CIT vs Tara Jewels Exports P. Ltd

CASE NAME: CIT vs Tara Jewels Exports P. Ltd
CORAM: M. S. Sanklecha J, G. S. Kulkarni J
SECTION(S): , ,
SUBJECT/ CATCH WORDS: Transfer Pricing - Adjusment only in respects of Transactions with AE
COUNSEL (AR): B. V. Jhaveri
COUNSEL (DR) : Arvind Pinto
HIGH COURT APPEAL NO : 1814 of 2013
DATE OF ORDER: 05/10/2015
AY: 2006 - 2007
QUESTION(S) ADMITTED: “Whether in law and on the facts of the instant case, was the Tribunal justified in holding that while computing the ALP of international transactions the AO/TPO is precluded from taking into consideration transactions with Non Associate Enterprises, while arriving at the ALP using the Net Transactional Margin Method (TNMM); whereas Rule 10B(1)(e) mandates the consideration of profit margins with unrelated enterprises?
QUESTION(S) DISMISSED : NA
FILE: Click here to download the order in pdf
CITATION: (2016) 381 ITR 404 (Bom)(HC)
ARISING OUT OF ITA NO & DATE : ITA No.6972/Mum/2010
CITATION OF ITAT's ORDER: NA
SLP FILED OR NOT? : NA
ORDER ACCEPTED OR NOT? : Yes
FINAL DISPOSAL OFF/ DATE/ CORAM/ CITATION : NA

CIT vs M/s Schmetz India Pvt. Ltd

CASE NAME: CIT vs M/s Schmetz India Pvt. Ltd
CORAM: M. S. Sanklecha J, N. M. Jamdar
SECTION(S): , ,
SUBJECT/ CATCH WORDS: Free Trade Zone, Industrial Undertaking
COUNSEL (AR): F. V. Irani
COUNSEL (DR) : S. V. Bharucha
HIGH COURT APPEAL NO : 1382 OF 2013
DATE OF ORDER: 24/06/2015
AY: 2005 - 2006
QUESTION(S) ADMITTED: (a) Whether on the facts and circumstances of the case and in law the Tribunal was justified in coming to the conclusion that there was nothing on record to show that the profits arrived at by the assessee in respect of the 10A unit carrying on the business of manufacturing industrial sewing machine needles was not in the normal course of its business and that the abnormally high profit was due to extraordinary arrangement between the assessee and the German company entered into only with a view to boost the profits of the assessee and therefore allowing deduction of Rs.20,53,26,910/­? (b) Whether on the facts and the circumstances of the case and in law the Tribunal was justified in holding that there was no material available with the assessing officer to estimate the profits of the 10A unit eligible for deduction invoking the provisions of section 80IA(10) read with section 10A(7) of the Act was based on proper and reasonable appraisal of the material available on record?”
QUESTION(S) DISMISSED : NA
FILE: Click here to download the order in pdf
CITATION: Not Reported
ARISING OUT OF ITA NO & DATE : ITA No. 3604/Mum./2010 dt. 5/01/2010
CITATION OF ITAT's ORDER: NA
SLP FILED OR NOT? : SLP filed by the Revenue is Rejected No. 4064 of 2016 dt.8/2/2016
ORDER ACCEPTED OR NOT? : No
FINAL DISPOSAL OFF/ DATE/ CORAM/ CITATION : (2016) 382 ITR 3 (St)

CIT vs.M/s. N. S. N. Jewellers Pvt.Ltd

CASE NAME: CIT vs.M/s. N. S. N. Jewellers Pvt.Ltd
CORAM: S. C. Dharmadhikari J, A. K. Menon J
SECTION(S):
SUBJECT/ CATCH WORDS: Deemed Dividend
COUNSEL (AR): Pramod Kumar
COUNSEL (DR) : Suresh Kumar
HIGH COURT APPEAL NO : 2312 OF 2011
DATE OF ORDER: 21/08/2014
AY: 2006 - 2007
QUESTION(S) ADMITTED: The loan received by the assessee from a company to share holders of which had beneficial ownership in the assessee could not be treated as a deemed dividend
QUESTION(S) DISMISSED : NA
FILE: Click here to download the order in pdf
CITATION: Not Reported
ARISING OUT OF ITA NO & DATE : ITA No. 5021/Mum/2009 - dt 9/7/2009
CITATION OF ITAT's ORDER: Not Reported
SLP FILED OR NOT? : SLP filed by the Revenue is Admitted 18510 of 2015 dt. 14/3/2016
ORDER ACCEPTED OR NOT? : No
FINAL DISPOSAL OFF/ DATE/ CORAM/ CITATION : (2016) 382 ITR 33 (St)