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

section 37(1) of the Act. 28. Before we proceed further, let us understand the Lease transaction and its recording in the books as per Accounting Standard, the leases are classified as Finance Lease and Operating Lease. As per the accounting standards a lease is classified as Finance Lease if the lessor transfers substantially all the risks and rewards incidental

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 92C(2) of the IT Act is concerned, we are not in 92C(2) of the IT Act is concerned, we are not in 92C(2) of the IT Act is concerned, we are not in agreement with the working made by the assessee. The agreement with the working made by the assessee. The agreement with the working made

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 92C(2) of the IT Act is concerned, we are not in 92C(2) of the IT Act is concerned, we are not in 92C(2) of the IT Act is concerned, we are not in agreement with the working made by the assessee. The agreement with the working made by the assessee. The agreement with the working made

O.C TANNER INDIA PRIVATE LIMITED ,MUMBAI vs. DCIT, CIRCLE -2(3)(1), MUMBAI

In the result the appeal is, accordingly, he appeal is, accordingly, allowed for statistical allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2021-22 O.C. Tanner India Pvt. Ltd., Dy. Cit, Circle-2(3)(1), No. 2, Lave 7 Tower 2, Phase Ii, 552, 5Th Floor, Aayakar Bhavan, Raiaskaran Techpark Andheri Vs. Maharishi Karve Road, Kurla Road, Andheri East, Mumbai-400020. Sakinaka S.O. Mumbai, Mumbai-400072. Pan No. Aabco 1031 F Appellant Respondent

section 144C(13), upholding the transfer pricing adjustments in full. The additions made in the final assessment are as under: The additions made in the final assessment are as under: The additions made in the final assessment are as under: S. No. Particulars Particulars Amount (INR) Amount (INR) 1 Income as per return Income as per return Nil 2 Unabsorbed

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

COLGATE PALMOLIVE (INDIA) LTD,MUMBAI vs. ASST CIT CIR 15(1)(2), MUMBAI

Accordingly, number 75/M/2018 filed by the assessee for assessment year 2013 – 14 is allowed

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

transfer pricing issues of ₹23,48,70,000/-. v. The learned Assessing Officer further made disallowance under Section 14A read with Rule 8D of the Rule of ₹25,21,108/-. The assessee claimed deduction under Section 80IC of the Act amounting to ₹83

COLGATE PALMOLIVE (INDIA) LTD,MUMBAI vs. ASST CIT CIR 15(1)(2), MUMBAI

Accordingly, number 75/M/2018 filed by the assessee for assessment year 2013 – 14 is allowed

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

transfer pricing issues of ₹23,48,70,000/-. v. The learned Assessing Officer further made disallowance under Section 14A read with Rule 8D of the Rule of ₹25,21,108/-. The assessee claimed deduction under Section 80IC of the Act amounting to ₹83

DCIT 15(1)(2), MUMBAI vs. COLGATE PALMOLIVE (INDIA) LTD., MUMBAI

Accordingly, number 75/M/2018 filed by the assessee for assessment year 2013 – 14 is allowed

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

transfer pricing issues of ₹23,48,70,000/-. v. The learned Assessing Officer further made disallowance under Section 14A read with Rule 8D of the Rule of ₹25,21,108/-. The assessee claimed deduction under Section 80IC of the Act amounting to ₹83

COLGATE -PALMOLIVE (INDIA) LTD,MUMBAI vs. ASST CIT CIR 15(1)(2), MUMBAI

Accordingly, number 75/M/2018 filed by the assessee for assessment year 2013 – 14 is allowed

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

transfer pricing issues of ₹23,48,70,000/-. v. The learned Assessing Officer further made disallowance under Section 14A read with Rule 8D of the Rule of ₹25,21,108/-. The assessee claimed deduction under Section 80IC of the Act amounting to ₹83

JOHNSON &JOHNSON P.LTD,MUMBAI vs. THE DCIT/ACIT/JT/ITO/NFAC, DELHI

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

83,58,812/- under the normal computation provision and computed the book profit under Section 115JB of the Act at ₹221,99,47,090/-. The return of income was picked up for scrutiny. As ITA No.1740/MUM/2021, 2779, 3015/MUM/2016, CO 33/MUM/2017 Johnson & Johnson Private Ltd A.Y. 2011-12, 2016-17 assessee has entered into several international transactions, the learned Assessing Officer

JOHNSON & JOHNSON PVT. LTD.,MUMBAI vs. ACIT - LTU-1, MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

83,58,812/- under the normal computation provision and computed the book profit under Section 115JB of the Act at ₹221,99,47,090/-. The return of income was picked up for scrutiny. As ITA No.1740/MUM/2021, 2779, 3015/MUM/2016, CO 33/MUM/2017 Johnson & Johnson Private Ltd A.Y. 2011-12, 2016-17 assessee has entered into several international transactions, the learned Assessing Officer

ACIT (LTU)-1, MUMBAI vs. JOHNSON & JOHNSON PVT. LTD.(FRMERLY KNOWN AS JOHNSON & JOHNSON LTD.), MUMBAI

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal, Jm

83,58,812/- under the normal computation provision and computed the book profit under Section 115JB of the Act at ₹221,99,47,090/-. The return of income was picked up for scrutiny. As ITA No.1740/MUM/2021, 2779, 3015/MUM/2016, CO 33/MUM/2017 Johnson & Johnson Private Ltd A.Y. 2011-12, 2016-17 assessee has entered into several international transactions, the learned Assessing Officer

DCIT CIR 15(3)(1), MUMBAI vs. TRANSOCEAN DRILLING SERVICES (INDIA) PLT, MUMBAI

In the result, the cross objection of the assessee is partly allowed

83,118 working on Rigs Salary paid by assessee to its employees none of whom are posted ₹ 1,87,45,991 on the Rigs Percentage of salary paid by TDSIPL 2.70% to salary paid by A.Es 9. Refuting the observations of the Transfer Pricing Officer, that rig administrator and rig manager employed by the assessee were earlier

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 Officer has summarized the arguments of revenue and decided as under: - 3.2.4 The arguments of the revenue department are summarized as under :-  The assessee has extended loan to its associated enterprise.  Lending or borrowing is not one of the main businesses of the taxpayer.  The assessee has charged low rate of interest on the above loan facility. ITA.NO

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 provisions do not apply. This was held by the coordinate benches in assessee‟s own case for earlier years and therefore we do not find any infirmity in the order of the learned CIT – A who followed the decision of the coordinate bench in assessee‟s own case. Accordingly, ground number 3 of the appeal of learned

EOS POWER INDIA P.LTD,MUMBAI vs. DCIT RG 8(1), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

83,05,750/- and proposed an adjustment of ₹9,01,52,158/-. The learned Transfer Pricing Officer also held that the above payments resulting into substantial beneficial ownership in the hand of the respondent becomes deemed dividend under Section

EOS POWER INDIA P.LTD,MUMBAI vs. JCIT (OSD) 8(1), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

83,05,750/- and proposed an adjustment of ₹9,01,52,158/-. The learned Transfer Pricing Officer also held that the above payments resulting into substantial beneficial ownership in the hand of the respondent becomes deemed dividend under Section

M/S. LAXMI ORGANIC INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

83,66,17,206\", whereas, on the facts of this case, no additions\nin respect of \"arm's length price adjustments\" could, at all, have been made to\nthe income of the assessee.\n3. On the facts and in the circumstances of the case, and in law and particularly\nas the learned Assessing Officer did not tinker with the claim