Rulings ( 11519 results )

Filters
High Court

HC: Holds TPO’s order barred by limitation, dismisses Revenue's writ appeals

Dec 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-876-HC-2022(MAD)-TP
  • Tax Payer : Saint Gobain India Private Limited
Income tax Appellate Tribunal

ITAT: Holds no imputation of interest on overdue receivables under TNMM, fixes guarantee commission @0.5%

Dec 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-873-ITAT-2022(VIZ)-TP
  • Tax Payer : Devi Sea Foods Limited
Income tax Appellate Tribunal

ITAT: Confirms DRP’s inclusion of comparables having turnover between Rs. 200-2000 cr for medium-sized company

Dec 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-872-ITAT-2022(Bang)-TP
  • Tax Payer : Harman Connected Services Corporation India Pvt Ltd (Formerly Symphony Teleca Corporation (India) Private Ltd)
Income tax Appellate Tribunal

ITAT: Remits plea qua inclusion/exclusion of comparables for SWD service provider

Dec 20, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-870-ITAT-2022(HYD)-TP
  • Tax Payer : Wissen Infotech Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment wrt fees received for marketing of FIPs by Indian branch of UBS AG

Dec 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-871-ITAT-2022(Mum)-TP
  • Tax Payer : UBS AG
Income tax Appellate Tribunal

ITAT: Upholds exclusion of persistently loss-making company, rules on adjustments qua working capital, capacity, depreciation

Dec 19, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-867-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motors Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes DRP’s direction setting aside issues to AO; Terms it contrary to Sec 144C(8)

Dec 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-869-ITAT-2022(PUN)-TP
  • Tax Payer : LIEBHERR CMC Tech India Private Limited
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