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Flash

HC:Share-transfer to subsidiary for corporate restructuring, absent voluntariness, not gift; Upholds capital gains tax

SC:State's 'Administrative lethargy' in notifying Electricity duty rebate violates 'doctrine of promissory estoppel'

HC:Transaction non-reference while seeking TPO-reference approval not fatal when CASS-selection reason specified

ITAT:Inter-unit transactions between eligible units u/s. 10AA outside scope of ‘SDT’, not subject to ALP-adjustment

HC:Raps Tribunal for repeatedly remanding TP-issues resulting in ‘shuttle game’ between assessee-Revenue

HC: Lays down law on interpretation of 60-day time limit for passing TPOs-order u/s 92CA(3A) r.w.s. 153

ITAT:Recommends Special-Bench constitution for interpreting term ‘paid’ under India-Cyprus DTAA Article 11

ITAT:Revenue’s appeal against DRP-directions maintainable despite Sec 253A ‘omission’; Distinguishes Texport Overseas ruling

FC: EU General Court annuls European Commission ruling in Apple state aid case

CBDT inks unilateral-APA under new remote signing mechanism introduced due to COVID-19

First on Taxsutra

HC: Allows writ challenging DRP-notice pursuant to ITAT-remand sans draft-order issuance, as…

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Adjustments
- Accounting Policies
- Capacity
- Credit period
- Depreciation
- Others
- Risk
- Working Capital
ALP computation
- Arithmetic Mean - Arms Length range
- Benefit of +/- 5%
- Berry Ratio
- Entity level v. transaction level
- Margin computation dispute
- Operating/Non operating Income and Expenses
  - Foreign exchange gain / loss
- Pass through costs
- Profit level indicator (eg sales or costs)
  - Cash PLI
- Segmental results
- Single Year vs Multiple Year
- Suomoto adjustment by assessee
Appellate Authority - Powers, Jurisdiction etc.
- Admission of additional evidence
- Admission of additional ground
- DRP / CIT(A) order binding on AO
- Miscellaneous Application / Miscellaneous Petition
- Non-speaking DRP/ CIT(A) orders
- Power to remand matter back to AO/TPO
- Scope and powers
Appellate Authority - Powers, Jurisdiction etc.
Applicability of TP-provisions to income covered under the Tonnage Tax Scheme
Arms length principle under tax holiday provisions
Benchmarking
- Availability of Data
- Captive service provider
- Companies held to be functionally similar
- Concept of 'tested party'
- Controlled transaction as comparable
- Domestic and International transactions
- Filters
  - Bad debts filter
  - Employee cost
  - Financial year
  - Foreign exchange earnings
  - Onsite vs. Offshore Revenue Filter
  - Other filters
  - R&D filter
  - Related party transaction
  - Related Party Transactions
  - Turnover
- Foreign comparables
- Functional similarity / dissimilarity
  - Exclusion of comparable due to unreliable financial results
  - Fluctuations in profit margins & comparability
  - Govt. owned undertakings
  - High end services vis--vis Low end services
  - High end services vis-à-vis Low end services
  - Impact on comparability of events like merger, acquisition, spin off
  - KPO vs BPO
  - Loss Making comparables
  - Outsourcing of work
  - Ownership of Intangible & comparability
  - Relevance of product similarity for comparability
  - Secret comparables
  - Software product companies vs. Software service companies
  - Super normal profit comparables
- Industry Rates
- Internal vs. External comparables
- Location Saving / Locational Advantage
- Relevance of FAR
- Reliance on Government Guidelines (RBI, FIPB, Commerce Ministry Press Notes, etc)
- Rulings having discussion on comparability of specific companies
- Separate and combined transactions
- Updation of comparables
- Use of Customs Data
COVID-19
Definitions
- Associated Enterprise
- International Transaction
Delayed pronouncement of order due to Covid-19 lockdown
