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Income tax Appellate Tribunal

ITAT: Restores TP-adjustments qua interest, SBI base-rate not comparable as bankers don't provide loans to JVs

Dec 05, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-835-ITAT-2022(DEL)-TP
  • Tax Payer : BSC C&C JV
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment to AE-transactions, deletes SDT related adjustment; Follows Thyssen Krupp, Edelweiss Rural decisions

Dec 05, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-836-ITAT-2022(Mum)-TP
  • Tax Payer : ALA Chemicals Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds TPO order barred by limitation, Expressions in statutes cannot be substituted by CBDT Circulars

Dec 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-832-ITAT-2022(Mum)-TP
  • Tax Payer : Mondelez India Foods Private Limited
Income tax Appellate Tribunal

ITAT: Recharacterization of CCDs impermissible; Royalty payment @ 4% on sale at arm’s length

Dec 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-828-ITAT-2022(Bang)-TP
  • Tax Payer : Praxier India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 7 comparables citing high turnover, remits working capital adjustment for SWD service provider

Dec 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-829-ITAT-2022(Bang)-TP
  • Tax Payer : Tyco Fire and Security India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment made towards FCD interest; Interest "paid" does not extend to "payable"

Dec 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-830-ITAT-2022(DEL)-TP
  • Tax Payer : Mondon Investments Ltd
Income tax Appellate Tribunal

ITAT: Grants 40% adjustment qua J.M. Morgan Stanley Securities’ brokerage-commission; Follows earlier order

Dec 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-831-ITAT-2022(Mum)-TP
  • Tax Payer : J M Morgan Stanley Securities Pvt Ltd (Now known as Morgan Stanley India Company Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Excludes 7 comparables having high turnover; Remits 12 for considering available data

Dec 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-822-ITAT-2022(Bang)-TP
  • Tax Payer : Sapa Extrusion India Private Limited
Income tax Appellate Tribunal

ITAT: Directs use of internal comparables, Upholds delayed AE-receivables as international transaction; Follows precedent

Dec 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-826-ITAT-2022(Bang)-TP
  • Tax Payer : Sami-Sabinsa Group Limited
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for benchmarking import of finished goods; Follows precedent

Dec 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-827-ITAT-2022(Mum)-TP
  • Tax Payer : Torrecid India Private Limited
Income tax Appellate Tribunal

ITAT: Holds TPO’s order as barred by limitation, akin to Pfizer Healthcare ruling; Quashes final order

Dec 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-825-ITAT-2022(CHNY)-TP
  • Tax Payer : Verizon Data Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects CCDs’ recharacterization as equity; Remits ALP computation for interest

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-824-ITAT-2022(Bang)-TP
  • Tax Payer : CAE Flight Training (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 11 comparables citing high turnover, deletes AMP-adjustment for Motorola Mobility India

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-820-ITAT-2022(Bang)-TP
  • Tax Payer : Motorola Mobility India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds interest payment at 9%/12% on CCDs; Accepts assessee’s payment of royalty at ALP

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-819-ITAT-2022(Bang)-TP
  • Tax Payer : Praxair India Private Limited
Income tax Appellate Tribunal

ITAT: Adopts corporate guarantee commission at 0.5% over 1.15%; Follows earlier order

Nov 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-821-ITAT-2022(DEL)-TP
  • Tax Payer : Havells India Ltd
Income tax Appellate Tribunal

ITAT: Applies upper turnover filter, holds purchase of AE's shares under ESOP not operating cost

Nov 30, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-823-ITAT-2022(Bang)-TP
  • Tax Payer : Radisys India Limited (formerly known as Radisys India Private Limited)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua receipt of counter guarantee commission, follows earlier orders

Nov 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-815-ITAT-2022(DEL)-TP
  • Tax Payer : MUFG Bank Ltd
Income tax Appellate Tribunal

ITAT: AO/TPO to re-examine whether SWD, EDS services closely linked with primary manufacturing activity

Nov 29, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-816-ITAT-2022(Bang)-TP
  • Tax Payer : Autoliv India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination w.r.t interest on delayed receivables; Proper benchmarking study to be followed

Nov 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-817-ITAT-2022(Bang)-TP
  • Tax Payer : Safran Engineering Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds NIL ALP for management service fees, Assessee fails to prove rendition via evidence

Nov 29, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-818-ITAT-2022(CHNY)-TP
  • Tax Payer : AB Mauri India Pvt Ltd