Section 92C(4) of the Income Tax Act

Income-tax Act, 2025: s.165

Section 92C(4) falls under section 92C of the Income-tax Act, 1961, which corresponds to section 165 (Determination of arm’s length price) of the Income-tax Act, 2025.

Read section 165 of the 2025 Act

Correspondence checked against the ICAI tabular mapping of the two Acts and the BharatTax.co section commentary.

The decision most relied on for Section 92C(4) is CIT v. Nirma Ltd. (397 ITR 49), cited in 82 of the 38 judgments on BharatTax that turn on this section.

Leading authorities on Section 92C(4)

CIT v. Nirma Ltd.
397 ITR 49 · 2017 · High Court
82
citing judgments

Interest from debtors and foreign exchange rate difference arising from exports are includible in the eligible profit for computing deductions under section 80HHC.

CIT v. Bhari Information Technology Systems (P.) Ltd.
340 ITR 593 · 2012 · Supreme Court
32
citing judgments

Section 115JB of the Income Tax Act, 1961, is a self-contained code, meaning only adjustments specified within the section are to be considered for book profits. Deductions, such as under Section 80HHC, should be allowed based on book profits, not adjustments under Section 115JB.

CIT v. Impel Forge and Allied
326 ITR 27 · 2010 · High Court
20
citing judgments

Job work charges are includible in the profit and gains of an industrial undertaking for the purpose of claiming deductions under Section 80IB.

24 SC), CIT v. HDFC Bank Ltd (
313 ITR 414 · 2009 · Reported
7
citing judgments
Approva Systems (P.) Ltd. v. DCIT, Circle-1, Pune
92 Taxmann.com 82 · 2018 · Reported
7
citing judgments
M/s. Topman Exports v. ITO
125 TTJ 298 · ITAT
6
citing judgments
24/7 Customer (P) Ltd. v. DCIT
153 Taxmann.com 185 · 2023 · Reported
6
citing judgments
CIT v. Light Alloy Product Ltd.
373 ITR 322 · Reported
6
citing judgments
ACIT v. Nagendra Polyplast
69 SOT 718 · ITAT
6
citing judgments

Judgments on Section 92C(4)

Lakshmi Machine Works Ltd., Coimbatore vs. DCIT Company Circle I, Coimbatore

In the result, the appeal of the assessee is allowed

ITA 2094/CHNY/2017[2013-14]Status: DisposedITAT Chennai03 Jul 2026AY 2013-14

Bench: Shri Aby T. Varkey & Ms. Padmavathy.Sिनधा"रण वष"/Assessment Year: 2013-14 M/S. Lakshmi Machine Works Dcit Ltd., Company Circle I, Perianaickenpalayam, Coimbatore, Vs. Coimbatore-641020, Tamil Nadu Tamil Nadu. अपीलाथ" Appellant ""थ" Respondent Aaacl5244N Permanent Account Number Of Assessee: अपीलाथ" "ारा/Appellant Represented By: Mr. Rajan Vohra, C.A (Virtual) ""थ" "ारा/Respondent Represented By: Mr. K. Jayaganesh, Cit

Section 143(3)Section 80Section 801ASection 80I

Vodafone West Limited, (Formerly Known As Vodafone Essar Gujarat Limited), Ahmedabad vs. The Dy.CIT, Circle-4(1)(2), Ahmedabad

In the result, the appeal by the Revenue is partly allowed for statistical

ITA 671/AHD/2015[2010-11]Status: DisposedITAT Mumbai11 Dec 2025AY 2010-11

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

For Appellant: Shri K.K. VedFor Respondent: Shri Pankaj Kumar, CIT-DR
Section 142Section 143(2)Section 143(3)Section 144CSection 144C(5)Section 45Section 47Section 48Section 50D

The Dy CIT, Circle-4(1)(2), Ahmedabad vs. Vodafone West Limited, Ahmedabad

In the result, the appeal by the Revenue is partly allowed for statistical

ITA 1634/AHD/2015[2010-11]Status: DisposedITAT Mumbai11 Dec 2025AY 2010-11

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

For Appellant: Shri K.K. VedFor Respondent: Shri Pankaj Kumar, CIT-DR
Section 142Section 143(2)Section 143(3)Section 144CSection 144C(5)Section 45Section 47Section 48Section 50D

