TEEJAY INDIA PRIVATE LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, DC/AC 4(1), VISAKHAPATNAM

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

144C(13) r.w.s 143(3A) & 143(3B) of the Income Tax Act, 1961 [the Act] for the AY 2016-17. 2. Brief facts of the case are that the assessee-company, M/s. Teejay India Private Limited (formerly known as M/s. Ocean India Pvt Ltd) is engaged in the business of manufacturing and exporting of knitted fabrics/apparels at Brandix APSEZ, Atchutapuram

DEPUTY COMMISSIONER OF INCOME TAX (IT), VISAKHAPATNAM vs. SHRI APPARAO MUKKAMALA, USA

In the result, the appeal filed by the revenue is dismissed, while for the cross-objection filed by the assessee is allowed

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI BALAKRISHNAN. S, HON’BLE (Accountant Member)

transfer of 1,06,900 shares by the assessee at Rs. 657 per share for a total consideration of Rs. 7,02,33,300. 4. On the other hand, the seized scribbling contained entries which the department construed as cash payments to certain persons, including the assessee. The noting in the seized scribblings mentioned, viz. “18/08/2015 – 100 cash Appa

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

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

144C of the Income Tax Act, 1961 (in short Act) dated 25.10.2018. 2. Brief facts of the case are that the assessee, M/s Teejay India Private Limited (formerly known as M/s Ocean India Pvt. Ltd.) engaged in the business of manufacturing and exporting knitted fabrics / apparels at Brandix APSEZ, Atchutapuram, Visakhapatnam, filed it’s return of income 2 (I.T) I.T.A

ANDHRA PAPER LIMITED,RAJAHMUNDRY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY

In the result, appeal of the assessee is dismissed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.349/Viz/2024 (निर्धारण वर्ा/ Assessment Year:2020-21) Vs. Acit – Circle -1 Andhra Paper Limited 14-6-9, Admin Office Veerabhadrapuram Kateru Road Rajahmundry-533101 Sri Ramnagar S.O. (Rajahmundry) Andhra Pradesh Rajahmundry (Urban) East Godavari – 533105 Andhra Pradesh [Pan: Aaact8849D]

Transfer Pricing Officer, [in short “TPO’] under section 92CA(1) of the Act for determining Arm’s Length Price in respect of the International Transactions reported by the assessee during the A.Y.2020-21. As per Form 3CEB the following International Transactions have been benchmarked using CUP Method. Page. No 2 I.T.A.No.349/VIZ/2024 Andhra Paper Limited 35th to 65th Amount Method Description

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

Transfer Pricing Officer [“Ld. TPO”] issued notices on various dates U/s. 92CA of the Act. In response, the assessee furnished the information as called for along with the T.P. Documentation. The assessee claimed deduction U/s. 10AA of the Act. The domestic transactions reflected in 3CEB/T.P. Study report are as follows: Description In Rs. Purchase of crude Herbal Extracts and oils

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

SNF (INDIA) PRIVATE LIMITED,VISAKHAPATNAM vs. DCIT/ACIT, CIRCLE - 3(1), VISAKHAPATNAM

In the result, appeal of the revenue is dismissed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.No.204/Viz/2025 (निर्धारणवर्ा/ Assessment Year:2016-17) Vs. M/S. Snf (India) Private Limited Dcit - Circle – 3(1) 19 Jnpc, Ramky Pharmacity Income Tax Office Paravada, Visakhapatnam – 531021 Infinity Towers, Sankarmat Road Andhra Pradesh Visakhapatnam – 530016 Andhra Pradesh [Pan:Aaacp4070A]

Transfer Pricing officer)-1, Hyderabad passed an order under section 92CA(3) of the Act on 29.10.2019 vide Order No. ITBA/TPO/F/92CA3/2019-20/1019531492(1) for the A.Y. 2016-17. The assessee has entered into the international transactions as follows: Associated Nature of Amount Paid Amount Enterprises International/Domestic Payable Received/Receivable Transactions (Amount in (Amount in INR) INR) Purchase of various

