Nipro India Corporation Pvt. Ltd. vs. DCIT, Satara Circle, Satara

Parties Involved

Facts Summary

Nipro India Corporation Pvt. Ltd. filed a return of income for the assessment year 2021-22 declaring a total loss of Rs. 4,33,01,391. The case was selected for scrutiny, and the Assessing Officer (AO) issued a notice under section 143(2) of the Income Tax Act. The AO referred the case to the Transfer Pricing Officer (TPO) due to international transactions with Associated Enterprises (AEs). The TPO issued a notice under section 92CA of the Act and proposed an adjustment of Rs. 33,85,84,469. The Dispute Resolution Panel (DRP) upheld the TPO's adjustment, leading to the final assessment order on 23.10.2024. The assessee filed an appeal against this order.…

Legal Issues

• 1. Transfer Pricing adjustment to the Manufacturing business transactions
• 2. Corporate Taxation - Set-off of brought forward loss not given

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Vodafone India Services Private Limited vs DCIT Circle-8(3)(1) Mumbai

• McKinsey Global Capabilities & Service P. Ltd. vs. Additional/Joint/Deputy/Assistant Commissioner of Income Tax

• M/s TDK India Pvt. Ltd. (formerly known as EPCOS India Pvt. Ltd.) Vs. DCIT, Circle-11(1), Kolkata

  Kolkata Bench benchAY 2016-17, 2017-18Partly Allowed

• Spectro Analytical Labs Private Limited Vs. AU, Income Tax Department

  Delhi Bench benchAY 2021-22Partly Allowed

• Tupperware India Private Limited vs ACIT, Circle 25(2), New Delhi

• Idemitsu Lube India Private Limited vs. DCIT

  Delhi Bench ‘H’ benchAY 2020-21Allowed