STRIDES ARCOLAB LTD,NAVI MUMBAI vs. DCIT CIR 15(3)(2), MUMBAI

The appeal of the assessee is allowed

Bench: Amit Shukla () & Ms. Padmavathy S. ()

price at which the transaction is to take place and accordingly the same is within arm‟s length. 9.4.4 The Ld.DR, on the other hand, supported the orders of the authorities below. He further submitted that the assessee has not benchmarked this transaction in the first place. The TPO has determined the value by NAV method and determined the adjustment

OMNI ACTIVE HEALTH TECHNOLOGIES LTD,MUMBAI vs. ACIT 7(3)(1), MUMBAI

The appeal stands partly allowed in terms of our above order

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./ I.T.A. No.7284/Mum/2018 ("नधा"रणवष"/ Assessment Year: 2014-15) Omni Active Health Technologies Ltd Acit-7(3)(1) T-8B, 5Th Floor, Phoenix House, A-Wing Room No.142 G बनाम/ Phoenix Mill Compound Aaykar Bhavan, M.K. Road Vs. 462 Senapati Bapat Marg, Lower Parel Mumbai-400 020 Mumbai-400 013. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcp-2914-Q (अपीलाथ"/Appellant) (""यथ"/ Respondent) : अपीलाथ"क"ओरसे/ Appellant By : Ms. Urvi A. Mehta-Ld.Ar ""यथ"क"ओरसे/Respondent By : Shri Rajeev Harit -Ld. Cit-Dr सुनवाईक"तारीख/ : 07/02/2020 Date Of Hearing घोषणाक"तारीख/ : 26/05/2020 Date Of Pronouncement आदेश/ O R D E R Manoj Kumar Aggarwal (): - 1.1 Aforesaid Appeal By Assessee For Assessment Year [In Short Referred To As ‘Ay’] 2014-15 Contest Certain Additions / Adjustment Made In Final Assessment Order Dated 17/10/2018 Passed By Ld. Assistant Commissioner Of Income Tax-7(3)(1), Mumbai [Ao] U/S. 143(3) R.W.S. 144C(13), Pursuant To The Directions Of Dispute Resolution Panel-2, Mumbai

Transfer Pricing Officer in this case. The case law referred by the ld. Departmental Representative are distinguishable on the facts of this case. Upon perusal of the same, we find that TNMM method as adopted by the assessee in earlier years has constantly been accepted to be the Most Appropriate Method as against the observation of Ld. TPO that

SWARAN NADHAN SALARIA,MUMBAI vs. DICT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

SWARAN NADHAN SALARIA,MUMBAI vs. DCIT CENTRAL CIRCLE 1(2), MUMBAI

In the result all In the result all appeals of the assesses from AY 2014

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

section 271(1)(c) of the Act are fulfilled. In view of the above, the penalty in respect of interest and the excess the penalty in respect of interest and the excess the penalty in respect of interest and the excess depreciation is also cancelled cancelled. The relevant grounds of the appeal of The relevant grounds of the appeal

M/S. ACIT 2(3), MUMBAI vs. RAYMOND LTD., MUMBAI

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

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Raymond Limited V. Addl. Cit– Range 2(3) New Hind House 5Th Floor, Aayakar Bhavan Narottam Morarjee Marg M.K. Road, Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent) Acit–2(3) V. M/S. Raymond Limited Room No. 555 New Hind House Aayakar Bhavan, Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent)

5A) refers to the transfer before the expiry of the period in a scheme of demerger. There is no clause in the section which debars the assessee from claiming the expenses as a write off on sale of the undertaking. We, therefore, do not find any reason for declining the claim of the assessee.” 7.3 Let us consider this issue

RAYMOND LIMITED,MUMBAI vs. ADDL C.I.T. -2(3), MUMBAI

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

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Raymond Limited V. Addl. Cit– Range 2(3) New Hind House 5Th Floor, Aayakar Bhavan Narottam Morarjee Marg M.K. Road, Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent) Acit–2(3) V. M/S. Raymond Limited Room No. 555 New Hind House Aayakar Bhavan, Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent)

5A) refers to the transfer before the expiry of the period in a scheme of demerger. There is no clause in the section which debars the assessee from claiming the expenses as a write off on sale of the undertaking. We, therefore, do not find any reason for declining the claim of the assessee.” 7.3 Let us consider this issue

