Rulings ( 11908 results )

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Income tax Appellate Tribunal

ITAT: Remits issue of economic adjustment qua deduction u/s 80IC, follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-591-ITAT-2023(CHNY)-TP
  • Tax Payer : L G Balakrishnan & Bros Limited
Income tax Appellate Tribunal

ITAT: Opines simultaneous issue of DIN insignificant; Sets aside lower authorities’ orders

  • In Favour of Assessee
  • Citation Number : TS-588-ITAT-2023(DEL)-TP
  • Tax Payer : Toyoda Micromatic Machinery India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes interest on share-application money, considers LIBOR+300 bps on receivables; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-585-ITAT-2023(Mum)-TP
  • Tax Payer : Strides Pharma Science Ltd
Income tax Appellate Tribunal

ITAT: Laments AO's failure to give timely effect to revisionary orders, allows assessee's appeal

  • In Favour of Assessee
  • Citation Number : TS-586-ITAT-2023(Mum)-TP
  • Tax Payer : KKR India Advisors Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s appeal as infructuous, TP-adjustment already deleted by this bench

  • In Favour of Assessee
  • Citation Number : TS-587-ITAT-2023(DEL)-TP
  • Tax Payer : Amadeus India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Imputes corporate guarantee commission @ 0.5%, rejects NIL ALP of royalty payment

  • In Favour of Both, Partially
  • Citation Number : TS-583-ITAT-2023(CHNY)-TP
  • Tax Payer : VA Tech Wabag Ltd
Income tax Appellate Tribunal

ITAT: Holds TP-adjustment qua SDT not sustainable; Remits Sec.40A(2)(b)-applicability issue

  • In Favour of Assessee
  • Citation Number : TS-584-ITAT-2023(Mum)-TP
  • Tax Payer : Imperial Mark Trade (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustments for import of raw material, data management fees; Follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-581-ITAT-2023(Ahd)-TP
  • Tax Payer : Schneider Electric Infrastructure Limited
Income tax Appellate Tribunal

ITAT: Accepts assessee’s suo-moto benchmarking of guarantee commission @ 1.15%; Follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-582-ITAT-2023(Mum)-TP
  • Tax Payer : The Great Eastern Shipping Co Ltd
Income tax Appellate Tribunal

ITAT: Remits benchmarking of performance guarantee akin to financial guarantee with risk mitigation

  • In Favour of Both, Partially
  • Citation Number : TS-580-ITAT-2023(Mum)-TP
  • Tax Payer : The Great Eastern Shipping Co Ltd
High Court

HC: Appellate authorities can adopt different method from assessee’s; Upholds internal TNMM

  • In Favour of Assessee
  • Citation Number : TS-579-HC-2023(DEL)-TP
  • Tax Payer : Hellmann Worldwide Logistics India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Affirms CIT(A)'s restriction of TP-adjustment in Adani Power's case, follows earlier order

  • In Favour of None/NA
  • Citation Number : TS-578-ITAT-2023(Ahd)-TP
  • Tax Payer : Adani Power Ltd
High Court

HC: Upholds ITAT order quashing draft order passed with demand & penalty notices

  • In Favour of Assessee
  • Citation Number : TS-577-HC-2023(TEL)-TP
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Upholds parties as AE, deemed AE; Determines ALP of NCD interest, issue expenses

  • In Favour of Both, Partially
  • Citation Number : TS-576-ITAT-2023(HYD)-TP
  • Tax Payer : Neovantage Innovation Park Private Limited
Income tax Appellate Tribunal

ITAT: Sets aside NIL ALP for ESOP expenses on vested options; Remits ALP determination

  • In Favour of Assessee
  • Citation Number : TS-574-ITAT-2023(Mum)-TP
  • Tax Payer : Booking.Com India Support & Marketing Services Private Limited
Income tax Appellate Tribunal

ITAT: Directs ALP computation as per Rule 10CA, not 10B, given 4 surviving comparables

  • In Favour of Both, Partially
  • Citation Number : TS-575-ITAT-2023(PUN)-TP
  • Tax Payer : Rafiq Naik Exports Private Limited
High Court

HC: Liability, doubtful debt (linked to business) written back are operating income

  • In Favour of Assessee
  • Citation Number : TS-573-HC-2023(BOM)-TP
  • Tax Payer : Tetra Pak India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 271(1)(c) on TP adjustment absent evidence of concealment of income

  • In Favour of Assessee
  • Citation Number : TS-571-ITAT-2023(Mum)-TP
  • Tax Payer : Schindler India Private Limtied
Income tax Appellate Tribunal

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

  • In Favour of Assessee
  • Citation Number : TS-572-ITAT-2023(Mum)-TP
  • Tax Payer : Gammon India Ltd
Income tax Appellate Tribunal

ITAT: Accepts internal TNMM for benchmarking ITeS transaction; Directs 6% interest on receivables

  • In Favour of Assessee
  • Citation Number : TS-569-ITAT-2023(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Private Limited