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

71,400 and offered the same for tax.\nThe Appellant therefore prays that it be appropriately allowed the\ndeduction under section 10A/10B of the Act. Alternatively the\nAppellant prays that it be appropriately granted relief in\n assessment year 2010-11.\nGround 4 - Penalty Proceedings under Section 271(1)(c) of the Act\n4.1. On the facts

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)

price on a recognized stock exchange either as on 31 January 2018 or on the date of transfer. It made no provision for shares which were unlisted on both those dates, as was the case with the assessee‟s OFS shares. To reiterate here in this case assessee transferred 20,71,963 shares into an escrow account

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

2 and 6, being general in nature, do not require adjudication. 55. In grounds no.13 to 19, the assessee has challenged selection / rejection of certain comparables under Information Technology (IT) Service and Information Technology Enabled Services (ITES) segments. At first, we will deal with the comparables disputed under Information Technology Service segment. 56. In its transfer pricing analysis, the assessee

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

Transfer Pricing (*TP') adjustment in relation to export of finished goods 1.1. On the facts and circumstances of the case, and in law, the Hon'ble DRP has erred in upholding the action of the Ld. AO/TPO in determining the Arms' Length Price ('ALP') of the international transaction of export of finished goods at Rs. 10,35,77,048 instead

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

2 of section 115JB of the Act and therefore, same was added. 010. Accordingly, total income as per normal computation was determined at ₹71,38,54,894/- and book profit was computed at ₹177,24,08,742/- by order dated 2nd February 2012. 011. Assessee being aggrieved with the same preferred the appeal before the learned Commissioner of Income

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

section 234B and 234D of the Act. 70. Levy of interest being consequential is not required to be adjudicated at this stage. 71. In the result, appeal is partly allowed. ITA no.1754/Mum./2014 Revenue’s Appeal – A.Y. 2009–10 72. The grounds raised by the Revenue are corresponding to grounds no.1 and 2 of ITA no.990/Mum./2014. In view

VAN OORD INDIA P.LTD,MUMBAI vs. DCIT RG 5(3), MUMBAI

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

Bench: Shri. A. D. Jain & Shri Rajesh Kumar

transfer pricing provisions and the same therefore ought to be deleted. Interest under section 234B 19. On the facts and in the circumstances of the case and in law, the learned AO erred in levying interest under section 234B amounting to Rs.3,48,71,080/- Interest under section 234C 20. On the facts and in the circumstances of the case

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

Transfer Pricing Officer without proper FAR analysis, without applying any most appropriate method and without considering any comparable is not justified. In support of his submissions, the learned A.R. for the assessee placed reliance on the following decisions:– i) CIT v Lever India Exports Ltd ITA No 1306 of 2014, order dated 23.01.2017 (Bom); ii) CIT V Merck

M/S. INDIA MEDTRONICS PVT.LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(2),, BARODA

In the result, similarly the Assessee’s appeal is partly allowed

Bench: Shri Amit Shukla & Shri Gagan Goyal

Transfer Pricing Officer to delete the addition on account of excessive purchase price as it is already benchmarked once under TNMM/RPM, as under 69. However, learned Commissioner (Appeals), inadvertently dismissed the ground, whereas it was to be allowed following DRP direction. Hence, the based on the above order, adjustment on account of excessive purchase price amounting to INR 2