DCIT, CIRCLE - 3(1), VISAKHAPATNAM vs. SNF INDIA PRIVATE LIMITED, VISAKHAPATNAM

pricing), Hyderabad on 15.11.2018 after obtaining\napproval from the Appropriate Authorities. Accordingly, the Dy.CIT (Transfer\nPricing officer)-1, Hyderabad passed an order under section 92CA(3) of the Act\non 29.10.2019 vide Order No. ITBA/TPO/F/92CA3/2019-20/1019531492(1)\nfor the A.Y. 2016-17. The assessee has entered into the international\ntransactions as follows:\nAssociated\nEnterprises\nNature of\nInternational/Domestic\nTransactions\nAmount\nReceived/Receivable

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

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

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.340/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2020-21) & S.A. No. 15/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2020-21) Teejay India Private Limited, Vs. Deputy Commissioner Of Plot No. 15, Brandix, Apsez, Income Tax, Pudimadaka Road, Atchutapuram Circle-5(1), Mandal, Visakhapatnam-530011. Visakhapatnam. Pan: Aaaco9452H (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

144C(13) r.w.s 144B of the Act on 26/06/2024. Aggrieved by the final order passed by Ld. AO, the assessee filed the present appeal before us. 4. The assessee has raised the following grounds of appeal: “1. That the order of the Additional/Joint/Deputy/Assistant Commissioner of Income Tax / Income Tax Officer, National E-assessment Centre, New Delhi

DCIT, CIRCLE - 3(1), VISAKHAPATNAM vs. SNF INDIA PRIVATE LIMITED, VISAKHAPATNAM

pricing), Hyderabad on 15.11.2018 after obtaining\napproval from the Appropriate Authorities. Accordingly, the Dy.CIT (Transfer\nPricing officer)-1, Hyderabad passed an order under section 92CA(3) of the Act\non 29.10.2019 vide Order No. ITBA/TPO/F/92CA3/2019-20/1019531492(1)\nfor the A.Y. 2016-17. The assessee has entered into the international\ntransactions as follows:\nAssociated\nEnterprises\nNature of\nInternational/Domestic\nTransactions\nAmount\nReceived/Receivable

GVK POWER AND INFRASTRUCTURE LIMITED,JEGURUPADU vs. DCIT, CIRCLE-1, RAJAHMUNDRY

In the result, appeal of the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

144C(13) r.w.s 144B of the Income Tax Act, 1961 vide order dated 28/2/2022 in DIN No. ITBA/AST/S/143(3)/2021-22/1040175032(1) for the AY 2017-18. 2. Briefly stated the facts are that the assessee filed e-return of income for the AY 2017-18 on 27/11/2017 and revised the same on 7/12/2017 and once again revised on 15/9/2018 admitting

3F INDUSTRIES LIMITED,TADEPALLIGUDEM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, , ELURU

In the result, appeal of the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

144C(13) of the Act. Aggrieved by the final assessment order of the Ld. AO, the assessee is in appeal before us. 3. The assessee has raised the following grounds of appeal: “Based on the facts and circumstances of the case and in law, the Ld. AO / TPO and the Hon’ble DRP erred in: TRANSFER PRICING MATTER: 1. Notional

BRANDIX APPARAL INDIA PRIVATE LIMITED,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 5(1), 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.A. No.627/Viz/2018 ("नधा"रणवष"/ Assessment Year : 2014-15) Brandix Apparel India Private Vs. Assistant Commissioner Of Limited, Income Tax, Apsez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 530011. Pan: Aaccb 6569 L (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri Darpan Kriplani ""याथ"क"ओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr

144C of the Income Tax Act, 1961 [the Act] dated 29/10/2018. 2 2. Briefly stated the facts of the case are that the assessee is engaged in the provision of processing services in relation to manufacture of garments to the Brandix Group of companies. The assessee, M/s. Brandix Apparel India Private Limited (in short BAI) is compensated on a cost

