ASIAN PAINTS LIMITED,SANTACRUZ vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

price higher than the MRP of the respective tinted shade. Therefore, the dealer can charge the cost of colorant over and above the MRP of the base paint and they are at the liberty to fix the price of the final colour shade subject to the Tinted Shades MRP list separately provided to the dealers i.e. the same cannot exceed

DY. CIT CIRCLE 3(4), MUMBAI, MUMBAI vs. ASIAN PAINTS LTD, MUMBAI

In the result, appeals filed by assessee and Revenue for A

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

35. Before us, ld. Counsel for the assessee submitted that - (i) These expenses in comparison to total expenses (i.e. Rs. 3,636.75 crores) are minuscule, which comes to around only 0.02% of our total expenditure. (ii) That expenses attributable to the earlier years but crystallize in the year under consideration on receipt of M/s. Asian Paints invoice/bills ought

TATA AIG GENERAL INSURANCE COMAPANY LTD,MUMBAI vs. ASST CIT 2(3), MUMBAI

In the result, the appeal of the assessee is allowed

35 A.Y. 2009-10 Tata AIG General Insurance 42.Thus, despite the fact that the reference made to the Ld. TPO is valid, in absence of a legally valid transfer pricing order and a valid draft assessment order, the Ld. AO cannot assume jurisdiction to proceed with the assessment under Section

ASIAN PAINTS LIMITED,SANTACRUZ vs. ASSISTANT COMMISSIONER OF INCOME TAX, LTU CIRCLE 1, CUFFE PARADE

In the result, appeals filed by assessee and Revenue for\nA

price higher than the MRP of the respective\ntinted shade. Therefore, the dealer can charge the cost of\ncolorant over and above the MRP of the base paint and they are\nat the liberty to fix the price of the final colour shade subject to\nthe Tinted Shades MRP list separately provided to the dealers\ni.e. the same cannot exceed

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

35,15,11,079/-. The case of the Assessee was selected for scrutiny. During the assessment proceedings, the Assessing Officer noted that the Assessee has entered into international transactions with its Associated Enterprises (AEs) and therefore, a reference was made under Section 92CA(1) to the Transfer Pricing

ATOS INDIA P.LTD,MUMBAI vs. DCIT RG 14(1)(1), MUMBAI

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

Bench: Shri G. S. Pannu & Shri Amit Shukla, Jm आयकरअपीलसं./ I.T.A. No. 1795/Mum/2017 (ननधधारणवर्ा / Assessment Year: 2012-13) Dcit-14(1)1), Atos India Pvt. Ltd., Aayakar Bhavan Godrej & Boyce Complex, बनाम/ Mumbai Plant 5, Pirojshanagar, Vs. Lbs Marg, Vikhroli (West), Mumbai-400079 स्थधयीलेखधसं./जीआइआरसं./ Pan No. Aaaco2461J (अपीलधथी/Appellant) (प्रत्यथी / Respondent) : अपीलधथीकीओरसे/ Appellant By : Shri Dhanesh Bafna /Chandni Sha /Riddhi Maru /Kinjal Patel, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Dr. Yogesh Kamat, Ld. Dr सुनवधईकीतधरीख/ 01.06.2022 & : 25.01.2023 Date Of Hearing घोर्णधकीतधरीख / : 23.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: 1. The Aforesaid Appeal Has Been Filed By The Assessee Against The Final Assessment Order Passed U/S 143(3) R.W.S. 144C(13) In 2

section 92CA of the Act D Proceeding for assessment 31.12.2019 31.3.2016 should be completed on / before this date E A date prior to the date on which 30.12.2019 30.3.2016 period of limitation expires F Sixty day period expires on 01.11.2019 31.1.2016 35 I.T.A. No. 1795/Mum/2017 Atos India Pvt. Ltd. G Transfer Pricing

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

section 92CA(3) of the Act. In the instant case, it will be apparent that there is no transfer pricing 35

DY CIT CIRCLE -3(4), MUMBAI, MUMBAI vs. ASIAN PAINTS LIMITED, MUMBAI

transferred to the dealers for a price once the sales\ninvoice is raised and delivery of such goods are made. In case\nof agency, the principal record the sale as and when agent\nultimately sell the goods, but here in this case, sales are\nrecorded as and when the goods are sold to the dealers and\nnot when dealer ultimately

ASIAN PAINTS LIMITED,SANTACRUZ vs. DEPUTY COMMISSIONER OF INCOME TAX, LTU CIRCLE 2, CUFFE PARADE

In the result, appeals filed by assessee and Revenue for\nA

transferred to the dealers for a price once the sales\ninvoice is raised and delivery of such goods are made. In case\nof agency, the principal record the sale as and when agent\nultimately sell the goods, but here in this case, sales are\nrecorded as and when the goods are sold to the dealers and\nnot when dealer ultimately

