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

90,590/-. This return of income was accepted under section 143 (1) of the Act. ITA No. 2002-05/Mum/2023 A.Y. 2012-13, 17-18, 18-19, 19-20 ZENZI PHARMECEUTICAL INDUSTRIES PVT. Ltd. 05. A survey action was conducted on 17.01.2019 in case of Alpha Pharma group of companies. It was found that one Mr. Jacob Sporon Fielder, Dennis

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

90,590/-. This return of income was accepted under section 143 (1) of the Act. ITA No. 2002-05/Mum/2023 A.Y. 2012-13, 17-18, 18-19, 19-20 ZENZI PHARMECEUTICAL INDUSTRIES PVT. Ltd. 05. A survey action was conducted on 17.01.2019 in case of Alpha Pharma group of companies. It was found that one Mr. Jacob Sporon Fielder, Dennis

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

90,590/-. This return of income was accepted under section 143 (1) of the Act. ITA No. 2002-05/Mum/2023 A.Y. 2012-13, 17-18, 18-19, 19-20 ZENZI PHARMECEUTICAL INDUSTRIES PVT. Ltd. 05. A survey action was conducted on 17.01.2019 in case of Alpha Pharma group of companies. It was found that one Mr. Jacob Sporon Fielder, Dennis

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

TATA CONSULTANCY SERRVICES LIMITED,MUMBAI vs. DCIT-1, MUMBAI

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

2 (2.1)  Disallowance of MAT credit to be carried forward – Ground 3 (3.1)  Disallowance of claim of deduction under section 10AA in respect of interest income – Grounds 4 (4.1 & 4.2)  Foreign tax credit as per the provisions of section 90(1)(a)(ii) of the Act Ground 5 (5.1)  Transfer pricing

ACIT(LTU-1), MUMBAI vs. M/S. TCS LTD, MUMBAI

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

2 (2.1)  Disallowance of MAT credit to be carried forward – Ground 3 (3.1)  Disallowance of claim of deduction under section 10AA in respect of interest income – Grounds 4 (4.1 & 4.2)  Foreign tax credit as per the provisions of section 90(1)(a)(ii) of the Act Ground 5 (5.1)  Transfer pricing

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

90,000/- and re-compute deduction under Section 80IA of the Act after including Other Income. Accordingly, Ground No. 6 raised by the Assessee is allowed. Ground No. 7 10. Ground No. 7 raised by the Assessee pertains to transfer pricing adjustment. Ground No. 7.1 and 7.2 11. Ground No. 7.1 and 7.2 raised by the Assessee are general grounds

ATOS INDIA P.LTD,MUMBAI vs. DCIT RG 14(1)(1), MUMBAI

In the result, the appeal filed by the assessee stands allowed on the additional grounds

Bench: Shri G. S. Pannu & Shri Amit Shukla, Jm आयकरअपीलसं./ I.T.A. No. 1795/Mum/2017 (ननधधारणवर्ा / Assessment Year: 2012-13) Dcit-14(1)1), Atos India Pvt. Ltd., Aayakar Bhavan Godrej & Boyce Complex, बनाम/ Mumbai Plant 5, Pirojshanagar, Vs. Lbs Marg, Vikhroli (West), Mumbai-400079 स्थधयीलेखधसं./जीआइआरसं./ Pan No. Aaaco2461J (अपीलधथी/Appellant) (प्रत्यथी / Respondent) : अपीलधथीकीओरसे/ Appellant By : Shri Dhanesh Bafna /Chandni Sha /Riddhi Maru /Kinjal Patel, Ld. Ars प्रत्यथीकीओरसे/Respondent By : Dr. Yogesh Kamat, Ld. Dr सुनवधईकीतधरीख/ 01.06.2022 & : 25.01.2023 Date Of Hearing घोर्णधकीतधरीख / : 23.02.2023 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: 1. The Aforesaid Appeal Has Been Filed By The Assessee Against The Final Assessment Order Passed U/S 143(3) R.W.S. 144C(13) In 2

90,973 Add Transfer Pricing Adjustment 63,87,42,448 Disallowance of 2,92,19,122 depreciation of Goodwill Disallowance u/s 40(a)(ia) 16,65,932 Disallowance due to non 64,45,907 deduction of TDS of foreign Parties Delayed payment of ES1C 1,74,35,513 & PF 228,64,99,895 Less Deduction Deduction

