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Income tax Appellate Tribunal

ITAT: Remits TP-adjustments qua distribution & SWD segments, royalty payment; Follows earlier order

Mar 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-176-ITAT-2023(Bang)-TP
  • Tax Payer : Wipro GE Healthcare Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment of Rs.125 crores for HP India Sales; Follows earlier order

Mar 23, 2023
  • In Favour of Assessee
  • Citation Number : TS-932-ITAT-2022(Bang)-TP
  • Tax Payer : HP India Sales Private Ltd
Income tax Appellate Tribunal

ITAT: Remits issues on margin computation, comparables selection issue, working capital adjustment; Follows earlier order

Mar 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-172-ITAT-2023(Bang)-TP
  • Tax Payer : Schneider Electric IT Business India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside issue of comparability for fresh consideration under SDS segment; Follows precedent

Mar 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-173-ITAT-2023(Bang)-TP
  • Tax Payer : Autodesk India Pvt Ltd
Supreme Court

SC: Dismisses Revenue’s SLP; Confirms HC order remanding matter for fresh search of comparables

Mar 23, 2023
  • In Favour of Assessee
  • Citation Number : TS-174-SC-2023-TP
  • Tax Payer : Gap International Sourcing India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP adjustment w.r.t payment of IT and management support charges, follows earlier order

Mar 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-169-ITAT-2023(Bang)-TP
  • Tax Payer : Brady Company India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects re-characterisation of CCDs as equity; Remits matter for determination of ALP interest at SBI PLR

Mar 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-170-ITAT-2023(Bang)-TP
  • Tax Payer : CAE Flight Training (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment, variation between TPO's ALP and transaction price less than 3%

Mar 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-171-ITAT-2023(Kol)-TP
  • Tax Payer : Zacks Research Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment, allows working capital adjustment for Lenovo India

Mar 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-167-ITAT-2023(Bang)-TP
  • Tax Payer : Lenovo India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua cost contribution charges for centralized services

Mar 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-168-ITAT-2023(Bang)-TP
  • Tax Payer : Ingersoll-Rand Technologies and Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs TP-adjustment qua interest on outstanding loan at LIBOR + 300 in an ex-parte order

Mar 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-164-ITAT-2023(Mum)-TP
  • Tax Payer : Dinshaw Trapinex Builders Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua management fees, cost allocation charges; Follows earlier orders

Mar 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-165-ITAT-2023(Mum)-TP
  • Tax Payer : HSBC Asset Management (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes notional interest on share application money; Adopts USD LIBOR as ALP interest on outstanding guarantee commission

Mar 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-166-ITAT-2023(VIZ)-TP
  • Tax Payer : GVK Power & Infrastructure Ltd
Income tax Appellate Tribunal

ITAT: Upholds customs data to be more reliable under CUP; Relies on precedents and OECD commentary

Mar 20, 2023
  • In Favour of Revenue
  • Citation Number : TS-163-ITAT-2023(DEL)-TP
  • Tax Payer : Louis Dreyfus Company India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restricts TP adjustment on guarantee commission @ 0.5%; Upholds TP adjustment qua interest on inter-corporate deposits

Mar 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-160-ITAT-2023(Mum)-TP
  • Tax Payer : Hindustan Construction Co Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment made for a single month; Confirms assessee’s higher ALP owing to quality difference

Mar 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-161-ITAT-2023(Ahd)-TP
  • Tax Payer : H K Ispat Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment absent Revenue’s appeal against earlier year’s order; Remits claim for enhanced deduction u/s 80IA

Mar 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-162-ITAT-2023(DEL)-TP
  • Tax Payer : DCM Shriram Industries Ltd
Income tax Appellate Tribunal

ITAT: Holds assessment void-ab-initio absent valid reference to TPO

Mar 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-159-ITAT-2023(PUN)-TP
  • Tax Payer : Fiat India Automobiles Private Limited
Income tax Appellate Tribunal

ITAT: Rejects TPO’s disallowance of 6% of royalty for bundled rights and services; Remits matter for fresh consideration

Mar 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-157-ITAT-2023(DEL)-TP
  • Tax Payer : Marks & Spencer (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment citing TPO’s order was barred by limitation; Follows precedents

Mar 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-156-ITAT-2023(Mum)-TP
  • Tax Payer : Credit Suisse AG (as a successor of Credit Suisse (International Holdings AG)