumarmishra.Dr Date Of Hearing 30.11.2022 Date Of Pronouncement 22.12.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: 29/Mum/2018 & Co No. 21/Mum/2019 M/S. Mercator Ltd, Mumbai. The Cross Appeal Is Filed By The Assessee & The Revenue Against The Order Of The Commissioner Of Income Tax (Appeals) (Cit(A))-57, Mumbai Passed U/S 250 Of The Act & The Assessee Has Filed The Cross Objection(Co) In The Revenue Appeal.

D E R PER PAVAN KUMAR GADALE JM: 29/Mum/2018 & CO No. 21/Mum/2019 M/s. Mercator Ltd, Mumbai. The cross appeal is filed by the assessee and the revenue against the order of the Commissioner of Income Tax (Appeals) (CIT(A))-57, Mumbai passed u/s 250 of the Act and the assessee has filed the cross objection(CO) in the revenue appeal

DCIT CENT CIR. 8(1), MUMBAI vs. KUNAL GOVIND KATARIA, MUMBAI

Bench: Shri G. Manjunatha & Shri Ravish Soodkunal Govind Kataria Vs. Dcit,Cc-8(1) 2/B, Cenced Apartments Aaykar Bhawan Nr.Bajaj Park, Ambedkar M.K.Road Road, Bandra(West) Mumbai-400 020 Mumbai-400 050 Pan/Gir No.Aodpk3994G (Appellant) .. (Respondent)

17 of 2013),]] shall not be deemed to be a speculative transaction. [Explanation 1 I—For the purposes of[clause (d)], the expressions— (i) "eligible transaction" means any transaction, — • (A) carried out electronically on screen-based ^sterns through a stock broker or sub-broker or such other intermediary registered under section 1? of the Securities and Exchange Board of India