PUBLICIS COMMUNICATIONS P. LTD,MUMBAI vs. DCIT CIR 7(3)(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

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

sets need to match the ever changing demand for professionals. Failure to do so would result in a loss of revenue and clients. 4.3.5 Cost Overrun Risk Some of the services contracts are on fixed-price basis. Any cost failure to estimate accurately the resources and time required for a project, future rates of wage inflation and currency exchange rates

PUBLICS COMMUNICATIONS P.LTD,MUMBAI vs. DCIT CIR 6(1), MUMBAI

In the result, for assessment year 2012 – 13, appeal of the assessee is allowed for statistical purposes whereas the cross objection of the assessing officer is dismissed

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

sets need to match the ever changing demand for professionals. Failure to do so would result in a loss of revenue and clients. 4.3.5 Cost Overrun Risk Some of the services contracts are on fixed-price basis. Any cost failure to estimate accurately the resources and time required for a project, future rates of wage inflation and currency exchange rates

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

transfer pricing pricing pricing adjustment adjustment adjustment of of of Rs.292,07.863/ Rs.292,07.863/- should be deleted. The Appellant prays that the aforesaid additions be deleted. The Appellant prays that the aforesaid additions be deleted. The Appellant prays that the aforesaid additions be deleted. 2. On the facts and circumstances of the case and in la 2. On the facts

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

transfer pricing pricing pricing adjustment adjustment adjustment of of of Rs.292,07.863/ Rs.292,07.863/- should be deleted. The Appellant prays that the aforesaid additions be deleted. The Appellant prays that the aforesaid additions be deleted. The Appellant prays that the aforesaid additions be deleted. 2. On the facts and circumstances of the case and in la 2. On the facts

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

price at which these are transferred to the pre-paid distributors. No payment or credit was made by the Assessee to its pre-paid distributors. In fact, it was the pre-paid distributors who make a payment to the Assessee for transferring pre-paid talk time and connections and accordingly the discount extended was not income earned by the distributors

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

set off is claimed between the excess price and any shortfall, reasons for justifying the same may be given. any shortfall, reasons for justifying the same may be given. any shortfall, reasons for justifying the same may be given. Parishi Diamonds 13 IX. Please explain the treatment given to Foreign exchange gain Please explain the treatment given to Foreign exchange

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

set it right. This very essence of transfer pricing is embedded in section 92F(ii) of the Act. f) The very concept of transfer pricing is that the transactions have to be looked into by removing the related-party nature. Whether two independent unrelated entities would have entered into such transaction? This is the vital question to be addressed

3I INFOTECH LIMITED,MUMBAI vs. PR. CIT- 15, MUMBAI

In the result, appeal of the assessee is allowed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm 3I Infotech Limited Pcit-15 Tower No.5, 5Th Floor, Aaykar Bhavan, 3Rd To 6Th Floors, Vs. International Infotech Park, Mumbai-400 020 Vashi, Navi Mumbai-400 703 (Appellant) (Respondent) Pan No. Aaaci5205Q Assessee By : Shri Bhupendra Karkhanis, Shri Jay Dharod, Ars Revenue By : Ms. Samruddhi Hande, Dr Date Of Hearing: 17.02.203 Date Of Pronouncement : 10.05.2023

loss at ₹673.50 crores is erroneous so far as prejudicial to the interest of the Revenue and therefore, the learned PCIT set aside the assessment order directing the learned Assessing Officer to refer the international transaction of 3I Infotech Limited; A.Y. 13-14 loan given to the Associated Enterprises, M/s 3I Infotech Holdings Pvt. Ltd., Mauritius which came into existence

M/S. VISION MILLENIUM EXPORTS P. LTD,MUMBAI vs. DCIT, CENTRAL CIRCLE- 7(2), MUMBAI

In the result, the appeal

Bench: BEFORESHRI SANDEEP GOSAIN (Judicial Member), SHRI PRABHASH SHANKAR (Accountant Member)

price difference arising on settlement of contract is on nature of ‘speculation transaction’ ract is on nature of ‘speculation transaction’ and therefore, the and therefore, the loss arising out of such purchase and sale transactions are only be set off loss arising out of such purchase and sale transactions are only be set off loss arising out of such purchase

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

set aside, and the disallowance made by the Assessing Officer during the course of assessment proceedings be upheld." 19. "Whether on facts and in circumstances of the case and in law, the Ld. CIT(A) erred by allowing the claim of gratuity expenses amounting to 200 41 crores. The additional claim of 200.41 crores mode during assessment proceedings

SHAPOORJI PALLONJI AND COMPANY PVT LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(3), MUMBAI

Appeals are partly allowed

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI JAGADISH (Accountant Member)

set aside the transfer pricing addition relating to Performance Guarantee made by the Assessing Officer with the directions to the Assessing Officer to recomputed the transfer pricing addition, if any, after determining arms length rate of performance guarantee commission in respect of the transaction under consideration as per the prescribed method keeping in view the terms of the performance guarantee

SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -3(3)(1), MUMBAI

Appeals are partly allowed

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI JAGADISH (Accountant Member)

set aside the transfer pricing addition relating to Performance Guarantee made by the Assessing Officer with the directions to the Assessing Officer to recomputed the transfer pricing addition, if any, after determining arms length rate of performance guarantee commission in respect of the transaction under consideration as per the prescribed method keeping in view the terms of the performance guarantee

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

loss. The Transfer Pricing Officer on examining the annual report for the relevant previous year, however, found that the assessee had entered into following transactions with its A.E. Sub–contracting costs paid ₹ 369,40,07,189 Recovering of expenses received ₹ 4,80,58,593 Reimbursement of expenses paid ₹ 3,69,73,756 6. The Transfer Pricing Officer noticed that, though

JSW ENERGY (BARMER) LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 8(3), MUMBAI, MUMBAI

In the result, both the appeals are allowed partly for statistical

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

price and can’t adopt arbitrary method of converting floating rate of price and can’t adopt arbitrary method of converting floating rate of price and can’t adopt arbitrary method of converting floating rate of interest into fixed rate of interest. interest into fixed rate of interest. 8.10 In view of above n view of above, we feel

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

set out by the Group-wide resourcing policy as Annexure 7  Snapshot of Online Approval system 'Populous' developed by Group HR for hiring / transfer approvals and pay review for staff as Annexure 8  Snapshot of Online system developed by Group HR for Employee Self Service, online Performance Management System as Annexure 9  Snapshot of PepoleSoft Employee database installed globally

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

set out by the Group-wide resourcing policy as Annexure 7  Snapshot of Online Approval system 'Populous' developed by Group HR for hiring / transfer approvals and pay review for staff as Annexure 8  Snapshot of Online system developed by Group HR for Employee Self Service, online Performance Management System as Annexure 9  Snapshot of PepoleSoft Employee database installed globally

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

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 depreciation set off depreciation set

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

set aside the whole issue back to the file of the learned Assessing Officer/ Transfer Pricing Officer with a direction to the assessee to substantiate the Arm‟s Length Price of the intra group services demonstrating the above tests / ingredients mentioned. On submission of the detail by the assessee, the learned Transfer Pricing Officer may examine and determine

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

set aside the whole issue back to the file of the learned Assessing Officer/ Transfer Pricing Officer with a direction to the assessee to substantiate the Arm‟s Length Price of the intra group services demonstrating the above tests / ingredients mentioned. On submission of the detail by the assessee, the learned Transfer Pricing Officer may examine and determine