DY CIT CIRCLE 3(4), MUMBAI, MUMBAI vs. ASIAN PAINTS, MUMBAI

In the result, appeals filed by assessee and Revenue for\nA

transferred to the dealers for a price once the sales\ninvoice is raised and delivery of such goods are made. In case\nof agency, the principal record the sale as and when agent\nultimately sell the goods, but here in this case, sales are\nrecorded as and when the goods are sold to the dealers and\nnot when dealer ultimately

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

SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -3(3)(1), MUMBAI

Appeals are partly allowed

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI JAGADISH (Accountant Member)

35,88,947/- under Section 115JB of the Act. The case of the Assessee was selected for scrutiny. During the course of assessment proceeding, the Assessing Officer noted that the Assessee had entered into International Transactions with its Associated Enterprises(AEs), therefore, reference was made under Section 92CA(1) of the Act to the Transfer Pricing

SHAPOORJI PALLONJI AND COMPANY PVT LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(3), MUMBAI

Appeals are partly allowed

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI JAGADISH (Accountant Member)

35,88,947/- under Section 115JB of the Act. The case of the Assessee was selected for scrutiny. During the course of assessment proceeding, the Assessing Officer noted that the Assessee had entered into International Transactions with its Associated Enterprises(AEs), therefore, reference was made under Section 92CA(1) of the Act to the Transfer Pricing

TELEPERFORMANCE GLOBAL SERVICES P. LTD.,MUMBAI vs. THE ADDL/JT/DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT DENTRE,, DELHI

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

Bench: Us, First We Would Like To Address Ground No.2 Wherein The Assessee Has Submitted That The Order Of The Ld. Tpo U/S.92Ca(3) Of The Act Dated 01/11/2019 Is Barred By Limitation & Hence, Invalid In Law.

transfer pricing order being passed at all and any variations arising there from, the entailing consequence in instant case is that the 20 M/s. Teleperformance Global Services Privae Limited (Formerly known as ―Inellenet Global Services Pvt. Ltd.‖) appellant cannot be said to be an ‗eligible assessee‘ under section 144C(15)(b)(ii) of the Act. 35

INDIA MEDTRONIC P LTD,MUMBAI vs. ADDL/JT/DY/ASSTT/CIT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal of the assessee is allowed on legal ground

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI PRASHANT MAHARISHI (Accountant Member)

Section 92CA(2) of the Act. The learned TPO proposed the following transfer pricing (TP) adjustments vide its order dated, 1 November 2019 :- Particulars of TP Adjustment Amount (in INR) 1 Adjustment on account of 1,08,99,66,623 alleged Advertising, Marketing and Promotion (AMP) expenses 2. Adjustment on account of 6,26,48,940 reimbursement of expenses

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

Section 92C of the Income Tin Act, 1961, for the purpose of determining arm's length price of the Act, 1961, for the purpose of determining arm's length price of the Act, 1961, for the purpose of determining arm's length price of the transaction. Parishi Diamonds 12 CONCLUSION. As the firm has also sold diamonds to independent parties

TUBACEX PRAKASH INDIA P. LTD.,MUMBAI vs. ADDL/JT/CY/ASSTT/CIT/ ITO, NATIONAL E-ASSESSMENT CENTRE,, DELHI

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

Bench: Us, First We Would Like To Address Ground No.3 Wherein The Assessee Has Submitted That The Order Of The Ld. Tpo U/S.92Ca(3) Of The Act Dated 01/11/2019 Is Barred By Limitation & Hence, Invalid In Law.

transfer pricing order being passed at all and any variations arising there from, the entailing consequence in instant case is that the appellant cannot be said to be an ‗eligible assessee‘ under section 144C(15)(b)(ii) of the Act. 35

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

pricing angle. (iii) The brand royalty charged Rs.2500.75 crores is for the exclusive use and exploitation of the brand 'TCS' and 'TATA CONSULTANCY SERVICES' (for which assessee is undoubtedly the economic owner) by the AEs of the assessee for augmenting their business revenues and for the brand "TATA" of which the Tata Sons Ltd is the legal owner for which

COLGATE PALMOLIVE (INDIA) LTD,MUMBAI vs. ASST CIT CIR 15(1)(2), MUMBAI

Accordingly, number 75/M/2018 filed by the assessee for assessment year 2013 – 14 is allowed

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

35,33,267/-, as per normal computation and the book profit under Section 115JB of the Income-tax Act, 1961 (the Act) at ₹518,37,38,685/-. The return of the income was picked up for scrutiny. iii. As the assessee has entered into international transactions, on reference to the Joint Commissioner ITA Nos.2799, 3488/M/2016, 1977/M/2017, 75/M/2018 Colgate Palmolive (India