Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Rules on comparables’ selection for manufacturing; Adjudicates on working capital adjustment

Sep 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-657-ITAT-2022(Bang)-TP
  • Tax Payer : Walvoil Fluid Power India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in ITeS segment, allows depreciation at 60% on software purchased by assessee

Sep 27, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-658-ITAT-2022(HYD)-TP
  • Tax Payer : TNS India Private Limited
High Court

HC: Refuses to interfere with ITAT order excluding functionally dissimilar comparables sans perversity

Sep 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-656-HC-2022(DEL)-TP
  • Tax Payer : Macquarie Global Services Pvt Ltd
High Court

HC: Dismisses assessee's writ appeal, holds AO empowered to initiate reassessment sans final assessment order

Sep 27, 2022
  • In Favour of Revenue
  • Citation Number : TS-655-HC-2022(MAD)-TP
  • Tax Payer : Kone Elevator India Private Limited
Income tax Appellate Tribunal

ITAT: Permits assessee's capitalisation of "SDT-expenses" and consequent depreciation; Rejects TPO's NIL ALP

Sep 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-653-ITAT-2022(Mum)-TP
  • Tax Payer : Thiruvananthapuram Road Development Company Ltd
Income tax Appellate Tribunal

ITAT: Holds defective goods returned not ‘extraordinary expense’; Upholds RPM for traded goods sold to AEs

Sep 26, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-34-ITAT-2022(PUN)-TP
  • Tax Payer : Robertshaw Controls India Private Limited
Income tax Appellate Tribunal

ITAT: Admits assessee’s additional-grounds w.r.t non-adoption of prescribed methods; Remits issue

Sep 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-1263-ITAT-2020(HYD)-TP
  • Tax Payer : Biogenex Life Sciences Private Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee’s-MA; Rectifies Tribunal-order w.r.t restoration of non-adoption of prescribed methods

Sep 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-471-ITAT-2021(HYD)-TP
  • Tax Payer : Biogenex Life Sciences Private Ltd
Income tax Appellate Tribunal

ITAT: Follows rule of consistency, upholds grant of working capital adjustment & exclusion of comparables

Sep 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-649-ITAT-2022(DEL)-TP
  • Tax Payer : Osram India P. Ltd
Income tax Appellate Tribunal

ITAT: Applies Danish MAP to Singapore entity, Directs 50% adjustment qua administration and support services

Sep 26, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-650-ITAT-2022(CHNY)-TP
  • Tax Payer : Grundfos Pumps India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds assessee's CUP over TPO's TNMM for sales; Fixes corporate guarantee commission @0.5%

Sep 26, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-651-ITAT-2022(CHNY)-TP
  • Tax Payer : Mega Soft Ltd
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustment qua royalty receivable, corporate guarantee for Dabur India

Sep 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-652-ITAT-2022(DEL)-TP
  • Tax Payer : Dabur India Ltd
Income tax Appellate Tribunal

ITAT: Goes by 'economic substance', upholds TPO's treatment of FCCD as debt & interest @LIBOR+200bps

Sep 26, 2022
  • In Favour of Revenue
  • Citation Number : TS-648-ITAT-2022(HYD)-TP
  • Tax Payer : Watermarke Residency Limited
Income tax Appellate Tribunal

ITAT: Excludes Tech Mahindra, Microland, Infosys BPM for ITeS provider; Cites high turnover

Sep 23, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-644-ITAT-2022(Bang)-TP
  • Tax Payer : Iron Mountain Services Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables; Excludes TPO’s selection in the second round of litigation

Sep 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-645-ITAT-2022(CHNY)-TP
  • Tax Payer : Watanmal India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; holds benefit from using "free" imported assets taxable u/s 28(iv)

Sep 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-646-ITAT-2022(Bang)-TP
  • Tax Payer : Hewlett-Packard India Software Operation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes software product companies being functionally-dissimilar to SWD service provider, follows precedents

Sep 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-647-ITAT-2022(Bang)-TP
  • Tax Payer : NXP India Pvt Ltd (Successor of NXP Semiconductors India P.Ltd.)
Income tax Appellate Tribunal

ITAT: Directs considering effective rate, time value of money qua interest on NCDs, follows Goodyear

Sep 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-643-ITAT-2022(Bang)-TP
  • Tax Payer : GCorp Services Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables for HSBC group entity, excludes Maple e-solutions citing unreliable financial data / fraud

Sep 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-639-ITAT-2022(Mum)-TP
  • Tax Payer : HSBC Professional Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment-order passed without incorporating DRP’s directions on comparables; Follows precedent

Sep 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-640-ITAT-2022(Bang)-TP
  • Tax Payer : Trivium eSolutions Pvt Ltd