Rulings ( 11518 results )

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Income tax Appellate Tribunal

ITAT: Observes ‘inherent inconsistency’ in comparability analysis qua advertising services; Directs fresh comparability analysis

May 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-248-ITAT-2023(Mum)-TP
  • Tax Payer : Publicis Communication P Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua procurement cost citing acceptance of mirror transaction for AE; Follows precedents

May 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-249-ITAT-2023(Mum)-TP
  • Tax Payer : Tecnimont SPA India Office
Income tax Appellate Tribunal

ITAT: Admits additional ground, quashes TPO's and final assessment orders being barred by limitation

May 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-250-ITAT-2023(Mum)-TP
  • Tax Payer : Bristol-Myers Squibb India Private Limited
Income tax Appellate Tribunal

ITAT: Quashes TPO’s order, final assessment order being barred by limitation; Follows precedents

May 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-247-ITAT-2023(Mum)-TP
  • Tax Payer : Colgate-Palmolive (India) Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on SDT given omission of Sec.92BA(i); Refuses remand of Sec.40A(2)(b)-applicability issue

May 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-246-ITAT-2023(Mum)-TP
  • Tax Payer : Tranztar Commercial Vehicle Applications Limited
Income tax Appellate Tribunal

ITAT: Directs deletion of TP-addition qua reimbursement of expenses if not a P&L item, Upholds guarantee fee at 0.53%

Apr 28, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-244-ITAT-2023(HYD)-TP
  • Tax Payer : Ocimum Bio Solutions (I) Ltd
Income tax Appellate Tribunal

ITAT: Holds assessee's main activity marketing, not distribution; Remits comparables' selection to CIT(A)

Apr 28, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-245-ITAT-2023(PUN)-TP
  • Tax Payer : Hexagon Manufacturing Intelligence India Private Limited (Formerly known as MSC Software Corporation India Private Limited)
Income tax Appellate Tribunal

ITAT: Holds ‘other method’ over CUP/TNMM as MAM to benchmark royalty payment for unique intangibles

Apr 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-243-ITAT-2023(Mum)-TP
  • Tax Payer : ASB International Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua transfer of captive power between units; Follows earlier order

Apr 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-241-ITAT-2023(RAI)-TP
  • Tax Payer : Godawari Power and Ispat Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s TNMM over CUP as MAM for export transaction; Remits ALP-determination

Apr 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2023(Mum)-TP
  • Tax Payer : Omni Active Health Technologies Limited
Income tax Appellate Tribunal

ITAT: Holds reference to TPO invalid considering Sec.92BA(i) omission; Directs AO to examine allowability u/s.40A(2)

Apr 26, 2023
  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2023(CHNY)-TP
  • Tax Payer : Maharaja Refineries
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustments towards royalty/ referral fee payments & expense reimbursement; Follows earlier orders

Apr 26, 2023
  • In Favour of Assessee
  • Citation Number : TS-238-ITAT-2023(Mum)-TP
  • Tax Payer : CLSA India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables for failing turnover filter, functional dissimilarity; Remits adjustment qua outstanding receivables

Apr 26, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-239-ITAT-2023(Bang)-TP
  • Tax Payer : NTS Technology Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts Lodha Developers' corporate guarantee benchmarking based on yield approach @ 0.35%

Apr 26, 2023
  • In Favour of Assessee
  • Citation Number : TS-237-ITAT-2023(Mum)-TP
  • Tax Payer : Macrotech Developers Limited
Income tax Appellate Tribunal

ITAT: Invalidates TPO-reference qua SDT under omitted Sec.92BA(i); Restricts TP-adjustment to AE-transactions only

Apr 25, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-235-ITAT-2023(Bang)-TP
  • Tax Payer : TT Steel Service India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds revisionary order passed u/s 263, considering AO’s non-reference to TPO

Apr 25, 2023
  • In Favour of Revenue
  • Citation Number : TS-236-ITAT-2023(Ahd)-TP
  • Tax Payer : Shree Ganesh Intermediary P Ltd
Income tax Appellate Tribunal

ITAT: Permits assessee to withdraw appeal on TP grounds in light of APA resolution

Apr 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-233-ITAT-2023(PUN)-TP
  • Tax Payer : Amdocs Development Centre India LLP
Income tax Appellate Tribunal

ITAT: Rules on comparables; Remits TP-adjustment qua depreciation, working capital and forex gain/loss

Apr 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-234-ITAT-2023(Ind)-TP
  • Tax Payer : Computer Sciences Corporation India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds TP adjustment qua salary of employees seconded; Rejects third party placement agency rates

Apr 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-231-ITAT-2023(Mum)-TP
  • Tax Payer : Zensar Technologies Ltd
Income tax Appellate Tribunal

ITAT: Upholds exclusion of 5 comparables citing high turnover qua drug manufacturer

Apr 21, 2023
  • In Favour of Assessee
  • Citation Number : TS-232-ITAT-2023(Kol)-TP
  • Tax Payer : Alkaloids Corporation