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Income tax Appellate Tribunal

ITAT: Rules on comparables in SWD segment; Adjudicates on working capital adjustment and margin computation

Aug 08, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-506-ITAT-2022(Bang)-TP
  • Tax Payer : SAP Labs India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables with high turnover; Remits issues qua notional interest, forex loss treatment

Aug 08, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-507-ITAT-2022(Bang)-TP
  • Tax Payer : Quicklogic Software (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows working-capital adjustment, remits margin computation plea for SWD services provider

Aug 05, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-501-ITAT-2022(Bang)-TP
  • Tax Payer : Airlinq Technology Pvt Ltd (Formerly known as Globe Touch Technologies Private Limited)
Income tax Appellate Tribunal

ITAT: Disapproves use of benefit test for intra-group services; Remits ALP determination

Aug 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-502-ITAT-2022(PUN)-TP
  • Tax Payer : A Raymond Fasteners India Private Limited
Income tax Appellate Tribunal

ITAT: Holds AO cannot reject assessee's segmental accounts without showing defect

Aug 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-503-ITAT-2022(DEL)-TP
  • Tax Payer : SMA Nutrition India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment-order passed without adherence to Sec.144C; Follows precedents

Aug 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-498-ITAT-2022(HYD)-TP
  • Tax Payer : Hyundai Motor India Engineering Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables in ITeS segment, treats forex gain as part of operating revenue

Aug 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-497-ITAT-2022(PUN)-TP
  • Tax Payer : Transperfect Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 2 comparables citing trading revenue difference / merger; Restricts adjustment to international transactions

Aug 04, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-499-ITAT-2022(PUN)-TP
  • Tax Payer : Franke Faber India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua technical know-how fees, mark-up on expenses recovery; Follows precedent

Aug 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-500-ITAT-2022(Mum)-TP
  • Tax Payer : UPS Express Private Ltd (Formerly known as UPS Jetair Express Private Ltd)
Income tax Appellate Tribunal

ITAT: Notes insufficient proof of intra-group service, Remits for determination on rendition and MAM to benchmark mark-up

Aug 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-496-ITAT-2022(Mum)-TP
  • Tax Payer : Interactive Brokers (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 4 companies being functionally-dissimilar to LG Soft India; Allows working-capital adjustment

Aug 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-492-ITAT-2022(Bang)-TP
  • Tax Payer : LG Soft India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Treats forex loss as non-operating in nature, Follows precedents

Aug 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-494-ITAT-2022(HYD)-TP
  • Tax Payer : Proseed India Limited, (Formerly Green Fire Agri Commodities Limited)
High Court

HC: Dismisses Revenue's appeal against exclusion of comparable failing export service/diminishing revenue filters

Aug 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-495-HC-2022(DEL)-TP
  • Tax Payer : Convvergys India Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts LIBOR+2% as ALP interest on delayed-receivables; Separate adjustment for admin support services unwarranted

Aug 03, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-493-ITAT-2022(Bang)-TP
  • Tax Payer : Cisco Systems Capital (India) Private Limited
Income tax Appellate Tribunal

ITAT: Holds corporate guarantee as international transaction, fixes commission @ 0.35%

Aug 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-491-ITAT-2022(Kol)-TP
  • Tax Payer : Berger Paints India Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on TP-adjustment qua AMP expenses, management services and royalty; Follows precedents

Aug 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-488-ITAT-2022(DEL)-TP
  • Tax Payer : Tupperware India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua management-support services; Necessary for smooth functioning of freight and forwarding business

Aug 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-490-ITAT-2022(Kol)-TP
  • Tax Payer : Cargo Partner Logistics India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua interest on NCDs and RDBs; Follows earlier order and Praxair India ruling

Aug 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-489-ITAT-2022(Bang)-TP
  • Tax Payer : Vena Energy KM Wind Power Pvt Ltd
High Court

HC: Admits assessee’s appeal challegning ITAT-order holding assessment-order not barred by Sec.153 limitation

Aug 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-1272-HC-2020(KAR)-TP
  • Tax Payer : Acer India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside DRP’s order; Remits issue of non-adjudication for fresh consideration

Aug 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-484-ITAT-2022(DEL)-TP
  • Tax Payer : Corteva Agriscience Services India Private Limited