Rulings ( 11332 results )

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Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed beyond one month of DRP direction; Follows precedent

Feb 24, 2023
  • In Favour of Assessee
  • Citation Number : TS-111-ITAT-2023(Bang)-TP
  • Tax Payer : ARM Embedded Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats duty drawback as operating, rules on comparables, allows working capital adjustment

Feb 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-112-ITAT-2023(Bang)-TP
  • Tax Payer : Kirloskar Toyota Textile Machinery Private Limited
Income tax Appellate Tribunal

ITAT: Rejects aggregate benchmarking under TNMM, directs AO to adopt customs valuation qua purchase transaction

Feb 23, 2023
  • In Favour of Assessee
  • Citation Number : TS-106-ITAT-2023(Bang)-TP
  • Tax Payer : AT India Auto Parts Private Limited
Income tax Appellate Tribunal

ITAT: Remits issue to decide denovo on nature of services rendered to AEs and non-AEs

Feb 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-107-ITAT-2023(HYD)-TP
  • Tax Payer : E.Centric Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Remits ALP determination for purchase of capital goods & finished goods, leaves MAM selection open

Feb 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-108-ITAT-2023(Mum)-TP
  • Tax Payer : Owens-Corning (India) Pvt Ltd [Formerly known as Owens Corning (India) Ltd]
Income tax Appellate Tribunal

ITAT: Excludes Titan, Tribhovandas Bhimji Zaveri as comparables for PNG Jewellers; Refuses separate SDT benchmarking

Feb 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-105-ITAT-2023(PUN)-TP
  • Tax Payer : P N Gadgil Jewellers Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua AMP expenditure; Follows precedent

Feb 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-100-ITAT-2023(Bang)-TP
  • Tax Payer : Acer India Private Limited
Income tax Appellate Tribunal

ITAT: Outstanding receivables exceeding 4 months no ground to exclude comparable; Remits adjustment w.r.t advisory services fee

Feb 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-101-ITAT-2023(PUN)-TP
  • Tax Payer : Emerson Climate Technologies (India) Limited
Income tax Appellate Tribunal

ITAT: Remits comparables' selection qua ITeS & MSS, directs DRP to adjudicate on merits

Feb 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-103-ITAT-2023(DEL)-TP
  • Tax Payer : Inter Continental Hotels Group (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes functionally different comparables under manufacturing segment

Feb 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-104-ITAT-2023(Bang)-TP
  • Tax Payer : Yokogawa India Limited
Supreme Court

SC: Dismisses Revenue-SLP against HC-order on comparables; Question of law on HC powers kept open

Feb 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-102-SC-2023-TP
  • Tax Payer : Evalueserve.com Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on ALP adjustment qua royalty payment, applies rule of consistency

Feb 21, 2023
  • In Favour of Assessee
  • Citation Number : TS-99-ITAT-2023(PUN)-TP
  • Tax Payer : MAN Energy Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: Directs TPO to provide assessee an opportunity to rebut comparables selected; Cites principles of natural justice

Feb 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-98-ITAT-2023(VIZ)-TP
  • Tax Payer : Quantum Clothing India Private Limited
Income tax Appellate Tribunal

ITAT: Holds corporate-guarantee as international transaction; Fixes guarantee amount @ 0.50%

Feb 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-97-ITAT-2023(VIZ)-TP
  • Tax Payer : 3F Industries Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables for market support and warranty support services, Cites functional dissimilarity

Feb 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-96-ITAT-2023(Bang)-TP
  • Tax Payer : Technicolor India Pvt Ltd, (Formerly known as Thomson Holdings India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Excludes 9 comparables under SWD segment; Holds outstanding-receivables as international transaction

Feb 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-1275-ITAT-2020(Bang)-TP
  • Tax Payer : Metric Stream Infotech (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds LIBOR based benchmarking for interest on AE-loan, Approves guarantee commission at 0.75%; Follows Everest Kento

Feb 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-95-ITAT-2023(Mum)-TP
  • Tax Payer : Wockhardt Ltd
Income tax Appellate Tribunal

ITAT: Adopts LIBOR+2% as ALP interest rate for AE-loan, follows earlier order

Feb 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-92-ITAT-2023(Ahd)-TP
  • Tax Payer : Soma Textiles & Industries Ltd
Income tax Appellate Tribunal

ITAT: Quashes TPO order and consequent assessment order being barred by limitation; Follows precedents

Feb 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-93-ITAT-2023(Mum)-TP
  • Tax Payer : DSV Air & Sea Pvt. Ltd. [Successor to Panalpina World Transport (India) Pvt Ltd]
Income tax Appellate Tribunal

ITAT: Upholds assessee's RPM over TPO's TNMM qua distribution segment, deletes AMP adjustment

Feb 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-94-ITAT-2023(Bang)-TP
  • Tax Payer : Acer India Private Limited