KBS CREATION LTD ,MUMBAI vs. DY COMM. OF INCOME TAX -CIRCLE 24(1), MUMBAI

In the result, the concise ground of appeal of the assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

transfer pricing provisions is bad in law. The assessee is also stated that AO referred the matter to TPO in respect of SDT without demonstrating that business affairs of the assessee with the closely connected entity has been so arranged having risen to more than the ordinary profit of the assessee. The assessee by refereeing sub-section (10) of section

ACIT (CIR.) - 6(1)(2), MUMBAI vs. BHANDAR POWER LTD., MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2013-14 Assistant Commissioner Of Bhandar Power Ltd. Income Tax, 14Th Floor, Essar House, Circle 6(1)(2), 11, K. K. Marg, Mahalaxmi, Vs. Mumbai Mumbai - 400034 (Pan: Aaacb6693B) (Appellant) (Respondent) Present For: Assessee : Shri Vijay Mehta, Fca & Shri Tarang Mehta, Advocate Revenue : Shri Satyaprakash R. Singh, Cit Dr Date Of Hearing : 29.07.2025 Date Of Pronouncement : 13.10.2025 O R D E R Per Girish Agrawal: This Appeal Filed By The Revenue Is Against The Order Of Ld. Cit(A), Delhi, Vide Order Dated 25.01.2018 Passed Against The Assessment Order By Ito 6(1)(4), Mumbai, U/S. 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”), Dated 20.12.2016, For Assessment Year 2013-14. 2. Grounds Taken By The Revenue Are Reproduced As Under: 1. On The Facts & In The Circumstances Of The Case & In Law, The Cit(A) Is Not Justified In Deleting The Disallowance Of Deduction U/S 80Ia Of The Income Tax Act Of Rs. 203,13,43,740/-Without Considering The Fact That The Provisions Of Section 801A(10) Is Clearly Attracted In This Case Hence The Assessee Is Not Eligible For Claiming Deduction U/S 801A Of The Income Tax Act.

transfer pricing provision brought under the Act to cover SDT for determining its ALP, which undisputedly in the present case of the assessee, has been held to be at ALP by the ld. TPO vide order passed u/s.92CA(3) already extracted above. 9.1. At this juncture, it is extremely important to understand the nuances of power business and its regulatory

HINDUSTHAN UNILEVER LTD,MUMBAI vs. DY CIT RANGE 1(1)(2), MUMBAI

In the result, the appeal filed by the assessee and Revenue are partly\nallowed

80I of the Act and restored\nthe issue to the file of AO with the instruction to follow the directions given\nin AY 2006-07 with regard to allocation of common expenses incurred at\nthe Head Office. It is also pertinent to note that the Co-ordinate Bench\nhas also accepted the plea of the assessee that certain “common income

DCIT 1 (1)(2), MUMBAI vs. M/S HINDUSTAN UNILEVER LTD., MUMBAI

In the result, the appeal filed by the assessee and Revenue are partly\nallowed

80I of the Act and restored\nthe issue to the file of AO with the instruction to follow the directions given\nin AY 2006-07 with regard to allocation of common expenses incurred at\nthe Head Office. It is also pertinent to note that the Co-ordinate Bench\nhas also accepted the plea of the assessee that certain “common income

DY CIT CC 1(4), MUMBAI vs. M/S ULTRATECH CEMENT LTD , MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

80I-A by sections 80-IA and 80-IB of the Income-tax Act. The substituted section 80-IA, inter alia, in sub-section (12) provides that where any undertaking of an Indian company entitled to the deduction under this section is transferred to another Indian company in a scheme of amalgamation or demerger before the expiry of the specified

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

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

80I-A by sections 80-IA and 80-IB of the Income-tax Act. The substituted section 80-IA, inter alia, in sub-section (12) provides that where any undertaking of an Indian company entitled to the deduction under this section is transferred to another Indian company in a scheme of amalgamation or demerger before the expiry of the specified

DCIT , CC- 2(4), MUMBAI vs. MACELODS PHARMACEUTICALS LIMITED, MUMBAI

In the result, the appeal of the assessee and the Revenue for the appeal of the assessee and the Revenue for the appeal of the assessee and the Revenue for A

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

80I deduction under section 80IB / 80IC for allocation of re C for allocation of research and development expenses and disallowance of deduction u/s 80IC for development expenses and disallowance of deduction u/s 80IC for development expenses and disallowance of deduction u/s 80IC for inter unit transfer of material. inter unit transfer of material. 11. In this year also also

MACLEODS PHARMACEUTICALS LIMITED,MUMBAI vs. DCIT , CC- 2(4), MUMBAI

In the result, the appeal of the assessee and the Revenue for the appeal of the assessee and the Revenue for the appeal of the assessee and the Revenue for A

