ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI CITY vs. CIT (TRANSFER PRICING)-4, MUMBAI CITY

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

263 of the income tax act and held that the impugned order of the learned transfer-pricing officer is erroneous insofar as it is prejudicial to the interest of the revenue. He directed the learned transfer-pricing officer to make fresh order under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI CITY vs. CIT (TRANSFER PRICING)-4, MUMBAI CITY

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

263 of the income tax act and held that the impugned order of the learned transfer-pricing officer is erroneous insofar as it is prejudicial to the interest of the revenue. He directed the learned transfer-pricing officer to make fresh order under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI vs. CIT (TRANSFER PRICING)-4, MUMBAI

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

263 of the income tax act and held that the impugned order of the learned transfer-pricing officer is erroneous insofar as it is prejudicial to the interest of the revenue. He directed the learned transfer-pricing officer to make fresh order under section

3I INFOTECH LIMITED,MUMBAI vs. PR. CIT- 15, MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm 3I Infotech Limited Pcit-15 Tower No.5, 5Th Floor, Aaykar Bhavan, 3Rd To 6Th Floors, Vs. International Infotech Park, Mumbai-400 020 Vashi, Navi Mumbai-400 703 (Appellant) (Respondent) Pan No. Aaaci5205Q Assessee By : Shri Bhupendra Karkhanis, Shri Jay Dharod, Ars Revenue By : Ms. Samruddhi Hande, Dr Date Of Hearing: 17.02.203 Date Of Pronouncement : 10.05.2023

Transfer Pricing Officer (TPO) for determination of Arm's Length Price and the reasons assigned for doing so are wrong and contrary to the facts and circumstances of the case, provisions of the Income Tax Act, 1961, and the Rules made there under. (b) The Id. Pr. Commissioner of Income Tax erred in invoking the revisionary powers under section 263

JMJ GANPATIJI MAHARAJA HOSPITALITY PVT. LTD.,MUMBAI vs. DCIT- CENTRAL CIRCLE 2(2), MUMBAI

In the result, both the appeal

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant ()

Transfer Pricing Officer, as the case may be,] shall be deemed to be erroneous in so far as it shall be deemed to be erroneous in so far as it is prejudicial to the interests of the is prejudicial to the interests of the revenue, if, in the opinion of the Principal revenue, if, in the opinion of the Principal

JMJ GANPATIJI MAHARAJA HOSPITALITY PVT. LTD.,MUMBAI vs. DCIT- CENTRAL CIRCLE 2(2), MUMBAI

In the result, both the appeal

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant ()

Transfer Pricing Officer, as the case may be,] shall be deemed to be erroneous in so far as it shall be deemed to be erroneous in so far as it is prejudicial to the interests of the is prejudicial to the interests of the revenue, if, in the opinion of the Principal revenue, if, in the opinion of the Principal

BARCLAYS BANK PLC,MUMBAI vs. CIT (INTERNATIONAL TAXATION)-RANGE-1, MUMBAI

In the result, the appeal by the assessee stands partly allowed

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company.] 18. A reading of the said section brings to the fore following:- The assessee has option to go to the DRP by filing objection before it. As per the provisions of section 144C

DCIT CIR 3(3), MUMBAI vs. SIRO CLINPHARM P.LTD, MUMBAI

In the result, appeal of the assessee is allowed

Section 92B which states that "For the removal of doubts, it is hereby clarified that (i) the expression "international transaction" shall include…….. (c) capital financing, including any type of long -term or short -term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising

SIRO CLINPHARM P. LTD,MUMBAI vs. DCIT CIR 3(3), MUMBAI

In the result, appeal of the assessee is allowed

Section 92B which states that "For the removal of doubts, it is hereby clarified that (i) the expression "international transaction" shall include…….. (c) capital financing, including any type of long -term or short -term borrowing, lending or guarantee, purchase or sale of marketable securities or any type of advance, payments or deferred payment or receivable or any other debt arising

MAHARASHTRA AIRPORT DEVELOPMENT,MUMBAI vs. PR CIT 3, MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 M/S Maharashtra Airport Pr. Cit-3, Development Company 612, 6Th Floor, बनाम/ Ltd. Aayakar Bhavan, Vs. 8Th Floor, World Trade M. K. Road, Centre, Tower No.1, Mumbai-400020 Cuffe Parade, Mumbai-400005 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aadcm9623M

transferable. It therefore follows that an exporter cannot theoretically or otherwise suffer any loss on sale of import licences as he obtains them from the Government as incentive on the basis of exports made without paying separately any price for purchasing them. Loss is caused only when a thing’s original cost exceeds its later selling price or when

