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Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua interest on outstanding receivables; Adjustment only if not subsumed in WCA

Nov 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-795-ITAT-2022(Bang)-TP
  • Tax Payer : AB INBEV GCC Services India Pvt Ltd (earlier known as GCC Services India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Remits inclusion of service tax refund in operating income, rules on comparables qua ITeS

Nov 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-796-ITAT-2022(Bang)-TP
  • Tax Payer : Global e-Business Operations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 11 comparables with turnover exceeding 200Cr for SWD service provider

Nov 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-790-ITAT-2022(Bang)-TP
  • Tax Payer : MWYN Tech Private Ltd
Income tax Appellate Tribunal

ITAT: Holds transactions with related and unrelated parties cannot be clubbed for benchmarking; Upholds DRP’s views

Nov 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-791-ITAT-2022(DEL)-TP
  • Tax Payer : Marubeni India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits adjustments qua marketing & business support services segment & warranty expenses, follows earlier order

Nov 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-792-ITAT-2022(Bang)-TP
  • Tax Payer : Dell International Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Refuses characterisation of CCDs as equity; Directs Sec 94B disallowance qua interest on CCDs

Nov 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-789-ITAT-2022(Bang)-TP
  • Tax Payer : Summit Developments Private Limited
Income tax Appellate Tribunal

ITAT: Holds payment for admin support services part of operating cost, separate adjustment unwarranted; Follows precedent

Nov 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-785-ITAT-2022(Bang)-TP
  • Tax Payer : Cisco Systems Capital (India) Pvt.Ltd.
High Court

HC: Dismisses Revenue’s appeal on AMP adjustment sans substantial question of law; Follows Sony Ericsson

Nov 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-786-HC-2022(DEL)-TP
  • Tax Payer : Moet Hennessy India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in SWD and ITeS segments, Directs no negative working capital adjustment

Nov 17, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-787-ITAT-2022(Bang)-TP
  • Tax Payer : Dell International Services India Private Limited
Income tax Appellate Tribunal

ITAT: Directs 0.50% adjustment for corporate guarantee on closing/ outstanding balance; Follows precedents

Nov 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-788-ITAT-2022(Bang)-TP
  • Tax Payer : Sasken Technologies Ltd
Income tax Appellate Tribunal

ITAT: Remits AMP adjustment qua IBM India to verify if expenses factored in net cost

Nov 16, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-781-ITAT-2022(Bang)-TP
  • Tax Payer : IBM India Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal on comparables-selection absent substantial question of law

Nov 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-782-HC-2022(DEL)-TP
  • Tax Payer : Bechtel India P Ltd
Income tax Appellate Tribunal

ITAT: Directs adoption of interest rate at LIBOR + 3%, considers credit period as agreed between AE and assessee

Nov 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-783-ITAT-2022(Bang)-TP
  • Tax Payer : International Aerospace Manufacturing Private Ltd
Income tax Appellate Tribunal

ITAT: Observes, cannot term services as ITES only because they're rendered using IT medium

Nov 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-784-ITAT-2022(Bang)-TP
  • Tax Payer : Dell International Services India Private Ltd
Income tax Appellate Tribunal

ITAT: Accepts Anchor Electricals' plea w.r.t royalty for technical know-how; Directs AO to modify erroneous TP-adjustment

Nov 15, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-778-ITAT-2022(Mum)-TP
  • Tax Payer : Anchor Electricals Private Limited
Income tax Appellate Tribunal

ITAT: Adopts corporate guarantee commission at 0.5%, follows earlier order

Nov 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-779-ITAT-2022(PUN)-TP
  • Tax Payer : Varroc Engineering Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds LIBOR not always the rate for intra-bank transactions; Deletes adjustment of interest paid on FCBs

Nov 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-780-ITAT-2022(Mum)-TP
  • Tax Payer : Shinhan Bank
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua cement export, interest w.r.t ship-financing in case of Ambuja Cements

Nov 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-777-ITAT-2022(Mum)-TP
  • Tax Payer : Ambuja Cement Limited (formerly Known as Gujarat Ambuja Cements Ltd)
Income tax Appellate Tribunal

ITAT: Excludes comparables citing extraordinary event of acquisition, amalgamation etc; Remits margin-computation

Nov 14, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-776-ITAT-2022(PUN)-TP
  • Tax Payer : Velocity Tech-Sol India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment made via invalid order not containing DIN; No provision for substitution of order

Nov 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-775-ITAT-2022(Bang)-TP
  • Tax Payer : Intrado EC India Private Ltd (formerly West Unified Communications India Pvt Ltd]