Rulings ( 11332 results )

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Income tax Appellate Tribunal

ITAT: Confirms TP-adjustments w.r.t interest on AE-loans and share application money, directs adoption of LIBOR

Feb 10, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-72-ITAT-2023(Mum)-TP
  • Tax Payer : Bombay Rayon Holdings Ltd
Income tax Appellate Tribunal

ITAT: Excludes 2, includes 1 as comparable under assessee's Market Support Services

Feb 10, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-69-ITAT-2023(DEL)-TP
  • Tax Payer : Belden India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s deletion of TP adjustment qua sale of power u/s 80IA, follows precedents

Feb 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-71-ITAT-2023(Kol)-TP
  • Tax Payer : Birla Corporation Limited
Income tax Appellate Tribunal

ITAT: Quashes TP adjustment, final assessment order passed without incorporating DRP’s directions

Feb 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-70-ITAT-2023(Bang)-TP
  • Tax Payer : Tata Power Solar Systems Limited
Income tax Appellate Tribunal

ITAT: Justifies 5% mark-up on availing IT Support Services as acceptable under international guidelines

Feb 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-68-ITAT-2023(DEL)-TP
  • Tax Payer : BMW India Financial Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TP-adjustment on corporate guarantee, AE- interest, Deletes interest qua share application money

Feb 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-67-ITAT-2023(Mum)-TP
  • Tax Payer : Voltas Limited
Income tax Appellate Tribunal

ITAT: Remits working capital adjustment and interest on outstanding AE-receivables; Excludes comparables

Feb 09, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-64-ITAT-2023(Bang)-TP
  • Tax Payer : Sabre Travel Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restricts TP adjustment under distribution segment to international-transaction only; Applies rule of consistency

Feb 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-65-ITAT-2023(Bang)-TP
  • Tax Payer : Wipro GE Healthcare Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects assessee's internal TNMM qua manufacturing activity citing volume and geographical differences

Feb 09, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-66-ITAT-2023(PUN)-TP
  • Tax Payer : Bilcare Limited
High Court

HC: Dismisses assessee’s writ against DRP-order; Notes sufficient opportunity extended to assessee

Feb 08, 2023
  • In Favour of Revenue
  • Citation Number : TS-1274-HC-2020(MAD)-TP
  • Tax Payer : KOSTAL India Private Limited
High Court

HC: Dismisses Revenue’s appeal; Confirms ITAT-order setting aside final assessment-order passed in violation of Sec.144C

Feb 08, 2023
  • In Favour of Assessee
  • Citation Number : TS-63-HC-2023(KAR)-TP
  • Tax Payer : Flextronics Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM over TPO’s CUP for computing ALP of cost contribution charges

Feb 08, 2023
  • In Favour of Assessee
  • Citation Number : TS-61-ITAT-2023(Bang)-TP
  • Tax Payer : Ingersoll-Rand (India) Limited
High Court

HC: Upholds dismissal of writ against DRP order noting assessee's failure to produce documents and alternate remedy

Feb 08, 2023
  • In Favour of Revenue
  • Citation Number : TS-930-HC-2022(MAD)-TP
  • Tax Payer : KOSTAL India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds LIBOR for benchmarking interest on outbound INR loans to AE; Follows Cotton Naturals

Feb 08, 2023
  • In Favour of Assessee
  • Citation Number : TS-62-ITAT-2023(VIZ)-TP
  • Tax Payer : 3F Industries Limited
Income tax Appellate Tribunal

ITAT: Deletes addition w.r.t guarantee commission; Follows precedents

Feb 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-59-ITAT-2023(Mum)-TP
  • Tax Payer : Capgemini S E, (Formerly known as Capgemini SA)
Income tax Appellate Tribunal

ITAT: Remits benchmarking exercise for interest on borrowings, placements and guarantee commission; Follows precedent

Feb 07, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-58-ITAT-2023(Mum)-TP
  • Tax Payer : Mizuho Bank Ltd
Income tax Appellate Tribunal

ITAT: Holds no international transaction for incurring AMP expenditure; Refrains from remitting the matter further

Feb 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-57-ITAT-2023(DEL)-TP
  • Tax Payer : Perfetti Van Melle India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants working-capital adjustment on actuals; Rules on comparables under Business-Support Services segment

Feb 07, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-60-ITAT-2023(Bang)-TP
  • Tax Payer : EIT Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside draft assessment order passed in name of merged, non-existent entity; Follows precedent

Feb 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-54-ITAT-2023(Mum)-TP
  • Tax Payer : India Medtronic Private Limited (Successor to Covidien Healthcare India - Private Limited)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua management fee payment, TPO did not adopt any prescribed method

Feb 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-53-ITAT-2023(PUN)-TP
  • Tax Payer : Franke Faber India Private Limited