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Documents citing M/S.Toyota Tsusho India Private ... vs Assistant Commissioner Of Income-Tax, ... on 31 January, 2018

Talent Anywhere Services Pvt. Ltd. ( ... vs The Dy.Cit, Circle-2(1)(2),, Baroda on 7 June, 2019

As regards the Toyota Tsusho India Pvt Ltd (supra) decision, nothing really turns on the same as there cannot indeed any appeal against the directions of the DRP and what can be challenged before the Tribunal is only the assessment order passed by the Assessing Officer as a result of DRP directions. Once the DRP gives the directions in respect of a particular assessment, it is functus officio and one can not go back to the DRP for grievance against the proper effect not being given to the DRP directions. As the law specifically provides, the order giving effect to these directions, as also orders under section 154 in respect of such order, can only be appealed in the Income Tax Appellate Tribunal. The assessee has duly availed this remedy. In view of these discussions, and bearing in mind entirety of the case, we see no merits in the plea of the assessee on this count and hold that the Assessing Officer was not required to issue a draft order for rectifying the mistake apparent on record under section 154.
Income Tax Appellate Tribunal - Ahmedabad Cites 22 - Cited by 2 - Full Document

Nxp Semiconductors India Private ... vs Deputy Commissioner Of Income Tax, ... on 3 January, 2020

5. We heard the rival contentions and perused the material on record. Prima facie, the sole matrix of the disputed issue is with respect to granting of depreciation on goodwill. The ld. AR's contention that the decision relied by lower authorities in respect of DCIT Vs. Toyo Engineering Ltd. (supra), was reversed by the Hon'ble Bombay High Court in Toyo Engineering India Ltd. Vs. DCIT in IT(AL) No.1330/2012 Dt.30.10.2012. We found that the CIT(Appeals) has dealt on the issue and aware of the Hon'ble Bombay High Court decision but declined to grant depreciation on goodwill as per para 8.2 of the CIT (Appeals) order which is read as under :
Income Tax Appellate Tribunal - Bangalore Cites 12 - Cited by 0 - Full Document

Dcit, vs Sasken Network Engg. Ltd.,, on 12 July, 2021

The other decision cited by the learned Counsel for the assessee in the case of Toyo Engg. India Ltd., Vs. DCIT (2006) 5 SOT 616 (Bombay) is contrary to the law laid down in 3rd Member decision in the case of Pradeep Kumar Dhir (supra). The decision of ITA No.547/Bang/2013 Page 9 of 9 the Hon'ble Andhra Pradesh High Court in the case of M/s. Bhooratnam and Co. 357 ITR 396 was a case where TDS certificates of an assessee were in the name of joint venture partners and credit was not given by the Department. The Hon'ble Andhra Pradesh High Court held that credit should be given to the contractor whether certificate is issued in the name of joint venture or in the name of contractor. Thus, all the decisions cited by learned Counsel for the assessee are found distinguishable and not applicable to the facts of the present case. For the reasons given above, we are of the view that the order of the CIT(A) cannot be sustained and the credit for TDS cannot be allowed to the assessee in facts and circumstances of the case. Accordingly, the appeal of the Revenue stands allowed.
Income Tax Appellate Tribunal - Bangalore Cites 22 - Cited by 0 - Full Document

Kirloskar Toyota Textile Machinery ... vs Dcit, Bangalore on 28 February, 2022

19. Copy of the order of the Tribunal in the case of L'Oreal India Pvt. Ltd., is also placed on record to demonstrate as to under what circumstances the RPM was considered to be most appropriate method. Similarly, in the case of Mettal Toys India Pvt. Ltd., v. DCIT (supra), the Tribunal again reaffirmed its IT(TP)A No.197/Bang/2015 Page 10 of 15 view that in the case of distributor, the RPM is the most appropriate method by holding that ultimate aim of the transfer pricing is to examine whether price of the margin arising from the international transactions with a related party is at ALP or not. The determination of the approximate ALP is a key factor for which most appropriate method is to be followed. Therefore, if at any stage of the proceedings, it is found that by adopting one of the prescribed method other than choosing earlier, the most appropriate ALP can be determined, the assessing authorities as well as the appellate authorities should take into consideration such a plea raised before them provided it is demonstrated as to how a change in the method will produce better or more appropriate ALP on the facts of the case. The Tribunal accordingly rejected the contention of the Revenue and directed the TPO to adopt RPM instead of TNMM for computing the ALP.
Income Tax Appellate Tribunal - Bangalore Cites 10 - Cited by 3 - Full Document

Akshay Kumar Rungta,Bangalore vs Income Tax Officer, Ward 2(1), ... on 7 May, 2025

9. The Hon'ble jurisdictional High Court of Karnataka in the case of Toyota Tausho India Pvt. Ltd., (supra), the Order issued under section 92CA of the Act was also not signed by the TPO, was held invalid in the eyes of law. The judgment relied on by the learned DR is also not applicable because in the office copy of the same Order was signed by the AO but only copy of the draft Order forwarded to the assessee was not signed but in the present case the learned DR failed to produce any signed copy of the draft Assessment Order from the record of the AO. Therefore, the judgment relied on by the learned DR is not applicable. Respectfully following the judgment of the Hon'ble Allahabad High Court and jurisdictional Hon'ble High Court of Karnataka, we hold that the draft Assessment Order issued by the AO is non-est and on the basis of the draft Assessment Order, the final Assessment Order passed by the AO and subsequent proceedings are also is invalid in the eyes of law.
Income Tax Appellate Tribunal - Bangalore Cites 58 - Cited by 0 - Full Document

Acer India Pvt Ltd, Bengaluru vs Deputy Commissioner Of Income Tax, ... on 5 March, 2020