Wns Business Consulting Services Pvt. Ltd., Mumbai vs. DCIT, New Delhi

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

ITA 3353/DEL/2017[2010-11]Status: DisposedITAT Delhi17 Sept 2025AY 2010-11

Bench: Shri S Rifaur Rahman & Shri Vimal Kumar

For Appellant: S/Shri Tarandeep Singh & SandeepFor Respondent: Shri Bhopal Singh, Sr. DR
Section 143(1)Section 143(2)Section 144C(1)Section 250(6)Section 92C(3)Section 92C(4)

United Phosphorus Ltd, Mumbai vs. DCIT Cen Cir 38, Mumbai

ITA 6950/MUM/2013[2004-05]Status: DisposedITAT Mumbai27 Jun 2025AY 2004-05

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Ms. Vasanti Patel, Advocate and Ms. Saisudha Multani, CAFor Respondent: Shri Abhishek Tharwal, Sr. DR
Section 2(24)(x)Section 36(1)Section 36(1)(va)Section 80

United Phosphorus Ltd ( Formelry Known As Search Chem Industries Ltd), Mumbai vs. DCIT Cen Cir 38, Mumbai

ITA 5344/MUM/2013[2007-08]Status: DisposedITAT Mumbai27 Jun 2025AY 2007-08

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Ms. Vasanti Patel, AdvocateFor Respondent: Shri Abhishek Tharwal, Sr. DR
Section 2(24)(x)Section 36(1)Section 36(1)(va)Section 80

United Phosphorus Ltd ( Formerly Known As Search Chem Industries Ltd), Mumbai vs. DCIT Cen Cir 38, Mumbai

ITA 7028/MUM/2010[2005-06]Status: DisposedITAT Mumbai27 Jun 2025AY 2005-06

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Ms. Vasanti Patel, AdvocateFor Respondent: Shri Abhishek Tharwal, Sr. DR
Section 2(24)(x)Section 36(1)Section 36(1)(va)Section 80

United Phosphorus Ltd ( Formerly Known As Search Chem Industries Ltd), Mumbai vs. DCIT Cen Cir 38, Mumbai

ITA 7027/MUM/2010[2004-05]Status: DisposedITAT Mumbai27 Jun 2025AY 2004-05

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Ms. Vasanti Patel, AdvocateFor Respondent: Shri Abhishek Tharwal, Sr. DR
Section 2(24)(x)Section 36(1)Section 36(1)(va)Section 80

DCIT CC-38, Mumbai vs. United Phophourus Ltd ( Formerly Knwon As Search Chem Indl. Ltd), Mumbai

ITA 6807/MUM/2010[2004-05]Status: DisposedITAT Mumbai27 Jun 2025AY 2004-05

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Ms. Vasanti Patel, AdvocateFor Respondent: Shri Abhishek Tharwal, Sr. DR
Section 2(24)(x)Section 36(1)(va)Section 80

DCIT CC-38, Mumbai vs. United Phosphorus Ltd ( Formerly Known As Search Chem Indl.L Td), Mumbai

ITA 6709/MUM/2010[2005-06]Status: DisposedITAT Mumbai27 Jun 2025AY 2005-06

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Ms. Vasanti Patel, AdvocateFor Respondent: Shri Abhishek Tharwal, Sr. DR
Section 2(24)(x)Section 36(1)Section 36(1)(va)Section 80

ACIT, Circle-1, Haldwani vs. Delta Power Solution India Pvt. Ltd., U S Nagar

In the result, both the cross-appeal

ITA 1996/DEL/2018[2012-13]Status: DisposedITAT Dehradun22 Apr 2025AY 2012-13

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singhassessment Year: 2012-13 Delta Power Solution (India) Vs. Acit. Pvt. Ltd., Plot N.38, Phase-I, Circle-1, Sector 5, Iie, Pant Nagar, Haldwani Rudrapur, Distt. U.S. Nagar, Uttarakhand Pin 263 153 Pan No. Aaccd5896N (Appellant) (Respondent) Assessment Year: 2012-13 Acit. Vs. Delta Power Solution (India) Circle-1, Pvt. Ltd., Plot N.38, Phase-I, Haldwani Sector 5, Iie, Pant Nagar, Rudrapur, Distt. U.S. Nagar, Uttarakhand Pin 263 153 Pan No. Aaccd5896N (Appellant) (Respondent)

