ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI vs. CIT (TRANSFER PRICING)-4, MUMBAI

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI CITY vs. CIT (TRANSFER PRICING)-4, MUMBAI CITY

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI vs. CIT (TRANSFER PRICING)-4, MUMBAI

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

ZENZI PHARMACEUTICAL INDUSTIES PVT LTD.,MUMBAI CITY vs. CIT (TRANSFER PRICING)-4, MUMBAI CITY

In the result all the four appeals filed by the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

transfer-pricing officer to compute the arm‟s- length price of the international transaction on 30/12/2019. The learned TPO passed an order under section 92CA (3) of the Act dated 27/1/2021 stating that the value of the international transaction with its associated enterprises are not being disturbed, since assessee has not filed 3CEB report. Penalty proceedings were initiated under section

UTILITY SUPPLY PRIVATE LIMITED,MUMBAI vs. DCIT CENTRAL CIRCLE 8(4) MUMBAI, MUMBAI

In the result, the appeal filed by the Assessee is allowed

1) of section 153 B, except with the prior approval of\nthe Joint Commissioner.\nProvided that nothing contained in this section shall apply\nwhere the assessment or reassessment order, as the case may\nbe, is required to be passed by the Assessing Officer with the\nprior approval of the Commissioner under sub- section (12) of\nsection 144BA.\"\n37. The CBDT

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

Transfer pricing adjustment of ₹5,82,51,214/- in view of determination of Arm's Length Price of international transaction under Section 92CA(3) of the Act by order dated 31st October, 2018, wherein on the international transaction of buy ICICI Bank Ltd; A.Y. 2015-16 back of shares of ₹65,62,50,000/- was upwardly revised

PUBLICIS COMMUNICATIONS P.LTD,MUMBAI vs. DCIT CIR 7(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

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

1,06,57,180/-. As assessee has entered into seven different types of international transactions, the learned Assessing Officer referred to determine its Arm's Length Price to the learned Transfer Pricing Officer. The learned Transfer Pricing Officer found that assessee has entered into different international transactions of receipt and payment of commission/ fees for non media services, client

PUBLICIS COMMUNICATIONS P. LTD,MUMBAI vs. DCIT CIR 7(3)(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

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

1,06,57,180/-. As assessee has entered into seven different types of international transactions, the learned Assessing Officer referred to determine its Arm's Length Price to the learned Transfer Pricing Officer. The learned Transfer Pricing Officer found that assessee has entered into different international transactions of receipt and payment of commission/ fees for non media services, client

PUBLICS COMMUNICATIONS P.LTD,MUMBAI vs. DCIT CIR 6(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

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

1,06,57,180/-. As assessee has entered into seven different types of international transactions, the learned Assessing Officer referred to determine its Arm's Length Price to the learned Transfer Pricing Officer. The learned Transfer Pricing Officer found that assessee has entered into different international transactions of receipt and payment of commission/ fees for non media services, client

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

1) Any income arising from an international transaction shall be computed having regard to the arm's length price. Further, section 92F(v) of the Act defines transaction v) transaction" includes an arrangement understanding or action in concert- TAX DEPARTMENT arrangement, understanding or action is formal or in writing, or (B) whether or not such arrangement, understanding or action

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, appeals filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

transfer pricing order is invalid and thus entire assessment is bad in law as provisions of section 144C(1) of the Act are not applicable to the Appellant, Final assessment order passed is time barred 1. Without prejudice to the above, the Ld. AO erred in not passing the final assessment order within the time limit prescribed under section

DCIT CC 7(2), MUMBAI vs. M/S GAMMON INDIA LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Rahul Chaudhary, Hon'Blem/S. Gammon India Ltd V. Dcit-Central Circle 7(2) 3Rd Floor, Plot No. 3/8 Room No. 655, 6Th Floor Hamilton House, J.N. Heredia Marg Aayakar Bhavan Ballard Estate, Mumbai- 400038 M.K. Road, Mumbai- 400020 Pan: Aaacg3821A (Appellant) (Respondent) Dcit, Central Circle 7(2) V. M/S. Gammon India Ltd Room No. 655, 6Th Floor 1, Gammon House Aayakar Bhavan, M.K. Road Veer Savarkar Marg Mumbai- 400020 Prabhadevi, Mumbai - 400025 Pan: Aaacg3821A (Appellant) (Respondent)

