Rulings ( 11908 results )

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Income tax Appellate Tribunal

ITAT: “Specific services” under Act, DTAA mean different; Upholds correspondent banking charges adjustment

  • In Favour of Revenue
  • Citation Number : TS-729-ITAT-2023(Mum)-TP
  • Tax Payer : The Bank of Nova Scotia
Income tax Appellate Tribunal

ITAT: Upholds royalty as operating cost, benchmarking under TNMM; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-726-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motors Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs Revenue to consider APA applicability, rules on comparables for Google India

  • In Favour of Both, Partially
  • Citation Number : TS-727-ITAT-2023(Bang)-TP
  • Tax Payer : Google India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment w.r.t warranty services, rules on comparables in SWD segment

  • In Favour of Both, Partially
  • Citation Number : TS-725-ITAT-2023(Mum)-TP
  • Tax Payer : Varian Medical Systems International India Private Limited
High Court

HC: Dismisses Revenue's plea against ITAT's exclusion of 5 functionally dissimilar comparables

  • In Favour of Assessee
  • Citation Number : TS-724-HC-2023(DEL)-TP
  • Tax Payer : ST Microelectronics Pvt Ltd
High Court

HC: DRP to consider objections against draft order, although inadvertently not filed with AO

  • In Favour of Assessee
  • Citation Number : TS-723-HC-2023(KAR)-TP
  • Tax Payer : Google India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 6 functionally dissimilar comparables; Remits working capital adjustment; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-721-ITAT-2023(Bang)-TP
  • Tax Payer : Deliverhealth Solutions India Pvt Ltd, (earlier known as Nuance Transcription Services Pvt Ltd)
High Court

HC: Quashes assessment-order passed without DRP’s directions; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-722-HC-2023(BOM)-TP
  • Tax Payer : Renaissance Global Limited
Income tax Appellate Tribunal

ITAT: Upholds assessee's benchmarking w.r.t interest paid on unsecured NCDs

  • In Favour of Assessee
  • Citation Number : TS-720-ITAT-2023(VIZ)-TP
  • Tax Payer : Arkha Solar Power Private Limited
Income tax Appellate Tribunal

ITAT: Remits adjustment w.r.t business development services, reject's TPO's expense-apportionment approach

  • In Favour of Assessee
  • Citation Number : TS-719-ITAT-2023(Bang)-TP
  • Tax Payer : OnMobile Global Ltd
Income tax Appellate Tribunal

ITAT: DIN mandatory on DRP directions; Subsequent intimation violates CBDT Circular

  • In Favour of Assessee
  • Citation Number : TS-718-ITAT-2023(CHNY)-TP
  • Tax Payer : Sutherland Global & Others
Income tax Appellate Tribunal

ITAT: AO passed order sans TPO’s reference, breached CBDT’s mandatory instruction; Upholds 263 order

  • In Favour of Assessee
  • Citation Number : TS-715-ITAT-2023(Bang)-TP
  • Tax Payer : Tokai Rika Minda India Private Limited
High Court

HC: Accepts assessee’s employee cost allocation; Excludes comparable citing ‘sketchy’ information on profile

  • In Favour of Assessee
  • Citation Number : TS-717-HC-2023(DEL)-TP
  • Tax Payer : WSP Consultants India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Observes, L&T cannot escape TP-applicability merely by pleading commercial expediency

  • In Favour of Assessee
  • Citation Number : TS-716-ITAT-2023(Mum)-TP
  • Tax Payer : Larsen & Toubro Limited
Income tax Appellate Tribunal

ITAT: Accepts Revenue’s plea under Rule 27; Directs US-MAP approach for non-US transactions

  • In Favour of Assessee
  • Citation Number : TS-714-ITAT-2023(DEL)-TP
  • Tax Payer : Hewitt Associates (India)P Ltd
Income tax Appellate Tribunal

ITAT: Quashes draft order coupled with demand/penalty notices; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-713-ITAT-2023(Mum)-TP
  • Tax Payer : Panasonic Life Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: No change in assessee’s functional profile, follows precedents to exclude 4 comparables

  • In Favour of Assessee
  • Citation Number : TS-712-ITAT-2023(HYD)-TP
  • Tax Payer : GD Research Center Pvt Ltd
Income tax Appellate Tribunal

ITAT: Benchmarks interest on ECB at SBI+25 bps; Validates AO’s jurisdiction u/s 144B(8)

  • In Favour of Both, Partially
  • Citation Number : TS-710-ITAT-2023(PUN)-TP
  • Tax Payer : Prodair Air Products India Private Limited
Income tax Appellate Tribunal

ITAT: No reason to reject assessee's IGS benchmarking supported by PWC, KPMG reports

  • In Favour of Assessee
  • Citation Number : TS-711-ITAT-2023(Mum)-TP
  • Tax Payer : CLSA India Private Ltd
Income tax Appellate Tribunal

ITAT: Necessary to determine borrower's credit rating for determining ALP-interest, remits benchmarking

  • In Favour of Both, Partially
  • Citation Number : TS-708-ITAT-2023(Mum)-TP
  • Tax Payer : Nipro India Corporation Pvt Ltd