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Income tax Appellate Tribunal Latest

ITAT: Refuses to disturb assessee's 'headcount' basis cost-allocation key accepted by TPO

Apr 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-160-ITAT-2024(DEL)-TP
  • Tax Payer : Genpact Services LLC
Income tax Appellate Tribunal

ITAT: Remits ALP determination after considering volume discount, geography adjustments; Follows earlier order

Apr 26, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-161-ITAT-2024(Ahd)-TP
  • Tax Payer : Atul Limited
Income tax Appellate Tribunal

ITAT: Quashes final assessment orders passed beyond prescribed time limit u/s.144C(13)

Apr 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-159-ITAT-2024(CHNY)-TP
  • Tax Payer : Renault India P Ltd
Income tax Appellate Tribunal

ITAT: Non-consideration of jurisdictional HC decision not ‘mistake’; Dismisses MA for rectification of order

Apr 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2024(Mum)-TP
  • Tax Payer : Truetzschler India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustments towards sale of goods, technical & management fee payment

Apr 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-942-ITAT-2022(CHNY)-TP
  • Tax Payer : Reynolds Pens India P Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s plea seeking inclusion/exclusion of comparables

Apr 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-157-ITAT-2024(Mum)-TP
  • Tax Payer : Torrecid India Private Limited
Income tax Appellate Tribunal

ITAT: Holds AO bypassed mandatory provisions of Sec. 144C, subsequent proceedings and orders non-est

Apr 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-156-ITAT-2024(DEL)-TP
  • Tax Payer : Defsys Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Non-following previous trend of findings not 'mistake apparent' u/s. 254(2), dismisses Revenue's MA

Apr 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2024(DEL)-TP
  • Tax Payer : Whirlpool of India Ltd
High Court

HC: Allows assessee’s writ petition; Holds final assessment order barred by limitation

Apr 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-154-HC-2024(BOM)-TP
  • Tax Payer : Kent Engineering India Private Limited
Income tax Appellate Tribunal

ITAT: Every order not order u/s 119; Quashes revision against final order violating S.144C

Apr 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-152-ITAT-2024(DEL)-TP
  • Tax Payer : WSP Consultants India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rectifies Tribunal-order; Remits working capital adjustment plea to AO/TPO

Apr 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-153-ITAT-2024(Mum)-TP
  • Tax Payer : Deutsche Investor Services Private Limited
Income tax Appellate Tribunal

ITAT: Refuses 'blanket stay', but Revenue's interest being secured, grants Xiaomi 180 days' stay

Apr 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-150-ITAT-2024(Bang)-TP
  • Tax Payer : Xiaomi Technology India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s exclusion of functionally dissimilar comparables for timing-belt tensioner manufacturer

Apr 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-151-ITAT-2024(DEL)-TP
  • Tax Payer : Dayco Power Transmission Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment towards notional interest on export receivables for fresh examination

Apr 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-148-ITAT-2024(DEL)-TP
  • Tax Payer : Paramount Communication Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs AO/TPO to recompute interest on loan fund after considering comparable

Apr 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-149-ITAT-2024(Kol)-TP
  • Tax Payer : Titagarh Wagon Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s deletion of TP-adjustment qua performance guarantee for Shapoorji Pallonji

Apr 18, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-147-ITAT-2024(Mum)-TP
  • Tax Payer : Shapoorji Pallonji and Company Private Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua technical know-how fee, allows capacity utilization adjustment

Apr 17, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-145-ITAT-2024(Mum)-TP
  • Tax Payer : Thermax Babcock & Wilcox Energy Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Partly allows Revenue’s MA to adjudicate ALP of interest on loan borrowed

Apr 17, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-146-ITAT-2024(HYD)-TP
  • Tax Payer : Progress Software Development Private Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua drug-sale while accepting assessee's TNMM as MAM

Apr 16, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-144-ITAT-2024(Mum)-TP
  • Tax Payer : USV Private Limited
Income tax Appellate Tribunal

ITAT: Holds corporate guarantee as international transaction, Determines ALP @0.5%; Follows precedents

Apr 16, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-143-ITAT-2024(Kol)-TP
  • Tax Payer : Tega Industries Ltd