Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Quashes assessment-order given no variation in income due to mere recharacterisation; 144C jurisdiction wrongful

Jan 05, 2023
  • In Favour of Assessee
  • Citation Number : TS-909-ITAT-2022(DEL)-TP
  • Tax Payer : Superbrands Ltd. (UK)
Income tax Appellate Tribunal

ITAT: Remits benchmarking of import of raw materials from third-party vendors under arrangement with AE

Jan 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-01-ITAT-2023(PUN)-TP
  • Tax Payer : Kimberly Clark Lever Private Limited
Income tax Appellate Tribunal

ITAT: Quashes TPO’s order, final assessment order being barred by limitation; Follows precedents

Jan 05, 2023
  • In Favour of Assessee
  • Citation Number : TS-910-ITAT-2022(Mum)-TP
  • Tax Payer : Mercator Ltd
Income tax Appellate Tribunal

ITAT: AMP expense not an international transaction, Deletes adjustment, Follows earlier order

Jan 05, 2023
  • In Favour of Assessee
  • Citation Number : TS-911-ITAT-2022(Mum)-TP
  • Tax Payer : Mattel Toys (India) P Ltd
Income tax Appellate Tribunal

ITAT: Dismisses revenue’s appeal qua TP-adjustment w.r.t. corporate guarantee fee and SDTs; Follows precedents

Jan 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-905-ITAT-2022(Kol)-TP
  • Tax Payer : Electrosteel Castings Ltd
Income tax Appellate Tribunal

ITAT: Remits benchmarking interest on NCDs; Directs AO/TPO to prefer internal comparables, verify currency denomination

Jan 04, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-906-ITAT-2022(Bang)-TP
  • Tax Payer : Dans Energy Private Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables whose turnover exceeded 200Cr & which were erroneously included in OGE

Jan 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-907-ITAT-2022(Bang)-TP
  • Tax Payer : CME India & Technology Support Services Pvt Ltd
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