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

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

Transfer pricing adjustment of ₹5,82,51,214/- in view of determination of Arm's Length Price of international transaction under Section 92CA(3) of the Act by order dated 31st October, 2018, wherein on the international transaction of buy ICICI Bank Ltd; A.Y. 2015-16 back of shares of ₹65,62,50,000/- was upwardly revised

LANXESS INDIA P.LTD,THANE vs. ASST CIT CIR 1, THANE

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2009-10 Lanxess India Private Limited, Asst. Commissioner Of Income-Tax, Lanxess House, Plot No. 162-164, Circle 1, Road No. 27, Wagle Estate, Opp. Iti Vs. 6Th Floor, Asher It Park, Road No. College, Midc, 16-Z, Wagle Industrial Estate, Thane-(West)-400604. Thane. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2009-10 Asst. Commissioner Of Income-Tax, Lanxess India Private Limited, Circle 1, Lanxess House, Plot No. 162-164, 6Th Floor, Asher It Park, Road No. 16- Vs. Road No. 27, Wagle Estate, Opp. Iti Z, Wagle Industrial Estate, College, Midc, Thane. Thane-(West)-400604 Pan No. Aaccb 3880 A Appellant Respondent

Transfer Pricing and determination of Arms Length Price. The provisions of Length Price. The provisions of Section 144C do not, thus merely do not, thus merely prescribe procedure but a prescribe procedure but a substantive exercise in assessment. substantive exercise in assessment. 25. The Supreme Court in the case of R.Sharadamma (supra) after 25. The Supreme Court in the case

ACIT CIR 1, THANE vs. LANXESS INDIA P.LTD, THANE

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2009-10 Lanxess India Private Limited, Asst. Commissioner Of Income-Tax, Lanxess House, Plot No. 162-164, Circle 1, Road No. 27, Wagle Estate, Opp. Iti Vs. 6Th Floor, Asher It Park, Road No. College, Midc, 16-Z, Wagle Industrial Estate, Thane-(West)-400604. Thane. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2009-10 Asst. Commissioner Of Income-Tax, Lanxess India Private Limited, Circle 1, Lanxess House, Plot No. 162-164, 6Th Floor, Asher It Park, Road No. 16- Vs. Road No. 27, Wagle Estate, Opp. Iti Z, Wagle Industrial Estate, College, Midc, Thane. Thane-(West)-400604 Pan No. Aaccb 3880 A Appellant Respondent

Transfer Pricing and determination of Arms Length Price. The provisions of Length Price. The provisions of Section 144C do not, thus merely do not, thus merely prescribe procedure but a prescribe procedure but a substantive exercise in assessment. substantive exercise in assessment. 25. The Supreme Court in the case of R.Sharadamma (supra) after 25. The Supreme Court in the case

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

CONCENTRIX SERVICES INDIA PRIVATE LIMITED (FORMERLY KNOWN AS MINACS PRIVATE LIMITED, MINACS LIMITED & ADITY BIRLA MINACS WORLDWIDE LIMITED ),MUMBAI vs. JOINT COMMISSIONER OF IT (OSD)10(2)(2)ASSISTANT COMMISSIONER OF INCOME TAX-9(2)(2), MUMBAI

Transfer Pricing Adjustment of account of interest on loan to Associated Enterprises to the extent sustained by the CIT(A). 16.1. Ground No. 2 raised in appeal for the Assessment Year 2012-13 by the Assessee is identical to Ground No. III raised in appeal by the Assessee for the Assessment Year 2011-12 which has been dismissed hereinabove. Both

CONCENTRIX SERVICES INDIA PRIVATE LIMITED (FORMERLY KNOWN AS MINACS PRIVATE LIMITED, MINACS LIMITED & ADITY BIRLA MINACS WORLDWIDE LIMITED ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-10(2)(2), MUMBAI

Transfer Pricing Adjustment of account of interest on loan to Associated Enterprises to the extent sustained by the CIT(A). 16.1. Ground No. 2 raised in appeal for the Assessment Year 2012-13 by the Assessee is identical to Ground No. III raised in appeal by the Assessee for the Assessment Year 2011-12 which has been dismissed hereinabove. Both

