Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Holds sale of 3.35% shares of United Spirits be subject to ALP determination; Reads 92A(2) "literally"

Feb 28, 2023
  • In Favour of Revenue
  • Citation Number : TS-117-ITAT-2023(Bang)-TP
  • Tax Payer : Palmer Investment Group Ltd
Income tax Appellate Tribunal

ITAT: Holds TPO order barred by limitation; Quashes draft order since assessee not an ‘eligible assessee’

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-116-ITAT-2023(Mum)-TP
  • Tax Payer : Atos India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua interest on loan given to 100% subsidiary; Follows earlier-order

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-115-ITAT-2023(DEL)-TP
  • Tax Payer : SRF Limited
Income tax Appellate Tribunal

ITAT: Cannot segregate SEB tariff into various components while computing ALP of sale of power

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-113-ITAT-2023(HYD)-TP
  • Tax Payer : Bharathi Cement Corporation Private Limited
Income tax Appellate Tribunal

ITAT: Holds draft order passed alongwith demand/penalty notices null & void, follows Perfetti

Feb 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-114-ITAT-2023(Kol)-TP
  • Tax Payer : Zydus Healthcare Limited (Successor to Zydus Healthcare Sikkim)
Income tax Appellate Tribunal

ITAT: Remits comparables for non-application of filters; Excludes 3 calling them giants in IT field

Feb 24, 2023
  • In Favour of Assessee
  • Citation Number : TS-109-ITAT-2023(Mum)-TP
  • Tax Payer : Minacs Private Limited (Formerly known as Aditya Birla Minacs Worldwide Limited)
Income tax Appellate Tribunal

ITAT: Excludes 4 applying upper-turnover filter; Restricts outstanding AE-receivables' interest at LIBOR+3.5%

Feb 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-110-ITAT-2023(Bang)-TP
  • Tax Payer : Deliverhealth Solutions India Pvt Ltd, (earlier known as Nuance Transcription Services Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed beyond one month of DRP direction; Follows precedent

Feb 24, 2023
  • In Favour of Assessee
  • Citation Number : TS-111-ITAT-2023(Bang)-TP
  • Tax Payer : ARM Embedded Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats duty drawback as operating, rules on comparables, allows working capital adjustment

Feb 24, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-112-ITAT-2023(Bang)-TP
  • Tax Payer : Kirloskar Toyota Textile Machinery Private Limited
Income tax Appellate Tribunal

ITAT: Rejects aggregate benchmarking under TNMM, directs AO to adopt customs valuation qua purchase transaction

Feb 23, 2023
  • In Favour of Assessee
  • Citation Number : TS-106-ITAT-2023(Bang)-TP
  • Tax Payer : AT India Auto Parts Private Limited
Income tax Appellate Tribunal

ITAT: Remits issue to decide denovo on nature of services rendered to AEs and non-AEs

Feb 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-107-ITAT-2023(HYD)-TP
  • Tax Payer : E.Centric Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Remits ALP determination for purchase of capital goods & finished goods, leaves MAM selection open

Feb 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-108-ITAT-2023(Mum)-TP
  • Tax Payer : Owens-Corning (India) Pvt Ltd [Formerly known as Owens Corning (India) Ltd]
Income tax Appellate Tribunal

ITAT: Excludes Titan, Tribhovandas Bhimji Zaveri as comparables for PNG Jewellers; Refuses separate SDT benchmarking

Feb 23, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-105-ITAT-2023(PUN)-TP
  • Tax Payer : P N Gadgil Jewellers Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua AMP expenditure; Follows precedent

Feb 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-100-ITAT-2023(Bang)-TP
  • Tax Payer : Acer India Private Limited
Income tax Appellate Tribunal

ITAT: Outstanding receivables exceeding 4 months no ground to exclude comparable; Remits adjustment w.r.t advisory services fee

Feb 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-101-ITAT-2023(PUN)-TP
  • Tax Payer : Emerson Climate Technologies (India) Limited
Income tax Appellate Tribunal

ITAT: Remits comparables' selection qua ITeS & MSS, directs DRP to adjudicate on merits

Feb 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-103-ITAT-2023(DEL)-TP
  • Tax Payer : Inter Continental Hotels Group (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes functionally different comparables under manufacturing segment

Feb 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-104-ITAT-2023(Bang)-TP
  • Tax Payer : Yokogawa India Limited
Supreme Court

SC: Dismisses Revenue-SLP against HC-order on comparables; Question of law on HC powers kept open

Feb 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-102-SC-2023-TP
  • Tax Payer : Evalueserve.com Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on ALP adjustment qua royalty payment, applies rule of consistency

Feb 21, 2023
  • In Favour of Assessee
  • Citation Number : TS-99-ITAT-2023(PUN)-TP
  • Tax Payer : MAN Energy Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: Directs TPO to provide assessee an opportunity to rebut comparables selected; Cites principles of natural justice

Feb 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-98-ITAT-2023(VIZ)-TP
  • Tax Payer : Quantum Clothing India Private Limited