THE DY. DIT (IT) 1(2), MUMBAI vs. ATL MEDIA LIMITED (AS A SUCCESSOR TO EXPAND FAST HOLDINGS LTD.), MUMBAI

Transfer Pricing Officer (TPO). The Id. Departmental Representative supported the order of CIT(A) to the extent that advertisement revenue and subscription revenue from operations in India is liable to be taxed in India. 12. We have heard the submissions made by rival sides and have examined the orders of authorities below. The assessee, tax resident of BVI is engaged

ATL MEDIA LIMITED (AS A SUCCESSOR TO EXPAND FAST HOLDINGS LTD.),MUMBAI vs. THE ITO (IT) 3(1), MUMBAI

Appeals of the assessee are partly allowed and that of the\nRevenue is dismissed

Transfer Pricing Officer (TPO).\nThe Id. Departmental Representative supported the order of CIT(A) to the\nextent that advertisement revenue and subscription revenue from operations\nin India is liable to be taxed in India.\n12. We have heard the submissions made by rival sides and have examined\nthe orders of authorities below. The assessee, tax resident of BVI is engaged

ATL MEDIA LIMITED (AS A SUCCESSOR TO EXPAND FAST HOLDINGS LTD.),MUMBAI vs. DDIT (I.T.) - 1(2), MUMBAI

Appeals of the assessee are partly allowed and that of the\nRevenue is dismissed

Transfer Pricing Officer (TPO).\nThe Id. Departmental Representative supported the order of CIT(A) to the\nextent that advertisement revenue and subscription revenue from operations\nin India is liable to be taxed in India.\n12. We have heard the submissions made by rival sides and have examined\nthe orders of authorities below. The assessee, tax resident of BVI is engaged

ADIT (I.T) - 1(2), MUMBAI vs. ATL MEDIA LIMITED (AS A SUCCESSOR TO EXPAND FAST HOLDINGS LTD.), MUMBAI

Transfer Pricing Officer (TPO).\nThe Id. Departmental Representative supported the order of CIT(A) to the\nextent that advertisement revenue and subscription revenue from operations\nin India is liable to be taxed in India.\n12.\nWe have heard the submissions made by rival sides and have examined\nthe orders of authorities below. The assessee, tax resident of BVI is engaged

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

sections": [ "90", "92C(3)", "92CA(1)", "37(1)", "80G", "14A", "135", "40(a)(i)", "40(a)(ia)", "115JB", "10AA", "195", "10A", "9(1)(vi)", "13(2)", "13(3)", "9(1)(iv)", "Article 25", "Article 7", "Article 12" ], "issues": "The appeals raised multiple issues including transfer pricing

NAN LIAN SHIP MANAGEMENT LLC,MUMBAI vs. JCIT (OSD)(INT TAX)-3(3)(1), MUMBAI

In the result, the appeal filed by the assessee stands allowed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blenan Lian Ship Management Llc V. Jcit (Osd) (Intl. Tax) – 3(3)(1) 303, The Atrium Center Room No. 1630, 16Th Floor Khalid Bin Al Walled Road Air India Building Nariman Point, Mumbai – 400 021 Bur Dubai Po Box No. 82289 Dubai, Uae Nan Lian Ship Management Llc C/O. Nishit M. Gandhi Chambers 2 & 3, Ground Floor Cosmos Trade Place, Khatau Building Alkesh Dinesh Mody Marg Opp. Bombay Stock Exchange Fort, Mumbai - 400001 Pan: Aagcn0478E (Appellant) (Respondent)

vi) reads as under:- (iva) the use or right to use any industrial, commercial or scientific equipment but not including the amounts referred to in section 44B. 11. What is to be seen is, whether the assessee has given use or right to use the ship to PSCL and the payment received for time charter services falls within the ambit

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

9, 2020 for AY 2014-15 which could be rectified vide an order under section 154 of the Act and is not a subject matter of review under section 263 of the Act. GENERAL 10. The order of the Pr. CIT should be suitably modified by granting the aforesaid proper and consequential reliefs to the Appellant. 11. The Appellant craves

