Rulings ( 11344 results )

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Income tax Appellate Tribunal

ITAT: Assessment-order time-barred u/s.153; Sec.144C inapplicable to AY 2007-08, follows Vedanta HC-ruling

Jul 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-423-ITAT-2022(CHNY)-TP
  • Tax Payer : Pearson India Education Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits benchmarking of interest on outstanding AE receivables; Follows Zeta Interactive ruling

Jul 12, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-424-ITAT-2022(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Private Limited
Income tax Appellate Tribunal

ITAT: Holds TPO’s order passed beyond time limit; Follows Pfizer Healthcare ruling

Jul 12, 2022
  • In Favour of Assessee
  • Citation Number : TS-425-ITAT-2022(Mum)-TP
  • Tax Payer : Accenture Services Pvt Ltd (Now merges with and known as M/s Accenture Solutions Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Holds short term advances as loans and allows interest adjustment; Deletes adjustment made to the liaison fee

Jul 11, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-422-ITAT-2022(Ahd)-TP
  • Tax Payer : Kalpataru Power Transmission Ltd
Income tax Appellate Tribunal

ITAT: Holds power procured by non-eligible unit from SEB appropriate internal comparable to benchmark SDT

Jul 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-419-ITAT-2022(Kol)-TP
  • Tax Payer : Philips Carbon Black Ltd
Income tax Appellate Tribunal

ITAT: Confirms deletion of adjustments qua shareholders’ deposit, hypothetical income, guarantee; Follows earlier order

Jul 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-420-ITAT-2022(Mum)-TP
  • Tax Payer : The Bombay Dyeing & Mfg Co Limited
Income tax Appellate Tribunal

ITAT: Quashes TPO's order u/s 92CA r.w.s 153 as barred by limitation; Follows Pfizer ruling

Jul 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-421-ITAT-2022(Mum)-TP
  • Tax Payer : Emerson Electric Company (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds assessee's 'yield spread' method for benchmarking corporate guarantee @ 0.35%

Jul 11, 2022
  • In Favour of Assessee
  • Citation Number : TS-418-ITAT-2022(Mum)-TP
  • Tax Payer : Sikka Ports & Terminals Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for SWD and ITeS, Adjudicates on working capital adjustment; Follows precedent

Jul 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-414-ITAT-2022(Bang)-TP
  • Tax Payer : Altisource Business Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for investment advisory services; Deletes TP-adjustment qua interest on FCDs

Jul 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-416-ITAT-2022(Mum)-TP
  • Tax Payer : Altico Capital India Pvt Ltd (Formerly Clearwater Capital Partners (I) Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Upholds reduction of guarantee commission rate to 0.5% from 1.04%; Follows Everest Kanto

Jul 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-417-ITAT-2022(Mum)-TP
  • Tax Payer : S Kumars Nationwide Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables citing outsourcing of work, involvement in fraudulent activity; Allows depreciation-adjustment

Jul 08, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-413-ITAT-2022(Bang)-TP
  • Tax Payer : 24/7 Customer Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses assessee's appeal, holds comparables' selection attained finality in earlier round

Jul 07, 2022
  • In Favour of Revenue
  • Citation Number : TS-410-ITAT-2022(HYD)-TP
  • Tax Payer : Astrix Laboratories Ltd
Income tax Appellate Tribunal

ITAT: Deletes primary and secondary adjustments qua AMP spend for L'Oreal India; Follows earlier orders

Jul 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-409-ITAT-2022(Mum)-TP
  • Tax Payer : L’Oreal India Private Limited
Income tax Appellate Tribunal

ITAT: Quashes assessment order barred by limitation; income-variation, not tax-rate, precondition to invoke 144C

Jul 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-412-ITAT-2022(CHNY)-TP
  • Tax Payer : Worldpart Limited
Income tax Appellate Tribunal

ITAT: Remits adjustments qua forex fluctuation, depreciation, capacity utilization, working capital etc; Follows earlier order

Jul 07, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-411-ITAT-2022(Bang)-TP
  • Tax Payer : Tokai Rika Minda India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables; Calls the difference between functions of a manufacturer and assembler

Jul 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-405-ITAT-2022(Mum)-TP
  • Tax Payer : Hydac (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds TPO reference for SDT invalid given ommission of Sec 92BA(i); Directs examination u/s. 40A(2)(b)

Jul 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-406-ITAT-2022(Mum)-TP
  • Tax Payer : Edelweiss Rural & Corporate Services Limited (Earlier known as M/s. Edelweiss Commodities Services Limited)
Income tax Appellate Tribunal

ITAT: Determines corporate guarantee commission @ 0.40%; Applies internal CUP to benchmark interest

Jul 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-407-ITAT-2022(Mum)-TP
  • Tax Payer : Greatship (India) Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on brokerage commission; Holds TNMM as MAM

Jul 06, 2022
  • In Favour of Assessee
  • Citation Number : TS-408-ITAT-2022(Mum)-TP
  • Tax Payer : CLSA India Ltd.