Rulings ( 11343 results )

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Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment for Shilpa Shetty providing free brand ambassadorship to Rajasthan Royals; Follows earlier-order

Aug 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-543-ITAT-2022(Mum)-TP
  • Tax Payer : Shilpa Shetty
Income tax Appellate Tribunal

ITAT: Outstanding receivables to be considered with primary SWD services transaction, grants 90-day credit period

Aug 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-542-ITAT-2022(Bang)-TP
  • Tax Payer : Xchanging Solutions Ltd
Income tax Appellate Tribunal

ITAT: TPO having determined NIL ALP, refuses alternate plea to allow advertisement expense as business expense

Aug 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-540-ITAT-2022(CHNY)-TP
  • Tax Payer : Titan Company Ltd (earlier Titan Industries Ltd)
Income tax Appellate Tribunal

ITAT: Remits issue of NIL ALP determination qua HR services, follows earlier order

Aug 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-539-ITAT-2022(Bang)-TP
  • Tax Payer : Mersen India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment w.r.t purchase of coal; Fixes corporate-guarantee commission at 0.17%

Aug 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-541-ITAT-2022(Ahd)-TP
  • Tax Payer : Adani Enterprises Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustment qua cost contribution charges, remits issue of recharacterizing EDS segment as KPO

Aug 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-534-ITAT-2022(Bang)-TP
  • Tax Payer : Ingersoll-Rand Technologies and Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds corporate guarantee as international transaction, fixes commission @ 0.5%; Follows precedents

Aug 19, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-535-ITAT-2022(CHNY)-TP
  • Tax Payer : Siva Industries & Holdings Ltd (Formerly known as Sterling Infotech Ltd)
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua inter-unit transfer of electricity / steam, accepts SEB-rate as market price

Aug 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-536-ITAT-2022(CHANDI)-TP
  • Tax Payer : Vardhman Textiles Limited
Income tax Appellate Tribunal

ITAT: Holds AO violated Sec 92CC(3) by not considering APA while passing final assessment order

Aug 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-537-ITAT-2022(Mum)-TP
  • Tax Payer : Ploycom Technology (R&D) Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Cannot cherrypick, adopt 2 methods for benchmarking same class of transactions; Upholds TNMM over CUP

Aug 19, 2022
  • In Favour of Assessee
  • Citation Number : TS-538-ITAT-2022(CHNY)-TP
  • Tax Payer : Madura Coats Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs AO to rectify mistake and delete TP adjustment being covered by APA

Aug 18, 2022
  • In Favour of Assessee
  • Citation Number : TS-530-ITAT-2022(Bang)-TP
  • Tax Payer : Novo Nordisk India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Nike's AMP spend not international transaction, confirms adjustments qua expense reimbursement / royalty; Follows precedent

Aug 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-531-ITAT-2022(Bang)-TP
  • Tax Payer : Nike India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on adjustments qua interest on loans, corporate guarantee fee, profit share; Follows earlier orders

Aug 18, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-532-ITAT-2022(HYD)-TP
  • Tax Payer : Dr. Reddy’s Laboratories Limited
Income tax Appellate Tribunal

ITAT: Permits Microsoft to withdraw appeal grounds qua TP adjustment considering MAP resolution

Aug 18, 2022
  • In Favour of None/NA
  • Citation Number : TS-533-ITAT-2022(DEL)-TP
  • Tax Payer : Microsoft India (R&D) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TNMM as MAM for processing fees for local guarantees for ANZ; Follows precedent

Aug 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-527-ITAT-2022(Mum)-TP
  • Tax Payer : Australia and New Zealand Banking Group Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables citing acquisition, high brand value etc; Treats forex gain as operating

Aug 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-528-ITAT-2022(HYD)-TP
  • Tax Payer : S&P Capital IQ (India) Private Limited, (Successor in interest of SNL Financial (India) Private Limited)
Income tax Appellate Tribunal

ITAT: Remits TP adjustment, TPO/DRP incorrectly understood assessee's business model of rendering MVAS/SWD

Aug 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-529-ITAT-2022(Bang)-TP
  • Tax Payer : OnMobile Global Ltd
Income tax Appellate Tribunal

ITAT: Refuses to consider credit-period agreed between assessee & AE while benchmarking delayed receivables/interest

Aug 17, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-526-ITAT-2022(Bang)-TP
  • Tax Payer : Nuance Transcription Services India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Excludes 3, Includes 1 as comparable for R&D services provider; Rules on +/-5 tolerance range

Aug 16, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-523-ITAT-2022(Mum)-TP
  • Tax Payer : Mylan Pharmaceuticals Private Limited
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)’s deletion of TP-adjustment on corporate guarantee; Applies rule of consistency

Aug 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-524-ITAT-2022(Mum)-TP
  • Tax Payer : Zee Entertainment Enterprises Ltd