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.

section 153 is the outer time limit for passing the final assessment order and hence, the final assessment order dated 2 April 2014 is time barred and liable to be quashed. 2. At the time of hearing, the Ld.AR has submitted that the grounds of appeal no. 1 to 24 pertains to transfer pricing issues and ground

SOLAR TURBINES INDIA P.LTD,MUMBAI vs. DCIT 15(3)(2), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Rajendra & Shri Saktijit Deyआयकर अपीऱ सं. / Ita No. 1075/Mum./2016 (निर्धारण वषा / Assessment Year : 2011–12) Solar Turbines India Pvt. Ltd. (Formerly Known As Turbomach India P. Ltd.), 401, 402, 403, 4Th Floor ……………. Appellant Powai Plaza, Hiranandani Business Park Powai, Mumbai 400 076 Pan – Aabct7422R V/S Dy. Commissioner Of Income Tax Circle–15(3)(2), Aayakar Bhawan ……………. Respondent 101, M.K. Road, Mumbai 400 020 निर्धाररती की ओर से / Assessee By : Shri Arvind Sonde A/W Shri Ketan Ved रधजस्व की ओर से / Revenue By : Shri N.K. Chand सुिवधई की तधरीख / आदेश घोषणध की तधरीख / Date Of Hearing – 05.10.2016 Date Of Order – 02.01.2017 आदेश / Order शक्तिजीि दे, न्याययक सदस्य के द्वारा / Per Saktijit Dey, J.M.

Transfer Pricing Officer erred in not sharing complete details/ information collated under section 133(6) of the Income-tax Act, 1961 ('the Act') in respect of contracts between associated enterprise and third parties and on the basis this information obtained under section 133(6) erred in concluding that the Assessee is acting as an agent on behalf of its associated

PUBLICS COMMUNICATIONS P.LTD,MUMBAI vs. DCIT CIR 6(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm

Transfer Pricing Officer in this regard is misconceived, erroneous and incorrect. 3. Re : Disallowance of depreciation on goodwill: 3.1 The learned DCIT erred in disallowing depreciation on goodwill of ₹ 11,73,198 claimed by the Appellant under section 32(1)(ii) of the Act. 3.2 The learned DCIT erred in observing that once the asset is adjusted and removed from

PUBLICIS COMMUNICATIONS P. LTD,MUMBAI vs. DCIT CIR 7(3)(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm

Transfer Pricing Officer in this regard is misconceived, erroneous and incorrect. 3. Re : Disallowance of depreciation on goodwill: 3.1 The learned DCIT erred in disallowing depreciation on goodwill of ₹ 11,73,198 claimed by the Appellant under section 32(1)(ii) of the Act. 3.2 The learned DCIT erred in observing that once the asset is adjusted and removed from

PUBLICIS COMMUNICATIONS P.LTD,MUMBAI vs. DCIT CIR 7(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm

Transfer Pricing Officer in this regard is misconceived, erroneous and incorrect. 3. Re : Disallowance of depreciation on goodwill: 3.1 The learned DCIT erred in disallowing depreciation on goodwill of ₹ 11,73,198 claimed by the Appellant under section 32(1)(ii) of the Act. 3.2 The learned DCIT erred in observing that once the asset is adjusted and removed from

TIMES INFOTAINMENT MEDIA LTD,MUMBAI vs. ASST CIT RG 1(3), MUMBAI

In the result, all the three appeal are allowed in the terms indicated above

transfer pricing regulations cannot be applicable to the said transaction. Transaction akin to parent support/ stewardship activity 4. erred in not appreciating the fact that the alleged loan was given to the AE for the purpose of acquiring a controlling stake in company outside India, which was in the same business of the Appellant, and hence the transaction was akin

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

In the result, appeals filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

transfer pricing matters made by the learned AO/TPO and upheld by the Hon'ble DRP in respect of data processing and software services be deleted. ITA No.2047/Mum/2014 & ITA No.1495/Mum/2015 Franklin Templeton International Services (India) P. Ltd. Ground 2 - Penalty Proceedings under Section 271(1)(c) of the Act The said ground is premature at this stage. 2.1. On the facts

M/S. PFIZER LTD.,MUMBAI vs. ACIT RG. - 8(2), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri D. Karunakara Rao & Shri Saktijit Dey

Transfer Pricing Officer with regard to selection of most appropriate method. Pfizer Limited 28 35. In ground no.7, the assessee has challenged disallowance of depreciation claimed on assets of Ankleshwar plant. 36. Briefly stated the facts are, in the course of assessment proceedings, the Assessing Officer noticed that assessee has claimed depreciation on assets of Ankleshwar plant which has closed

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

Transfer Pricing Adjustment of INR 93,12,637/- pertaining to Reimbursement of Expenses of salary and related cost on deputation of personnel in India. (1) Ground No. 8: Levy of interest under Section 234D

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

price at which the shares are issued to the employees in order to compensate the payout obligation which might arise on ESOP shares either at buyback or at liquidation. 9.10 Allowability of ESOP expense in the income Tax Act- There is no specific section under which ESOP expenditure is allowable under the Income Tax Act 1961 ('Act). The only provision

STRIDES ARCOLAB LTD,NAVI MUMBAI vs. DCIT CIR 10(3),

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2877/Mum/2014 (निर्धारणवर्ा / Assessment Year: 2009-10) Strides Shasun Limited Dcit Cir. 15(3)(2) (Formerly Known As R. No. 451, 4Th Floor, Strides Arcolab Limited) बिधम/ Aayakar Bhavan, M. K. 201, Devavrata, Sector 17, Road, Mumbai-400 020 Vs. Vashi, Navi Mumbai – 400 703 स्थायीलेखासं./जीआइआरसं./ Pan No. Aadcs8104P (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Percy Pardiwala/ Shri Ketan Ved /Shri Ninad Patade, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Ms. Vatsalaa Jha, Ld. Dr सुनवाईकीतारीख/ : 18.01.2023 Date Of Hearing घोषणाकीतारीख / : 28.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla : The Aforesaid Appeal Has Been Filed By Assessee Against The Order Dated 26.02.2014 Passed U/S 143(3) R.W.S. 144C(13) In 2

