Rulings ( 11908 results )

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Income tax Appellate Tribunal

ITAT: Director’s salary, commission closely related; Accepts benchmarking on aggregate basis

  • In Favour of Assessee
  • Citation Number : TS-609-ITAT-2023(Mum)-TP
  • Tax Payer : The Supreme Industries Ltd
Income tax Appellate Tribunal

ITAT: Upholds comparables' exclusion for BPO service-provider citing amalgamation, functional dissimilarity, etc.

  • In Favour of Assessee
  • Citation Number : TS-608-ITAT-2023(DEL)-TP
  • Tax Payer : Reservation Data Maintenance India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on interest on foreign currency loan advanced; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-607-ITAT-2023(DEL)-TP
  • Tax Payer : Uniparts India Ltd
Income tax Appellate Tribunal

ITAT: CIT(A) exceeded jurisdiction conferred, sets aside ALP-determination for export/import

  • In Favour of Assessee
  • Citation Number : TS-605-ITAT-2023(DEL)-TP
  • Tax Payer : Agrozan India P Ltd
Income tax Appellate Tribunal

ITAT: Excludes TCS E-Serve, Accentia citing functional-dissimilarity / amalgamation for IT-service provider

  • In Favour of Assessee
  • Citation Number : TS-604-ITAT-2023(DEL)-TP
  • Tax Payer : Bain Capability Centre India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP of technical know-how fee, deletes adjustment qua expense reimbursement

  • In Favour of Assessee
  • Citation Number : TS-606-ITAT-2023(Mum)-TP
  • Tax Payer : UPS Express Private Ltd (Formerly known as UPS Jetair Express Private Ltd)
Income tax Appellate Tribunal

ITAT: Accepts TPO’s TNMM for import transactions; Grants benefit of +/-5% tolerance range

  • In Favour of Both, Partially
  • Citation Number : TS-601-ITAT-2023(Mum)-TP
  • Tax Payer : Bunge India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Reject’s TPO/DRP’s benchmarking of franchise fees /royalty on adhoc basis; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-602-ITAT-2023(DEL)-TP
  • Tax Payer : Jubilant Foodworks Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua sale of barite lumps considering benefit of +/-5% variation

  • In Favour of Assessee
  • Citation Number : TS-603-ITAT-2023(CHNY)-TP
  • Tax Payer : Trimex Industries (P) Ltd
Income tax Appellate Tribunal

ITAT: Upholds notional interest on AE advances; Rejects TP adjustment on liaison services

  • In Favour of Both, Partially
  • Citation Number : TS-598-ITAT-2023(Ahd)-TP
  • Tax Payer : Kalpataru Power Transmission Ltd
Income tax Appellate Tribunal

ITAT: Characterizes assessee as limited-risk distributor, remits benchmarking of import of defence equipment

  • In Favour of Both, Partially
  • Citation Number : TS-600-ITAT-2023(Mum)-TP
  • Tax Payer : Rosoboronservice India Limited
Income tax Appellate Tribunal

ITAT: Transaction with Irish assessee at ALP, no further profit attributable to Adobe India

  • In Favour of Both, Partially
  • Citation Number : TS-599-ITAT-2023(DEL)-TP
  • Tax Payer : Adobe Systems Software Ireland Limited
Income tax Appellate Tribunal

ITAT: No justification to explain variance between AE & non-AE prices, remits ALP-determination

  • In Favour of Both, Partially
  • Citation Number : TS-597-ITAT-2023(Ahd)-TP
  • Tax Payer : Shell Global Solutions International BV
Income tax Appellate Tribunal

ITAT: Deletes brand adjustment, remits adjustment qua domestic car sale segment; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-596-ITAT-2023(CHNY)-TP
  • Tax Payer : Hyundai Motor India Ltd
High Court

HC: Interprets Sec.153; Quashes assessment-order passed beyond limitation prescribed u/s.153(2A)

  • In Favour of Assessee
  • Citation Number : TS-595-HC-2023(TEL)-TP
  • Tax Payer : TNS India Private Limited
Income tax Appellate Tribunal

ITAT: Confirms deletion of Sec.271(1)(c) penalty qua cost-sharing arrangement etc., follows precedents

  • In Favour of Assessee
  • Citation Number : TS-590-ITAT-2023(DEL)-TP
  • Tax Payer : Johnson Matthey India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds final assessment-order as barred by limitation; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-594-ITAT-2023(DEL)-TP
  • Tax Payer : Little Fairy Limited
Income tax Appellate Tribunal

ITAT: Interprets "or", holds 'market value' u/s.80IA(8) not compulsorily governed by ALP principle in case of Tata Chemicals

  • In Favour of Assessee
  • Citation Number : TS-593-ITAT-2023(Mum)-TP
  • Tax Payer : Tata Chemicals Limited
Income tax Appellate Tribunal

ITAT: Accepts TNMM at entity-level, basis entity-level agreement; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-592-ITAT-2023(Ind)-TP
  • Tax Payer : Computer Sciences Corporation India Private Limited
Income tax Appellate Tribunal

ITAT: 144(2)(b) mandates filing objections before both (DRP, AO) within 30 days

  • In Favour of Revenue
  • Citation Number : TS-589-ITAT-2023(Rjt)-TP
  • Tax Payer : Kandla Energy and Chemicals Ltd