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Flash

CBDT issues Guidelines on scope of Sections 194-O, 194Q & 206C

India & US agree on transitional approach on 2% EL; Terms to be finalised in Feb’22

Path-breaking agreement reached on digital economy taxation by 136 countries, with two-pillar solution as base

CBDT notifies Rules to effectuate Taxation Laws (Amendment) Act, 2021

SC: Considering “near normal” situation, reverts to earlier order on limitation w.e.f. October 3

CBDT extends applicability of Safe Harbour rules to AY 2021-22

CBDT extends due-dates for ITR, Audit Report

ITAT: Holds Black Money proceedings against Yashovardhan Birla jurisdictionally defective

CBDT prescribes procedure for assessment/penalty cases transferred out of faceless regime

Vice-President G.S. Pannu appointed Officiating President, ITAT

First on Taxsutra

ITAT Special Bench: Hears both parties on interpretation of "paid" under India-Cyprus…

First on Taxsutra

HC: Directs CBDT to appoint officer for giving effect to post-APA returns; Faceless-assessments…

First on Taxsutra

SC: Directs categorization of issues in Softbrands case, lists hearing for August 2021

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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
ALP Determination
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
Australia TP Guidelines
Benchmarking
- Availability of Data
- Captive service provider
- Companies held to be functionally similar
- Concept of 'tested party'
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- 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
benchmarking - Controlled transaction as comparable
COVID-19
Definitions
- Associated Enterprise
- International Transaction
Delayed pronouncement of order due to Covid-19 lockdown
Domestic TP (Pre 2012 period)
E-assessment
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
International Transactions - Inter-company balance receivables
Limitation period
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
Settlement Commission
shareholder services
Specified domestic transaction (SDT)
Substantial question of law on comparables
TNMM
TP adjustment & MAT provisions
TP Adjustment - credit period
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

Number

Applevel

Year

Rulings

Income tax Appellate Tribunal Most Viewed Latest

ITAT: Remits Star-India's case for ALP-determination qua "bundle of sports rights" acquired;…

Dec 06, 2021

High Court Most Viewed

HC: Following Allahabad HC, quashes reassessment notices; Allows Revenue to initiate reassessment under new…

Dec 03, 2021

High Court

HC: Sets-aside assessment order over non-intimation of DRP-reference; Directs completion of assessment basis…

Nov 25, 2021

Income tax Appellate Tribunal

ITAT: Assessment order passed without adhering to DRP directions non-est, not revisable u/s 263

Nov 19, 2021

Trending Topics :

Software Royalty Taxation
ESOP
Union Budget 2021
Angel Tax
Expat Reimbursement

News

Around the World Latest

EU adopts public Country-By-Country Reporting; Effective from Dec 21, 2021

Dec 03, 2021

News

Taxsutra TP Compilation : Top 10 rulings reported in November 2021

Dec 01, 2021

CBDT Corner Most Viewed

CBDT issues Guidelines on scope of Sections 194-O, 194Q & 206C

Nov 25, 2021

Around the World International

OECD releases MAP Statistics for 2020; India resolves 48% of TP MAP cases via domestic remedy

Nov 24, 2021

Experts' Corner

Expert Columns

Vijay Iyer

National Leader , Transfer Pricing , EY India

Transfer Pricing of Intangibles – A Perspective (Part II)

Nov 23, 2021

Eye Share

Chetan Shah

Director, Ernst & Young LLP

Proportionate Adjustment - Concept and Computation Mechanism

Nov 03, 2021

Tax Ring

Mumbai ITAT's judgment in Gemological Institute of America Inc case - ...
May 12, 2021
CBDT's Revision of Master File and CbCR Regime - Does it Pave Way for ...
Apr 07, 2021

Updates

Income tax Appellate Tribunal Latest

ITAT: Allows exclusion of L&T Infotech, Persistent Systems and Tech Mahindra for SWD service-provider

Dec 07, 2021

Income tax Appellate Tribunal

ITAT: Remits determination of MAM qua import of finished/ semi-finished goods; Refrains from adjudicating on…

Dec 07, 2021

Income tax Appellate Tribunal

ITAT: Deletes TP adjustment made basis AEs as comparables; Follows Tecnimont

Dec 07, 2021

Income tax Appellate Tribunal

ITAT: Directs segregation of ALP-determination for Contract Software Development and ITeS segments; follows…

Dec 06, 2021

Litigation Tracker

Revenue submits, TOLA needs to be given purposive interpretation; Contends Allahabad HC ruling as per…

Oct 12, 2021

HC: Admits Revenue’s appeal; Frames 4 substantial questions of law on outstanding-AE receivables, corporate-…

Sep 24, 2021

ITAT Special Bench: Hears both parties on interpretation of "paid" under India-Cyprus DTAA, Directs…

Sep 08, 2021

SC lists Canon India SLP on Marketing-Intangibles issue for final hearing on Sept 28/29; Considers Maruti…

Aug 24, 2021

Kaleidoscope

Reflections on Indian TP controversies – "Cost Plus Method"

Nov 30, 2021

Reflections on Indian TP controversies – "Resale Price Method"

Nov 22, 2021

BEPS

US, UK, Austria, France, Italy & Spain strike transitional Compromise over Unilateral Measures with tax…
Oct 22, 2021
OECD releases fourth peer-review report of BEPS AP 13, Acknowledges India's EOI-processes consistent…
Oct 18, 2021

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

Key Developments in OECD/G20 BEPS Inclusive Framework Statement

Oct 11, 2021

Taxsutra TP Insight: OECD's three-tiered TP documentation -…

Jun 14, 2021

First on Taxsutra

ITAT Special Bench: Hears both parties on interpretation of "paid" under India-Cyprus…

First on Taxsutra

HC: Directs CBDT to appoint officer for giving effect to post-APA returns; Faceless-assessments…

First on Taxsutra

SC: Directs categorization of issues in Softbrands case, lists hearing for August 2021

Experts' Corner

Expert Columns

Vijay Iyer

National Leader , Transfer Pricing , EY India

Transfer Pricing of Intangibles – A Perspective (Part II)

Nov 23, 2021

Eye Share

Chetan Shah

Director, Ernst & Young LLP

Proportionate Adjustment - Concept and Computation Mechanism

Nov 03, 2021

Global TP Battleground

The Amazon TP dispute - Decoding the EU Court ruling

Dec 07, 2021

Intra-group loan or Intra-group service? - Analysis by the Finland Supreme…

Jul 20, 2021

Tax Ring

Mumbai ITAT's judgment in Gemological Institute of America Inc case - ...
May 12, 2021
CBDT's Revision of Master File and CbCR Regime - Does it Pave Way for ...
Apr 07, 2021

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Home
Direct Tax
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  - Taxsutra TV
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Transfer Pricing
- All
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  - Rulings
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  - Gstsutra TV
  - Podcast
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Indirect Tax
LawStreetIndia
Library
Databases
- Atoll
- Taxsutra Database
Reservoir
Greentick