19. Copy of the order of the Tribunal in the case of L'Oreal India Pvt. Ltd., is also placed on record to demonstrate as to under what circumstances the RPM was considered to be most appropriate method. Similarly, in the case of Mettal Toys India Pvt. Ltd., v. DCIT (supra), the Tribunal again reaffirmed its view that in the case of distributor, the RPM is the most appropriate method by holding that ultimate aim of the transfer pricing is to examine whether price of the margin arising from the international transactions with a related party is at ALP or not. The determination of the approximate ALP is a key factor for which most appropriate method is to be followed. Therefore, if at any stage of the proceedings, it is found that by adopting one of the prescribed method other than choosing earlier, the most appropriate ALP can be determined, the assessng authorities as well as the appellate authorities should take into consideration such a plea raised before them provided it is demonstrated as to how a change in the method will produce better or more appropriate ALP on the facts of the case. The Tribunal accordingly rejected the contention of the Revenue and directed the TPO to adopt RPM instead of TNMM for computing the ALP.
Income Tax Appellate Tribunal - Bangalore Cites 7 - Cited by 0 - Full Document

Elements 14 India Private Limited, ... vs Dcit, Bangalore on 16 September, 2020

19. Copy of the order of the Tribunal in the case of L'Oreal India Pvt. Ltd., is also placed on record to demonstrate as to under what circumstances the RPM was considered to be most appropriate method. Similarly, in the case of Mettal Toys India Pvt. Ltd., v. DCIT (supra), the Tribunal again reaffirmed its view that in the case of distributor, the RPM is the most appropriate method by holding that ultimate aim of the transfer pricing is to examine whether price of the margin arising from the international transactions with a related party is at ALP or not. The determination of the approximate ALP is a key factor for which most appropriate method is to be followed. Therefore, if at any stage of the proceedings, it is found that by adopting one of the prescribed method other than choosing earlier, the most appropriate ALP can be determined, the assessing authorities as well as the appellate authorities should take into consideration such a plea raised before them provided it is demonstrated as to how a change in the method will produce better or more appropriate ALP on the facts of the case. The Tribunal accordingly rejected the contention of the Revenue and directed the TPO to adopt RPM instead of TNMM for computing the ALP.
Income Tax Appellate Tribunal - Bangalore Cites 6 - Cited by 1 - Full Document

Uber India Research And Development ... vs Dcit, Circle -8(1), Hyderabad on 31 October, 2023

2. At the outset, learned AR submitted that though this appeal is preferred on several grounds, the preliminary issue that falls for consideration is in respect of the legality/validity of the final assessment order that was passed on 14/02/2022 subsequent to the order dated 28/01/2022 of the learned DRP giving the direction to accept Sundaram Business Services Ltd., as a comparable company and to consider margins of other alleged comparable companies from the annual reports. He expressed the grievance of the assessee that in spite of such directions, as are acknowledged by the learned TPO in the order dated 23/02/2022 purportedly giving effect to the directions of learned DRP under section 144C of the Act, learned Assessing Officer in his order dated 14/02/2022 recorded that the learned DRP confirmed the action of the learned TPO and rejected the objection filed by the assessee, which is factually incorrect. He submitted that the final assessment order in disregard to the directions of the learned DRP is without jurisdiction and nonest in the eye of the law. He placed reliance on various decisions including the decision of the Hon'ble Delhi High Court in the case of M/s. ESPN Star Sports Mauritus S.N.C ET Compagnie (Now known as ESS Advertising (Mauritius) S.N.C. ET Compagnie) vs. Union of India and batch in W.P.(C) 2384/2015 & CM No. 4277/2015 and W.P.(C) No. 2397/2015 & CM No. 4298/2015, dated 23/03/2016 followed by the Co-ordinate Bench of the Bangalore Tribunal in the case of Toyota Tsusho India P. Ltd., vs. DCIT, in IT(TP)A No. 175/Bang/2022, dated 09/09/2022.
Income Tax Appellate Tribunal - Hyderabad Cites 8 - Cited by 0 - Full Document

Gameloft Software Private Limited, ... vs Income Tax Officer, Ward-2(2), ... on 27 February, 2024

He further submitted that Hon'ble Delhi High Court in the case of M/s. ESPN Star Sports Mauritus S.N.C ET Compagnie (Now known as ESS Advertising (Mauritius) S.N.C. ET Compagnie) vs. Union of India and batch in W.P.(C) 2384/2015 & CM No. 4277/2015 and W.P.(C) No. 2397/2015 & CM No. 4298/2015, dated 23/03/2016 followed by the Co-ordinate Bench of the Bangalore Tribunal in the case of Toyota Tsusho India P. Ltd., vs. DCIT, in IT(TP)A No. 175/Bang/2022, dated 09/09/2022.
Income Tax Appellate Tribunal - Hyderabad Cites 4 - Cited by 0 - Full Document

Gameloft Software Private Limited, ... vs Income Tax Officer, Ward-2(2), ... on 27 February, 2024

He further submitted that Hon'ble Delhi High Court in the case of M/s. ESPN Star Sports Mauritus S.N.C ET Compagnie (Now known as ESS Advertising (Mauritius) S.N.C. ET Compagnie) vs. Union of India and batch in W.P.(C) 2384/2015 & CM No. 4277/2015 and W.P.(C) No. 2397/2015 & CM No. 4298/2015, dated 23/03/2016 followed by the Co-ordinate Bench of the Bangalore Tribunal in the case of Toyota Tsusho India P. Ltd., vs. DCIT, in IT(TP)A No. 175/Bang/2022, dated 09/09/2022.
Income Tax Appellate Tribunal - Hyderabad Cites 4 - Cited by 0 - Full Document
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