For Appellant: Shri Salil Kapoor, AdvFor Respondent: Shri A.S. Rana, Sr. DR
Section 143(3)

Delta Power Solution India Pvt. Ltd., U S Nagar vs. ACIT, Circle-1, Haldwani

In the result, both the cross-appeal

ITA 1970/DEL/2018[2012-13]Status: DisposedITAT Dehradun22 Apr 2025AY 2012-13

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singhassessment Year: 2012-13 Delta Power Solution (India) Vs. Acit. Pvt. Ltd., Plot N.38, Phase-I, Circle-1, Sector 5, Iie, Pant Nagar, Haldwani Rudrapur, Distt. U.S. Nagar, Uttarakhand Pin 263 153 Pan No. Aaccd5896N (Appellant) (Respondent) Assessment Year: 2012-13 Acit. Vs. Delta Power Solution (India) Circle-1, Pvt. Ltd., Plot N.38, Phase-I, Haldwani Sector 5, Iie, Pant Nagar, Rudrapur, Distt. U.S. Nagar, Uttarakhand Pin 263 153 Pan No. Aaccd5896N (Appellant) (Respondent)

For Appellant: Shri Salil Kapoor, AdvFor Respondent: Shri A.S. Rana, Sr. DR
Section 143(3)

Assistant Commissioner of Income Tax, Haldwani vs. Delta Power Solutions (India) Pvt. Ltd., (Now), Delta Electronics India Pvt. Ltd., Gurgaon

Accordingly. This Revenue’s appeal ITA Nos. 5543/Del/2018 is partly allowed for statistical purposes

ITA 3/DDN/2024[2013-14]Status: DisposedITAT Dehradun02 Apr 2025AY 2013-14

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2013-14 Vs. M/S. Dcit, Delta Power Solution Circle-1, (India) Pvt. Ltd., Haldwani Plot No. 38, Phase-1, Sector-5, Iie, Pantnagar, Rudrapur, Distt. Us Nagar, Udham Singh Nagar, Uttarakhand Pan: Aaccd5896N (Appellant) (Respondent) With C.O. No. 38/Del/2019 [Arise Out Of Ita No.5543/Del/2018] Assessment Year: 2013-14 Vs. Dcit, Delta Power Solution (India) Pvt. Ltd., Circle-1, Plot No. 38, Phase-1, Sector- Haldwani 5, Iie, Pantnagar, Rudrapur, Distt. Us Nagar, Udham Singh Nagar, Uttarakhand Pan: Aaccd5896N (Appellant) (Respondent) With Assessment Year: 2013-14 Vs. Delta Power Solution (India) Acit, Haldwani Pvt. Ltd. (Now, Delta Electronics India Pvt. Ltd.) Plot No. 43, Sector-35, Hsiidc, Gurgaon Pan: Aaccd5896N (Appellant) (Respondent)

Section 143(3)

DCIT, Circle-1, Haldwani vs. Delta Power Solution India Pvt. Ltd., U S Nagar

Accordingly. This Revenue’s appeal ITA Nos. 5543/Del/2018 is partly allowed for statistical purposes

ITA 5543/DEL/2018[2013-14]Status: HeardITAT Dehradun02 Apr 2025AY 2013-14

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2013-14 Vs. M/S. Dcit, Delta Power Solution Circle-1, (India) Pvt. Ltd., Haldwani Plot No. 38, Phase-1, Sector-5, Iie, Pantnagar, Rudrapur, Distt. Us Nagar, Udham Singh Nagar, Uttarakhand Pan: Aaccd5896N (Appellant) (Respondent) With C.O. No. 38/Del/2019 [Arise Out Of Ita No.5543/Del/2018] Assessment Year: 2013-14 Vs. Dcit, Delta Power Solution (India) Pvt. Ltd., Circle-1, Plot No. 38, Phase-1, Sector- Haldwani 5, Iie, Pantnagar, Rudrapur, Distt. Us Nagar, Udham Singh Nagar, Uttarakhand Pan: Aaccd5896N (Appellant) (Respondent) With Assessment Year: 2013-14 Vs. Delta Power Solution (India) Acit, Haldwani Pvt. Ltd. (Now, Delta Electronics India Pvt. Ltd.) Plot No. 43, Sector-35, Hsiidc, Gurgaon Pan: Aaccd5896N (Appellant) (Respondent)

