QUBIX BUSINESS PARK PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE

In the result, Ground No.2 of the assessee is allowed for statistical purpose

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Transfer Pricing Officer under sub- Section (3) of Section 92CA and even under Section 144C(8). The DRP may confirm, reduce or enhance the variations proposed in the draft order and wherefore the word eligible assessee in Clause (1) and (15) and the proposed draft order referred to under Clause 144c(1) and (8) will have to be given full

INCOME TAX OFFICER WARD HINGOLI, WARD HINGOLI (CAMP AT PARBHANI) vs. VISHWAS AGRO PRODUCT PVT LTD, PARBHANI

In the result, the appeal filed by the Revenue is allowed for statistical purposes

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

transferred for investment in fixed assets. Hence it is hereby concluded that the funds received by the assessee-company from the Pranav International Ltd., Dubai to the tune of Rs.1,62,84,153/- in FY 2016-17 are unexplained credit in the books of the assessee. Accordingly, the unexplained credit of Rs.1,62,84,153/- is added to the total

ASSISTANT COMMISSIONER OF INCOME TAX, KOLHPAUR vs. RBL BANK LTD, KOLHAPUR

In the result, the appeal of the Revenue is dismissed

Bench: SATBEER SINGH GODARA, JUDICIAL MEMBER, AND DR.DIPAK P. RIPOTE (Accountant Member)

section 271(l)(c) of the Act requires the Ld. AO to record is satisfaction before imposition of penalty, the AO could not have imposed penalty merely because the assessee has not filed any response. The CIT(A) has held the order imposing penalty to be bad in law on this count too. The assessee submits that there

BNY MELLON INTERNATIONAL OPERATIONS (INDIA) PVT. LTD.,,PUNE vs. ASSESSING OFFICER, NATIONAL E-ASSESSMENT CENTRE,, DELHI

The appeal of the assessee is PARTLY ALLOWED

Bench: Shri Satbeer Singh Godara & Shri G. D. Padmahshaliआयकर अपील सं. / Ita No. 699/Pun/2021 धििाारण वर्ा / Assessment Year : 2017-18 Bny Mellon International Operations (India) Pvt. Ltd., Tower S3, Level 1, Cybercity, Magarpatta City, Hadapsar, Pune-411013 Pan: Aadcm 9640 E . . . . . . . अपीलाथी / Appellant बिाम / V/S National E-Assessment Centre, Delhi . . . . . . .प्रत्यथी / Respondent द्वारा / Appearances Assessee By : Shri Nitesh Joshi Revenue By : Shri Rakesh Jha सुनवाई की तारीख / Date Of Conclusive Hearing : 03/08/2023 घोषणा की तारीख / Date Of Pronouncement : 08/08/2023 आदेश / Order Per G. D. Padmahshali, Am; This Appeal Is Directed Against The Order Of The National Faceless Assessment Centre, Delhi, [‘Ao’ Hereinafter] Dt. 29/10/2021 Passed U/S 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] For The Ay 2017-18. Itat-Pune Page 1 Of 16

section 271 (1)(c) of the Act, without considering the fact that adjustment to transfer price is on account of difference of opinion on the computation of arm's length price as determined by TPO vis-à-vis arm's length price determined by the Appellant. 14. That the Appellant craves leave to add, to alter and/or amend the grounds

DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PUNE, PUNE vs. BANK OF MAHARASHTRA, PUNE

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes and the appeal filed by the assessee is partly allowed for statistical purposes

36(1)(vii) of the Act on account of write off on debts by the non-rural branches of the assessee bank. The learned counsel for the assessee explained that the said claim was raised by way of an Additional Ground of Appeal before the CIT(A) vide letter dated 26.08.2008 but the same has not been inadvertently considered

M/S PERSISTENT SYSTEMS LIMITED,PUNE vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, PUNE

