M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

transfer pricing study report of assessee that the assessee had benchmarked international transactions by applying TNMM method as most appropriate method and PLI of assessee was shown at 16.72%, as against average PLI of the comparables at 2.77%. It was thus, concluded by the assessee that international transactions were at arm's length price. The TPO then analyzed the working

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

transfer pricing study report of assessee that the assessee had benchmarked international transactions by applying TNMM method as most appropriate method and PLI of assessee was shown at 16.72%, as against average PLI of the comparables at 2.77%. It was thus, concluded by the assessee that international transactions were at arm's length price. The TPO then analyzed the working

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

transfer pricing study report of assessee that the assessee had benchmarked international transactions by applying TNMM method as most appropriate method and PLI of assessee was shown at 16.72%, as against average PLI of the comparables at 2.77%. It was thus, concluded by the assessee that international transactions were at arm's length price. The TPO then analyzed the working

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

transfer pricing study report of assessee that the assessee had benchmarked international transactions by applying TNMM method as most appropriate method and PLI of assessee was shown at 16.72%, as against average PLI of the comparables at 2.77%. It was thus, concluded by the assessee that international transactions were at arm's length price. The TPO then analyzed the working

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

transfer pricing study report of assessee that the assessee had benchmarked international transactions by applying TNMM method as most appropriate method and PLI of assessee was shown at 16.72%, as against average PLI of the comparables at 2.77%. It was thus, concluded by the assessee that international transactions were at arm's length price. The TPO then analyzed the working

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

transfer pricing study report of assessee that the assessee had benchmarked international transactions by applying TNMM method as most appropriate method and PLI of assessee was shown at 16.72%, as against average PLI of the comparables at 2.77%. It was thus, concluded by the assessee that international transactions were at arm's length price. The TPO then analyzed the working

ANAND DEVELOPERS,SANGLI vs. INCOME-TAX OFFICER, WARD 2(1), SANGLI

In the result, the appeal filed by the assessee in ITA

search and seizure operations in the case of M/s. Prarthana Infra i.e. buyer of the property such as ledger copy, Pen Drive showing the payments of on-money consideration for the period from 01.04.2013 to 08.12.2014 concluded that the cash of Rs.6,97,00,000/- had been paid to Mr. Anand Shah during previous year 2013-14 relevant

DY COMMISSIONER OF INCOME-TAX, SANGLI CIRCLE,, SANGLI vs. ANAND DEVELOPERS, SANGLI

In the result, the appeal filed by the assessee in ITA

search and seizure operations in the case of M/s. Prarthana Infra i.e. buyer of the property such as ledger copy, Pen Drive showing the payments of on-money consideration for the period from 01.04.2013 to 08.12.2014 concluded that the cash of Rs.6,97,00,000/- had been paid to Mr. Anand Shah during previous year 2013-14 relevant

DCIT CIRCLE 1 NASHIK, NASHIK vs. SHREE SAI PROPERTIES, NASHIK

In the result, appeal of the Revenue is dismissed

Bench: Dr. Manish Borad & Shri Vinay Bhamore

search and seizure action in the case of respondent- assessee and its group companies, no material whatsoever was seized and found indicating payment of on-money consideration at the time of purchase of the lands. Reliance in this regard can be placed on the following decisions: i) Pr.CIT vs. Umesh Ishrani (2019) 108 taxmann.com 437 (Bom) ii) CIT vs. Atam

UTTARA FOODS AND FEEDS PVT.LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 12,, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No.1987/Pun/2017 नििाारण वषा / Assessment Year : 2012-13 Uttara Foods & Feeds Pvt. Ltd. Venkateshwara House, Pune Sihngad Road, Pune-411 030. Pan : Aaacu3663Q .......अऩीऱाथी / Appellant बिाम / V/S. The Assistant Commissioner Of Income Tax, Circle-12, Pune. ……प्रत्यथी / Respondent

transfer pricing adjustment afresh after verifying the assessee‟s submission that the interest was charged at the rate of 15.25%. In the final impugned assessment order, an addition of Rs.1,31,78,383/- has been made for the differential rate of interest at 2.25% (17.50% as determined by the DRP minus 15.25% as charged by the assessee). The assessee

LIQUIDHUB ANALYTICS PVT. LTD. (NOW MERGED WITH CAPGEMINI TECHNOLOGY SERVICES INDIA LTD),PUNE vs. NFAC, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2020-21

Transfer Pricing Officer about the amalgamation between SPENI and SPNI under Sections 391 to 394 of the Companies Act effective from 1 April 2015 and that the Assessing Officer could not have proceeded to pass the assessment order against a non-existent entity. The Tribunal has in fact observed that apart from the first communication dated 02 January 2017, there

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. VISTA NIRMAN PVT. LTD., MUMBAI

