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

92D, rule 10D(I), Rule 10B(2), Rule 10C and Rule 10C and 10B(1)(e), it is clear that the law mandates the 10B(1)(e), it is clear that the law mandates the assessee to choose any of the method see to choose any of the method described in section 92C(1) as described in section 92C(1

DY.CIT 7(1) (1) , MUMBAI vs. M/S. MATTEL TOYS (INDIA) PVT. LTD, MUMBAI

In the result, the appeal of the Revenue is dismissed, whereas,

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2012-13 Dy. Cit, Circle-7(1)(1), M/S Mattel Toys (India) Pvt. Ltd., Room No. 126, 1St Floor, Phoenix House, B-Wing, 4Th Floor, Vs. Aayakar Bhavan, M.K. Road, 462, Senapati Bapat Marg, Lower Mumbai-400020. Parel, Mumbai-400013. Pan No. Aaccm 2563 P Appellant Respondent

price. 55. Section 928 defines 'international transaction' as 55. Section 928 defines 'international transaction' as 55. Section 928 defines 'international transaction' as under: "Meaning of international transaction. 928.(1) For under: "Meaning of international transaction. 928.(1) For under: "Meaning of international transaction. 928.(1) For the purposes of this section and sections 92,92C,92D the purposes of this

TELEPERFORMANCE GLOBAL SERVICES P. LTD.,MUMBAI vs. THE ADDL/JT/DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT DENTRE,, DELHI

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

Bench: Us, First We Would Like To Address Ground No.2 Wherein The Assessee Has Submitted That The Order Of The Ld. Tpo U/S.92Ca(3) Of The Act Dated 01/11/2019 Is Barred By Limitation & Hence, Invalid In Law.

Transfer Pricing Officer. 92CA. (1) ……………………………………………………………………………………… (2) …………………………………………………………………………………….. (2A) …………………………………………………………………………………….. (2B) …………………………………………………………………………………….. (2C) …………………………………………………………………………………….. (3) On the date specified in the notice under sub-section (2), or as soon thereafter as may be, after hearing such evidence as the assessee may produce, including any information or documents referred to in sub-section (3) of section 92D

DCIT CIR 3(3), MUMBAI vs. SIRO CLINPHARM P.LTD, MUMBAI

In the result, appeal of the assessee is allowed

transfer pricing set out in the Income-tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arising from an international transaction shall be computed having regard to the arm's length price". In order to attract the arm's length price adjustment, therefore, a transaction

SIRO CLINPHARM P. LTD,MUMBAI vs. DCIT CIR 3(3), MUMBAI

In the result, appeal of the assessee is allowed

transfer pricing set out in the Income-tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arising from an international transaction shall be computed having regard to the arm's length price". In order to attract the arm's length price adjustment, therefore, a transaction

VIACOM 18 MEDIA P.LTD,MUMBAI vs. ADDL CIT 11(1), MUMBAI

In the result, assessee‟s appeal for A

Bench: Shri C.N. Prasad & Shri S. Rifaur Rahman

section 40(a)(ia) of the Act at ` 5,68,97,341. 144. The assessee is engaged in the business of broadcasting and telecasting of television channels. Accordingly, it incurs up–linking charges in connection with its broadcasting business. For the assessment year 2009-10, the assessee paid ` 5,68,97,341, towards up–linking fees to Television Eighteen India

TUBACEX PRAKASH INDIA P. LTD.,MUMBAI vs. ADDL/JT/CY/ASSTT/CIT/ ITO, NATIONAL E-ASSESSMENT CENTRE,, DELHI

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

Bench: Us, First We Would Like To Address Ground No.3 Wherein The Assessee Has Submitted That The Order Of The Ld. Tpo U/S.92Ca(3) Of The Act Dated 01/11/2019 Is Barred By Limitation & Hence, Invalid In Law.

