THE DY. CIT,, VISAKHAPATNAM vs. M/S. SNF (INDIA) LIMITED,, VISAKHAPATNAM

In the result, appeals filed by the Revenue and the Cross objections filed by the assessee are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

forwarding of formulations etc. It is also seen that some of the personnel visited India such as Pierre Lyot, Willy Durand, Fabien Blandeau, Cederic Fravero are technical personnel, to whom e-mails were addressed seeking clarification and guidance. Therefore, it can be said that the Indian entity has availed technical information from its AE in the manufacture of products

THE DY. CIT,, VISAKHAPATNAM vs. M/S. SNF (INDIA) LIMITED,, VISAKHAPATNAM

In the result, appeals filed by the Revenue and the Cross objections filed by the assessee are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

forwarding of formulations etc. It is also seen that some of the personnel visited India such as Pierre Lyot, Willy Durand, Fabien Blandeau, Cederic Fravero are technical personnel, to whom e-mails were addressed seeking clarification and guidance. Therefore, it can be said that the Indian entity has availed technical information from its AE in the manufacture of products

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

carried on by the assessee 14 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) and the consideration if any w.r.t. such transfer recorded in the accounts of the eligible business does not correspond to the market value of such goods or services then for the purposes of deduction under that section, the profit

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

carried on by the assessee 14 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) and the consideration if any w.r.t. such transfer recorded in the accounts of the eligible business does not correspond to the market value of such goods or services then for the purposes of deduction under that section, the profit

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

carried on by the assessee 14 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) and the consideration if any w.r.t. such transfer recorded in the accounts of the eligible business does not correspond to the market value of such goods or services then for the purposes of deduction under that section, the profit

LEWEK ALTAIR SHIPPING PRIVATE LIMITED,,KAKINADA vs. THE ACIT,, KAKINADA

In the result, the appeals of the assessee are partly allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

carried out economic analysis in search for comparables and has used “one source – Global Business Browser”, data base in search for comparable companies. For the “Oil and Gas Field Services” after applying certain filters, the tax payer has short listed 7 comparables, arithmetic mean of PLI was computed at 19.22% as against the PLI of the taxpayer at 28.36%. Accordingly

LEWEK ALTAIR SHIPPING PRIVATE LIMITED,KAKINADA vs. DCIT, CIRCLE-1,, KAKINADA

In the result, the appeals of the assessee are partly allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

carried out economic analysis in search for comparables and has used “one source – Global Business Browser”, data base in search for comparable companies. For the “Oil and Gas Field Services” after applying certain filters, the tax payer has short listed 7 comparables, arithmetic mean of PLI was computed at 19.22% as against the PLI of the taxpayer at 28.36%. Accordingly

TEEJAY INDIA PRIVATE LIMITED,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 5(1), VISAKHAPATNAM

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble(Through Hybrid Hearing) आयकर अपील सं./(I.T.)I.T.A.No.626/Viz/2018 (िनधा"रण वष" / Assessment Year : 2014-15) Teejay India Private Limited Vs. Asst.Commissioner Of Apsez, Pudimadaka Road Income Tax Atchutapuram Mandal Circle-5(1) Visakhapatnam Visakhapatnam [Pan : Aaaco9452H] (अपीलाथ"/ Appellant) (""थ"/ Respondent) अपीलाथ" की ओर से/ Appellant By : Shri Darpan Kirpalani ""ाथ" की ओर से / Respondent By : Dr.Satyasai Rath, Cit(Dr) सुनवाई की तारीख / Date Of Hearing : 22.01.2024 घोषणा की तारीख/Date Of Pronouncement : 13.02.2024 आदेश /O R D E R Per Shri Balakrishnan S

forward losses. The return was processed u/s 143(1) of the Act, assessing total income at Rs.2,68,01,746/-. Subsequently, the case was selected for scrutiny under CASS and notice u/s 143(2) was issued and served on the assessee on 11.09.2015. Subsequently, notices u/s 143(2) and 142(1) of the Act along with questionnaires were issued

ASST. COMMISSIONER OF INCOME TAX, VIJAYAWADA vs. FYSOLATE TECHNOLOGIES, VIJAYAWADA

In the result, appeal of the Revenue is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.182/Viz/2023 (िनधा"रण वष" / Assessment Year : 2017-18) Assistant Commissioner Of Vs. Fysolate Technologies, Income Tax, Vijayawada. Vijawayada. Pan: Aacff5633L (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Assessee By : Sri Mithilesh Sannareddy ""याथ" क" ओर से / Revenue By : Dr. Satyasai Rath, Cit-Dr सुनवाई क" तारीख / Date Of Hearing : 16/04/2024 घोषणा क" तारीख/Date Of : 15/07/2024 Pronouncement O R D E R