Domestic TP (Pre 2012 period)
Functional Classification
- Contract Manufacturing
- Contract R&D
- Distributor
- Retail traders
- Sogo shosha (acting as trading intermediaries)
International transactions
- Commission
- Cost Allocations
- Cost Sharing Arrangements
- Deemed International transactions
- Employee Stock Option Plans
- Guarantee
- Intangibles - Trademarks, Copyrights, etc.
- Inter-company balance receivables
- Interest
  - FCCD Interest
- Issue of shares
- Loan
- Management Charges
- Marketing intangible/ AMP adjustment
  - AMP-Intensity Adjustment
- Other intra-group services
- Profits attributable to PE
- Provision of Freight forwarding/ Logistics services
- Provision of Information Technology Enabled Services (ITeS)
- Provision of Investment advisory services
- Provision of marketing support services
- Provision of software development service
- Provision of software development service R&D filter
- Purchase of fixed asset
- Reimbursements
- Royalty
- Sale of Shares
- Transfer of business to AE
- Treatment of CCD/FCCD/OFCD
- Treatment of share application money as loan
Methods
- Comparable Uncontrolled Price Method (CUP)
- Cost Plus Method
- Cost Plus Method more appropriate than TNMM
- CUP more appropriate than TNMM
- Profit Split Method
- Resale Price Method
- Ruling relevant for other method (6th method)
- TNMM more appropriate than CUP
- Transaction Net Margin Method
- Transactional Net Margin Method
Other
Penalty
- Concealment Penalty
- Penalty for non-filing / delay in filing particulars, audit report
Powers / Jurisdiction of Appellate Authority
- Condonation of delay
Reference to Safe Harbour Rules
shareholder services
Specified domestic transaction (SDT)
Substantial question of law on comparables
TP adjustment & MAT provisions
Transfer pricing
Transfer Pricing applicability
- Base erosion plea u/s 92(3)
- Pre-2002 provisions
- Pre-condition for invoking Chapter X & Intent
- Reference to TPO
- TP applicability & existence of income/ taxable income
Transfer Pricing assessments
- Aggregation of Transactions
- assessment post merger/amalgamation
- Consideration of APA/MAP
- Final assessment without draft order
- Granting opportunity of being heard
- Miscellenous petition / application
- Powers / Jurisdiction of Assessing Authorities
  - Adjustments by TPO on issues not referred by AO
  - Questioning commercial expediency / Proving Benefit test
  - TPOs order binding on AO
- Reassessment u/s 147 in reference to transfer pricing provisions
- Relevance of International Material (OECD Guidelines, International case laws)
  - Reference to BEPS Action Plans
- Remand for fresh consideration
- Resolution under MAP/APA
- Retraction of comparables
- Revision u/s 263 w.r.t transfer pricing
- Right of assessee to seek correction of own mistakes
- Right to contest comparable when not contested before earlier forum
- Rule of Consistency
- Secondary adjustment
- Stay of demand
- Threshold limit of Rs 5 crores
- Time limit for completing the assessment
- TP and Search Proceedings

Rulings

High Court Most Viewed Latest

HC: Final order passed sans draft order substantive error, not technical lapse; Allows assessee’s writ

Jan 20, 2021

Income tax Appellate Tribunal Most Viewed

ITAT: Overruling wrong application of method doesn’t rule out its selection; Dismisses assessee’s-MA

Jan 20, 2021

High Court Most Viewed

HC: Sub-sections (1) & (2) of Sec. 92A interlinked; Jockey-USA & Indian licensee not AEs absent Sec…

Jan 19, 2021

Foreign Court

FC: Panama Tax Court upholds RPM as MAM for petroleum purchase; Stresses on need for consistency in TP-…

Jan 19, 2021

Trending Topics :

Expat Reimbursement
CBCR
Secondary adjustment
Interest limitation
Safe Harbour Rules

News

News Latest

OECD releases TP-documentation Toolkit by PCT to support effective implementation by countries

