OCEAN INDIA PVT. LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blei.T. (T.P.) A. No. 150/Viz/2016 (Asst. Year : 2011-12) M/S. Teejay India Pvt. Ltd. Vs. The Acit, Circle-5(1), (Formerly Known As Ocean Visakhapatnam. India Pvt. Ltd.), Plot No. 15, Brandix India Apparel City Pvt. Ltd. Sez, Pudimadaka Road, Atchutapuram, Visakhapatnam. Pan No. Aaaco 9452 H (Appellant) (Respondent)

transfer pricing adjustment on the international transaction relating to sale of finished goods and purchases of raw materials made by the Assessee from its AEs, incorrectly; 3.10. Computing the mark up on cost/ margin on sales of the comparable companies in his order and not providing actual working capital adjustment; 3.11. Not appreciating the limited-risk nature of the manufacturing

GVR POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. ACIT, CIRCLE - 2(1), RAJAHMUNDRY

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

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

transfer pricing officer found GVK Power & Infrastructure Ltd., Jegurupadu that the assessee has receivables of Rs.7,32,97,465/- as at the end of the year. The TPO requested the assessee to submit the details of raising the invoice and subsequent receipt of the amount and also called for an explanation as to why notional interest should not be charged

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

loss. 6.1. During the appeal hearing, the Ld.AR also did not explain the reasons with relevant documentation. It is obligation on the part of the assessee to follow the rule of law of the land and to acquire the vessels only after obtaining the necessary permission. In the instant case the assessee has neither paid any penal interest nor acquired

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

loss. 6.1. During the appeal hearing, the Ld.AR also did not explain the reasons with relevant documentation. It is obligation on the part of the assessee to follow the rule of law of the land and to acquire the vessels only after obtaining the necessary permission. In the instant case the assessee has neither paid any penal interest nor acquired

ASSISTANT COMMISSIONER OF INCOME, CIRCLE-1(1),, GUNTUR vs. M/S CCL PRODUCTS(INDIA) LIMITED, GUNTUR

In the result, appeal of the revenue is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.348/Viz/2018 (ननधधारण वर्ा/ Assessment Year:2014-15) Dcit, Circle-1(1) Vs. M/S Ccl Products (India) Guntur Pvt. Ltd. Duggirala Post & Mandal Guntur [Pan : Aaacc9552G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri D.K.Sonowal, Dr प्रत्यधथी की ओर से/ Respondent By : Shri Ramesh Babu, Ar सुनवधई की तधरीख / Date Of Hearing : 20.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03 .04.2019

Transfer pricing - Computation of arm's length price (Comparables and Adjustments/Adjustments - Interest) - Assessment year 2011-12 - TPO noted that there was delay in receipt of payment from AE and observed that estimate period of 30 days would be considered as normal period for inter-company sales and services and any delay beyond said period should be benchmarked - After treating said

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

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 and served

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

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

transfer pricing study. The assessee has brought on record the number of case laws relied up on, but the revenue did not make out a case for rejection of the commission @ 0.25% to 0.53%, which is held to be reasonable. Neither the A.O. nor DRP brought on record any decision, which is held to be more favourable to the revenue

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

LEWEK ALTAIR SHIPPING PRIVATE LIMITED,KAKINADA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1, KAKINADA

In the result, the appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.146/Viz/2021 & 147/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2012-13 & 2013-14) Lewek Altair Shipping Private Limited Vs. Dy.Commissioner Of Income Tax D.No.3-16-193/1, Sri Vidya Colony Circle-1 Suryarao Peta, Kakinada Kakinada [Pan : Aabcl9766C] अपीलधथी की ओर से/ Appellant By : Shri Jitendra Singh, Ar प्रत्यधथी की ओर से / Respondent By : Shri Mn Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing : 21.11.2022 घोर्णध की तधरीख/Date Of Pronouncement : 23.01.2023 O R D E R Per Shri S.Balakrishnan: These Appeals Are Filed By The Assessee Against The Orders Of The Ao/Tpo/Dispute Resolution Panel-1, Bengaluru(Drp In Short) U/S 143(3) R.W.S 144C Of The Income Tax Act For The Assessment Years 2012-13 & 2013-14 Respectively. Since The Facts Are Identical, Both The Appeals Are Clubbed, Heard Together & Disposed Off In A Common Order For The Sake Of Convenience & The Facts Are Extracted From I.T.A.No.146/Viz/2021 For The A.Y.2012-13. 2 Ita No.146/Viz/2021 & 147/Viz/2021, A.Y.2012-13 & 2013-14 Lewek Altair Shipping Private Ltd., Kakinada

transfer pricing issue. Fresh approval has been obtained from Pr.CIT-2, Visakhapatnam and the case was referred to TPO, Hyderabad for determination of Arm’s Length Price (ALP) in conformity with the directions of Hon’ble ITAT. In the instant case, the assessee has paid bareboat rentals of Rs.43,35,50,310/- to Lewek Shipping Pte Ltd., Singapore and Ship

LEWEK ALTAIR SHIPPING PRIVATE LIMITED,KAKINADA vs. DEPUTY COMMSSIONER OF INCOME TAX, CIRCLE-1, KAKINADA

In the result, the appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.146/Viz/2021 & 147/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2012-13 & 2013-14) Lewek Altair Shipping Private Limited Vs. Dy.Commissioner Of Income Tax D.No.3-16-193/1, Sri Vidya Colony Circle-1 Suryarao Peta, Kakinada Kakinada [Pan : Aabcl9766C] अपीलधथी की ओर से/ Appellant By : Shri Jitendra Singh, Ar प्रत्यधथी की ओर से / Respondent By : Shri Mn Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing : 21.11.2022 घोर्णध की तधरीख/Date Of Pronouncement : 23.01.2023 O R D E R Per Shri S.Balakrishnan: These Appeals Are Filed By The Assessee Against The Orders Of The Ao/Tpo/Dispute Resolution Panel-1, Bengaluru(Drp In Short) U/S 143(3) R.W.S 144C Of The Income Tax Act For The Assessment Years 2012-13 & 2013-14 Respectively. Since The Facts Are Identical, Both The Appeals Are Clubbed, Heard Together & Disposed Off In A Common Order For The Sake Of Convenience & The Facts Are Extracted From I.T.A.No.146/Viz/2021 For The A.Y.2012-13. 2 Ita No.146/Viz/2021 & 147/Viz/2021, A.Y.2012-13 & 2013-14 Lewek Altair Shipping Private Ltd., Kakinada

transfer pricing issue. Fresh approval has been obtained from Pr.CIT-2, Visakhapatnam and the case was referred to TPO, Hyderabad for determination of Arm’s Length Price (ALP) in conformity with the directions of Hon’ble ITAT. In the instant case, the assessee has paid bareboat rentals of Rs.43,35,50,310/- to Lewek Shipping Pte Ltd., Singapore and Ship

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 is a legislation seeking the tax- payers to organise their affairs in a manner compliant with the norms set-out. In short, it is an anti abuse legislation which tells you as to what is the acceptable behaviour but it does not trigger levy of tax in a retrospective manner because no party can be asked

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 is a legislation seeking the tax- payers to organise their affairs in a manner compliant with the norms set-out. In short, it is an anti abuse legislation which tells you as to what is the acceptable behaviour but it does not trigger levy of tax in a retrospective manner because no party can be asked

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 is a legislation seeking the tax- payers to organise their affairs in a manner compliant with the norms set-out. In short, it is an anti abuse legislation which tells you as to what is the acceptable behaviour but it does not trigger levy of tax in a retrospective manner because no party can be asked

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

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