BILAKHIA HOLDING P LTD,VAPI vs. THE ACIT,VAPI CIRCLE, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Pawan Singh, Hon'Ble & Dr.Shri Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.T.A’S No.181 & 182/Srt/2017 "नधा"रण वष"/Assessment Years: 2009-10 & 2010-11 Bilakhia Holding P Ltd., Vs The Assistant Bilakhia House, Muktanand Marg, . Commissioner Of Income Chala, Surat – 394 520. Tax, Vapi Circle, Vapi. [Pan: Aadcs 4420 J] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee By Shri Gopalakrishnan Aiyer – Ar राज"वक"ओर से /Revenue By Smt. Usha Shrote – Sr.Dr सुनवाई की तारीख/ Date Of Hearing: 13.04.2021 उ"घोषणा क" तार"ख/Pronouncement On: 19.05.2021 आदेश /O R D E R Per Dr.Arjun Lal Saini, Accountant Memeber: 1. Captioned Two Appeals Filed By Assessee Pertaining To Assessment Year 2009-10 & 2010-11, Are Directed Against The Separate Orders Passed By The Ld.Cit(A), Which In Turn Arise Out Of Separate Orders Passed By The Assessing Officer Under Section 271(1)(C) Of The Income Tax Act, 1961 (Here In After Referred To As The ‘Act’).

section 92-B of the IT Act and the transfer pricing provisions are not applicable as there is no income. Therefore, considering the same, as the assessee has also given loan to obtain the benefits of full profits earned by the subsidiary and to ensure full control over the operations of the subsidiary. Therefore, this is not comparable

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE ADDL.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

transfer pricing mandate that such loan be bench marked in terms of arm’s length price of the loan. A loan per se cannot be termed as quasi equity and the assessee may claim zero bench marking under this Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

transfer pricing mandate that such loan be bench marked in terms of arm’s length price of the loan. A loan per se cannot be termed as quasi equity and the assessee may claim zero bench marking under this Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y

BILAKHIA HOLDING P LTD,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

transfer pricing mandate that such loan be bench marked in terms of arm’s length price of the loan. A loan per se cannot be termed as quasi equity and the assessee may claim zero bench marking under this Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y

BILAKHIA HOLDINGS PVT. LTD.,VAPI vs. THE ACIT.,VAPI CIRCLE, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

transfer pricing mandate that such loan be bench marked in terms of arm’s length price of the loan. A loan per se cannot be termed as quasi equity and the assessee may claim zero bench marking under this Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y

HUBERGROUP INDIA PVT. LTD. (FORMERLY KNOWN AS MICRO INKS PVT. LTD.),VAPI vs. THE ACIT, VAPI CIRCLE,, VAPI

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Huber Group India Pvt. Assistant Commissioner Of Ltd. (Formerly Known As Income Tax, Vapi, Circle, Vs Micro Inks Pvt.Ltd.) Shivam Commercial Bilakhia House, Complex, National High Muktanand Marg, Way No.8 Vapi Chala, Vapi-396191 Pan : Aaach 7063 F Appellant / Assessee Respondent / Revenue

13) r.w.s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 04.12.2015, passed in pursuance of direction of ld. Dispute Resolution Panel-2, Mumbai (for short to as “DRP”) involving proceedings under section 144C(5) dated 29.10.2015 for assessment year (AY) 2011-12. The assessee has raised the following grounds of appeal:- Huber Group India

M/S. BAYER VAPI PRIVATE LTD. (FORMERLY KNOWN AS BILAG INDUSTRIES P. LTD.),VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI

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

Bench: Shri Amarjit Singh & Shri O.P. Meena, Accoutant Member आ.अ.सं/.I.T.A No’S.2886/Ahd/2010, 794/Ahd/2014 & 1769/Ahd/2016 िनधा"रण वष"/Assessment Years:2006-07, 2009-10 & 2011-12 बनाम M/S. Bilag Industries Pvt. Ltd. , Addl. Cit Range- ( Now Known As M/S. Bayer Vapi Vs. Vapi, Range Vapi Private Limited) 306/3,Phase-Ii Shivam Commercial Complex Gidc-1, Vapi Gujarat National Highway No 8 Vapi Pan: Aabcb 2100 L अपीलाथ" Appellant ""यथ"/Respondent Shri A. Gopalakrishnan Aiyer - Ca िनधा"रती क" ओर से /Assessee By Shri O. P. Singh Cit (D.R.) राज"व क" ओर से /Revenue By 26.09.2019 सुनवाई क" तारीख/ Date Of Hearing: 24.10.2019 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Am: 1. The Above Captioned Three Appeals For The Assessment Year 2006-07, 2009-10 & 2011-12 By The Assessee Are Directed Against The Assessment Order Passed U/S. 143(3) R.W.S. 144C Dated 28.07.2010 & Dated 15.01.2014 Respectively Under The Income-Tax Act,1961 ['The Act' For Short] On The Direction Of Drp By The Addl. Cit Range-Vapi Range Vapi (Herein After Referred As The Ao) & The Appeal For The Assessment Year 2011-12 By The Assessee Is Directed Against The Order Of Ld. Cit (A) Dated 29.04.2016. Since The Common Issues Are Involved In These Appeals Therefore, These Were Heard Together & Consolidated Order Is Being Passed As Under: It(Tp)A No.2886/Ahd/2010/A.Y. 2006-07/ By The Assessee: 2. Ground Nos.1 Is General In Nature & Do Not Require Adjudication.