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2011-12

seizure operation u/s 132 and survey operation u/s 133A of the Income Tax Act, 1961 was conducted at the various premises of Mittal Group on 31.10.2017. During the search and survey it was found that M/s VISTA NIRMAN PRIVATE LIMITED has received share premium from various Kolkata based companies, the creditworthiness of whom remained unexplained, amounting to Rs.24

M.M. PATEL PUBLIC CHARITABLE TRUST,SOLAPUR vs. PCIT- CENTRAL, PUNE, PUNE

In the result, the appeal of the assessee is partly allowed

transferring the jurisdiction of the person, the transferee Income-\ntax Authorities as mentioned in section 116 of the Act shall exercise all\nthe powers and perform the functions as stipulated in the Act in respect\nof all the proceedings which may be commenced after the date of such\norder in respect of any year and such power includes passing

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. RENAISSANCE CULTIVATION LLP,, PUNE

In the result, the appeal filed by the Revenue stands dismissed

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.1416/Pun/2017 िनधा"रण वष" / Assessment Year: 2013-14 Acit, Central Circle-2(1), Vs. M/S Renaissance Pune. Cultivation Llp, Pastakiya House, A/P Kamshet Maval, Pune- 410405 Pan : Aaofr7634K Appellant Respondent Revenue By : Shri J. P. Chadraker Assessee By Shri Neelesh Khandelwal : Date Of Hearing : 16.03.2022 Date Of Pronouncement : 05.04.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Revenue Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)- 12, Pune [‘Cit(A)’ For Short] Dated 21.03.2017 For The Assessment Year 2013-14. 2. The Revenue Raised The Following Grounds Of Appeal :- “1. On The Facts & Circumstances Of The Case, The Ld. Cit(A) Was Justified In Allowing The Appeal Of The Assessee Without Appreciating The Entire Facts Of The Case.

seizure operations, certain documents were stated to have been found and seized containing page no.1 to 77 of bundle no.1 pertaining to the sale of this land. According to the Assessing Officer, page 19 of bundle no.1 reveals that the revenue sharing agreement agreed between Namrata Group and the respondent-assessee herein. This, according to the Assessing Officer, establishes that

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CC.1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22

seizure action the assessee firm admitted that it has made unaccounted sale of Gai Chap tobacco and other products. In response to the notice u/s 153A of the Act the assessee filed the return of income on 08.03.2022 declaring total income of Rs.81,73,67,960/- on account of unaccounted sale of Gai Chap tobacco and other products admitted

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE, PUNE vs. GIRIRAJ ENTERPRISES, PUNE

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22

seizure action the assessee firm admitted that it has made unaccounted sale of Gai Chap tobacco and other products. In response to the notice u/s 153A of the Act the assessee filed the return of income on 08.03.2022 declaring total income of Rs.81,73,67,960/- on account of unaccounted sale of Gai Chap tobacco and other products admitted

SMT. KIRTI B. THORAT,,PUNE vs. INCOME-TAX OFFICER, WARD - 3 (3),, PUNE

In the result, appeal of the assessee is dismissed

Bench: Shri Partha Sarathi Chaudhury & Shri G.D. Padmahshalismt. Kirti Bipin Thorat, Vs Ito, Ward-3(3), Sr.No.1, Plot No.1, Shriman Pune. Society, Karve Nagar, Pune. Pan: Aeopt 8890 B Appellant Respondent Assessee By : Shri Rishab Jain, Ca Revenue By : Shri Ganesh Budruk, Dr Date Of Hearing : 04/09/2023 Date Of Pronouncement : 20/09/2023 O R D E R Per Partha Sarathi Chaudhury, Jm:

seizure action u/sec. 132 of the Act conducted upon Sinhgad group of cases on 06/08/2013, wherein one of the groups was Jay Shriram Sugar and Agro Products Ltd. (JSAPL), which was also searched. Certain loose papers were found and seized in the said premises, which contained some transactions related to the assessee and her family members, who were in fact

SMT. SUMANDEVI DINESHKUMAR TULSYAN,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

search and seizure action at the premises of entry operators, share\nbrokers and money launderers who were involved in providing accommodation\nentries of Long Term Capital Gains. It was found that the price of various listed\ncompanies including Mishka i.e. the shares under question were manipulated and\nthe unaccounted money of the investors was routed through share transactions,\nresulting

DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

In the result, both the appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Dineshkumar Ramchandra Tulsyan (Huf) Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Aachd5953R (Appellant) (Respondent) Assessment Year : 2014-15 Smt. Sumandevi Dineshkumar Tulsyan Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Ackpt1322Q (Appellant) (Respondent)

search and seizure action at the premises of entry operators, share brokers and money launderers who were involved in providing accommodation entries of Long Term Capital Gains. It was found that the price of various listed companies including Mishka i.e. the shares under question were manipulated and resulting in Long Term Capital Gains as the same were exempt. He noted