ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

50, arising on transfer of long term capital assets, at the\nrates mentioned in section 112 of the Act instead of charging them at the normal\nrates as has been done by the AO.\"\n3\nITA Nos.261 & 1022/Mum/2025\nSamir Narain Bhojwani\nITA No. 1022/Mum/2025 – Revenue\n1. Whether on the facts in the circumstances of the case the Ld.CIT

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

sections 92 to 92F of the Act r.w. Rules 10A to 10E of the I.T. Rules. Assessee heavily relied on the decision of Hon’ble Bombay High Court in the case of Vodafone India Services Private Limited [WP No. 871 of 2014. (2014) 50 taxmann.com 300 (Bombay), dated 10.10.2014. 10. In assessee’s submissions before 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

Transfer pricing adjustments 1. Rendering of software development 68,37,05,578 services 2. Intra-group services 10,51,45,309 Sub- total (A) 78,88,50,887 Corporate tax additions 3. Grant of lesser deduction under section

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)

Section 35DD of the Act. The Learned CIT(A) sustained the Transfer Pricing Addition in respect of Financial/Performance Guarantee to the extent of the following: Particulars Adjustment Sustained by Amount Sustained by Learned CIT(A) Learned CIT(A) (in INR.) LOC issued to bankers Nil Nil Performance guarantee to 0.5% or actual cost incurred 50

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)

Section 35DD of the Act. The Learned CIT(A) sustained the Transfer Pricing Addition in respect of Financial/Performance Guarantee to the extent of the following: Particulars Adjustment Sustained by Amount Sustained by Learned CIT(A) Learned CIT(A) (in INR.) LOC issued to bankers Nil Nil Performance guarantee to 0.5% or actual cost incurred 50

DCIT CIR 1, THANE vs. LAXCESS INDIA P.LTD, THANE

In the result, the appeal of the assessee

Bench: Shri Om Prakash Kant () & Shri Kavitha Rajagopal () Assessment Year: 2011-12 Lanxess India Pvt. Ltd., Dy. Cit, Circle-1, Lanxess House, Plot No. Room No. 22, 6Th Floor, B A/162-164, Road No. 27, Vs. Wing Asher It Park, Road, Wagle Estate, Opp. Iti College, 16-Z, Wagle Industrial Midc, Thane (West)-400 604. Estate, Thane (West)-400604. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2011-12 Dy. Cit, Circle-1, Lanxess India Pvt. Ltd., Room No. 22, 6Th Floor, B Wing Lanxess House, Plot No. Asher It Park, Road, 16-Z, Vs. A/162-164, Road No. 27, Wagle Industrial Estate, Thane Wagle Estate, Opp. Iti (West)-400604. College, Midc, Thane (West)- 400 604. Pan No. Aaccb 3880 A Appellant Respondent

section 92CA(3) of the Act transfer pricing adjustment to manufacturing segment and transfer pricing adjustment to manufacturing segment and transfer pricing adjustment to manufacturing segment and technical support service. Under manufacturing segment, the Ld. technical support service. Under manufacturing segment, the Ld. technical support service. Under manufacturing segment, the Ld. TPO computed adjustment for Nagada plant at Rs.2

LANXESS INDIA P.LTD,THANE vs. DCIT CIR 1, THANE

In the result, the appeal of the assessee

Bench: Shri Om Prakash Kant () & Shri Kavitha Rajagopal () Assessment Year: 2011-12 Lanxess India Pvt. Ltd., Dy. Cit, Circle-1, Lanxess House, Plot No. Room No. 22, 6Th Floor, B A/162-164, Road No. 27, Vs. Wing Asher It Park, Road, Wagle Estate, Opp. Iti College, 16-Z, Wagle Industrial Midc, Thane (West)-400 604. Estate, Thane (West)-400604. Pan No. Aaccb 3880 A Appellant Respondent Assessment Year: 2011-12 Dy. Cit, Circle-1, Lanxess India Pvt. Ltd., Room No. 22, 6Th Floor, B Wing Lanxess House, Plot No. Asher It Park, Road, 16-Z, Vs. A/162-164, Road No. 27, Wagle Industrial Estate, Thane Wagle Estate, Opp. Iti (West)-400604. College, Midc, Thane (West)- 400 604. Pan No. Aaccb 3880 A Appellant Respondent

section 92CA(3) of the Act transfer pricing adjustment to manufacturing segment and transfer pricing adjustment to manufacturing segment and transfer pricing adjustment to manufacturing segment and technical support service. Under manufacturing segment, the Ld. technical support service. Under manufacturing segment, the Ld. technical support service. Under manufacturing segment, the Ld. TPO computed adjustment for Nagada plant at Rs.2

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(1). of the method prescribed under section 92C(1). 38. The assessee's main argument is that due to the trade practice The assessee's main argument is that due to the trade practice The assessee's main argument is that due to the trade practice prevailing in the in the diamond industry separate identity of the diamond

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

transfer pricing angle which has been ignored by CIT(A) which is more so when the Agreements and the Certificates issued relied on by the CIT(A) belong to the period much Court Sanction Order. (iv) Even if it is assumed without admitting that there is some lack of clarity on the legal ownership of the trademarks, the CITIA) completely

HSBC ASSET MANAGEMENT (INDIA) P.LTD,MUMBAI vs. ASST CIT 1(1), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

section 250 of the Income Tax Act, M/s. HSBC Asset Management (I) Pvt. Ltd. ITA no.5830/Mum./2013 ITA no.5835/Mum./2013 1961 („the Act‟) by the learned Commissioner of Income Tax (Appeals)–15, Mumbai, [„learned CIT(A)‟], for the assessment year 2008–09. IT(TP)A no.5830/Mum./2013 Revenue’s Appeal – A.Y. 2008–09 2. In its appeal, the Revenue

