Rulings ( 11332 results )

Filters
Income tax Appellate Tribunal

ITAT: Upholds ALP adjustment on interest free loan at LIBOR + 2% and on corporate guarantee at 0.5%; Follows precedents

Feb 17, 2023
  • In Favour of Revenue
  • Citation Number : TS-90-ITAT-2023(Mum)-TP
  • Tax Payer : Piramal Glass Ltd (earlier known as ‘Gujarat Glass Pvt Ltd’)
Income tax Appellate Tribunal

ITAT: Sets aside issue of MAM-selection; Assessee to prove rendition of various services by AEs

Feb 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-91-ITAT-2023(HYD)-TP
  • Tax Payer : Zuari Cement Ltd
High Court

HC: Stays AO's intimation for appointment of independent valuer for Star India; Directs awaiting Special Bench order

Feb 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-89-HC-2023(BOM)-TP
  • Tax Payer : Star India Private Limited
Income tax Appellate Tribunal

ITAT: Directs TPO to examine treatment of expenses in other years and consider inclusion in computing PLI

Feb 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-1147-ITAT-2017(DEL)-TP
  • Tax Payer : Becton Dickinson India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustments qua customisation fee, interest on outstanding balances; Follows earlier orders

Feb 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-88-ITAT-2023(Mum)-TP
  • Tax Payer : Oracle Financial Services Software Ltd. (Formerly known as I-flex Solutions Ltd)
Income tax Appellate Tribunal

ITAT: Cites inconsistency in authorities’ reasons to determine NIL ALP for intra-group services; Remits for fresh consideration

Feb 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-87-ITAT-2023(Mum)-TP
  • Tax Payer : Hafele India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds corporate-guarantee as an international transaction; Restricts guarantee fee at 0.5% basis Greenply Industries

Feb 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-86-ITAT-2023(Kol)-TP
  • Tax Payer : Tata Global Beverages Ltd
Income tax Appellate Tribunal

ITAT: Upholds SDT adjustment u/s 80IB qua inter-unit sale of chocolate

Feb 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-85-ITAT-2023(Mum)-TP
  • Tax Payer : Jindal Drugs Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds TP-adjustment cannot be added to MAT book profits; Rejects use of multiple-year data

Feb 15, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-84-ITAT-2023(Kol)-TP
  • Tax Payer : Normura Research Institute Financial Technologies India Private Limited (formerly known as Anshin Software Private Limited)
Income tax Appellate Tribunal

ITAT: Holds internal TNMM as MAM qua export sales; Upholds inclusion of comparables

Feb 15, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-83-ITAT-2023(Mum)-TP
  • Tax Payer : Lanxess India Private Ltd.
Income tax Appellate Tribunal

ITAT: Refuses to revisit the view taken on remand of Star India's case; Dismisses Sec 254 MA

Feb 15, 2023
  • In Favour of Revenue
  • Citation Number : TS-81-ITAT-2023(Mum)-TP
  • Tax Payer : Star India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Affirms advances to AEs as loans, rejects Adani Power’s characterization as quasi equity

Feb 15, 2023
  • In Favour of Revenue
  • Citation Number : TS-82-ITAT-2023(Ahd)-TP
  • Tax Payer : Adani Power Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables failing upper turnover filter, allows working capital adjustment; Follows precedents

Feb 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-80-ITAT-2023(Bang)-TP
  • Tax Payer : VeriFone India Technology Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment w.r.t outstanding AE-receivables; Holds export incentive as operating in nature

Feb 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-78-ITAT-2023(Bang)-TP
  • Tax Payer : AB INBEV GCC Services India Pvt Ltd (earlier known as GCC Services India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Holds TPO reference mandatory, non-compliance of CBDT Instructions results in nullity of order

Feb 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-79-ITAT-2023(DEL)-TP
  • Tax Payer : Meneta Automotive Components Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed sans draft order; Subsequent withdrawal of void order not acceptable

Feb 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-77-ITAT-2023(Kol)-TP
  • Tax Payer : Philips India Limited
Income tax Appellate Tribunal

ITAT: Holds final assessment-order passed sans draft-order in remand proceedings violates Sec.144C; Quashes it

Feb 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-73-ITAT-2023(Bang)-TP
  • Tax Payer : Alpha Elsec Defence & Aerospace Systems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment for payment of royalty by Maruti Suzuki India; Follows precedent

Feb 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-75-ITAT-2023(DEL)-TP
  • Tax Payer : Maruti Suzuki India Limited
Income tax Appellate Tribunal

ITAT: Directs admission of additional evidences to benchmark import and export transactions

Feb 13, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-74-ITAT-2023(CHNY)-TP
  • Tax Payer : Southern Petrochemical Industries Corporation Ltd
Income tax Appellate Tribunal

ITAT: Remits comparables' selection under manufacturing and SWD service segments, allows working capital adjustment

Feb 13, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-76-ITAT-2023(Bang)-TP
  • Tax Payer : Continental Automotive Components India Pvt Ltd