Loss Account, AE M/s. Laila Nutra is more capital intensive and also performing more complex functions at the entity level in comparison to the assessee. The Ld. TPO also observed that the AE has sold the raw material to the assessee and if an AE has to be taken as Tested Party, appropriate comparables should be selected of those entities

MAHATI SOFTWARE PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee are partly allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

transfer pricing document also does not show any such requirement of payment of advance to the AE. During the appeal hearing also the assessee did not establish with any evidence to show that the assessee is required to make payment to the AE for executing the project or for trade advance etc. Since the advance given

M/S. MAHATI SOFTWARE PVT. LTD.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee are partly allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

transfer pricing document also does not show any such requirement of payment of advance to the AE. During the appeal hearing also the assessee did not establish with any evidence to show that the assessee is required to make payment to the AE for executing the project or for trade advance etc. Since the advance given

TEEJAY INDIA PRIVATE LIMITED.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble(Through Hybrid Hearing) आयकरअपीलसं./ I.T.(Tp).A. No.44/Viz/2017 ("नधा"रणवष"/ Assessment Year : 2012-13) Teejay India Private Limited, Vs. Assistant Commissioner Of Plot No. 15, Brandix India Apparel Income Tax, City Private Limited Sez, Circle-5(1), 2Nd Floor, Direct Pudimadaka Road, Atchutapuram, Taxes Building, Mvp Double Visakhapatnam – 530 011. Road, Visakhapatnam, Pan: Aaaco 9452 H Andhra Pradesh. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri Darpan Kirpalani ""याथ"क"ओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr

transfer pricing documentation was prepared by the assessee; 3.3 Disregarding the peculiar economic conditions faced by the assessee during AY 2012-13 for carrying out its manufacturing operations; 3.4. Not providing appropriate adjustment under Rule 10B(3)(ii) of the Income Tax Rules, 1962 on account of 3.4.1.Abnormal business loss suffered by the assessee; 3.4.2.Underutilization of capacity by the assessee

GVK POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, RAJAHMUNDRY

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकरअपीलसं./I.T.A.No.553/Viz/2018 (ननधधारण वर्ा/Assessment Year:2014-15) M/S Gvk Power & Infrastructure Ltd. Vs. Asst.Commissioner Of D.No.5-48, Gvk Power Plant Income Tax Jegurupadu, Kadiyammandal Circle-2(1) East Godavari Rajamahendravaram [Pan :Aaacj5599A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओ रसे/ Appellant By Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By Shri D.K.Sonowal, Cit Dr सुनवधई की तधरीख / Date Of Hearing : 21.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03.04.2019

carrying on the business with various objects and the company has given interest free advances to the subsidiary companies for accomplishing the objects through the verticals. Therefore, the case law relied upon by the assessee in Modi Entertainment Ltd. is squarely applicable on the facts of the case. 16.9. In the case of Tulip Star Hotels

DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. CCL PRODUCTS (INDIA) LIMITED, GUNTUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A. No.97/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2011-12) Deputy Commissioner Of Income V. Ccl Products (India) Limited, Tax, Guntur-522330, Guntur-522004. Andhra Pradesh. Pan: Aaacc9552G (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

transfer pricing adjustment on account of interest income short charged / uncharged as held by Hon’ble Delhi High Court in the case of MCkinsey Knowledge Centre India (P.) Ltd vs. Pr. CIT (2018) (96 taxmann.com 237) (Del) on which SLP filed by the assessee was also dismissed by the Hon’ble Supreme Court in 102 taxmann.com 439 (SC) (2019). Page

DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. CCL PRODUCTS (INDIA) LIMITED, GUNTUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A. No.97/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2011-12) Deputy Commissioner Of Income V. Ccl Products (India) Limited, Tax, Guntur-522330, Guntur-522004. Andhra Pradesh. Pan: Aaacc9552G (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

transfer pricing adjustment on account of interest income short charged / uncharged as held by Hon’ble Delhi High Court in the case of MCkinsey Knowledge Centre India (P.) Ltd vs. Pr. CIT (2018) (96 taxmann.com 237) (Del) on which SLP filed by the assessee was also dismissed by the Hon’ble Supreme Court in 102 taxmann.com 439 (SC) (2019). Page

DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. CCL PRODUCTS (INDIA) LIMITED, DUGGIRALA

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A. No.97/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2011-12) Deputy Commissioner Of Income V. Ccl Products (India) Limited, Tax, Guntur-522330, Guntur-522004. Andhra Pradesh. Pan: Aaacc9552G (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

transfer pricing adjustment on account of interest income short charged / uncharged as held by Hon’ble Delhi High Court in the case of MCkinsey Knowledge Centre India (P.) Ltd vs. Pr. CIT (2018) (96 taxmann.com 237) (Del) on which SLP filed by the assessee was also dismissed by the Hon’ble Supreme Court in 102 taxmann.com 439 (SC) (2019). Page

TEEJAY INDIA PRIVATE LIMITED,VISAKHAPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5(1), VISAKHAPATNAM

Bench: Shri Ravish Sood, Hon’Ble & Shri Omkareshwar Chidara, Hon’Ble

Transfer Pricing adjustment as per the order passed by the TPO under section 92CA(3) of the Act dated 31.10.2023: Rs.21,90,56,110/-. 8. The assessee-company aggrieved with the order passed by the A.O under Section 143(3) r.w.s 144C(13) r.w.s 144B of the Act, dated 30.10.2024, has carried the matter in appeal before

M/S. PIONEER ELASTIC INDIA PVT. LTD.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अऩीऱ सं./ I.T.A. No.167/Viz/2017 (ननधधारण वषा / Assessment Year :2012-13) M/S. Pioneer Elastic India Pvt Ltd., Vs. Asst. Commissioner Of Plot No.06, Brandix India Appareal Income Tax, City Sez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 531011. Pan: Aaecp 3529 N (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) आयकर अऩीऱ सं./ I.T.A. No.05/Viz/2018 (ननधधारण वषा / Assessment Year :2013-14) M/S. Pioneer Elastic India Pvt Ltd., Vs. Asst. Commissioner Of Plot No.06, Brandix India Appareal Income Tax, City Sez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 531011. Pan: Aaecp 3529 N (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Sri P.V.S.S. Prasad, Ca & Sri A. Vamsi Rajesh, Ca प्रत्यधथी की ओर से / Respondent By : Sri Mn Murthy Naik, Cit-Dr सुनवधई की तधरीख / Date Of Hearing : 23/05/2022 घोषणध की तधरीख/Date Of : 27/07/2022 Pronouncement

loss of Rs. 1,47,93,576/-. The return was summarily processed U/s. 143(1) and was 3 subsequently selected for scrutiny under CASS and statutory notices U/s. 143(2) was duly served on the assessee on 21/8/2013. The AO noticed that the international transactions entered into by the assessee company during the AY 2012-13 exceeded Rs. 15 Crores

POINEER ELASTIC INDIA PRIVATE LIMITED,VISAKHAPATNAM vs. ACIT, CIRCLE-5(1), , VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अऩीऱ सं./ I.T.A. No.167/Viz/2017 (ननधधारण वषा / Assessment Year :2012-13) M/S. Pioneer Elastic India Pvt Ltd., Vs. Asst. Commissioner Of Plot No.06, Brandix India Appareal Income Tax, City Sez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 531011. Pan: Aaecp 3529 N (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) आयकर अऩीऱ सं./ I.T.A. No.05/Viz/2018 (ननधधारण वषा / Assessment Year :2013-14) M/S. Pioneer Elastic India Pvt Ltd., Vs. Asst. Commissioner Of Plot No.06, Brandix India Appareal Income Tax, City Sez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 531011. Pan: Aaecp 3529 N (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Sri P.V.S.S. Prasad, Ca & Sri A. Vamsi Rajesh, Ca प्रत्यधथी की ओर से / Respondent By : Sri Mn Murthy Naik, Cit-Dr सुनवधई की तधरीख / Date Of Hearing : 23/05/2022 घोषणध की तधरीख/Date Of : 27/07/2022 Pronouncement

loss of Rs. 1,47,93,576/-. The return was summarily processed U/s. 143(1) and was 3 subsequently selected for scrutiny under CASS and statutory notices U/s. 143(2) was duly served on the assessee on 21/8/2013. The AO noticed that the international transactions entered into by the assessee company during the AY 2012-13 exceeded Rs. 15 Crores