MR. SATYA PRAKASH SINGH,MUMBAI vs. ITO, WARD-28(3)(1), VASHI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

section (3). (5A) Where the Transfer Pricing Officer gives effect to an order or direction under section 263 by an order

ITO-28(3)(1), MUMBAI, MUMBAI vs. SATYA PRAKASH SINGH, MUMBAI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

section (3). (5A) Where the Transfer Pricing Officer gives effect to an order or direction under section 263 by an order

VANRAJ RANCHHODDAS MERCHANT (THROUGH LEGAL HEIR HARSHIT MERCHANT),MUMBAI vs. ITO WARD 30(1)(1), MUMBAI

In the result the appeal of the assessee is partly allowed

price paid or promised. A lease\ncreates a proprietary interest in immovable property, though\nlimited in duration. By virtue of section 108(j) of the Act, a\nleasehold interest is, unless expressly restricted, assignable, sub-\nleasable and mortgageable, and is heritable for the unexpired\nterm. A long-term leasehold, particularly in the context of\nindustrial land allotted by statutory authorities

STRIDES ARCOLAB LTD,NAVI MUMBAI vs. ASST CIR 10(3), MUMBAI

In the result, the appeals assessee is partly allowed for statistical purposes

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Strides Shasun Limited The Asst. Commissioner Of (Formerly Known As Strides Income Tax Circle 10(3), Arcolab Limited) 201, Mumbai Vs. Devavrata, Sector 17, Vashi, Navi Mumbai-400 703 Appellant .. Respondent Pan No. Aadcs8104P

5A) and Form No. 3CM and come to the conclusion that a plain and harmonious reading of Rule and Form clearly suggests that once facility is approved, the entire expenditure so incurred on development of R&D facility has to be allowed for weighted deduction as provided by Section 35(2AB). The Tribunal has also considered the legislative intention behind

DCIT- CC- 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

section 35(2AB) in respect of R&D expenses incurred by the assessee amounting to Rs. 7,50,139/-, on the basis of report received from Department of Scientific and Industrial Research (DSIR). 109. The assessee has in-house Research and Development facilities at three locations, Khor (MP), Kharia Khangar (Rajashthan) and Taloja (Maharashtra) which are approved by the DSIR

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

section 35(2AB) in respect of R&D expenses incurred by the assessee amounting to Rs. 7,50,139/-, on the basis of report received from Department of Scientific and Industrial Research (DSIR). 109. The assessee has in-house Research and Development facilities at three locations, Khor (MP), Kharia Khangar (Rajashthan) and Taloja (Maharashtra) which are approved by the DSIR

DCIT -CC-1(4), MUMBAI vs. ULTRATECH CEMENT LTD. , MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

section 35(2AB) in respect of R&D expenses incurred by the assessee amounting to Rs. 7,50,139/-, on the basis of report received from Department of Scientific and Industrial Research (DSIR). 109. The assessee has in-house Research and Development facilities at three locations, Khor (MP), Kharia Khangar (Rajashthan) and Taloja (Maharashtra) which are approved by the DSIR

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

section 35(2AB) in respect of R&D expenses incurred by the assessee amounting to Rs. 7,50,139/-, on the basis of report received from Department of Scientific and Industrial Research (DSIR). 109. The assessee has in-house Research and Development facilities at three locations, Khor (MP), Kharia Khangar (Rajashthan) and Taloja (Maharashtra) which are approved by the DSIR

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

section 35(2AB) in respect of R&D expenses incurred by the assessee amounting to Rs. 7,50,139/-, on the basis of report received from Department of Scientific and Industrial Research (DSIR). 109. The assessee has in-house Research and Development facilities at three locations, Khor (MP), Kharia Khangar (Rajashthan) and Taloja (Maharashtra) which are approved by the DSIR

DCIT - CC - 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

section 35(2AB) in respect of R&D expenses incurred by the assessee amounting to Rs. 7,50,139/-, on the basis of report received from Department of Scientific and Industrial Research (DSIR). 109. The assessee has in-house Research and Development facilities at three locations, Khor (MP), Kharia Khangar (Rajashthan) and Taloja (Maharashtra) which are approved by the DSIR