Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Upholds LIBOR for benchmarking interest on outbound INR loans to AE; Follows Cotton Naturals

Feb 08, 2023
  • In Favour of Assessee
  • Citation Number : TS-62-ITAT-2023(VIZ)-TP
  • Tax Payer : 3F Industries Limited
Income tax Appellate Tribunal

ITAT: Deletes addition w.r.t guarantee commission; Follows precedents

Feb 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-59-ITAT-2023(Mum)-TP
  • Tax Payer : Capgemini S E, (Formerly known as Capgemini SA)
Income tax Appellate Tribunal

ITAT: Remits benchmarking exercise for interest on borrowings, placements and guarantee commission; Follows precedent

Feb 07, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-58-ITAT-2023(Mum)-TP
  • Tax Payer : Mizuho Bank Ltd
Income tax Appellate Tribunal

ITAT: Holds no international transaction for incurring AMP expenditure; Refrains from remitting the matter further

Feb 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-57-ITAT-2023(DEL)-TP
  • Tax Payer : Perfetti Van Melle India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants working-capital adjustment on actuals; Rules on comparables under Business-Support Services segment

Feb 07, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-60-ITAT-2023(Bang)-TP
  • Tax Payer : EIT Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside draft assessment order passed in name of merged, non-existent entity; Follows precedent

Feb 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-54-ITAT-2023(Mum)-TP
  • Tax Payer : India Medtronic Private Limited (Successor to Covidien Healthcare India - Private Limited)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua management fee payment, TPO did not adopt any prescribed method

Feb 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-53-ITAT-2023(PUN)-TP
  • Tax Payer : Franke Faber India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua payment of technical consultancy fee; Follows rulings in group concern's case

Feb 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-55-ITAT-2023(Mum)-TP
  • Tax Payer : Merck Specialities Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts Lenovo India's CUP as MAM for manufacturing segment, deletes AMP-adjustment

Feb 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-56-ITAT-2023(Bang)-TP
  • Tax Payer : Lenovo (India) Private Ltd
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s appeal on TP grounds as withdrawn in light of MAP resolution

Feb 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-51-ITAT-2023(Bang)-TP
  • Tax Payer : Northern Operating Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua payment of interest w.r.t purchase of ships, follows earlier order

Feb 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-929-ITAT-2022(Mum)-TP
  • Tax Payer : Ambuja Cement Limited (formerly Known as Gujarat Ambuja Cements Ltd)
Income tax Appellate Tribunal

ITAT: Adopts corporate guarantee commission rate of 0.5%; Directs compliance of DRP’s directions on outstanding receivables

Feb 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-52-ITAT-2023(HYD)-TP
  • Tax Payer : Vivimed Labs Ltd
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables in ITeS segment for Standard Chartered Finance Limited; Follows precedent

Feb 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-50-ITAT-2023(Mum)-TP
  • Tax Payer : Standard Chartered Finance Ltd
High Court

HC: Quashes draft order u/s.144C, holds grant of one day is virtually giving no time for hearing

Feb 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-49-HC-2023(GUJ)-TP
  • Tax Payer : Cadila Pharmaceuticals Limited
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s ALP determination qua license fee adopting CUP over Ambuja Cement’s TNMM

Jan 31, 2023
  • In Favour of Revenue
  • Citation Number : TS-928-ITAT-2022(Mum)-TP
  • Tax Payer : Ambuja Cement Limited (formerly Known as Gujarat Ambuja Cements Ltd)
Income tax Appellate Tribunal

ITAT: Dismisses Revenue's appeal; Upholds CIT(A)'s deletion of Sec.271G-penalty

Jan 31, 2023
  • In Favour of Assessee
  • Citation Number : TS-48-ITAT-2023(DEL)-TP
  • Tax Payer : Kindle Engineering & Construction Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables under marketing & support-service segment, upholds deletion of AMP adjustment

Jan 31, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-47-ITAT-2023(DEL)-TP
  • Tax Payer : Karl Storz Endoscopy India Pvt Ltd
High Court

HC: Admits appeal qua comparables-selection under ITES for Goldman Sachs; Frames 3 questions of law

Jan 31, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-46-HC-2023(BOM)-TP
  • Tax Payer : Goldman Sachs (India) Securities Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds validity of final assessment-order; Remits issue of technical service fee paid given pendency of APA

Jan 30, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-45-ITAT-2023(VIZ)-TP
  • Tax Payer : Teejay India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of adjustment towards sales/services rendered by assessee's head office

Jan 30, 2023
  • In Favour of Assessee
  • Citation Number : TS-44-ITAT-2023(DEL)-TP
  • Tax Payer : Lummus Technology Heat Transfer BV