In the result, appeal of the Assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.692/Pun/2022 िनधा"रणवष" / Assessment Year : 2018-19 M/S.Persistent Systems Assessment Unit, Income Limited, V Tax Department. “Bhageerath” 402, Senapati S Bapat Road, Pune – 411016. Pan: Aabcp 1209 Q Appellant/ Assessee Respondent /Revenue Assessee By Shri Dhanesh Bafna& Shriaditya Vaidya– Ar’S Revenue By Shri Suhas Kulkarni - Irs Addl Commissioner Of Income Tax Date Of Hearing 26/09/2023 Date Of Pronouncement 02/11/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Assessment Order, Dated 20.07.2022 Under Section 143(3) R.W.S. 144C(13) Read With Section 144B Of The Income Tax Act, 1961 For A.Y.2018-19. The Assessee Has Raised The Following Grounds Of Appeal: “Ground 1: Order Is Invalid / Non Est  On The Facts & In The Circumstances Of The Case & In Law, The Assessment Unit (‘Au’) Has Erred In Passing The Draft Assessment M/S.Persistent Systems Limited [A]

Transfer Pricing Proceedings, the TPO carried out fresh search of comparables using the same criteria as used by the assessee while bench marking the transaction. The TPO had not rejected any of the comparables selected by the assessee. However, the TPO had added certain comparables to the list of comparables on the ground that those comparables were functionally comparable

PIAGGIO VEHICLES PVT LTD ,PUNE vs. ACIT, CIRCLE 4, PUNE, PUNE

In the result, the appeal of the assessee is dismissed

Bench: Ms. Astha Chandra & Shree Dr. Dipak P. Ripote

transfer pricing adjustment of Rs.7,36,97,574/- which were allowed by the Ld. CIT(A) relying on his decision in preceding AY 2015-16 in assessee’s own case involving the identical issues in respect of export of parts and component-service spares and export of parts and components – global sourcing and payment of corporate guarantee fees. Before

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

section 259 of the Companies Act of Singapore. The Hon‟ble High Court of Republic Singapore was pleased to grant the permission vide order dated 02.10.2015. Subsequently, the assessee company transferred the shares of 79,33,50,000 ordinary shares of BSPL held by the assessee company for total consideration of Singapore Dollar 1 to Bilcare Packaging Ltd., which

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

section 259 of the Companies Act of Singapore. The Hon‟ble High Court of Republic Singapore was pleased to grant the permission vide order dated 02.10.2015. Subsequently, the assessee company transferred the shares of 79,33,50,000 ordinary shares of BSPL held by the assessee company for total consideration of Singapore Dollar 1 to Bilcare Packaging Ltd., which

BRAHM PRECISION MATERIALS PVT LTD,AURANGABAD vs. CIT(A), NATIONAL FACELESS APPEAL CENTRE (NFAC) DELHI

In the result, appeal of the assessee for A

price of such\ninvestment then loss of such investment is a capital loss.\n20. At the cost of repetition, brief facts relating to this issue\nare that in order to expand its business overseas and also to\nincrease its export sales and other Revenue in the field of\nmanufacturing of high precision caging components and\nAerospace and Defence Industries

BRAHM PRECISION MATERIALS PVT. LTD.,AURANGABAD vs. COMMISSIONER OF INCOME TAX (APPEALS), NATIONAL FACELESS APPEAL CENTRE, NEW DELHI

In the result, appeal of the assessee for A

price of such\ninvestment then loss of such investment is a capital loss.\n\n20. At the cost of repetition, brief facts relating to this issue\nare that in order to expand its business overseas and also to\nincrease its export sales and other Revenue in the field of\nmanufacturing of high precision caging components and\nAerospace and Defence Industries

PRODAIR AIR PRODUCTS INDIA PRIVATE LIMITED, PUNE,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4, PUNE, PUNE

In the result, the appeal of the Assessee is Dismissed

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.495/Pun/2022 िनधा"रण वष" / Assessment Year : 2018-19 Prodair Air Products India The Assistant Private Limited, V Commissioner Of 602 Pentagon 5, Magarpatta S Income Tax, Circle-4, City, Hadapsar, Pune – 411013. Pune. Pan: Aafcp0045E Appellant/ Assessee Respondent /Revenue Assessee By Shri Chandni Shah & Ridhi Maru – Ar Revenue By Shri Subhakant Sahu – Irs, Dr Date Of Hearing 21/09/2023 Date Of Pronouncement 14/12/2023