1. a) On the facts and in the circumstances of the case, the Learned Commissioner of Income Tax (Appeals) - 56, Mumbai ["CIT(A)"], erred in confirming additions of Rs. 13,15,590/- towards adjustment of Arm's Length Price ("ALP") on account of Compensation for Corporate and Bank Guarantees issued for Gammon Al Matar Joint Venture ("JV") and Rs.2

GAMMON INDIA LTD,MUMBAI vs. DCIT, CC- 7(2)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Rahul Chaudhary, Hon'Blem/S. Gammon India Ltd V. Dcit-Central Circle 7(2) 3Rd Floor, Plot No. 3/8 Room No. 655, 6Th Floor Hamilton House, J.N. Heredia Marg Aayakar Bhavan Ballard Estate, Mumbai- 400038 M.K. Road, Mumbai- 400020 Pan: Aaacg3821A (Appellant) (Respondent) Dcit, Central Circle 7(2) V. M/S. Gammon India Ltd Room No. 655, 6Th Floor 1, Gammon House Aayakar Bhavan, M.K. Road Veer Savarkar Marg Mumbai- 400020 Prabhadevi, Mumbai - 400025 Pan: Aaacg3821A (Appellant) (Respondent)

1. a) On the facts and in the circumstances of the case, the Learned Commissioner of Income Tax (Appeals) - 56, Mumbai ["CIT(A)"], erred in confirming additions of Rs. 13,15,590/- towards adjustment of Arm's Length Price ("ALP") on account of Compensation for Corporate and Bank Guarantees issued for Gammon Al Matar Joint Venture ("JV") and Rs.2

BANK OF INDIA,MUMBAI vs. ACIT-2(1)(2), MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

Transfer of Undertakings) Act, 1970 and therefore, provisions of section 115- JB of the Act cannot be applied and consequently, tax on book profit (MAT) are not applicable to such banks. Therefore, respectfully following the decision of the Special Bench of the Tribunal (cited supra), Ground No.6, raised in assessee’s appeal, is allowed. 42. In view of our finding

ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

Transfer of Undertakings) Act, 1970 and therefore, provisions of section 115- JB of the Act cannot be applied and consequently, tax on book profit (MAT) are not applicable to such banks. Therefore, respectfully following the decision of the Special Bench of the Tribunal (cited supra), Ground No.6, raised in assessee’s appeal, is allowed. 42. In view of our finding

VODAFONE INDIA LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-8(3)(2), MUMBAI

56,40,90,000/- and re-compute deduction under Section 80IA\nof the Act after including Other Income. Accordingly, Ground No.\n6 raised by the Assessee is allowed.\nGround No. 7\n10. Ground No. 7 raised by the Assessee pertains to transfer pricing\nadjustment.\nGround No. 7.1 and 7.2\n11. Ground No. 7.1 and 7.2 raised by the Assessee

DCIT 8(3)(2), MUMBAI vs. M/S VODAFONE IDEA LIMITED (EARLIER KNOWN AS VODAFONE INDIA LIMITED WHICH NOW STANDS MERGED WITH IDEA CELLULAR LIMITED (ICL) AND CONSEQUENTLY KNOWN AS VODAFONE IDEA LIMITED), MUMBAI

56,40,90,000/- and re-compute deduction under Section 80IA\nof the Act after including Other Income. Accordingly, Ground No.\n6 raised by the Assessee is allowed.\nGround No. 7\n10. Ground No. 7 raised by the Assessee pertains to transfer pricing\nadjustment.\nGround No. 7.1 and 7.2\n11. Ground No. 7.1 and 7.2 raised by the Assessee

TPG GROWTH II MAKETS PTE LTD.,MUMBAI vs. DCIT 4(1)(2), MUMBAI

Accordingly, Ground No. 4 raised by the Appellant is partly allowed

Section 56(viia) of the Act. Therefore, the grounds raised by the Appellant to the extent the same relate to the transfer pricing adjustment on account of purchase of share of QNPL are concerned, the same are dismissed as being infructuous. 28 In terms of the paragraph 26.14 and 27.3 Ground No. 1

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

pricing adjustment was warranted. The decision of CIT(A) to hold LIBOR + 1% as arm’s length rate of interest in respect of loan for AEs is in line with the above decisions of the Tribunal in the case of the Assessee. Accordingly, Ground No. III raised by the Assessee is dismissed. Ground No. IV 6. Ground No. IV raised