DCIT 1(1), MUMBAI vs. HSBC ASSET MANAGEMENT (I) P. LTD, MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

section 250 of the Income Tax Act, M/s. HSBC Asset Management (I) Pvt. Ltd. ITA no.5830/Mum./2013 ITA no.5835/Mum./2013 1961 („the Act‟) by the learned Commissioner of Income Tax (Appeals)–15, Mumbai, [„learned CIT(A)‟], for the assessment year 2008–09. IT(TP)A no.5830/Mum./2013 Revenue’s Appeal – A.Y. 2008–09 2. In its appeal, the Revenue

SHELL INDIA MARKETS PVT. LTD.,MUMBAI vs. ACIT (LTU) - 2, MUMBAI

In the result, appeal by assessee is allowed

50: Lower deduction claimed under Section 10B of the Act • On the facts and in the circumstances of the case and in law, the Appellant for the purpose of computing deduction under Section 10B of the Act in its revised ROI, included suo moto transfer pricing

ACIT, (LTU)-2, MUMBAI vs. SHELL INDIA MARKETS PVT. LTD., MUMBAI

In the result, appeal by assessee is allowed

50: Lower deduction claimed under Section 10B of the Act • On the facts and in the circumstances of the case and in law, the Appellant for the purpose of computing deduction under Section 10B of the Act in its revised ROI, included suo moto transfer pricing

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

transfer pricing terminology, "capital-rich low function entity". 15. …………………………………………………………………………. 16. …………………………………………………………………………. 17. …………………………………………………………………………. 18. There are three fundamental questions that arise in this context- first, whether there can be such a funding transaction between the parties which are not associated enterprises, or, to put it differently, whether there can be ITA.NO. 120/MUM/2013 (A.Y: 2008-09) Tata Chemicals Ltd valid comparables, under

ACIT CIRCLE 5(1)(1), MUMBAI vs. M/S ESSAR SHIPPING LIMITED, MUMBAI

In the result, appeal filed by the learned AO is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhry, Jm M/S Essar Shipping Limited Acit, Circle 5(1)(1) Essar House, 11, R.No.568, Aaykar Bhavan, Vs. Kk Marg, Mahalaxmi, M.K. Road, Mumbai-400 020 Mumbai-400 034 (Appellant) (Respondent) Pan No. Aacce3707D

transfer pricing study is highly facts-based and it differs from case to case and that all the factors in Rule M/s Essar Shipping Limited; A.Y. 2012-13 10B have to be considered for every case and every year independently and that a rate decided in a different case for different set of facts and for different year cannot

JOINT COMMISSIONER OF INCOME TAX (OSD)-4(1)(1), MUMBAI vs. CITIGROUP GLOBAL MARKETS (INDIA) PRIVATE LIMITED, MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Citigroup Global Markets (India) Private Limited The Dcit 1402, 14Th Floor, Circle -4(1), First International Financial Aaykar Bhavan Centre, Vs. M.K. Road, Bandra Kurla Complex, Mumbai-400 020 G Block, Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No.Aaecs7234F Citigroup Global Markets (India) The Jcit (Osd) Private Limited 4(1)(1) 1402, 14Th Floor, Room No. 640, 6 Th Floor, First International Financial Aaykar Bhavan, Centre, Vs. M.K. Road, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Shri Nishant Thakkar & Mr. Jasmin Amalsadwala, Ars Revenue By : Ms. Vranda U. Matkari, Dr Date Of Hearing: 04/08/2023 Date Of Pronouncement : 25/10/2023

section 14A read with Rule 8D of the Rules. 4. The learned CIT(A) erred in disallowing Rs 46,50,827 being 10 percent of the following expenditure incurred by the Appellant on the ground that the expenses were not entirely incurred for the purpose of the business and were not adequately supported by bills etc: (i) Entertainment and conference

CITIGROUP GLOBAL MARKETS (INDIA) PRIVATE LIMITED,MUMBAI vs. DCIT, CIRCLE-4(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Citigroup Global Markets (India) Private Limited The Dcit 1402, 14Th Floor, Circle -4(1), First International Financial Aaykar Bhavan Centre, Vs. M.K. Road, Bandra Kurla Complex, Mumbai-400 020 G Block, Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No.Aaecs7234F Citigroup Global Markets (India) The Jcit (Osd) Private Limited 4(1)(1) 1402, 14Th Floor, Room No. 640, 6 Th Floor, First International Financial Aaykar Bhavan, Centre, Vs. M.K. Road, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Shri Nishant Thakkar & Mr. Jasmin Amalsadwala, Ars Revenue By : Ms. Vranda U. Matkari, Dr Date Of Hearing: 04/08/2023 Date Of Pronouncement : 25/10/2023

section 14A read with Rule 8D of the Rules. 4. The learned CIT(A) erred in disallowing Rs 46,50,827 being 10 percent of the following expenditure incurred by the Appellant on the ground that the expenses were not entirely incurred for the purpose of the business and were not adequately supported by bills etc: (i) Entertainment and conference

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

Section\n92CA(1) of the Act to the Transfer Pricing Officer (TPO) for\ndetermination of the Arm's Length Price (ALP) in relation to the\nInternational Transaction with its AE. Vide Order Sheet noting, dated\n03/10/2016, the TPO raised queries regarding Guarantee\nCommission and the Assessee was asked to show cause as to why\nGuarantee Commission at the rate