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Income tax Appellate Tribunal Latest

ITAT: Rules on comparables selection; Holds ‘provision for bad debt’ as non-operating in nature

May 21, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-262-ITAT-2025(HYD)-TP
  • Tax Payer : Vertex Offshore Services Private Limited
Income tax Appellate Tribunal

ITAT: Quashes Sec. 263 proceedings, matter purely on facts and verifiable from assessee’s records

May 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-265-ITAT-2025(Mum)-TP
  • Tax Payer : Juniper Networks India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on KPO services recharacterization, consultancy charges as operating cost, amortization of goodwill

May 20, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-264-ITAT-2025(HYD)-TP
  • Tax Payer : DELICATESSEN ENGINEERING SERVICES PRIVATE LIMITED
Income tax Appellate Tribunal

ITAT: Deletes adjustment qua interest on CCDs, affirms assessee’s SBI-PLR over LIBOR

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-261-ITAT-2025(HYD)-TP
  • Tax Payer : Natems Solar Power Private Limited
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s.271AA citing reasonable cause for not reporting reimbursement transaction

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-260-ITAT-2025(PUN)-TP
  • Tax Payer : Sequence Design (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Assessee can't compute advance-tax liability by foreseeing retro-amendment w.r.t deferred receivables

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-263-ITAT-2025(Mum)-TP
  • Tax Payer : Exquisite Jewellery
Income tax Appellate Tribunal

ITAT: Upholds deletion Sec.271AA penalty as requisite documents provided by assessee

May 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-259-ITAT-2025(HYD)-TP
  • Tax Payer : Jodas Expoim (P) Ltd
Income tax Appellate Tribunal

ITAT: Holds TP provisions inapplicable to income covered under tonnage tax scheme; Follows precedent

May 19, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-256-ITAT-2025(Mum)-TP
  • Tax Payer : Essar Shipping Limited
Income tax Appellate Tribunal

ITAT: Upholds assessee’s internal CUP for provision of services; Remits ALP for shares sold

May 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-258-ITAT-2025(Mum)-TP
  • Tax Payer : Larsen & Toubro Limited
Income tax Appellate Tribunal

ITAT: Restricts TP adjustment only to international transactions; Adopts LIBOR+200 bps as interest on delayed receivables

May 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-257-ITAT-2025(Bang)-TP
  • Tax Payer : MN Dastur and Company Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables under SWD, ITeS segments citing functional dissimilarity, lower employee-cost etc

May 16, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-254-ITAT-2025(DEL)-TP
  • Tax Payer : FIS Global Business Solutions India P. Ltd
Income tax Appellate Tribunal

ITAT: Permits Motorola Solutions India to withdraw TP grounds in light of MAP resolution

May 16, 2025
  • In Favour of None/NA
  • Citation Number : TS-255-ITAT-2025(DEL)-TP
  • Tax Payer : Motorola Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds AO’s reference for ALP determination of SDT invalid; Cites omission of Sec.92BA(i)

May 16, 2025
  • In Favour of Assessee
  • Citation Number : TS-253-ITAT-2025(CHNY)-TP
  • Tax Payer : Orient Green Power Company Limited
Income tax Appellate Tribunal

ITAT: Analysis carried out by TPO and assessee while comparables-selection found defective; Remits matter

May 15, 2025
  • In Favour of None/NA
  • Citation Number : TS-251-ITAT-2025(PUN)-TP
  • Tax Payer : Jade Global Software Private Limited
Income tax Appellate Tribunal

ITAT: Allows assessee’s MP, rectifies inadvertent errors in Tribunal's order

May 15, 2025
  • In Favour of Assessee
  • Citation Number : TS-250-ITAT-2025(DEL)-TP
  • Tax Payer : Mitutoyo South Asia P Ltd
Income tax Appellate Tribunal

ITAT: Dismisses assessee's appeal w.r.t AMP adjustment etc as being settled by APA agreement

May 15, 2025
  • In Favour of None/NA
  • Citation Number : TS-249-ITAT-2025(DEL)-TP
  • Tax Payer : Yakohama India Private Limited
Income tax Appellate Tribunal

ITAT: Finds mismatch in Net Operating Profit working provided by assessee; Remits issue

May 15, 2025
  • In Favour of Revenue
  • Citation Number : TS-248-ITAT-2025(HYD)-TP
  • Tax Payer : Biogenex Life Sciences Private Ltd
High Court

HC: Confirms ITAT’s remand of ALP qua intra-group services in case of American Express Banking

May 15, 2025
  • In Favour of None/NA
  • Citation Number : TS-252-HC-2025(DEL)-TP
  • Tax Payer : American Express Banking Corp, (India Branch)
Income tax Appellate Tribunal

ITAT: Remits comparables-selection; Directs TPO to apply filters in accordance of principles of FAR test

May 14, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-245-ITAT-2025(DEL)-TP
  • Tax Payer : Opus International (M)
Income tax Appellate Tribunal

ITAT: Non-furnishing of documents in manner sought by AO, not a ground to levy Sec.271G-penalty

May 14, 2025
  • In Favour of Assessee
  • Citation Number : TS-243-ITAT-2025(DEL)-TP
  • Tax Payer : S. N. Exports