Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Remits issue pertaining to disallowance of 5% markup for purchase of fixed assets

Mar 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2023(DEL)-TP
  • Tax Payer : AVL Technical Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs compliance of DRP’s directions ‘in letter and spirit’; Remits comparables for fresh examination

Mar 15, 2023
  • In Favour of Assessee
  • Citation Number : TS-153-ITAT-2023(HYD)-TP
  • Tax Payer : Cotiviti India Private Limited (merged entity of Care Management International (P) Ltd)
Income tax Appellate Tribunal

ITAT: Rules on comparables and allowability of 60 days’ credit period; Follows precedent

Mar 15, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-154-ITAT-2023(HYD)-TP
  • Tax Payer : Quislex Legal Services Private Limited
Income tax Appellate Tribunal

ITAT: Upholds assessee’s TNMM as MAM for exports and royalty, CUP for interest on ECB; Follows earlier order

Mar 15, 2023
  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2023(Mum)-TP
  • Tax Payer : Firmenich Aromatics Production (India) Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables qua SWD segment; Allows assessee’s plea w.r.t receipt of intra-group services

Mar 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-149-ITAT-2023(Bang)-TP
  • Tax Payer : UXC India IT Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Applies upper turnover filter in SWD, ITeS segments; Adopts LIBOR+2% on outstanding receivables

Mar 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-150-ITAT-2023(Bang)-TP
  • Tax Payer : Marlabs Innovations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds forex gain/loss as operating expense; Rejects functionally different comparables

Mar 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-151-ITAT-2023(Bang)-TP
  • Tax Payer : Subex Limited
Income tax Appellate Tribunal

ITAT: Rectifies earlier order; Allows credit period and interest above 60 days period

Mar 14, 2023
  • In Favour of Revenue
  • Citation Number : TS-152-ITAT-2023(HYD)-TP
  • Tax Payer : Quislex Legal Services P Ltd
High Court

HC: Dismisses assessee’s writ petition against assessment order; Notes merger with another Company

Mar 14, 2023
  • In Favour of Revenue
  • Citation Number : TS-931-HC-2022(TEL)-TP
  • Tax Payer : Cordys R&D India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP adjustment qua segmental margins under manufacturing segment

Mar 13, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-146-ITAT-2023(Bang)-TP
  • Tax Payer : Makino India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds foreign currency loss inter-linked to sales as operating expense for PLI computation

Mar 13, 2023
  • In Favour of Revenue
  • Citation Number : TS-147-ITAT-2023(Mum)-TP
  • Tax Payer : Phoenix Comtrade Private Limited
Income tax Appellate Tribunal

ITAT: Upholds royalty payment of 4% at ALP; Follows precedents

Mar 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-148-ITAT-2023(Bang)-TP
  • Tax Payer : Praxair India Private Limited
High Court

HC: Holds passing final order before draft order not curable mistake u/s 292B; Dismisses Revenue’s appeals

Mar 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-145-HC-2023(KAR)-TP
  • Tax Payer : Cisco Systems Services B.V.
Income tax Appellate Tribunal

ITAT: Holds corporate-guarantee as international transaction, determines ALP @ 0.50%; Applies rule of consistency

Mar 10, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-143-ITAT-2023(VIZ)-TP
  • Tax Payer : 3F Industries Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables qua engineering services / MSS for functional dissimilarity, failing RPT filter etc

Mar 10, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-144-ITAT-2023(DEL)-TP
  • Tax Payer : UOP India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables for functional dissimilarity, failing R&D filter; Adopts GP/Sales as PLI, follows precedent

Mar 09, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-140-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Industries Engine India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts ALP for corporate guarantee fee @ 0.50% and rejects interest saved approach; Follows precedents

Mar 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2023(Kol)-TP
  • Tax Payer : Karam Chand Thapar & Bros. Coal Sales Limited
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua reimbursement of expenses from AE; Follows earlier order

Mar 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-142-ITAT-2023(Mum)-TP
  • Tax Payer : Ness Digital Engineering (India) Pvt Ltd (Formerly known as Ness Technologies (India) Pvt Ltd)
High Court

HC: Quashes TPO’s order that was time barred u/s 92CA(3A) by 1 day

Mar 08, 2023
  • In Favour of Assessee
  • Citation Number : TS-136-HC-2023(MAD)-TP
  • Tax Payer : Sensiple Software Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustments qua depreciation, working capital, tolerance range issue, comparables selection

Mar 08, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-139-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Tsusho India Pvt. Ltd