transfer pricing adjustment can be made. This proviso was substituted by the Finance (No.2) Act, 2009 w. e. f. 01-10-2009. Explanation to sub-section (2) of section 92C has clarified : "that the provisions of the second proviso shall also be applicable to all assessment or reassessment proceedings pending before the Assessing Officer as on 1st October

M/S. VIPUL PARK,TAPI vs. THE DCIT,CENT.CIR.-2, SURAT

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh, Hon'Ble & Dr.Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.T.A No.1195/Ahd/2013 "नधा"रण वष"/Assessment Year: 2009-10 M/S.Vipul Park, Vs. The Deputy Commissioner Of Andhar Wadi Road, Income Tax, Central Circle-2, Vyara, Dist. Tapi – 394 650. Surat. [Pan: Aalfm 3438 P] अपीलाथ" / Appellant ""यथ"/Respondent

13) of the Income Tax Act, 1961, the provisions contained in sub- section 80IA(9) shall also apply to the eligible business under sub-section 80IB(10) of the Income Tax Act, 1961. 10. In light of the above provisions of the Act, the normal and ordinary profits of the assessee concern is liable to be determined

HUBERGROUP INDIA PRIVATE LIMITED,VAPI vs. PR. COMMISSIONER OF INCOME TAX, VALSAD

In the result, appeal of the assessee is dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.133/Srt/2022 (Ay 2018-19) (Hearing In Virtual Court) Hubergroup India Pvt. Ltd. Principal Commissioner Of Plot No.808/E, Phase-Ii, Income Tax, Valsad, Room Vs Gidc, Vapi-396195 No.301, 3Rd Floor, Income Tax Pan No. Aaach 7063 F Office, Palak Arcade, Pali Hill, Santi Nagar, Tithal Road, Valsad-396001 ""थ" /Respondent अपीलाथ"/Appellant

Pricing Report furnished by the assessee, reporting the International Transaction of assessee with its AE. The assessee also reported specific domestic transaction (SDT for short) of Rs.47.78 crores. The Assessing Officer made reference for computation of ALP about the International Transaction with various AEs under section 92CA(3) vide order dated 31.07.2021. The TPO suggested the 9 Hubergroup India

ACIT, CIRCLE-2(1)(1), INCOME TAX DEPARTMENT vs. S D MATERIAL HANDLERS PRIVATE LIMITED, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.499/Srt/2023 (िनधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Assistant Commissioner Of M/S S D Material Handlers Pvt. Ltd. Income-Tax, Circle-2(1)(1), Surat Vs. 405-408, Shivalik Western, L.P. Room No.612, 6Th Floor, Aayakar Savani Road, Adajan Adajan Bhavan, Near Majura Gate, Bo, Surat-395009 Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd 3481B (अपीलाथ" /Assessee) (""थ"/Respondent)

price (ii) Recuring annual tax @ 200 + Rs.400/- per every 1000 kgs or part thereof exceeding 2000 kgs. Further, assessing officer has also noticed that the assessee has not debited any amount against RTO tax in its Profit & Loss account for the year under consideration though following capitalization method for sale value of cranes. The assessee-company has not submitted anything

INCOME TAX OFFICER WARD - 1(1)(1), SURAT vs. V R SURAT PVT. LTD. FORMERLY KNOWN AS M/S DHANLAXMI INFRASTRUCTURE PVT. LTD., SURAT

In the result, cross objection filed by the assessee (in CO

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.329/Srt/2022 Assessment Year: (2015-16) (Physical Hearing) Income Tax Officer, Ward- Vs. V R Surat Pvt. Ltd. 1(1)(1), Surat, Room No.111, 1St (Formerly Known As M/S. Floor, Aayakar Bhawan, Majura Dhanlaxmi Infrastructure Pvt. Gate, Surat-395001 Ltd.,).F. No.29, Virtuous Retail, Surat Dumas, Nr. Dumas Resort, Magdalla, Surat– 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd5578R (Assessee) (Respondent) ""या"ेप. सं./Co No.16/Srt/2022 [Arising Out Of Ita No.329/Srt/2022] Assessment Year: (2015-16)