Jan 20, 2021

Around the World

Singapore Authority for Advance Ruling holds resident-entity not ‘related-party’ to foreign-shareholders of…

Jan 07, 2021

News

Taxsutra TP Compilation : Top Rulings of 2020

Jan 01, 2021

CBDT Corner

Copy of CBDT notification extending return-filing, tax audit, TP certification, VsV timelines

Jan 01, 2021

Experts' Corner

Expert Columns

Ganesh Krishnamurthy

Chartered Accountant

Intra-Group Service charges Looking through the COVID-19 lens

Jan 07, 2021

Expert Columns

Navneet Singal

Head of Taxation, Syngene International Ltd.

“Corporate Guarantee – A Contentious Tax Matter – Whether Direct or Indirect !!"

Jan 04, 2021

Tax Ring

OECD’s Unified-Approach for taxing digital economy – Can ALP and formu...
Jan 07, 2020

Updates

Income tax Appellate Tribunal Latest

ITAT: Rules on comparables; Holds Accentia Technologies as comparable to BPO service provider

Jan 18, 2021

Income tax Appellate Tribunal

ITAT: Directs examination of tested-party margins considering assessee’s objections, remits issue

Jan 18, 2021

High Court

HC: Dismisses Revenue’s appeal against ITAT’s remand of loan syndication fee attribution issue

Jan 15, 2021

Income tax Appellate Tribunal

ITAT: Rules on treatment of forex gains and comparables for Software-developer

Jan 14, 2021

Litigation Tracker

HC: Admits Smart Cube's appeal against ITAT-order on recharacterization, comparables-selection

Dec 23, 2020

HC: Lays down law on interpretation of 60-day time limit for passing TPOs-order u/s 92CA(3A) r.w.s. 153

Sep 07, 2020

Expressing concern over Softbrands blanket application, SC directs Revenue to delve into individual case…

Mar 06, 2020

Revenue concludes arguments in SAP Labs, reiterates TP-principles cannot be hoodwinked in comparables-…

Mar 04, 2020

Kaleidoscope

Taxsutra’s TP Kaleidoscope - Reflections on Indian TP controversies - Intra-…

Dec 30, 2020

Taxsutra’s TP Kaleidoscope - Reflections on Indian TP controversies - "Guarantee…

Nov 06, 2020

BEPS

OECD releases comments/proposals received on 2020 Review of BEPS Action 14
Jan 14, 2021
Inclusive Framework's Action 5 peer review report highlights 90% increase in India's APA/PE rulings…
Dec 16, 2020

Taxsutra TV

Rishabh Kumar Sawansukha, Vice President – Taxation, Snapdeal

Nov 19, 2015

Krishen Mehta - Advisory Board, The Aspen Institute Business and Society Program(New york)

Nov 19, 2015

Book Reviews

Tangible Guide to Intangibles

Transfer Pricing Demystified

Taxsutra Insights

Taxsutra Special: 20+ Open-ended Issues in Faceless Assessment Scheme

Dec 07, 2020

Taxsutra Special TP Insight - Traversing through Legal…

Dec 02, 2020

First on Taxsutra

HC: Allows writ challenging DRP-notice pursuant to ITAT-remand sans draft-order issuance, as…

Experts' Corner

Expert Columns

Ganesh Krishnamurthy

Chartered Accountant

Intra-Group Service charges Looking through the COVID-19 lens

Jan 07, 2021

Expert Columns

Navneet Singal

Head of Taxation, Syngene International Ltd.

“Corporate Guarantee – A Contentious Tax Matter – Whether Direct or Indirect !!"

Jan 04, 2021

Global TP Battleground

UK Tribunal ruling on ‘arm’s length’ terms & ‘main purpose’ of Blackrock’s…

Dec 28, 2020

Australian Federal Court in Glencore's case lays down approach on '…

Dec 18, 2020

Tax Ring

OECD’s Unified-Approach for taxing digital economy – Can ALP and formu...
Jan 07, 2020

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Reservoir
Greentick