Transfer Pricing Officer. 92CA. (1) ……………………………………………………………………………………… (2) …………………………………………………………………………………….. (2A) …………………………………………………………………………………….. (2B) …………………………………………………………………………………….. (2C) …………………………………………………………………………………….. (3) On the date specified in the notice under sub-section (2), or as soon thereafter as may be, after hearing such evidence as the assessee may produce, including any information or documents referred to in sub-section (3) of section 92D

FRANKLIN TEMPLETON INTERNATIONAL SERVICES (INDIA) P.LTD,MUMBAI vs. DCIT CIR 3(1), MUMBAI

In the result, appeals filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

1- Transfer Pricing Adjustment relating to Data Processing Services Rs. 11,97,15,774 and Software Services Rs. 6,34,82,242 1.1. On the facts and in the circumstances of the case, the learned Transfer Pricing Officer ('TPO') and the learned Assessing Officer ('AO') under the directions of the Hon'ble Dispute Resolution Panel ('DRP') erred on facts

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

Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD Guidelines'), secondary adjustment is an adjustment that arises from imposing tax on a constructive transaction that some countries will assert under their domestic legislation after having proposed a primary adjustment in order to make the actual allocation of profits consistent with the primary adjustment. Secondary transactions may take the form

DCIT RG 8(2) (OSD), MUMBAI vs. HSBC PROFESSIONAL SERVICES (I) P. LTD, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2006-07 Jcit-8(2), (Osd), M/S Hsbc Professional Services Room No. 216-A, Aayakar (India) Pvt. Ltd., Bhavan, M.K. Road, Vs. Kamla Bhavan, Swami Nityanand Mumbai-400020. Marg, Andheri (East), Mumbai-400069. Pan No. Aabch 0705 R Appellant Respondent Assessment Year: 2006-07 Hsbc Professional Services The Deputy Commissioner Of (India) Private Limited, Income-Tax Range 8(2), 6Th Floor, Shiv Building, Cts Vs. Mumbai. No. 139 & 140B, Sahar Road, Vile Parle (East), Mumbai-400057. Pan No. Aabch 0705 R Appellant Respondent Assessee By : Mr. Niraj Sheth, Ar Revenue By : Mr. V.K. Agarwal, Dr Date Of Hearing : 01/07/2022 Date Of Pronouncement : 13/09/2022

1. The learned Commissioner of Income learned Commissioner of Income-tax (Appeals) tax (Appeals)-15, Mumbai ('CIT Mumbai ('CIT-A') erred on facts and in law in allowing only A') erred on facts and in law in allowing only partial relief in relation to the transfer pricing adjustment partial relief in relation to the transfer pricing adjustment partial relief

HSBC PROFESSIONAL SERVICES (I) P. LTD,MUMBAI vs. DCIT RG 8(2), MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2006-07 Jcit-8(2), (Osd), M/S Hsbc Professional Services Room No. 216-A, Aayakar (India) Pvt. Ltd., Bhavan, M.K. Road, Vs. Kamla Bhavan, Swami Nityanand Mumbai-400020. Marg, Andheri (East), Mumbai-400069. Pan No. Aabch 0705 R Appellant Respondent Assessment Year: 2006-07 Hsbc Professional Services The Deputy Commissioner Of (India) Private Limited, Income-Tax Range 8(2), 6Th Floor, Shiv Building, Cts Vs. Mumbai. No. 139 & 140B, Sahar Road, Vile Parle (East), Mumbai-400057. Pan No. Aabch 0705 R Appellant Respondent Assessee By : Mr. Niraj Sheth, Ar Revenue By : Mr. V.K. Agarwal, Dr Date Of Hearing : 01/07/2022 Date Of Pronouncement : 13/09/2022

1. The learned Commissioner of Income learned Commissioner of Income-tax (Appeals) tax (Appeals)-15, Mumbai ('CIT Mumbai ('CIT-A') erred on facts and in law in allowing only A') erred on facts and in law in allowing only partial relief in relation to the transfer pricing adjustment partial relief in relation to the transfer pricing adjustment partial relief

DEPUTY COMMISSIONER OF INCOME TAX,(IT)-4(2)(1), MUMBAI vs. M/S. SIEMENS, MUMBAI

In the result, the appeal by the Revenue is dismissed

Bench: Shri Amarjit Singhshri Sandeep Singh Karhaildeputy Commissioner Of Income Tax, (It)-4(2)(1), Scindia House, Balard Pier, N.M. Road, Mumbai – 400038 ……………. Appellant Maharashtra V/S M/S. Siemens Aktiengensellschaft, C/O, Bsr & Co. Lodha Excelus, 1St Floor, Apollo Mills Compound, M.N. Joshi Marg, Mahalaxmi, ……………. Respondent Mumbai - 400038, Maharashtra Pan – Aabcs8516K

section 92D(1) of the Act, the assessee kept and maintained such information and documents, as are prescribed in respect of the international transactions entered into with its Associated Enterprises. The learned AR further submitted that during the Transfer Pricing

