Tips Industries Ltd, Mumbai vs Acit 16(1), Mumbai on 3 May, 2019
आयकर अपीऱीय अधिकरण "E" न्यायपीठ मब
ुं ई में ... order to produce and market the audio cassettes under its
logo "TIPS'' Assessee Company have to purchase audio rights of
various films
Asian Paints Ltd.,
which is a third party.
B. Usage of TIPS Data Base for application of CUP as MAM
The ld. AR in support ... application of CUP method as MAM provided data
from TIPS Data Base in addition to ICIS, based on the action
Bombay High Court in the case of CIT v. Tip Top
Typography (2014) 48 taxmann.com 191 (Bom) and computed ALV for both
the flats ... recent decision of
Hon‟ble Bombay High Court in the case of Tip Top Typography (supra) relied
upon by the AO , while adjudicating the appeal
appellants are engaged in the manufacture of different grades of Tungsten Carbide Tips (TC Tips). The Adjudicating authority held that the discount given ... Advocate adduced the following points:
(1) The appellant sold the Tungsten Carbide Tips (Tips for short) to stockists, tool markers, consumers and the Government Undertakings
extrusion dies for metals and rock drilling bits;"
"62. Tool tips, in any form or size, unmounted, of sintered carbides of metals such ... appellants produced samples of Throw Away Inserts as well as Tool Tips manufactured by them, explained the process of manufacture of the two articles
Order decided the issue of manufacture in respect of special brazed carbide tipped tools and the issue involved in appeal was whether grinding of unground ... tool tips amounts to manufacture. Their submission is that the applicants manufactured special brazed carbide tipped tools and clearing the same on payment of duty
Tips Cassettes & Record Co. vs Assistant Commissioner Of Income Tax on 13 July, 2000
Equivalent citations: [2002]82ITD641(MUM)
ORDER
R.P. Tolani ... film songs. These are sold under trade name and logo "Tips". In this type of business activity, the producers of films are owners
month for the use of premises of Saurashtra Inox Tips (P) Ltd., Bhavnagar which is all inclusive. In other words the appellant claimed that this ... interest of the company. The AO has wrongly presumed that the Tip machinery is automatic and there is no need for an engineer.
8. However
consideration of CUP available in the form of market prices
published by TIPS database
10. erred in inappropriately rejecting CUP available in case of
import ... materials available on TIPS database (compiled
based on customs data), furnished by the Appellant for justifying
the arm's length nature of the transaction
against which the payments were made.
A. We were exporting tips for ball point pens.
Q. You have made the payment during April ... behind this.
A. My exports to Dubai was consisted mainly of brass tips of ball pen had a real value of Rs. 2 lakhs
