BHARUCH DISTRICT CENTRAL CO.-OP. BANK LTD.,,BHARUCH vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHAURCH RANGE,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

50,00,000/- @ 10% of average advances made by rural branches of the assessee bank u/s 36(1)(viia) of the Act, holding that the assessee co-operative bank falls under the category of non-scheduled bank and eligible for above deduction without appreciating the Explanation (ia) below section 36(1)(viia

BHARUCH DISTRICT CENTRAL CO.-OP. BANK LTD.,,BHARUCH vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHAURCH RANGE,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

50,00,000/- @ 10% of average advances made by rural branches of the assessee bank u/s 36(1)(viia) of the Act, holding that the assessee co-operative bank falls under the category of non-scheduled bank and eligible for above deduction without appreciating the Explanation (ia) below section 36(1)(viia

THE ACIT, CIRCLE-1,, BHARUCH vs. BHARUCH DISTRICT CENTRAL CO. OP. BANK LTD.,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

50,00,000/- @ 10% of average advances made by rural branches of the assessee bank u/s 36(1)(viia) of the Act, holding that the assessee co-operative bank falls under the category of non-scheduled bank and eligible for above deduction without appreciating the Explanation (ia) below section 36(1)(viia

BHARUCH DISTRICT CENTRAL CO.-OP. BANK LTD.,,BHARUCH vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHAURCH RANGE,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

50,00,000/- @ 10% of average advances made by rural branches of the assessee bank u/s 36(1)(viia) of the Act, holding that the assessee co-operative bank falls under the category of non-scheduled bank and eligible for above deduction without appreciating the Explanation (ia) below section 36(1)(viia

THE ACIT, CIRCLE-1,, BHARUCH vs. BHARUCH DISTRICT CENTRAL CO. OP. BANK LTD.,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

50,00,000/- @ 10% of average advances made by rural branches of the assessee bank u/s 36(1)(viia) of the Act, holding that the assessee co-operative bank falls under the category of non-scheduled bank and eligible for above deduction without appreciating the Explanation (ia) below section 36(1)(viia

THE ACIT, CIRCLE-1,, BHARUCH vs. BHARUCH DISTRICT CENTRAL CO. OP. BANK LTD.,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

50,00,000/- @ 10% of average advances made by rural branches of the assessee bank u/s 36(1)(viia) of the Act, holding that the assessee co-operative bank falls under the category of non-scheduled bank and eligible for above deduction without appreciating the Explanation (ia) below section 36(1)(viia

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

Bench: Shri Dinesh Mohan Sinha & Shri Bijyananda Pruseth

50,683/- was allowable both under section 28 and section 37 and the disallowance of portion of sugarcane price thereof results into Department taxing unreal and wrong amount of income and hence, liable to be struck down. 4. On the facts and in the circumstances of the case as well in law, As per Sr.No. 1 above both the lower

BETEX INDIA LIMITED,SURAT vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2, SURAT

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

transferred the equity shares of Survika Vinimay Pvt Ltd, which were purchased at a premium of Rs.187/- to Directors and group companies of Sumeet Group namely Betex India Ltd and Ambaji Syntex Pvt. Ltd. at Rs.10/- which was the face value of shares of Survika Vinimay Pvt. Ltd. By this Sumeet Group companies and its directors have got control over

DCIT, CENTRAL CIRCLE-2, SURAT, SURAT vs. DHANPRIYA PRINTS PVT. LTD.,, SURAT

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

transferred the equity shares of Survika Vinimay Pvt Ltd, which were purchased at a premium of Rs.187/- to Directors and group companies of Sumeet Group namely Betex India Ltd and Ambaji Syntex Pvt. Ltd. at Rs.10/- which was the face value of shares of Survika Vinimay Pvt. Ltd. By this Sumeet Group companies and its directors have got control over

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2, SURAT vs. BETEX INDIA LIMITED, SURAT

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

transferred the equity shares of Survika Vinimay Pvt Ltd, which were purchased at a premium of Rs.187/- to Directors and group companies of Sumeet Group namely Betex India Ltd and Ambaji Syntex Pvt. Ltd. at Rs.10/- which was the face value of shares of Survika Vinimay Pvt. Ltd. By this Sumeet Group companies and its directors have got control over

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

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

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

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 Officer in making upward adjustment of Rs.1,78,86,359/- out of guarantee fee charges to the income of the appellant company on account of determining the arm’s length price of the international transactions. The action of the learned Commissioner of Income- tax (Appeals) is contrary to the facts and law and deserve to be deleted

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 Officer in making upward adjustment of Rs.1,78,86,359/- out of guarantee fee charges to the income of the appellant company on account of determining the arm’s length price of the international transactions. The action of the learned Commissioner of Income- tax (Appeals) is contrary to the facts and law and deserve to be deleted

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 Officer in making upward adjustment of Rs.1,78,86,359/- out of guarantee fee charges to the income of the appellant company on account of determining the arm’s length price of the international transactions. The action of the learned Commissioner of Income- tax (Appeals) is contrary to the facts and law and deserve to be deleted

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 Officer in making upward adjustment of Rs.1,78,86,359/- out of guarantee fee charges to the income of the appellant company on account of determining the arm’s length price of the international transactions. The action of the learned Commissioner of Income- tax (Appeals) is contrary to the facts and law and deserve to be deleted