AMBICO EXPORTS AND IMPORTS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 12(1)(1), MUMBAI

In the result, appeal by the assessee is partly allowed in the terms aforesaid

Bench: Vikas Awasthy & Shri N.K.Pradhanआअसं. 6822/मुं/2017 ("न.व. 2013-14) It(Tp)A No.6822/Mum/2017(A.Y.2013-14)

Transfer Pricing Officer (TPO) has erred in making adjustment of Rs.1,68,66,580/- by holding that the assessee has entered into international transactions with its AEs. viz.- Ambico UK and Narayan UK. The TPO further erred in holding that the assessee has not maintained the documents as required u/s.92D of the Act and Rule 10B of the Income

M/S. NATUREX INDIA PVT. LTD,MUMBAI vs. NFAC, DELHI DCIT-CIR 2(3) (1), MUMBAI

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

Bench: Shri Vikas Awasthy & Shri Gagan Goyalm/S. Naturex India Pvt. Ltd. 502, 5Th Floor, Akruti Centre Point, Midc Central Road, Andheri (East), Chakala Midc S.O. Mumbai-400093 Pan: Aabcv0883A ..... Appellant Vs. Nfac, Delhi/Dcit Cir. 2(3) (1) Aayakar Bhavan, M. K. Road, Mumbai- 400 020 ..... Respondent

1) of section 131 or sub-section (6) of section 133 [or section 133A]. [(8) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of determination of the arm's length price under sub-section (3), so as to impart greater efficiency, transparency and accountability by— (a) eliminating the interface between the Transfer

INDIA MEDTRONIC PRIVATE LIMITED,MUMBAI vs. DCIT , 10(1)(1), MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri M. Balaganesh & Shri Ravish Soodindia Medtronics Pvt. Ltd. Deputy Commissioner 1241, Solitaire Corporate Park, Of Income-Tax-10(1)(1), Bldg. No.12, 4Th Floor, Andheri Room No. 209, Vs. Ghatkopar Link Road, Aayakar Bhavan,M.K. Road Andheri (E), Mumbai, Mumbai – 400020 Maharashtra- 400093 Pan – Aaaci4227Q (Appellant) (Respondent) Appellant By: S/Shri Rajan R. Vora & Nikhil Tiwari, A.Rs Respondent By: Shri Anand Mohan, D.R Date Of Hearing: 11.07.2019 Date Of Pronouncement: 13.09.2019

price. 55. Section 92B defines 'international transaction' as under: "Meaning of international transaction. 92B.(1) For the purposes of this section and sections 92,92C,92D and 92E ,"international transaction” means a transaction between two or more associated enterprises, either or both of whom are non-residents; in the nature of purchase, sale or lease of tangible or intangible property

PROCTER & GAMBLE HOME PRODUCTS P.LTD,MUMBAI vs. DCIT 3(3)(1), MUMBAI

The appeals of the assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am Aayakr Apila Sam./ Ita No. 1095/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2012-13) Aayakr Apila Sam./ Ita No. 1096/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2013-14) Aayakr Apila Sam./ Ita No. 1097/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2014-15)

Transfer Pricing Officer (“TPO”) to the appellant’s income. 2. On the facts and in the circumstances of the case and in law, the Ld. TPO/ CIT(A) erred in not appreciating that: a) There was no failure on the part of the Appellant keep and maintain any information required by sub-section (1) of section 92D

PROCTER & GAMBLE HOME PRODUCTS P.LTD,MUMBAI vs. DCIT 3(3)(1), MUMBAI

The appeals of the assessee are allowed

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am Aayakr Apila Sam./ Ita No. 1095/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2012-13) Aayakr Apila Sam./ Ita No. 1096/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2013-14) Aayakr Apila Sam./ Ita No. 1097/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2014-15)

Transfer Pricing Officer (“TPO”) to the appellant’s income. 2. On the facts and in the circumstances of the case and in law, the Ld. TPO/ CIT(A) erred in not appreciating that: a) There was no failure on the part of the Appellant keep and maintain any information required by sub-section (1) of section 92D

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