Rulings ( 11332 results )

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Income tax Appellate Tribunal

ITAT: Rules on comparables qua ITeS provider; Follows precedent

Jan 04, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-908-ITAT-2022(Bang)-TP
  • Tax Payer : TE Connectivity Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua purchase of commercial right from AE, allows depreciation thereon

Jan 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-1273-ITAT-2020(Mum)-TP
  • Tax Payer : WNS Global Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: No AMP-adjustment required when TPO accepts assessee’s gross and net margins; Rules on comparables

Jan 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-902-ITAT-2022(Bang)-TP
  • Tax Payer : Epson India Private Limited
Income tax Appellate Tribunal

ITAT: Directs TPO to determine ALP under manufacturing segment in light of internal comparables

Jan 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-903-ITAT-2022(PUN)-TP
  • Tax Payer : Eaton Fluid Power Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustments for reimbursement of out of pocket expenses and software maintenance expenses; Follows earlier order

Jan 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-904-ITAT-2022(Mum)-TP
  • Tax Payer : Infinity Retail Limited
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM, remits interest adjustment on AE-loan following precedent

Jan 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-900-ITAT-2022(DEL)-TP
  • Tax Payer : BG Exploration & Production India Ltd
High Court

HC: Dismisses Revenue’s appeal against ITAT-decision approving overhead expense allocation by JV members to assessee-AOP

Jan 02, 2023
  • In Favour of Revenue
  • Citation Number : TS-901-HC-2022(BOM)-TP
  • Tax Payer : International Metro Civil Contractors
Income tax Appellate Tribunal

ITAT: Rejects Revenue's DCF method for valuing share sale given uncertain income/future cash-flow projections

Jan 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-899-ITAT-2022(Mum)-TP
  • Tax Payer : Aaradhana Realties Limited (earlier known as Essar Investment Limited)
Income tax Appellate Tribunal

ITAT: Rules on comparables in ITES and IT Software services segments; Remits working capital and risk adjustments

Dec 30, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-1146-ITAT-2017(Mum)-TP
  • Tax Payer : Accenture Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts interest @ LIBOR+300 bps for AE-loans, remits ALP-determination qua sale of finished goods

Dec 30, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-897-ITAT-2022(Mum)-TP
  • Tax Payer : Roha Dyechem Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds write-back of provision for doubtful debts as part of operating income; Follows precedents

Dec 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-898-ITAT-2022(Mum)-TP
  • Tax Payer : Swiss Re Services India Private Ltd
Income tax Appellate Tribunal

ITAT: TPO’s comparability under CUP does not satisfy the requirement of law for its applicability; Remits issue

Dec 29, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-896-ITAT-2022(Mum)-TP
  • Tax Payer : Abott India Limited
Income tax Appellate Tribunal

ITAT: Rejects recharacterization of OFCD as loan; Benchmarks corporate guarantee at 0.50%

Dec 29, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-895-ITAT-2022(CHNY)-TP
  • Tax Payer : Siva Industries and Holdings Limited
Supreme Court

SC: Dismisses assessee’s SLP against HC-order confirming ITAT's remand of corporate-guarantee commission

Dec 29, 2022
  • In Favour of Revenue
  • Citation Number : TS-893-SC-2022-TP
  • Tax Payer : Jubilant Pharmova Ltd
High Court

HC: Dismisses assessee’s appeal against ITAT order remitting corporate-guarantee commission issue

Dec 29, 2022
  • In Favour of Revenue
  • Citation Number : TS-894-HC-2022(ALL)-TP
  • Tax Payer : Jubilant Pharmova Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables, upholds TNMM over CUP as MAM for benchmarking service charge payment

Dec 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-891-ITAT-2022(Mum)-TP
  • Tax Payer : Hannover Milano Fairs India Private Limited
Income tax Appellate Tribunal

ITAT: Restricts corporate-guarantee fee @0.5%; Upholds CUP as MAM for exports, refuses 'discount' adjustment

Dec 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-892-ITAT-2022(PUN)-TP
  • Tax Payer : Jain Irrigation Systems Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for coordination of clinical trial segment and recovery of expenses; Follows precedents

Dec 27, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-888-ITAT-2022(Bang)-TP
  • Tax Payer : Astra Zeneca Pharma India Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee's government-approved valuer report qua purchase of machinery, directs aggregate benchmarking

Dec 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-889-ITAT-2022(Mum)-TP
  • Tax Payer : Tessitura Monti India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds need-benefit-rendition tests qua IGS to be established every year; Earlier orders not determinative

Dec 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-890-ITAT-2022(Mum)-TP
  • Tax Payer : Lintas India Private Limited