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

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

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

Transfer Pricing Officer certainly cannot determine the arm's length price on ad–hoc / estimation basis. Our reasoning in paragraph 11 to 15 will equally apply to this issue also. Accordingly, we delete the adjustment made to the arm's length price of payment made towards availing information system services from AE. This ground is allowed. 22. Grounds no.3

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

2. 66.00% Edelweiss Capital Ltd. 3. 13.88% IDC India Ltd. 4. 184.91% L&T Capital Co. Ltd. 5. 6.51% SERI Capital Markets Ltd. 6. Sumedha Fiscal Service Ltd. 48.84% 7. (segmental) Keynote Corporate Services Ltd. 209.19% 8. (segmental) 105.10% Arithmetic mean 8. Applying the arithmetic mean of 105.10%, the Transfer Pricing Officer worked out the arm's length price

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

Transfer Pricing Officer has classified the income received under IPSA agreement to be of the nature of ITES and has also benchmarked it as such, the Assessing Officer cannot take a contrary view by stating that it is not in the nature of ITES only for disallowing assessee’s claim of deduction under section 10A of the Act. The Department

UTILITY SUPPLY PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 8(4) MUMBAI, MUMBAI

In the result, the appeal filed by the Assessee is allowed

15) of section 155 shall, as\nfar as may be, apply in relation to the stamp duty value of\nsuch property for the purpose of sub-clause (b) as they\napply for valuation of capital asset under those sections:\nProvided further that this clause shall not apply to any sum\nof money or any property received-\na) from any relative

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

2,81,17,008.\nThe Appellant prays that the AO be directed to grant relief in\nrespect of levy of interest under section 234B of the Act, in\nconsequence to relief granted in respect of the aforesaid grounds\nof appeal.\nGround 6- Levy of interest under section 234D of the Act\n6.1. On the facts and in the circumstances

RAMESH JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

15 Ramesh Jaisinghani Offer for Sale prior to such listing. The Explanatory Memorandum accompanying the amendment, he pointed out, candidly acknowledged that “a lacuna has arisen in computation of cost of acquisition under clause (ac) of sub- section (2) of section 55 in the case of equity shares transferred under OFS as part of IPO process.” This legislative confession, according

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. ITO (E) 2(1), MUMBAI

In the result, all the appeals of assessee are allowed for statistical purposes

transferred directly or indirectly. Looking to its activities of general public utility, it was registered u/s.12A on 07/06/1994 and it continues to enjoy such registration during the years under consideration. It has also been informed that assessee’s application for registration under the amended provisions of Section 12AB

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. ASST DIT I(1), MUMBAI

In the result, all the appeals of assessee are allowed for statistical purposes

transferred directly or indirectly. Looking to its activities of general public utility, it was registered u/s.12A on 07/06/1994 and it continues to enjoy such registration during the years under consideration. It has also been informed that assessee’s application for registration under the amended provisions of Section 12AB

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. DDIT I(1), MUMBAI

In the result, all the appeals of assessee are allowed for statistical purposes

transferred directly or indirectly. Looking to its activities of general public utility, it was registered u/s.12A on 07/06/1994 and it continues to enjoy such registration during the years under consideration. It has also been informed that assessee’s application for registration under the amended provisions of Section 12AB

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. DCIT (E) 2(1), MUMBAI

In the result, all the appeals of assessee are allowed for statistical purposes

transferred directly or indirectly. Looking to its activities of general public utility, it was registered u/s.12A on 07/06/1994 and it continues to enjoy such registration during the years under consideration. It has also been informed that assessee’s application for registration under the amended provisions of Section 12AB

MEDIA RESEARCH USERS COUNCIL,MUMBAI vs. DDIT (E) I(1), MUMBAI

In the result, all the appeals of assessee are allowed for statistical purposes

transferred directly or indirectly. Looking to its activities of general public utility, it was registered u/s.12A on 07/06/1994 and it continues to enjoy such registration during the years under consideration. It has also been informed that assessee’s application for registration under the amended provisions of Section 12AB

PANKAJ ENTERPRISES,MUMBAI vs. JT CIT RG 25(3), MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

2 and 3 of the appeal as well as raised of the appeal as well as raised by the assessee in ground No. see in ground No. 1 of its appeal. Pankaj Enterprises ITA NO. 3773, 4875 & 12. The assessee in its computation of long The assessee in its computation of long-term capital gain has term capital gain

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. PANKAJ ENTERPRISES, MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

2 and 3 of the appeal as well as raised of the appeal as well as raised by the assessee in ground No. see in ground No. 1 of its appeal. Pankaj Enterprises ITA NO. 3773, 4875 & 12. The assessee in its computation of long The assessee in its computation of long-term capital gain has term capital gain

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. PANKAJ ENTERPRISES, MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

2 and 3 of the appeal as well as raised of the appeal as well as raised by the assessee in ground No. see in ground No. 1 of its appeal. Pankaj Enterprises ITA NO. 3773, 4875 & 12. The assessee in its computation of long The assessee in its computation of long-term capital gain has term capital gain

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

2) is a separate matter. The issue is non-production when called for by Transfer Pricing Officer and for this reasonable cause is to be established. 13. The sole factual reason adduced is the appointment of CFO. The new CFO has been appointed one month prior to same. Hence the non-production of the same before Transfer Pricing Officer