Rulings ( 11516 results )

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Income tax Appellate Tribunal

ITAT: Remits MAM-selection for benchmarking royalty; Follows earlier-order

Aug 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-478-ITAT-2023(Mum)-TP
  • Tax Payer : SAS Institute (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes protective basis AMP-adjustment for Nikon India, follows earlier order

Aug 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-479-ITAT-2023(DEL)-TP
  • Tax Payer : Nikon India (Pvt) Ltd
High Court

HC: Sets aside final assessment order passed pending DRP’s directions

Aug 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-474-HC-2023(KAR)-TP
  • Tax Payer : Zyme Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TNMM as MAM for export citing rule of consistency; Follows precedents

Aug 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-476-ITAT-2023(Mum)-TP
  • Tax Payer : Lubrizol India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua corporate guarantee/SBLC sans international transaction or AE-existence

Aug 02, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-475-ITAT-2023(DEL)-TP
  • Tax Payer : Phoenix Lamps Ltd
Income tax Appellate Tribunal

ITAT: Deferred shares akin to ordinary shares; Confirms TP-adjustment basis valuation of ordinary shares

Aug 01, 2023
  • In Favour of Revenue
  • Citation Number : TS-473-ITAT-2023(DEL)-TP
  • Tax Payer : Fabindia Overseas Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds Revenue’s segregation of distribution segment from trading activity; Grants working-capital adjustment

Aug 01, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-470-ITAT-2023(Bang)-TP
  • Tax Payer : Puma Sports India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Fixes corporate guarantee fee @ 0.5%, remits comparables' selection qua software services

Aug 01, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-471-ITAT-2023(Ahd)-TP
  • Tax Payer : Mastek Ltd
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for benchmarking distribution activity, applies rule of consistency

Aug 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-472-ITAT-2023(HYD)-TP
  • Tax Payer : Commvault Systems (India) Private Limited
Income tax Appellate Tribunal

ITAT: TPO’s order time barred, final assessment non-est in eyes of law; Follows precedent

Jul 31, 2023
  • In Favour of Assessee
  • Citation Number : TS-467-ITAT-2023(Mum)-TP
  • Tax Payer : Tata AIG General Insurance Company Ltd
Income tax Appellate Tribunal

ITAT: Mandates issue of notice u/s. 92C(3) or u/s.92CA(2) before making TP adjustment

Jul 31, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-468-ITAT-2023(HYD)-TP
  • Tax Payer : Quislex Legal Services P Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua IGS, directs assssee to demonstrate benefit, rendition tests

Jul 31, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-469-ITAT-2023(Mum)-TP
  • Tax Payer : EOS Power India Private Limited
High Court

HC: Dismisses Revenue’s appeal on risk adjustment absent substantial question of law; Follows precedents

Jul 31, 2023
  • In Favour of Assessee
  • Citation Number : TS-466-HC-2023(BOM)-TP
  • Tax Payer : Mahle Behr India Limited
High Court

HC: Sec.144C procedure required to be followed post remand even if assessment set aside partially

Jul 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-465-HC-2023(KAR)-TP
  • Tax Payer : Kennametal India Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-addition recharacterizing preference shares as interest-free loan, follows earlier orders

Jul 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-463-ITAT-2023(Mum)-TP
  • Tax Payer : Aegis Limited
Income tax Appellate Tribunal

ITAT: Purchase of shares from overseas AE is not an international transaction

Jul 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-464-ITAT-2023(Mum)-TP
  • Tax Payer : WNS Global Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination, refuses to follow earlier order adopting corporate guarantee fee @ 0.5%

Jul 28, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-461-ITAT-2023(Mum)-TP
  • Tax Payer : Graves Cotton Ltd
High Court

HC: Upholds exclusion of loss from Solar Test activity from PLI computation

Jul 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-462-HC-2023(BOM)-TP
  • Tax Payer : Schott Glass India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables, upholds forex gain, advance received and expenses reimbursed as operating

Jul 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-459-ITAT-2023(Mum)-TP
  • Tax Payer : Sabre Travel Network (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 9 comparables under SWD services segment; Remits margin computation plea

Jul 27, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-460-ITAT-2023(Bang)-TP
  • Tax Payer : NTT Data Information Processing Services Pvt Ltd