SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

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 and 244A of the Act (m) Ground No. 9: Incorrect computation of Book Profits under Section 115JB of the Act (n) Ground No. 10 : Non-Grant

GENERAL ELECTRIC INTERNATIONAL INC.,GURGAON vs. DCIT, INTERNATIONAL TAXATION CIRCLE 2(3)(2), MUMBAI

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

section 271(1)(c) of the Act. 4. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) confirmed the levy of penalty u/s 271(1)(c) on account of concealment of income, without appreciating the fact as under- a) The Ld. AO has levied penalty u/s 271(1

DCIT, CC-7(1), MUMBAI vs. M/S MANEESH PHARMACEUTICALS LTD., MUMBAI

b) and (e) above. Whereas, penalty proceedings under Section 271(1)(c) of the Act were initiated for concealment of income in respect of (c) and (d) the above as per paragraph 6.3 and 7.5 of the Assessment Order. 4. Notice, dated 31.03.2016, in respect of penalty proceedings was issued under Section 274 read with Section 271(1

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ACIT(IT)-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-291)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CONNERSTONE ONDEMAND LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

CORNERSTONE ONDEMAND LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(1)(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

271(1)(c) on the same ground. Therefore our decision in AY 2015- 11 ITA 3747, 3751, 3753, 3752 and 5677/Mum/2024 Cornerstone Ondemand Limited 16 is mutatis mutandis applicable to AY 2016-17 also. Accordingly we direct the AO to delete the penalty for AY 2016-17. ITA No.3753/Mum/2024 – AY 2017-18 12. For AY 2017-18 the assessee filed

ACIT-23(1), MUMBAI, PIRAMAL CHAMBER, MUMBAI vs. PARISHI DIAMONDS, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2012-13 Acit-23(1), Parishi Diamonds, 511, 5Th Floor, Piramal Chamber, Cc2091 To Cc 2093 Tower Central Vs. Lalbaug, Parel, Wings Bharat Diamond Bourse Bandra Mumbai-400012. Kurla Complex, Bandra East, Mumbai-400051. Pan No. Aajfp 2118 B Appellant Respondent

1)(e). If due to t assessee to comply to the requirements of Rule 10(1)(e). If due to t assessee to comply to the requirements of Rule 10(1)(e). If due to the reasonable cause, the assessee could not furnish the relevant reasonable cause, the assessee could not furnish the relevant reasonable cause, the assessee could

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 ()

271(1)(c) of the Act. The Appellant prays that the penalty proceedings be dropped in the matter. Ground 3 - Levy of interest under section 234B of the Act - The said ground is consequential in nature 3.1. On the facts and in the circumstances of the case, the learned AO has erred in charging interest of Rs. 1

THERMO FISHER SCIENTIFIC INDIA PVT LTD. ,MUMBAI vs. DCIT-15(3)(1), MUMBAI

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2009-10 Thermo Fisher Scientific India Dy. Cit-15(3)(1), Pvt. Ltd., Room No. 360, Aayakar Vs. 403-404, ‘B’ Wing, Delphi, Bhavan, New Marine Lines, Hiranandani Business Park, Mumbai-400020. Mumbai-400076. Pan No. Aabct 3207 A Appellant Respondent

transfer of depreciable assets in case of amalgamation/ demerger/ of depreciable assets in case of amalgamation/ demerger/ of depreciable assets in case of amalgamation/ demerger/ succession of business under section 170 of the IT Act, succession of business under section 170 of the IT Act, succession of business under section 170 of the IT Act, whereas, in the instant 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

price at the time of grant of options) of Rs. 2.48.85,009 under section 37(1) of the Act 4. Disallowance under section 14A of the Act read with Rule 8D of the Income-tax Rules, 1962 4.1 On the facts and in the circumstances of the case, and in law, the Ld AO and Hon'ble DRP erred

ATOS INDIA PRIVATE LTD,MUMBAI vs. ACIT 14 (1) (1) , MUMBAI

In the result, the appeal filed by the assessee stands allowed on the additional grounds

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleatos India Private Limited V. Acit – 14(1)(1) Unit No. 1401, 14Th Floor Rom No. 481, 4Th Floor Supremus “E" Wing Aayakar Bhavan M.K. Road, Mumbai - 400020 I Think Techno Campus Kanjurmarg (E), Mumbai - 400042 Pan: Aaaco2461J (Appellant) (Respondent) Assessee Represented By : Ms. Chandni Shah & Ms. Riddi Maru Department Represented By : Shri Vachaspati Tripathi

271(1)(c) of the Act gets attracted in the facts of the Appellant's case.” 3. Further, assessee has raised following additional grounds: - “Ground No. 11: On the facts and in the circumstances of the case and in law, the order dated on November 2019 passed by the Transfer Pricing Officer (TPO) under section 92CA

PANASONIC LIFE SOLUTIONS INDIA PVT LTD,THANE vs. ASST CIT CC 7(2), MUMBAI

In the result, Appeal of assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm Panasonic Life Solutions India Asst. Commissioner Of Private Limited Income-Tax (Formerly Known As Anchor Central Circle 7(2) Electricals Private Limited) 3Rd Floor, B Wing, 655, 6Th Floor, Aaykar Bhavan Vs. I – Think Techno Campus, M.K. Road, Pokhran Road No.2, Thane Mumbai-400 020 (West) (Appellant) (Respondent) Pan No. Aaeca2190C Assessee By : Shri M.P. Lohia Shri Nikhil Tiwari, Ar Revenue By : Shri Manoj Kumar, Cit Dr Date Of Hearing: 08-12-2023 Date Of Pronouncement : 19.12.2023

Transfer Pricing Officer on 2nd November, 2017, which resulted into an order passed under Section 92CA (3) of Panasonic Life Solutions India Pvt. Ltd.; A.Y. 2012-13 the Act dated 30th October, 2018, wherein Arm's Length Price of royalty is determined at 1.15% of the net selling price and an adjustment to the extent

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

B Wing Delphi,\nHiranandani Business Park,\nMumbai - 400076\nAppellant\nPAN: AABCT3207A\nDeputy Commissioner of Income Tax\nCircle - 15(3)(1)\nMumbai\nRespondent\nAssessee by : Shri Dhanesh Bafna, Shri Anmol Mahajan\nMs. Hinal Shah\nRevenue by : Shri Pravin Salunkhe, Sr.DR\nDate of Hearing – 09/12/2025\nDate of Order - 02/01/2026\nORDER\nPER SANDEEP SINGH KARHAIL, J.M.\nThe assessee has filed the present appeals

VODAFONE INDIA LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-8(3)(2), MUMBAI

Transfer Pricing Adjustment of INR\n93,12,637/- pertaining to Reimbursement of Expenses\nof salary and related cost on deputation of personnel\nin India.\n(1)\nGround No. 8: Levy of interest under Section 234D\nand 244A of the Act\n(m) Ground No. 9: Incorrect computation of Book Profits\nunder Section 115JB of the Act\n(n)\nGround