DCIT CENT CIR. 8(1), MUMBAI vs. KUNAL GOVIND KATARIA, MUMBAI

Bench: Shri G. Manjunatha & Shri Ravish Soodkunal Govind Kataria Vs. Dcit,Cc-8(1) 2/B, Cenced Apartments Aaykar Bhawan Nr.Bajaj Park, Ambedkar M.K.Road Road, Bandra(West) Mumbai-400 020 Mumbai-400 050 Pan/Gir No.Aodpk3994G (Appellant) .. (Respondent)

section 43(5) of the Act, which are reproduced as under;- (5) "speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately'" settled otherwise than by the actual delivery or transfer of the commodity or scrips: Provided that for the purposes of this clause

KUNAL GOVIND KATARIA,MUMBAI vs. DCIT CENT CIR. 8(1), MUMBAI

Bench: Shri G. Manjunatha & Shri Ravish Soodkunal Govind Kataria Vs. Dcit,Cc-8(1) 2/B, Cenced Apartments Aaykar Bhawan Nr.Bajaj Park, Ambedkar M.K.Road Road, Bandra(West) Mumbai-400 020 Mumbai-400 050 Pan/Gir No.Aodpk3994G (Appellant) .. (Respondent)

section 43(5) of the Act, which are reproduced as under;- (5) "speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately'" settled otherwise than by the actual delivery or transfer of the commodity or scrips: Provided that for the purposes of this clause

DCIT 4(2)(1), MUMBAI vs. SPS SHARE BROKERS P.LTD, MUMBAI

In the result Revenue fails in this appeal

Bench: Shri Saktijit Dey & Shri Ramit Kochar

Section 43(5) of the Act. which reads as under: (5) "speculative transaction means a transaction in which a contract for the purchase or sale of any commodity , including stocks and shares , is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips: Provided that for the purposes of this clause

ZEE ENTERTAINMENT ENTERPRISES LIMITED,MUMBAI vs. ADDL. COMM OF INCOME TAX RANGE-11 (1), MUMBAI

In the result, appeal of the assessee is partly allowed

Bench: Shri G.S.Pannu & Shri Ravish Soodzee Entertainment Enterprises Ltd., 135, Continental Building, Dr.A.B.Road, Worli, Mumbai 400 020 Pan:Aaacz 0243R ...... Appellant Vs. The Addl. Commissioner Of Income Tax, Range -11(1), 4Th Floor, Room No.434, Aaykar Bhavan,M.K.Road, Mumbai – 400 020 .... Respondent

section 43(5), which reads as under:- “(5) "speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips: Provided that for the purposes of this clause— (a) a contract in respect

GOLDMAN SACHS (INDIA) SECURITIES PVT LTD,MUMBAI vs. ADDL.C.I.T. RG.3(1), MUMBAI

In the result, appeal stands partly allowed

Bench: Shri Saktijit Dey & Shri Ashwani Taneja

43. Insofar as five other companies selected by the assessee viz. Aryaman Financial Services Ltd., Excess India Advisors India Ltd., ICRA Management Consulting Services Ltd., ICRA On–line Limited, Kinetic Trust Ltd., on a perusal of the order of the Transfer Pricing Officer, we find, he has neither made any discussion on these companies nor has assigned any reason

FIRMENICH AROMATICS (INDIA) P. LTD,MUMBAI vs. DCIT 9(3)(1), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

5% on local sales and @ 8% on export sales, net of Indian taxes, however, there is no major change in the terms of the contract, except for the fact that the in the impugned assessment year, the assessee has paid royalty on the gross sales instead of net sales as was done in the preceding assessment years. In the transfer

ACCENTURE SERVICES P.LTD,MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

In the result, assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

section 133(6) of the Act was made available to the assessee. He has not properly evaluated all the objections of the assessee. The DRP also upheld the finding of the Transfer Pricing Officer by simply observing that the services provided by the company are largely in the nature of software services. Notably, in case of Invensys Development Centre India

ACCENTURE SERVICES P.LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, appeal is partly allowed

Bench: Shri Saktijit Deyand Shri N.K. Pradhan

43. The learned Sr. Counsel for the assessee submitted, while deciding identical issue in assessment year 2008–09, the Tribunal has held that the services rendered under IPSA being in the nature of ITES, the assessee is eligible to claim deduction under section 10A of the Act. Further, he submitted, insofar as SEZ units are concerned, the assessee is eligible

DCIT 5(2), MUMBAI vs. LONDON STAR DIAMOND CO. INDIA P.LTD, MUMBAI

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 1359/Mum/2014 ("नधा"रण वष" / Assessment Year : 2010-11) The Deputy Commissioner Of London Star Diamond बनाम/ Income Tax 5(2) Company (India) Private V. Room No. 571, Aayakar Limited Bhawan, M K Road, Mumbai- 1610/1611 , 400 020 Prasad Chambers, Opera House, Mumbai-400 004 "थायी लेखा सं./Pan : Aaacl0576B .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

section 43(5) provides for definition of "speculation transactions". The said provisions read as under: "43(1) to (4)** ** ** (5) "speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips: PROVIDED

FIRMENICH AROMATICS (INDIA) P. LTD,MUMBAI vs. ACIT 9(3)(1), MUMBAI

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

Bench: Shri G Manjunatha () & Shri Ravish Sood () Firmenich Aromatics (India) Vs Acit-9(3)(1), Mumbai Pvt Ltd, 9Th Floor, Arena Space, Cts 20, New Shyam Nagar Road, Behind Majas Bus Depot, Jogeshwari (E), Mumbai. Pan : Aaacf1621M Appellant Respondednt

5) of the Income-tax Act, 1961 dated 06-07-2018, rejected objections filed by the assessee and confirmed transfer pricing adjustment suggested by the TPO in respect of sale of finished goods, payment of royalty and payment for interest on ECB loan. Similarly, the DRP has rejected objections filed by the assessee insofar as disallowance of employees contribution

DCIT (LTU) 1, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

ASST CIT (LTU) 1, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

IPCA LABORATORIES LTD,MUMBAI vs. DCIT LTU, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

IPCA LABORATORIES LTD,MUMBAI vs. ASST CIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

IPCA LABORATORIES LTD,MUMBAI vs. ACIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

DCIT CENT. CIR. 5(2), MUMBAI vs. IPCA LABORATORIES LTD., MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

IPCA LABORATORIES LTD,MUMBAI vs. ASST CIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

IPCA LABORATORIES LTD,MUMBAI vs. DCIT (LTU), MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment

ACIT CEN CIR 13, MUMBAI vs. IPCA LABORATORIES LTD, MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

5 products and the actual sale value is less than the Arms Length Price and accordingly, made an adjustment of `17,33,115/-. He further considered transaction with National Drugs (Pty) Ltd and found actual sales value is less by `6,85,590/- from its Arms Length Price and therefore, adjustment was required. Accordingly, he proposed an adjustment