36,145/-. Since there Prodair Air Products India Pvt. Ltd., [A] was International transactions with the Associated Enterprise (AE) the case was referred to Transfer Pricing Officer (TPO) who passed an order under section92CA(3) on 24/07/2021 proposing an adjustment of Rs.3,41,50,685/- to the International transaction of Payment of Interest to AE on the Loan taken from

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

36(1)(va) of the Act 13 The Ld. AO erred in initiating penalty proceedings under Section 270A of the Act on arbitrary premise that there is under-reporting of income done by the Appellant The above grounds are without prejudice to each other The appellant craves leave to alter, amend or withdraw all or any of the grounds herein

BANK OF MAHARASHTRA ,PUNE vs. ASST COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE, PUNE

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2016-17

36(1)(vii) of the Act on account of write off on debts by the non-rural branches of the assessee bank. The learned counsel for the assessee explained that the said claim was raised by way of an Additional Ground of Appeal before the CIT(A) vide letter dated 26.08.2008 but the same has not been inadvertently considered

MEENAMANI GANGA BUILDER LLP ,PUNE vs. PCIT (CENTRAL), PUNE , PUNE

In the result, the appeal of the assessee is dismissed

36,95,925/- and after\nduly taking approval from Addl.CIT u/s.153D of the Act\nassessed the income at Rs.3,65,56,555/- Subsequently, ld.\nPCIT having jurisdiction u/s.263 of the Act called for the\nassessment records of the assessee for A.Y. 2019-20 and after\nperusal of the assessment records noticed that there are huge\nunsecured loans standing

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

36 ITA.No.987/PUN./2025 (M/s. Shree Sai Properties) the Ld. AO extrapolated this information to presume further unaccounted sales of Rs. 7,93,62,371/- thereby making an addition of Rs. 8,80,26,071/- (Rs. 86,63,700+ Rs. 7,93,62,371) to the income of the assessee as unaccounted sales in respect of plots at survey

DCIT, CIRCLE 8 PUNE, PUNE vs. ALFA LAVAL INDIA PVT LTD, PUNE

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

section 36(1)(va) of the Act.\nSubsequently, the case was selected for scrutiny under CASS for the following\nreasons:\n“1.\nDeemed International Transactions\n2.\nLarge value of international transactions\n3.\nTransactions with Company whose Registration has been Cancelled by\nMCA\n4.\nDuty Drawback\n5.\nLower amount disallowed u/s 40(a)(ia) in ITR (Part A-OI) in comparison

DANA ANAND INDIA PRIVATE LIMITED,PUNE vs. DCIT, AKURDI,PUNE

36 of the Act, for computing income under the head,\n“Income from Business and Profession”.\n16. For claiming benefit under section 80G, deductions are considered at\nthe stage of computing “Total taxable income". Even if any payments\nunder section 80G forms part of CSR payments ( keeping in mind ineligible\ndeduction expressly providedu/s.80G), the same would already stand\nexcluded while

ASSISTANT COMMISSIONER OF INCOME TAX, KOLHAPUR vs. UNDERCARRIAGE AND TRACTOR PARTS PRIVATE LIMITED, KOLHAPUR

In the result, the appeal of the Revenue is dismissed

Bench: Shri R.K. Panda & Ms. Astha Chandra

transfer pricing order has been passed on 30.10.2018 and the TPO had adequate time to complete the penalty proceedings. 4 ITA No.839/PUN/2024, AY 2015-16 2.5 The present case is not the case where the documents were not filed at all. Section 271G of the Income-tax Act, 1961, prescribes penalty in case a person fails to furnish information