Rulings ( 11519 results )

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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
Income tax Appellate Tribunal

ITAT: Upholds external TNMM for benchmarking export of finished goods; Follows earlier order

Apr 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-228-ITAT-2023(Mum)-TP
  • Tax Payer : Unilever India Exports Ltd
Income tax Appellate Tribunal

ITAT: Rejects addition of DCF value of AMC income, customs duty to operating margin; Grants range benefit

Apr 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-229-ITAT-2023(Mum)-TP
  • Tax Payer : Schindler India Private Limtied
Income tax Appellate Tribunal

ITAT: Considers RPM as MAM to determine ALP of distribution transaction; Follows earlier order

Apr 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-230-ITAT-2023(HYD)-TP
  • Tax Payer : Commvault Systems (India) Private Limited
Supreme Court

SC: ALP determination, judicious selection of filters are 'substantial questions of law'; Quashes Softbrands

Apr 19, 2023
  • In Favour of Revenue
  • Citation Number : TS-225-SC-2023-TP
  • Tax Payer : SAP Labs India Pvt. Ltd. & Others
Income tax Appellate Tribunal

ITAT: Treats insurance amount, FOREX fluctuation as operating in nature; Restricts TP-adjustment to transaction level

Apr 19, 2023
  • In Favour of Assessee
  • Citation Number : TS-226-ITAT-2023(Ahd)-TP
  • Tax Payer : KHS Machinery P Ltd
Income tax Appellate Tribunal

ITAT: Remits assessee's plea for inclusion of comparable; Notes difference in product manufactured, end-use

Apr 19, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-227-ITAT-2023(PUN)-TP
  • Tax Payer : Valmont Structures Pvt Ltd
High Court

HC: Sets aside notice u/s 263 being barred by limitation

Apr 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-224-HC-2023(KAR)-TP
  • Tax Payer : Quest Global Engineering Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment for interest on AE receivables as it was accounted under working capital adjustment; Follows precedents

Apr 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-223-ITAT-2023(Ahd)-TP
  • Tax Payer : Effective Teleservices Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects TPO’s ‘other method’ absent conclusive evidence and upholds TNMM; Upholds assessment ignoring technical error

Apr 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-222-ITAT-2023(CHNY)-TP
  • Tax Payer : Renault Nissan Automotive India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 4, retains 4 comparables based on functional similarity for Vodafone Global Services

Apr 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-221-ITAT-2023(PUN)-TP
  • Tax Payer : Vodafone Global Services Private Limited
Supreme Court

SC: Dismisses Revenue’s SLP on inter-company loans and corporate guarantee; Condones delay

Apr 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-936-SC-2022-TP
  • Tax Payer : Vaibhav Global Limited
Income tax Appellate Tribunal

ITAT: Follows Pfizer ruling, holds TPO's order / assessment order barred by limitation

Apr 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-220-ITAT-2023(Mum)-TP
  • Tax Payer : Colgate-Palmolive (India) Limited
Income tax Appellate Tribunal

ITAT: Holds final assessment barred by limitation and non-est in law; Follows precedents

Apr 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-219-ITAT-2023(HYD)-TP
  • Tax Payer : Mane India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes/remits comparables applying upper turnover, persistent loss making filter and FAR; Follows precedents

Apr 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-218-ITAT-2023(Bang)-TP
  • Tax Payer : ISG Novasoft Technologies Ltd
Income tax Appellate Tribunal

ITAT: Analyses assessee as BPO-service provider; Excludes comparables citing high turnover, functional-dissimilarity

Apr 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-215-ITAT-2023(PUN)-TP
  • Tax Payer : BNY Mellon International Operations (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua receipt of intra-group services; Follows earlier orders

Apr 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-216-ITAT-2023(DEL)-TP
  • Tax Payer : Avery Dennision (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds salary reimbursement for Morgan Stanley’s seconded employees not FTS/FIS, rejects TPO-reference

Apr 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-217-ITAT-2023(Mum)-TP
  • Tax Payer : Morgan Stanley International Incorporated
Income tax Appellate Tribunal

ITAT: Directs overseas AEs to be considered as tested parties; Follows precedent

Apr 12, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-212-ITAT-2023(Bang)-TP
  • Tax Payer : Unilog Content Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Treats provision for doubtful debts as operating expense, grants working-capital adjustment, rules on comparables

Apr 12, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-213-ITAT-2023(Bang)-TP
  • Tax Payer : Ocwen Financial Solutions Pvt Ltd