Rulings ( 11332 results )

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Income tax Appellate Tribunal

ITAT: Deletes ALP adjustment qua corporate guarantee commission, follows jurisdictional HC

Dec 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-868-ITAT-2022(Mum)-TP
  • Tax Payer : Everest Kanto Cylinder Ltd
Income tax Appellate Tribunal

ITAT: Holds 'arithmetic mean' u/s 92C(2) proviso doesn't include weighted average, deviates from earlier order

Dec 19, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-866-ITAT-2022(Mum)-TP
  • Tax Payer : Morgan Stanley India Company Private Limited
Income tax Appellate Tribunal

ITAT: Upholds 6% as ALP interest-rate on AE-receivables in case of Infosys; Follows earlier-order

Dec 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-864-ITAT-2022(Bang)-TP
  • Tax Payer : Infosys Ltd
Income tax Appellate Tribunal

ITAT: Overdue export receivables an international transaction; Deletes notional interest

Dec 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-865-ITAT-2022(Mum)-TP
  • Tax Payer : S Vinodkumar Diamonds Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds share application money as loan to AE, FCCB interest paid plus 1% markup as ALP interest

Dec 16, 2022
  • In Favour of None/NA
  • Citation Number : TS-863-ITAT-2022(Mum)-TP
  • Tax Payer : Prime Focus Ltd
Income tax Appellate Tribunal

ITAT: Allows Sec 10AA deduction, refuses Revenue's claim of extraordinary profits; Follows earlier order

Dec 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-860-ITAT-2022(PUN)-TP
  • Tax Payer : Eaton Technologies Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal; ITAT order quashing AO's jurisdiction due to transfer of office not illegal

Dec 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-861-HC-2022(BOM)-TP
  • Tax Payer : Capstone Securities Analysis Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s adoption of 6% as interest on AE-receivables

Dec 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-862-ITAT-2022(Bang)-TP
  • Tax Payer : Infosys Ltd
Income tax Appellate Tribunal

ITAT: Grants working capital adjustment qua Design Engineering services segment, follows earlier order

Dec 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-857-ITAT-2022(Bang)-TP
  • Tax Payer : Inteva Products India Automotive Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds interest on AE-loan at arm's length, restricts guarantee fee @0.5%, remits royalty issue

Dec 14, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-858-ITAT-2022(Bang)-TP
  • Tax Payer : Sasken Technologies Ltd, (Formerly known as Sasken Communication Technologies Ltd)
Income tax Appellate Tribunal

ITAT: Accepts Internal TNMM for benchmarking export sales; Directs consistent method application

Dec 14, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-859-ITAT-2022(Mum)-TP
  • Tax Payer : Lanxess India Private Ltd.
Income tax Appellate Tribunal

ITAT: Rejects Foreign-AE as tested party; Upholds benchmarking for Reimbursement, Rejects CUP for Data Management

Dec 14, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-856-ITAT-2022(Ahd)-TP
  • Tax Payer : Schneider Electric Infrastructure Limited
Income tax Appellate Tribunal

ITAT: Excludes functionally dissimilar comparables; Refuses exclusion on 'high-margin' basis but directs verification of functional similarity

Dec 13, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-853-ITAT-2022(Bang)-TP
  • Tax Payer : Subex Ltd
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment qua purchase of raw material taking CUP as MAM; Follows precedent

Dec 13, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-854-ITAT-2022(Mum)-TP
  • Tax Payer : Merk Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua outstanding AE-receivables for consideration of MSA, credit period allowed etc

Dec 13, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-855-ITAT-2022(Bang)-TP
  • Tax Payer : Huawei Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment sans existence of arrangement between assessee & AE, follows earlier order

Dec 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-849-ITAT-2022(Bang)-TP
  • Tax Payer : HP India Sales Private Ltd
High Court

HC: Dismisses Revenue’s appeal qua AMP adjustment; Subjects the matter to SC’s final decision

Dec 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-850-HC-2022(DEL)-TP
  • Tax Payer : Xerox India Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables qua ITeS provider, directs TPO to consider interest @LIBOR+3% on delayed receivables

Dec 12, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-851-ITAT-2022(CHNY)-TP
  • Tax Payer : Excellence Data Research Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds final assessment-order barred by limitation, not passed as per Sec 144C time-limit

Dec 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-852-ITAT-2022(Bang)-TP
  • Tax Payer : Altran Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts plea of inadvertent mistake and no loss to revenue; Deletes penalty levied by TPO

Dec 09, 2022
  • In Favour of Assessee
  • Citation Number : TS-847-ITAT-2022(DEL)-TP
  • Tax Payer : ATEPL Rahee Joint Venture