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)

transfer pricing adjustment sustained by the Commissioner of Income-tax [Appeals] 1.1 The learned Commissioner of Income-tax (Appeals)-58 erred, both in law and on the facts and in the circumstances of the case, in sustaining an upward adjustment to the extent of Rs. 76,21,361/- towards non-recovery of guarantee commission from Associated Enterprises ('AEs) in relation

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)

transfer pricing adjustment sustained by the Commissioner of Income-tax [Appeals] 1.1 The learned Commissioner of Income-tax (Appeals)-58 erred, both in law and on the facts and in the circumstances of the case, in sustaining an upward adjustment to the extent of Rs. 76,21,361/- towards non-recovery of guarantee commission from Associated Enterprises ('AEs) in relation

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

Transfer Pricing Grounds 1. Imputing interest on delayed receipt from debtors 2. Imputing interest on the share application money paid to the subsidiaries by the Appellant. 3. Imputing guarantee commission with respect to the corporate guarantees provided by the Appellant to its Associated Enterprises Corporate Tax Grounds 4. Disallowance of the deduction claimed u/s 10B of the Income

DCIT(CC)-8(3), MUMBAI vs. SHAPOORJI PALLONI AND COMPANY PRIVATE LIMITED, MUMBAI

43B", "Section 92CA(1)", "Section 115JB", "Section 153" ], "issues": "1. Whether the issuance of letters of comfort, financial guarantees, and performance guarantees by the assessee to its AEs constituted international transactions and whether the 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

DCIT(CC)-8(3), MUMBAI vs. SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED, MUMBAI

transfer pricing adjustments related to guarantees (financial, corporate, and performance) and a deduction claimed under Section 35DD for stamp duty expenses during a scheme of arrangement. The Assessing Officer made additions for guarantee commission and disallowed the Section 35DD deduction. The CIT(A) granted partial relief.", "held": "The Tribunal held that Letters of Comfort (LOCs) do not constitute international transactions

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

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

In the result, appeals of both, revenue and assessee are partly\nallowed for all the three

section 80HHC /80HHE etc. there is\nspecific provision to exclude from the \"Profit of the Business\", the other\nincome such as commission, brokerage, interest, rent etc. However,\nthere is no specific exclusion while computing deduction under section\n10A/10AA/10B of the Act. Therefore, in view of the aforesaid provisions,\nit is clear that, what is exempted is not merely the profits

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

Appeal is hereby dismissed as infructuous

Transfer Pricing Officer? 19.3.1. This question was disposed of by the Hon’ble Jurisdictional High Court by observing as under:- 3. Regarding Question No.(a) (a) It is an agreed position between the parties that the issue raised herein stand concluded against the Revenue and in favour of the Respondent - Assessee. This by the decision of this Court

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

Appeal is hereby dismissed as infructuous

Transfer Pricing Officer? 19.3.1. This question was disposed of by the Hon’ble Jurisdictional High Court by observing as under:- 3. Regarding Question No.(a) (a) It is an agreed position between the parties that the issue raised herein stand concluded against the Revenue and in favour of the Respondent - Assessee. This by the decision of this Court

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

Appeal is hereby dismissed as infructuous

Transfer Pricing Officer? 19.3.1. This question was disposed of by the Hon’ble Jurisdictional High Court by observing as under:- 3. Regarding Question No.(a) (a) It is an agreed position between the parties that the issue raised herein stand concluded against the Revenue and in favour of the Respondent - Assessee. This by the decision of this Court

ASST CIT (LTU) 1, MUMBAI vs. GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

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

Transfer Pricing Officer (TPO) to determine the Arms Length Price (ALP) of the International Transaction the assessee is having with its Associated Enterprises (AE). The TPO passed an under section 92CA of the Act dated 09.01.2015 computing a TP Adjustment towards performance guarantee at Rs. 5,26,17,801/-. The AO passed an assessment order under section 143(3) r.w.s

GRASIM INDUSTRIES LIMITED (AS A SUCCESSOR TO ADITYA BIRLA NUVO LTD),MUMBAI vs. ADDL CIT LTU, MUMBAI

In the result, appeal of the Revenue is dismissed

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

Transfer Pricing Officer (TPO) to determine the Arms Length Price (ALP) of the International Transaction the assessee is having with its Associated Enterprises (AE). The TPO passed an under section 92CA of the Act dated 09.01.2015 computing a TP Adjustment towards performance guarantee at Rs. 5,26,17,801/-. The AO passed an assessment order under section 143(3) r.w.s

DCIT, CIRCLE 3 4, MUMBAI, MUMBAI vs. TATA CONSULTANCY SERVICES LIMITED, MUMBAI

In the result, appeals of both, revenue and assessee are partly\nallowed for all the three

Section 40(a)(ia) of the Act both under normal provisions of the Act\nas well as under the computation of book profits u/s.115JB of the Act. We find\nthat the Id. CIT(A) had deleted the said disallowance by observing as under:-\n\"This is a matter arising for the first time in the case of assessee

CONCENTRIX SERVICES INDIA PRIVATE LIMITED (FORMERLY KNOWN AS MINACS PRIVATE LIMITED, MINACS LIMITED & ADITY BIRLA MINACS WORLDWIDE LIMITED ),MUMBAI vs. JOINT COMMISSIONER OF IT (OSD)10(2)(2)ASSISTANT COMMISSIONER OF INCOME TAX-9(2)(2), MUMBAI

Transfer Pricing Adjustment of account of interest on loan to Associated Enterprises to the extent sustained by the CIT(A). 16.1. Ground No. 2 raised in appeal for the Assessment Year 2012-13 by the Assessee is identical to Ground No. III raised in appeal by the Assessee for the Assessment Year 2011-12 which has been dismissed hereinabove. Both

CONCENTRIX SERVICES INDIA PRIVATE LIMITED (FORMERLY KNOWN AS MINACS PRIVATE LIMITED, MINACS LIMITED & ADITY BIRLA MINACS WORLDWIDE LIMITED ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-10(2)(2), MUMBAI

Transfer Pricing Adjustment of account of interest on loan to Associated Enterprises to the extent sustained by the CIT(A). 16.1. Ground No. 2 raised in appeal for the Assessment Year 2012-13 by the Assessee is identical to Ground No. III raised in appeal by the Assessee for the Assessment Year 2011-12 which has been dismissed hereinabove. Both

VARIAN MEDICAL SYSTEMS INTERNATIONAL (INDIA) PRIVATE LIMITED,MUMBAIQQQ vs. ASSESSMENT UNIT NFAC CETNRE ITO, MINISTRY OF FINANCE DELHI, DELHI

In the result, the appeal of the assessee is partially allowed

Bench: Shri Narender Kumar Choudhry, Jm & Ms Padmavathy S, Am

Transfer Pricing Adjustment (B-A) 3,03,99,153 9. The ld. Authorized Representative (AR) during the course of hearing submitted a chart contending the inclusion of twelve (12) comparables added by the TPO. The ld. AR submitted that all the comparables have been added by the TPO based on the T.P. order for the earlier

ADITYA BIRLA NUVO LTD (SINCE AMALGAMATED WITH GRASIM INDUSTRIES LIMITED),MUMBAI vs. ASST CIT (LTU) 1, MUMBAI

section 43B.\nConsidering that the facts for the year under consideration being similar,\nwe direct the AO to delete the disallowance made, by respectfully following the\nabove decision of the coordinate bench.\nTransfer Pricing Adjustment – Ground No.7\n26. The Transfer