Section 92D of the Act, r/w Rule 10D of the Income-tax Rules, 1962 (‘the Rules’), an external benchmark was claimed to have been undertaken by the company on data available on national Security Depository Limited (NSDL) website. In the said benchmarking exercise, the mean interest rate of comparable transactions was arrived at 16.83% p.a against 15% p.a. paid

DCIT, CIRCLE-1(1)(2), SURAT vs. J K PAPER LTD, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Transfer Pricing Officer (TPO) under Section 92CA(3) dated 28/3/2016. The ld. Sr. Counsel submits that the price charged by Captive Power Project (CPP) Unit from paper and board units does not exceed price charged by Gujarat Electricity Board (GEB) from assessee company. The ld. CIT(A) while granting relief to the assessee, followed the decision of Gujarat High Court

DCIT, CIRCLE-1(1)(1), SURAT, SURAT vs. M/S. J K PAPER LIMITED, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Transfer Pricing Officer (TPO) under Section 92CA(3) dated 28/3/2016. The ld. Sr. Counsel submits that the price charged by Captive Power Project (CPP) Unit from paper and board units does not exceed price charged by Gujarat Electricity Board (GEB) from assessee company. The ld. CIT(A) while granting relief to the assessee, followed the decision of Gujarat High Court

DCIT, CIRCLE-1(1)(2), SURAT vs. J K PAPER LTD, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Transfer Pricing Officer (TPO) under Section 92CA(3) dated 28/3/2016. The ld. Sr. Counsel submits that the price charged by Captive Power Project (CPP) Unit from paper and board units does not exceed price charged by Gujarat Electricity Board (GEB) from assessee company. The ld. CIT(A) while granting relief to the assessee, followed the decision of Gujarat High Court

SHREE KHEDUT SAHAKARI KHAND UDYOG MANDLI LTD.,BARDOLI vs. INCOME TAX OFFICER, WARD-1, BARDOLI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

transfer of profits effected by payment of\nSugarcane purchase price at the rate over and above the Fait and\nRemunerative Price (FRP) holding that profit element embedded in the\nsugarcane purchase price paid to the member farmer is Rs. 13,14,995/-@\nRs.11/- per MT on purchase of 119544.985 MT sugarcane from member\nfarmers when sugarcane purchase price given

SAHAKARI KHAND UDUOG MANDAL LTD.,NA vs. ARIVS.DCIT, NAVSARI CIRCLE, NAVSARI, NAVSARI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

transfer of profits effected by payment of\nSugarcane purchase price at the rate over and above the Fait and\nRemunerative Price (FRP) holding that profit element embedded in the\nsugarcane purchase price paid to the member farmer is Rs. 13,14,995/- @\nRs.11/- per MT on purchase of 119544.985 MT sugarcane from member\nfarmers when sugarcane purchase price given

ACIT, NA vs. ARI CIRCLE, NAVSARIVS.M/S. MAROLI VIBHAG KHAND UDYOG SAHAKARI MANDALI LTD.,, NAVSARI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

transfer of profits effected by payment of\nSugarcane purchase price at the rate over and above the Fait and\nRemunerative Price (FRP) holding that profit element embedded in the\nsugarcane purchase price paid to the member farmer is Rs. 13,14,995/-@\nRs.11/- per MT on purchase of 119544.985 MT sugarcane from member\nfarmers when sugarcane purchase price given

MAROLI VIBHAG KHAND UDYOG SAHAKARI MANDALI LTD,.,NA vs. ARIVS.ACIT, NAVSARI CIRCLE, , NAVSARI

transfer of profits effected by payment of\nSugarcane purchase price at the rate over and above the Fait and\nRemunerative Price (FRP) holding that profit element embedded in the\nsugarcane purchase price paid to the member farmer is Rs. 13,14,995/- @\nRs.11/- per MT on purchase of 119544.985 MT sugarcane from member\nfarmers when sugarcane purchase price given

SAHAKARI KHAND UDYOG MANDAL LTD.,,GANDEVI vs. ACIT, NAVSARI CIRCLE, NAVSARI, NAVSARI

transfer of profits effected by payment of\nSugarcane purchase price at the rate over and above the Fait and\nRemunerative Price (FRP) holding that profit element embedded in the\nsugarcane purchase price paid to the member farmer is Rs. 13,14,995/-@\nRs.11/- per MT on purchase of 119544.985 MT sugarcane from member\nfarmers when sugarcane purchase price given