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

80I deduction under section 80IB / 80IC for allocation of re C for allocation of research and development expenses and disallowance of deduction u/s 80IC for development expenses and disallowance of deduction u/s 80IC for development expenses and disallowance of deduction u/s 80IC for inter unit transfer of material. inter unit transfer of material. 11. In this year also also

HINDALCO INDUSTRIES LTD,MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

In the result, the appeal of the learned Assessing Officer is partly allowed

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm Addl Cit Range 6(3) M/S Hindalco Industries Ltd 5Th Floor, Room No. 522, 3Rd Floor, Century Bhavan, Dr A.B. Vs. Rd, Worli Aayakar Bhavan,M.K. Road, Mumbai-400 030 Mumbai-20 (Appellant) (Respondent) Dcit, Cir- 6(3) M/S Hindalco Industries Ltd 5Th Floor, Room No. 522, 3Rd Floor, Century Bhavan, Dr A.B. Vs. Aayakar Bhavan,M.K. Road, Rd, Worli Mumbai-400 030 Mumbai-20 (Appellant) (Respondent) Pan No. Aaach1201R

80I-A @ 16% of investment, which was considered reasonable rate of return in case of Power Generation Plants by Ministry of Power while fixing tariff for electricity. 10. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT (A) was justified in allowing deduction u/s. 80IA in respect of Foil Plant at Silvasaa

ACIT CIR 6(3), MUMBAI vs. HINDALCO INDUSTRIES LTD, MUMBAI

In the result, the appeal of the learned Assessing Officer is partly allowed

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm Addl Cit Range 6(3) M/S Hindalco Industries Ltd 5Th Floor, Room No. 522, 3Rd Floor, Century Bhavan, Dr A.B. Vs. Rd, Worli Aayakar Bhavan,M.K. Road, Mumbai-400 030 Mumbai-20 (Appellant) (Respondent) Dcit, Cir- 6(3) M/S Hindalco Industries Ltd 5Th Floor, Room No. 522, 3Rd Floor, Century Bhavan, Dr A.B. Vs. Aayakar Bhavan,M.K. Road, Rd, Worli Mumbai-400 030 Mumbai-20 (Appellant) (Respondent) Pan No. Aaach1201R

80I-A @ 16% of investment, which was considered reasonable rate of return in case of Power Generation Plants by Ministry of Power while fixing tariff for electricity. 10. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT (A) was justified in allowing deduction u/s. 80IA in respect of Foil Plant at Silvasaa

ACIT-1(1)(1), MUMBAI vs. M/S. HINDUSTAN PETROLEUM CORPORATION LTD, , MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

transfer was calculated at Rs. 1204.19 crore reducing the net profit of the VERP II of Rs 664,51,07,775/-. The ld CIT(A) while considering this ground of appeal concluded as under: “10.6 I have carefully considered the submission of ld AR and gone through the facts brought before me. As I filed, the AO has mentioned

ACIT-1(1)(1), MUMBAI vs. M/S. HINDUSTAN PETROLEUM CORPORATION LTD,, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

transfer was calculated at Rs. 1204.19 crore reducing the net profit of the VERP II of Rs 664,51,07,775/-. The ld CIT(A) while considering this ground of appeal concluded as under: “10.6 I have carefully considered the submission of ld AR and gone through the facts brought before me. As I filed, the AO has mentioned

ACIT (LTU-1), MUMBAI vs. BAJAJ HOLDINGS & INVESTMENT LTD, MUMBAI

In the result, cross objection filed by the assessee is partly allowed

Bench: Shri Kuldip Singh, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bleacit (Ltu-1) V. Bajaj Holdings Investment Ltd 29Th, Floor, Centre-1 226, Bajaj Bhavan, 2Nd Floor World Trade Centre Jamnalal Bajaj Marg, Nariman Point Mumbai- 400021 Cuffe Parade, Mumbai- 400075 Pan: Aaacb3370K (Appellant) (Respondent) C.O.No. 96/Mum/2002 [Arising Out Of Ita No.5030/Mum/2001 (A.Y: 1997-98)] Bhajaj Auto Limited V. Acit (Ltu-1) Bhajaj Bhavan 29Th, Floor, Centre-1 Nariman Point World Trade Centre Mumbai - 400020 Cuffe Parade, Mumbai- 400075 Pan: Aaacb3370K (Appellant) (Respondent) Assessee Represented By : Shri Percy Pardiwala& Ms. Vasanti Patel Department Represented By : Shri Rahul Kumar & Shri Vranda U Matkarri

80I & 80IA on the profits of the respective units without deducting depreciation of the individual units. The issue is covered in favour of the revenue and against the assessee by the earlier decisions of the Tribunal for assessment years 1988-89 to 1992-93 in assessee’s own case. Respectfully following the same we allow this ground of the revenue