3F INDUSTRIES LIMITED,TADEPALLIGUDEM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY

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

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.434/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2021-22) 3F Industries Limited V. Asst. Cit – Circle – 1 Aayakar Bhavan Pb No. 15, Tanuku Road Veerabhadrapuram Tadepalligudem, West Godavari Rajahmundry – 533105 Andhra Pradesh - 534102 Andhra Pradesh [Pan: Aaacf2643K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

144C(13) of the Income Tax Act, 1961 ('the Act) dated 23 September 2024, the Ld. AO / Ld. Transfer Pricing Officer ('TPO") and the Hon'ble Dispute Resolution Panel ('DRP') erred in: Ground No 1: Notional guarantee fee on shareholder's guarantee Making adjustment on the shareholders corporate guarantee provided to the banks for loans availed by the AE, without

3F INDUSTRIES LIMITED,TADEPALLIGUDEM vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAMAHENDRAVARAM

In the result, appeal of the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

144C of the Income Tax Act, 1961 for the AY 2016-17. 2. Brief facts of the case are that the assessee-company is engaged in the business of manufacture and trading of edible oils and agro-based products, filed its original return of income on 30/11/2016 for the AY 2016-17 declaring an income

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

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

144C(3) of the Income Tax Act, 1961 [the Act] for the AY: 2014-15, dated 23/10/2018. 2 2. Brief facts of the case are that the assessee is engaged in the business of manufacture and distribution of ladies inner ware and readymade garments on contract basis filed its return of income for the AY 2014-15 dated 29/11/2014

ARKHA SOLAR POWER PRIVATE LIMITED,RAJAHMUNDARY vs. DCIT-1 , KAKINADA

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble(Through Hybrid Hearing) आयकरअपीलसं./ I.T.A. No.92/Viz/2022 ("नधा"रणवष"/ Assessment Year : 2017-18) Arkha Solar Power Private Vs. Deputy Commissioner Of Limited, Income Tax-1, Elakolanu Village, 4Th Floor, Sri Deepthi Towers, Rangampeta, Rajahmundry, Main Road, Kakinada, Andhra Pradesh – 533294. Andhra Pradesh-533001. Pan: Aalca 4293K (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Ms. Karishma R. Phatarphekar ""याथ"क"ओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr

144C(13) r.w.s 144B of the Income Tax Act, 1961 [the Act] vide DIN No. 2 ITBA/AST/S/143(3)/2021-22/1040122408(1), dated 25/02/2022 for the AY 2017-18. 2. Brief facts of the case are that the assessee is engaged in the business of Solar Power generation filed its return of income on 30/11/2017 declaring NIL income and by claiming brought

3F INDUSTRIES LIMITED,TADEPALLIGUDEM vs. ASSISTANT COMMISSSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY

In the result, appeal filed by the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.275/Viz/2024 (िनधा"रणवष"/ Assessment Year :2020-21) 3F Industries Limited, Vs. Assistant Commissioner Of P.B. No. 15, Tanuku Road, Income Tax, Tadepalligudem, West Godavari Circle-1, District, Andhra Pradesh-534101. Rajahmundry. Pan: Aaacf2643K (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Ms. Suvibha Nolkha, Ar ""याथ"क"ओरसे/ Respondent By : Dr. Satyasai Rath, Cit-Dr सुनवाईक"तारीख/ Date Of Hearing : 07/10/2024 घोषणाक"तारीख/Date Of : 30/10/2024 Pronouncement O R D E R

144C(13) r.w.s. 144B of the Income Tax Act, 1961 [“the Act”] for the AY 2020-21. 2 2. Brief facts of the case are that the assessee-company is engaged in the business of manufacture and trading of edible oils and its by-products, bakery shortenings and margarine, specialty fats by importing raw material from its Associated Enterprises, filed