THE J.K. TRUST BOMBAY,MUMBAI vs. CIT (E), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2012-13 M/S The J. K. Trust Cit (Exemption) Bombay, R. No.617, 6Th Floor, बनाम/ New Hind House, Piramal Chambers, Vs. Narottam Morrjee Marg, Lalbaug, Ballard Estate, Mumbai-400012 Mumbai-400001

transferable. It therefore follows that an exporter cannot theoretically or otherwise suffer any loss on sale of import licences as he obtains them from the Government as incentive on the basis of exports made without paying separately any price for purchasing them. Loss is caused only when a thing’s original cost exceeds its later selling price or when

BHAVANI GEMS P. LTD.,MUMBAI vs. PR. CIT -5, MUMBAI

Accordingly, appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Bhavani Gems Private Limited The Pr. Commissioner Of Income Dw–1370, G–Block West Core, Tax–5, Room No. 515, 5Th Floor, Bharat Diamond Bourse, Bandra Aayakar Bhavan, M.K. Road, Vs. Kurla Complex, Bandra (East), Mumbai–400 020 Mumbai–400 051 (Appellant) (Respondent) Pan No. Aaecb9471D

section 263 of the Act stating that as assessee has entered into several international transactions and specified domestic transactions, the Assessing Officer should have referred the matter to Transfer Pricing

TOPSGRUP ELECTRONICS SYSTEMS LTD,MUMBAI vs. ITO WD 8(3)(3), MUMBAI

In the result, the assessee’s appeal for assessment year 2009-10 is allowed as indicated above

Bench: Shri Jason P. Boaz & Shri Amit Shuklam/S. Topsgrup Electronic Systems Income Tax Officer-8(3)(3) Ltd. (Previsously Tops Sequipment Ltd.) Àayakar Bhavan, M.K. Road 5, Royal Palms Golf & Country Club Vs. Mumbai 400020 Aarey Milk Colony, Goregaon (E) Mumbai 400065 Pan - Aaact3291K Appellant Respondent

section 321 ITR 178 /186 outside India as 263 of the Act and Taxman 197 (AAR-New there is no income did not deal with Delhi), which state that arising from the the proposition that without the presence of said transaction. in the absence of income, the provisions of income, transfer transfer pricing

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

transferring pre-paid talk time and connections and accordingly the discount extended was not income earned by the distributors. 7.2. In the Draft Assessment Order, dated 31/03/2015, the Assessing Officer proposed disallowance under Section 40(a)(ia) of the Act on the upfront discount extended to the pre-paid distributors by terming the arrangement as 'Principal to Agent instead

KKR INDIA ADVISORS PVT. LTD.,MUMBAI vs. PR. CIT - CIRCLE -6, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Kkr India Advisors Private Pr. Commissioner Of Income Limited 2Nd Floor, Piramal Tower, Tax, Circle 6 515, Aaykar Bhavan, Peninsula Corporate Park, Vs. Ganpatrao Kadam Marg, Maharshi Karve Road, Lower Parel, Mumbai-400 020 Mumbai-400 013 (Appellant) (Respondent) Pan No. Aadck5826G

263 of the Act, the learned Assessing Officer on 26 June 2019 referred the international transaction to the learned Transfer Pricing Officer with direction of the learned PCIT. Consequent to that, the learned Transfer Pricing Officer passed an order under Section

BANK OF INDIA,MUMBAI vs. JT. CIT (OSD)-2(1)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri Vikas Awasthy & Shri S. Rifaur Rahman: A.Y : 2014-15

Section 263 of the Income Tax Act, 1961 (in short ‘the Act’)for assessment year 2014-15 dated 27.03.2018. 2. At the time of hearing, the ld. DR submitted that the appeal filed by the assessee involves transfer pricing

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

In the result, appeals of both, revenue and assessee are partly allowed for all the three assessment years

Bench: Shri Pawan Singh & Shri Girish Agrawal

transferred company, i.e., Tata Sons Ltd. He also pointed out to the difference in logo and trade mark as noted by ld. TPO in his order. It was thus, contended that brand of “Tata Consultancy Services” is owned by the assessee and not by Tata Sons Ltd. Thus, assessee has got its own brand value and has incorporated its valuation

RED HAT INDIA PRIVATE LIMITED ,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX -6, MUMBAI

In the result, the appeal filed by the assessee is\nallowed

Transfer Pricing Officer (TPO) under section 92CA.", "held": "The Tribunal held that the Principal Commissioner erred in assuming jurisdiction under Section 263