234D of the Act. 15. Credit for TDS considered short by Rs. 45,06,609/- 16. Credit for tax paid on self-assessment not granted. 3. The assessee vide letter dated 9th June 2022 has raised additional grounds that the impugned transfer pricing order dated 30th January 2013 passed u/s 92CA(3) is barred by limitation and hence

VIDEOCON OIL VENTURES LTD,MUMBAI vs. DCIT CIR 3(3)(2), MUMBAI

Bench: Shri R. C. Sharma, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 6630/Mum/2016, (निर्धारणवर्ा / Assessment Year: 2012-13)

Transfer Pricing officer erred in adding average spread of 262.5013PS to the Libor rate 0.905% to arrive at ALP interest rate of 3.53% without issuing any show cause notice to the 4 I.T.A. No. 6630/Mum/2016 M/s Videocon Oil Ventures Ltd. appellant and without giving opportunity of being heard, which is wrong and contrary to the facts of the case

SHELL INDIA MARKETS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(4), MUMBAI

Bench: SHRI AMIT SHUKLA, JUDICIAL MEMBER\n&\nMS. PADMAVATHY S (Accountant Member)

transfer pricing adjustments across\nmultiple operational segments, and corporate tax matters\nsuch as disallowance under section 40(a)(ia), mismatch\nbetween the tax audit report and the return of income, short\ngrant of advance tax credit, levy of interest under sections\n234B and 234D

FIRSTSOURCE SOLUTIONS LTD,MUMBAI vs. ASST CIT CIR 11(4), MUMBAI

In the result, assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Ramit Kochar

Transfer Pricing Officer without any deliberation on the issue. In view of the aforesaid, we are inclined to restore the issue to the file of the Assessing Officer for deciding afresh after considering assessee’s claim of adopting the PLI of net margin / operating revenue and also examining working of margins submitted by the assessee at Page

DOW AGROSCIENCES INDIA P.LTD,MUMBAI vs. ASST CIT RG 14(1)(2), MUMBAI

Bench: Shri Pramod Kumar & Shri Ravish Sooddow Agrosciences India Private Acit, Range-14(1)(2) Limited, 1St Floor, Block B, Room No. 460, Godrej It Park, Vs. Aayakar Bhavan, M.K. Road, Pirojshanagar, Vikhroli (W) Mumbai - 400020 Mumbai – 400079 Pan – Aaacd3812H (Appellant) (Respondent) It(Tp)A. No.203/Mum/2016 (Assessment Year: 2011-12) Dow Agrosciences India Private Dcit, Range-14(1)(1) Limited, 1St Floor, Block B, Room No. 460, Godrej It Park, Vs. Aayakar Bhavan, M.K. Road, Pirojshanagar, Vikhroli (W) Mumbai - 400020 Mumbai – 400079 Pan – Aaacd3813H (Appellant) (Respondent) It(Tp)A. No.1528/Mum/2017 (Assessment Year: 2012-13) Dow Agrosciences India Private Income Tax Officer , Range-14(1)(3) Limited, 1St Floor, Block B, Room No. 458, Godrej It Park, Vs. Aayakar Bhavan, M.K. Road, Pirojshanagar, Vikhroli (W) Mumbai - 400020 Mumbai – 400079 Pan – Aaacd3813H (Appellant) (Respondent)

234D of the Act of Rs.10,93,282. Initiation of penalty proceedings under section 271(1)(c) of the Act 28. erred in initiating the penalty proceedings under section 274 read with section 271(1)(c) of the Act. The Appellant craves leave to add, alter, amend, delete or withdraw any or all of the grounds of appeal

TH BOSTON CONSULTING GROUP (INDIA) P. LTD,MUMBAI vs. DCIT CIR 3(3)(2), MUMBAI

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

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Blethe Boston Consulting Group (India) V. Dcit – Circle - 3(3)(2) Private Limited Aayakar Bhavan, M.K. Road 14Th Floor, Nariman Bhavan Mumbai - 400020 227, Nariman Point Mumbai - 400021 Pan: Aabcb3524G (Appellant) (Respondent) Assessee Represented By : Shri J.D. Mistri, Shri Pratik Shah & Ms. Riddhi Maru Department Represented By : Shri Udoal Raj Singh

Transfer Pricing 4(2) ('the learned TPO'), under the directions of the Hon'ble Dispute Resolution Panel - 2 ('the Hon'ble DRP'), erred in determining the arm's length price of the Appellant's international transaction of provision of management consultancy services at Rs. 30,91,74,079 instead of Rs. 23,79,44,777 as determined by the Appellant

ASST CIT CIR 2(2)(1), MUMBAI vs. THE INDIAN HOTELS COMPANIES LTD, MUMBAI

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

transfer pricing adjustments whereas Ground No. 7 to 12 are directed against the corporate tax additions/disallowances. Ground No. 13 pertains to computation of Dividend Distribution Tax. Ground No. 14 pertains to levy of excess interest under Section 234D

THE INDIAN HOTELS COMPANY LTD,MUMBAI vs. ASST CIT CIR 2(2)(1), MUMBAI

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

transfer pricing adjustments whereas Ground No. 7 to 12 are directed against the corporate tax additions/disallowances. Ground No. 13 pertains to computation of Dividend Distribution Tax. Ground No. 14 pertains to levy of excess interest under Section 234D