Section 143(3)

Deputy Commissioner of Income Tax-Circle-4(1)(1), Bangalore vs. Eygbs (India) Private Limited, Bangalore

In the result, the appeal by the AO is dismissed

ITA 1586/BANG/2024[2017-18]Status: DisposedITAT Bangalore19 Dec 2024AY 2017-18

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2017-18

For Appellant: Shri Chavali Narayan, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 10ASection 143(3)Section 92C(4)

Deputy Commissioner of Income Tax, Circle-4(1)(1), Bangalore vs. Eygbs (India) Private Limited, Bangalore

In the result, the appeals filed by the Revenue are dismissed

ITA 1368/BANG/2024[2016-17]Status: DisposedITAT Bangalore08 Nov 2024AY 2016-17

Bench: Waseem Ahmed & Shri Prakash Chand Yadav

For Appellant: Ms.Neera Malhotra, CIT-DRFor Respondent: Sri.Chavali Narayan & Sri.Keerthinarayan, ARs
Section 10ASection 143(3)Section 14ASection 92CSection 92C(4)

Deputy Commissioner of Income Tax, Circle-4(1)(1), Bangalore vs. Eygbs (India) Private Limited, Bangalore

In the result, the appeals filed by the Revenue are dismissed

ITA 1367/BANG/2024[2015-16]Status: DisposedITAT Bangalore08 Nov 2024AY 2015-16

Bench: Waseem Ahmed & Shri Prakash Chand Yadav

For Appellant: Ms.Neera Malhotra, CIT-DRFor Respondent: Sri.Chavali Narayan & Sri.Keerthinarayan, ARs
Section 10ASection 143(3)Section 14ASection 92CSection 92C(4)

M/S. Megasoft Ltd., Chennai vs. DCIT, Chennai

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

ITTPA 72/CHNY/2019[2013-14]Status: DisposedITAT Chennai22 Dec 2023AY 2013-14

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T(Tp).A. No.72/Chny/2019 िनधा"रण वष"/Assessment Year: 2013-14 M/S. Megasoft Limited, Vs. The Deputy Commissioner Of No. 85, Kutchery Road, Income Tax, Mylapore, Chennai 600 004. Corporate Circle 4(1), [Pan:Aabcm8933A] Ayakar Bhavan, Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri V. Nagaprasad, Advocate & Shri Muraleedhara Reddy, Ca ""थ" की ओर से/Respondent By : Ms. D. Babitha, Jcit सुनवाई की तारीख/ Date Of Hearing : 20.12.2023 घोषणा की तारीख /Date Of Pronouncement : 22.12.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) – 8, Chennai Dated 25.07.2019 Relevant To The Assessment Year 2013-14. 2. Brief Facts Of The Case Are That The Assessee Has Filed Its Return Of Income For The Assessment Year 2013-14 On 29.11.2013 Admitting Total Income Of ₹.89,24,000/-. After Considering The Submissions Against Statutory Notices, The Assessing Officer Has Completed The Assessment Under Section 143(3) R.W.S. 92C(4) Of The Income Tax Act, 1961 [“Act” In 2 I.T.(Tp)A. No. 72/Chny/19

For Appellant: Shri V. Nagaprasad, Advocate &For Respondent: Ms. D. Babitha, JCIT
Section 143(3)

M/S Sanofi India Ltd (Formerly Known As Aventis Pharma Ltd, Mumbai vs. The ACIT RG 8(1), Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 1606/MUM/2007[2003-2004]Status: DisposedITAT Mumbai31 Oct 2023AY 2003-2004

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 271(1)(c)

ACIT- 3(1)(1), Mumbai vs. Mm/S Sanofi India Limited (Formerly Known As Aventis Pharma Ltd)., Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 1302/MUM/2007[2003-2004]Status: DisposedITAT Mumbai31 Oct 2023AY 2003-2004

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 271(1)(c)