AMBICO EXPORTS AND IMPORTS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 12(1)(1), MUMBAI

In the result, appeal by the assessee is partly allowed in the terms aforesaid

Bench: Vikas Awasthy & Shri N.K.Pradhanआअसं. 6822/मुं/2017 ("न.व. 2013-14) It(Tp)A No.6822/Mum/2017(A.Y.2013-14)

Transfer Pricing Officer (TPO) has erred in making adjustment of Rs.1,68,66,580/- by holding that the assessee has entered into international transactions with its AEs. viz.- Ambico UK and Narayan UK. The TPO further erred in holding that the assessee has not maintained the documents as required u/s.92D of the Act and Rule 10B of the Income

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

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

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

HEMENDRA RAMJI VIRA,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

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

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

HEMENDRA RAMJI VIRA,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

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

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

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

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

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

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC-4(1), MUMBAI

In the result, appeals of the assessee are allowed

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

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

HEMENDRA RAMJI VIRA ,MUMBAI vs. DCIT CC 4(1), MUMBAI

In the result, appeals of the assessee are allowed

transfer under section 127, all proceedings past, pending, and prospective, shift with it, as made abundantly clear in the Explanation to that section. The officer who has lost jurisdiction becomes a persona non grata to that file; any action initiated by such an officer thereafter is bereft of legal sanctity. Consequently, as the very substratum of the reassessment, the notice

TATA MOTORS LTD,MUMBAI vs. ACIT 2(3), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.631/मुं/2013 (िन.व. 2008-09) Tata Motors Limited Bombay House, 24,Homi Mody Street, Hutama Chowk, Mumbai – 400001. Pan: Aaact-2727-Q ...... अपीलाथ"/Appellant बनाम Vs. The Addl. Commissioner Of Income Tax Circle -2(3), Mumbai. Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ....."ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri J.D.Mistry, Sr.Advocate With Shri Nikhil Tiwari,Advocate "ितवादी "ारा/Respondent By : Ms. Vatsala Jha, Cit-Dr & Shri Manoj Kumar Singh, Sr.Ar सुनवाई की ितिथ/ Date Of Hearing : 10/11/2023 घोषणा की ितिथ/ Date Of Pronouncement : 05/02/2024 आदेश/Order Per Vikas Awasthy, Jm:

1) to section 92A and the condition mentioned in sub-section (2) to section 92A of the Act both have to be satisfied. In support of his submissions he placed reliance on the following decisions: (i) Kaybee Pvt. Ltd., ITA No.2164/Mum/2015 decided on 28/02/2020. (ii) Veer Gems, 407 ITR 639(Guj)/ 256 Taxman 298(SC) (iii) Ambico Exports and Imports

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

1(c) which is in respect of TP adjustment of ₹.41,51,865/- on account of salary of employees deputed to the Joint Venture, IMACID, brief facts and the conclusion reached by the Transfer Pricing Officer relating to the above ground are reproduced below: - “4. Deputation of employees to AE The assessee has deputed three employees namely Mr Sanjay Agarwal

ACIT (IT)-4(2)(2), MUMBAI vs. STANDARD CHARTERED BANK LTD., MUMBAI

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

Section 256(1) of the\nIncome-tax Act, 1961:\nPage No. | 21\n\"Whether on the fact and in the circumstances of the\ncase the Appellate Tribunal was right in holding that the\nbuilding expenses of Rs. 1,62,835/- are not liable to be\ntaken into account as deductible expenditure in arriving\nat the real income of the assessee

STANDARD CHARTERED BANK,MUMBAI vs. DDIT(IT) 2 (1), MUMBAI

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

Section 256(1) of the\nIncome-tax Act, 1961:\n\"Whether on the fact and in the circumstances of the\ncase the Appellate Tribunal was right in holding that the\nbuilding expenses of Rs. 1,62,835/- are not liable to be\ntaken into account as deductible expenditure in arriving\nat the real income of the assessee for the assessment