INDIA MEDTRONIC P LTD,MUMBAI vs. ADDL/JT/DY/ASSTT/CIT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal of the assessee is allowed on legal ground

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI PRASHANT MAHARISHI (Accountant Member)

1 November 2019, given that Section 92CA(3A) of the Act requires the transfer pricing order to be passed at any time before sixty days prior to the timeline for the assessment order, it is implied that such order must precede 31st December by not less than sixty days, and accordingly, the order passed by learned The is time barred

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

vi) of the Act.?" 9. "Whether, on the facts and in the circumstances of the case and in low, the Ld. CITIA) has erred in deleting the disallowance of Rs. 11,99,000/- made under section 144 of the Act, despite the fact that the Assessing Officer had explicitly recorded dissatisfaction regarding the correctness of the assessee's claim before

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

9 e. the extent to which reliable and accurate adjustments can be the extent to which reliable and accurate adjustments can be the extent to which reliable and accurate adjustments can be made to account for dif made to account for differences, if any, between the ferences, if any, between the international international transaction transaction

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

9% 1. The participation in surplus fund, The said preference Shares shall in winding up be entitled to rank, as 1. The participation in surplus assets and regards repayment of capital and arrears profits, on winding-up which may remain after the entire capital has been repaid off dividend, whether declared or not, up to the commencement of the winding

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

In the result, appeal by assessee is allowed

Transfer 1 day Pricing Order for AY 2011-12 10. Draft Assessment order passed 02.03.2015 on: 11. DRP Directions passed on: 29.12.2015 12. Final Assessment order passed 26.02.2016 on: 14. In view of the aforesaid chronology of events, the ld. Counsel submitted that Section 92CA(3) provides that the ld. TPO order should be passed before 60 days prior

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

In the result, appeal by assessee is allowed

Transfer 1 day Pricing Order for AY 2011-12 10. Draft Assessment order passed 02.03.2015 on: 11. DRP Directions passed on: 29.12.2015 12. Final Assessment order passed 26.02.2016 on: 14. In view of the aforesaid chronology of events, the ld. Counsel submitted that Section 92CA(3) provides that the ld. TPO order should be passed before 60 days prior

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

price which is one of the two recognized methods of valuation of the closing stock. 7.5 It cannot be the effect of the RBI guidelines that the total income for the purpose of Income Tax has to be computed in accordance with the enjoinment of these guidelines. These are only meant as guiding factors to determine the commercial profit

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

price which is one of the two recognized methods of valuation of the closing stock. 7.5 It cannot be the effect of the RBI guidelines that the total income for the purpose of Income Tax has to be computed in accordance with the enjoinment of these guidelines. These are only meant as guiding factors to determine the commercial profit

CONCENTRIX SERVICES INDIA PRIVATE LIMITED (FORMERLY KNOWN AS MINACS PRIVATE LIMITED, MINACS LIMITED & ADITY BIRLA MINACS WORLDWIDE LIMITED ),MUMBAI vs. JOINT COMMISSIONER OF IT (OSD)10(2)(2)ASSISTANT COMMISSIONER OF INCOME TAX-9(2)(2), MUMBAI

VI: GENERAL The Appellant craves leave to add, to amend, to alter and/ or to & ITA No. 5823/Mum/2019 AY 2011-12 & 2012-13 & AY 2013-14 delete all or any of the above grounds of appeal.” 2.3. The Revenue has raised the following grounds of appeal in ITA No. 5280/Mum/2017: “1) On the facts and in law, the Ld.CIT

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

VI: GENERAL The Appellant craves leave to add, to amend, to alter and/ or to & ITA No. 5823/Mum/2019 AY 2011-12 & 2012-13 & AY 2013-14 delete all or any of the above grounds of appeal.” 2.3. The Revenue has raised the following grounds of appeal in ITA No. 5280/Mum/2017: “1) On the facts and in law, the Ld.CIT

ATOMSTROYEXPORT ,MUMBAI vs. DCIT (IT)CIRCLE -1(1)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

Prices in each of the segment are also different. 18. The very fact that in the contract, the supply segment and service segment have been specified in different parts of the contract is a pointer to show that the liability of the appellant thereunder would also be different. 19. The contract indisputably was executed in India. By entering into