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

7 Thereafter, the assessee has to maintain full details of uncontrolled Thereafter, the assessee has to maintain full details of uncontrolled Thereafter, the assessee has to maintain full details of uncontrolled transactions and transactions and analyse their comparability with the international analyse their comparability with the international transaction particularly having regard to the nature, terms and transaction particularly having regard

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

40a(IA) Rs. 3,17,32,153/- 14. "Whether on facts and in circumstances of the case and in law, the Ld. CIT(A) erred in deleting the disallowance of claim of deduction under section 10AA in respect of interest income which was claimed during the course of assessment proceedings, without filing revised return of income?" 15. "Whether on facts

M/S SANOFI INDIA LTD (FORMERLY KNOWN AS AVENTIS PHARMA LTD,MUMBAI vs. THE ACIT RG 8(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

transfer pricing assessment, m) export price fixed by Chiron India made good commercial sense to take advantage of its surplus manufacturing capacity which is similar to airline company or hotels who charge different prices to different customers so as to achieve equilibrium by earning best profits in a given situation; n) therefore, CIT(A) is of view that price charged

ACIT- 3(1)(1), MUMBAI vs. MM/S SANOFI INDIA LIMITED (FORMERLY KNOWN AS AVENTIS PHARMA LTD)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

transfer pricing assessment, m) export price fixed by Chiron India made good commercial sense to take advantage of its surplus manufacturing capacity which is similar to airline company or hotels who charge different prices to different customers so as to achieve equilibrium by earning best profits in a given situation; n) therefore, CIT(A) is of view that price charged

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

section 14A regardless of whether they are direct or indirect, fixed or variable and managerial or financial in accordance with law. It is further evident that deduction in respect of expenditure incurred by the assessee in relation to exempt income and taxable income has to be determined as per mechanism laid down in section 14A and in accordance with

M/S. LAXMI ORGANIC INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

7, Hon'ble Court noted that “In\norder to reduce litigation, we are of the view that certain provisions of the\nAct, like Section 40A(2) and Section 80IA(10), need to be amended\nempowering the Assessing Officer to make adjustments to the income\ndeclared by the assessee having regard to the fair market value of\nthe transactions between

TATA CHEMICALS LTD,MUMBAI vs. DCIT 2(3), MUMBAI

Appeal is hereby dismissed as infructuous

7. On a conceptual note, the determination of arm's length price is essentially an effort to neutralize the impact of intra- AE relationship in a transaction between two associated enterprises as also the impact of controlled conditions in such a transaction. In other words, the entire ALP ascertainment exercise is to determine if a hypothetical or real but same

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

Appeal is hereby dismissed as infructuous

7. On a conceptual note, the determination of arm's length price is essentially an effort to neutralize the impact of intra- AE relationship in a transaction between two associated enterprises as also the impact of controlled conditions in such a transaction. In other words, the entire ALP ascertainment exercise is to determine if a hypothetical or real but same

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

Appeal is hereby dismissed as infructuous

7. On a conceptual note, the determination of arm's length price is essentially an effort to neutralize the impact of intra- AE relationship in a transaction between two associated enterprises as also the impact of controlled conditions in such a transaction. In other words, the entire ALP ascertainment exercise is to determine if a hypothetical or real but same

DCIT(CC)-8(3), MUMBAI vs. JSW ENERGY LIMITED, MUMBAI

In the result the appeals filed by the revenue for assessment years under consideration stands partly allowed and cross appeals filed by the assesse stands dismissed

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 92BA w.e.f. 01/04/2013, then statute would have provided that for the purpose of Sub-section (8) to Section 80IA, “market value” in relation to goods or services means the arm’s length price as defined in clause (ii) of Section 92F. If both the clauses exist then one has to see if the market value is discernible from

KBS CREATION LTD ,MUMBAI vs. DY COMM. OF INCOME TAX -CIRCLE 24(1), MUMBAI

In the result, the concise ground of appeal of the assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

40A; (has been omitted Fin Act,2017) (ii) any transaction referred to in section 80A; (iii) any transfer of goods or services referred to in sub-section (8) of section 80-IA; (iv) (any business transacted between the assessee and other person as referred to in sub-section (10) of section 80-IA; (v) any transaction, referred

HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P. LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

7. DRP vide its order under section 144C (13) sustained the draft order of AO as far as addition on account of TP Adjustment and disallowance under section 40a (ia) is concerned. As far as disallowance under section 14A is concerned, DRP reduced the amount from Rs. 27,16,560/- to Rs. 10,00,000/-. Being aggrieved with this order

HSBC SECURITIES AND CAPITAL MARKETS (I) P.LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

7. DRP vide its order under section 144C (13) sustained the draft order of AO as far as addition on account of TP Adjustment and disallowance under section 40a (ia) is concerned. As far as disallowance under section 14A is concerned, DRP reduced the amount from Rs. 27,16,560/- to Rs. 10,00,000/-. Being aggrieved with this order

DCIT 4(1), MUMBAI vs. HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P.LTD, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

7. DRP vide its order under section 144C (13) sustained the draft order of AO as far as addition on account of TP Adjustment and disallowance under section 40a (ia) is concerned. As far as disallowance under section 14A is concerned, DRP reduced the amount from Rs. 27,16,560/- to Rs. 10,00,000/-. Being aggrieved with this order

STRIDES PHARMA SCIENCE LTD.,NAVI MUMBAI vs. THE DY CIT -5(1)(2), MUMBAI

In the result ITA number 1004/M/2021 filed by the assessee for assessment year 2016 – 17 is allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Strides Pharma Science Ltd. Dcit 15(1)(2) 201, Devavrata, Sector-17, Aayakar Bhavan, M K Road, Vs. Vashi, Navi Mumbai, 400703 Mumbai 400020 (Appellant) (Respondent) Pan No. Aadcs8104P

Transfer Pricing, 4 (1) (2), Mumbai (the learned TPO) to examine arm’s-length price of those international transactions. ITA NO. 1004/MUM/2021 AY 16-17 Strides Pharma Science Ltd. 4. The learned TPO passed an order under section 92CA (3) on 31/10/2019 dealing with the international transactions as under: – i. On verification of Form No. 3CEB, the TPO noted that

THE HONG KONG & SHANGHAI BANKING CORPORATION LTD.,MUMBAI vs. ADDL. DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) - RANGE -3, MUMBAI

Transfer Pricing dispute, we will now address to\nthe domestic issues.\n19. The only issue in the appeal of the assessee for the A.Y. 2006-07 to\nA.Y. 2008-09 in ITA No. 4766, 4767 & 7010/MUM/2016 relates to the\nexpenditure incurred on separation/termination of employees. In\nA.Y.2006-07 the Assessing Officer has considered this issue at Page

DCIT (IT) 2(2)(2), MUMBAI vs. THE HONGKONG AND SHANGHAI BANKING CORP LTD, MUMBAI

In the result, the captioned appeals by the assessee are partly\nallowed and that of the revenue are partly allowed

Transfer Pricing dispute, we will now address to\nthe domestic issues.\n19. The only issue in the appeal of the assessee for the A.Y. 2006-07 to\nA.Y. 2008-09 in ITA No. 4766, 4767 & 7010/MUM/2016 relates to the\nexpenditure incurred on separation/termination of employees. In\nA.Y.2006-07 the Assessing Officer has considered this issue at Page

ADDL CIT 8(1), MUMBAI vs. M/S. SANOFI INDIA LIMITED (FORMERLY KNOWN AS M/S. AVENTIS PHARMA LTD), MUMBAI

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

price, which ultimately recovers its cost of manufacturing, which is also based on the JV agreement. The Chiron group markets the same at the lesser cost does not make, anyway, affects the marketability or achieving the profitability of the assessee in the whole marketing strategy of the Chiron Group. It is wrong on the part of the revenue authorities

ADDL CIT RG 8(1), MUMBAI vs. M/S. SANOFI INDIA LIMITED (FORMERLY KNOWN AS M/S. AVENTIS PHARMA LTD), MUMBAI

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

price, which ultimately recovers its cost of manufacturing, which is also based on the JV agreement. The Chiron group markets the same at the lesser cost does not make, anyway, affects the marketability or achieving the profitability of the assessee in the whole marketing strategy of the Chiron Group. It is wrong on the part of the revenue authorities