JAMIPOL LTD,JAMSHEDPUR vs. ACIT, JAMSHEDPUR

In the result, both the appeals of assessee being ITA Nos

section 234C of the Act. 35. After hearing the rival submissions and perusing the record, we find that the interest u/s. 234B/C of the Act is to be charged on declared returned income and not on assessed income as per decision of the of the Hon’ble Jurisdictional High Court in the case of Shri Ajay Prakash Verma

TATA CUMMINS PRIVATE LIMITED,PUNE vs. THE DCIT CIRCLE-1-JAMSHEDPUR AND THE ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, NFAC, DELHI, JAMSHEDPUR

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

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahaytata Cummins Private Limited, D.C.I.T., Cummins India Office, Tower-A, 7Th Circle-1, Vs. Floor, Survey No. 21, Balewadi, Pune, Jamshedpur. Maharashtra. Pan No. Aaact 6353 L Appellant/ Assessee Respondent/ Revenue

68 taxmann.com 311 (Bangalore - Trib.) The Bangalore Tribunal has relied on the decision in the case of Bausch & Lomb Eyecare (India) Pvt. Ltd. Vs. ACIT (2016) 381 117 (Del) and held that, "no TP adjustment can be made by deducing from the difference between AMP expenditure incurred by assessee-company and AMP expenditure of comparable entity, if there