Rulings ( 11332 results )

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Income tax Appellate Tribunal

ITAT: Rules on comparable selection; Remits adjustment qua working capital, capacity utilization and operating cost; Follows precedents

Mar 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-129-ITAT-2023(Bang)-TP
  • Tax Payer : Shindengen India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sales to local vendors uninfluenced by AE, not deemed international transactions for computing TP-adjustment

Mar 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-132-ITAT-2023(Bang)-TP
  • Tax Payer : Comer Industries India Private Limited
Foreign Court

FC: US Tax Court upholds TP adjustment qua trademark royalty; Rules on validity of foreign legal restrictions

Mar 03, 2023
  • In Favour of Revenue
  • Citation Number : TS-128-FC-2023(USA)-TP
  • Tax Payer : 3M Company and Subsidiaries
Income tax Appellate Tribunal

ITAT: Upholds ALP interest on outbound foreign currency loans at rates prevalent in AE-residence country; Follows Cotton Naturals

Mar 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-125-ITAT-2023(DEL)-TP
  • Tax Payer : Uniparts India Ltd
Income tax Appellate Tribunal

ITAT: Remits TP adjustments w.r.t marketing support services, mark-up on external cost

Mar 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-126-ITAT-2023(Mum)-TP
  • Tax Payer : Boehringer Ingelheim India Private Limited
Income tax Appellate Tribunal

ITAT: Change in filters / comparables not concealment of income; Deletes penalty u/s 271(1)(c)

Mar 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-127-ITAT-2023(DEL)-TP
  • Tax Payer : AON Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Infosys as comparable for routine IT service provider citing functional dissimilarity, upper turnover filter

Mar 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-124-ITAT-2023(Bang)-TP
  • Tax Payer : Arris Group India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Wipro, Infosys as comparables; Deletes TP-adjustment qua reimbursement of out-of-pocket expenses

Mar 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-123-ITAT-2023(Mum)-TP
  • Tax Payer : Capgemini India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed sans draft order; Follows precedents

Mar 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-122-ITAT-2023(Kol)-TP
  • Tax Payer : Linc Pen & Plastics Ltd
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP of management fee payment when AE-relationship established due to existence of services

Mar 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-121-ITAT-2023(Bang)-TP
  • Tax Payer : WeWork India Management P Ltd
Income tax Appellate Tribunal

ITAT: Excludes 8 comparables for failing upper turnover filter; Follows earlier order

Feb 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-120-ITAT-2023(Bang)-TP
  • Tax Payer : Aptean India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Prefers TNMM to PSM for benchmarking royalty; Follows precedent

Feb 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-119-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Remits issue of considering cash profit for PLI computations; Excludes 5 comparables citing high turnover

Feb 28, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-118-ITAT-2023(Bang)-TP
  • Tax Payer : Mapei Constructions Products (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds sale of 3.35% shares of United Spirits be subject to ALP determination; Reads 92A(2) "literally"

Feb 28, 2023
  • In Favour of Revenue
  • Citation Number : TS-117-ITAT-2023(Bang)-TP
  • Tax Payer : Palmer Investment Group Ltd
Income tax Appellate Tribunal

ITAT: Holds TPO order barred by limitation; Quashes draft order since assessee not an ‘eligible assessee’

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-116-ITAT-2023(Mum)-TP
  • Tax Payer : Atos India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua interest on loan given to 100% subsidiary; Follows earlier-order

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-115-ITAT-2023(DEL)-TP
  • Tax Payer : SRF Limited
Income tax Appellate Tribunal

ITAT: Cannot segregate SEB tariff into various components while computing ALP of sale of power

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-113-ITAT-2023(HYD)-TP
  • Tax Payer : Bharathi Cement Corporation Private Limited
Income tax Appellate Tribunal

ITAT: Holds draft order passed alongwith demand/penalty notices null & void, follows Perfetti

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-114-ITAT-2023(Kol)-TP
  • Tax Payer : Zydus Healthcare Limited (Successor to Zydus Healthcare Sikkim)
Income tax Appellate Tribunal

ITAT: Remits comparables for non-application of filters; Excludes 3 calling them giants in IT field

Feb 24, 2023
  • In Favour of Assessee
  • Citation Number : TS-109-ITAT-2023(Mum)-TP
  • Tax Payer : Minacs Private Limited (Formerly known as Aditya Birla Minacs Worldwide Limited)
Income tax Appellate Tribunal

ITAT: Excludes 4 applying upper-turnover filter; Restricts outstanding AE-receivables' interest at LIBOR+3.5%

Feb 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-110-ITAT-2023(Bang)-TP
  • Tax Payer : Deliverhealth Solutions India Pvt Ltd, (earlier known as Nuance Transcription Services Pvt Ltd)