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

90(2) of the Act and hence, beneficial rate as per Article 10(2) of the India- Mauritius tax treaty will not be applicable and hence, erred in subjecting the Appellant to additional income tax in terms of section 115-0 of the Act. (g) erred in observing that tax as per Section

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

2 Transfer pricing adjustments/additions/variations, 2.1 The Id. CIT (A) erred in law, on facts and in circumstances of the case in not deleting the transfer pricing adjustments/additions/variations made by the ld. AO as being bad in law, illegal and unsustainable on the basis of the following grounds, taken singly or cumulatively: Tata Consultancy Services

M/S. ESSAR SHIPPING LTD,MUMBAI vs. DCIT, CIRCLE 5(1)(1), MUMBAI

In the result, the appeal of the assessee is In the result, the appeal of the assessee is dismissed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2021-22 M/S Essar Shipping Ltd., Dy. Cit, Circle 5(1)(1), 5Th Floor, Essar House, 11, Keshav Mumbai/Assessment Unit, Vs. Rao Khadye Marg, Mahalaxmi National Faceless Assessment Mumbai-400034. Centre, Room No. 568, Aayakar Bhavan, M.K. Road, Mumbai-400020. Pan No. Aacce 3707 D Appellant Respondent

section 133(6) of the Act gathered information ct gathered information from various banks with respect to guarantee commission charged from various banks with respect to guarantee commission charged from various banks with respect to guarantee commission charged by them. A list of information gathered is reproduced as under: by them. A list of information gathered is reproduced as under

HSBC SECURITIES AND CAPITAL MARKETS (I) P.LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

transfer pricing study report prepared and maintained as per section 92D of the Act read with Rule 10D of the Income-tax Rules, 1962 ('the Rules"). On the facts and in the circumstances of the case and in law, the TPO/AO erred in resorting to cherry-picking of comparables based on conjectures and surmises with complete disregard to the differences

DCIT 4(1), MUMBAI vs. HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P.LTD, MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

transfer pricing study report prepared and maintained as per section 92D of the Act read with Rule 10D of the Income-tax Rules, 1962 ('the Rules"). On the facts and in the circumstances of the case and in law, the TPO/AO erred in resorting to cherry-picking of comparables based on conjectures and surmises with complete disregard to the differences

HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P. LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

transfer pricing study report prepared and maintained as per section 92D of the Act read with Rule 10D of the Income-tax Rules, 1962 ('the Rules"). On the facts and in the circumstances of the case and in law, the TPO/AO erred in resorting to cherry-picking of comparables based on conjectures and surmises with complete disregard to the differences

DCIT 1(1), MUMBAI vs. HSBC ASSET MANAGEMENT (I) P. LTD, MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

90,434. In conformity, the AO passed the assessment order under section 143 r/w section 144C(3)(a) of the Act. In appeal, the learned CIT(A) vide impugned order, inter-alia, upheld the transfer pricing adjustment on account of payment made for availing Investment Advisory Services. Being aggrieved, the assessee is in appeal before us. 26. We have considered

HSBC ASSET MANAGEMENT (INDIA) P.LTD,MUMBAI vs. ASST CIT 1(1), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

90,434. In conformity, the AO passed the assessment order under section 143 r/w section 144C(3)(a) of the Act. In appeal, the learned CIT(A) vide impugned order, inter-alia, upheld the transfer pricing adjustment on account of payment made for availing Investment Advisory Services. Being aggrieved, the assessee is in appeal before us. 26. We have considered

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

90 ITR 236, held that revised return must be considered as it was originally filed. It is the duty of the AO to allow legal claim if made before him and provided it all the conditions of the claim. Nowhere the AO has alleged that assessee has failed to comply with any of the conditions of Section 80IB(10), only

M/S. ATUL PROJECTS INDIA PVT LTD.,,MUMBAI vs. DCIT- 9(1)(2), ( NOW JURIDICTION WITH DC CC-2(4), MUMBAI

Bench: Ms. Kavitha Rajagopal () & Ms. Padmavathy S. ()

90 ITR 236, held that revised return must be considered as it was originally filed. It is the duty of the AO to allow legal claim if made before him and provided it all the conditions of the claim. Nowhere the AO has alleged that assessee has failed to comply with any of the conditions of Section 80IB(10), only