Rulings ( 11344 results )

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Income tax Appellate Tribunal

ITAT: Accepts internal TNMM as MAM to determine ALP; Alternatively applies external TNMM basis broad functionality

Jun 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-383-ITAT-2022(Mum)-TP
  • Tax Payer : Huhtamaki India Limited (earlier known as to Huhtamaki PPL Limited)
Income tax Appellate Tribunal

ITAT: Affirms CPM as MAM for contract-manufacturing, deletes adjustment qua inter-unit SDTs

Jun 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-382-ITAT-2022(Kol)-TP
  • Tax Payer : Deepak Industries Ltd
Income tax Appellate Tribunal

ITAT: Holds draft assessment-order passed alongwith demand & penalty notice as null & void; Quashes order

Jun 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-384-ITAT-2022(Mum)-TP
  • Tax Payer : Aker Powergas Pvt Ltd
Income tax Appellate Tribunal

ITAT: Confirms deletion of TP-adjustment qua outstanding AE receivables; Follows Kusum Healthcare

Jun 24, 2022
  • In Favour of Assessee
  • Citation Number : TS-380-ITAT-2022(DEL)-TP
  • Tax Payer : iQor India Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for Citrix's SWD, ITeS segments, allows working capital adjustment

Jun 24, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-381-ITAT-2022(Bang)-TP
  • Tax Payer : Citrix R&D India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in SWD-service segment; Excludes Thirdware Solutions as no segmental results available

Jun 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-378-ITAT-2022(PUN)-TP
  • Tax Payer : E-Gain Communications Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes ALP-adjustment on interest free optionally convertible debentures; Follows earlier-order

Jun 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-379-ITAT-2022(Mum)-TP
  • Tax Payer : TV 18 Broadcast Limited
Income tax Appellate Tribunal

ITAT: Directs exclusion of damages, being abnormal cost, from operating cost; Excludes Megasoft Ltd being functionally dissimilar

Jun 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-377-ITAT-2022(PUN)-TP
  • Tax Payer : Cognizant Technology Solutions India Pvt Ltd(as a successor of Cognizant India Pvt Ltd) formerly T-Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Calls-out assessee's flip-flop between CUP and TNMM, Directs making of crystal-clear choice; Rejects blind aggregation of transactions

Jun 23, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-376-ITAT-2022(Ahd)-TP
  • Tax Payer : Gujarat Microwax Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds inclusion of sub-contracting charge in operating cost for SWD services, imputes LIBOR+2% on AE receivables

Jun 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-373-ITAT-2022(Bang)-TP
  • Tax Payer : Applied Materials India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits benchmarking of SWD services using internal TNMM noting TPO's contradictory observations, follows earlier decisions

Jun 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-375-ITAT-2022(Bang)-TP
  • Tax Payer : Brillio Technologies Pvt Ltd (Formerly known as M/s. Collabera Solutions Pvt. Ltd.,)
Income tax Appellate Tribunal

ITAT: Excludes comparables under SWD services and ITeS segments due to functional dissimilarity, follows earlier decisions

Jun 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-374-ITAT-2022(PUN)-TP
  • Tax Payer : Schlumberger India Technology Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects characterization of optionally convertible debenture as debt; Deletes ALP-adjustment

Jun 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-372-ITAT-2022(Mum)-TP
  • Tax Payer : TV 18 Broadcast Limited
Income tax Appellate Tribunal

ITAT: Case selected for scrutiny on TP risk parameter requires TPO’s reference; Falls under requisites of Instruction No. 3/2016

Jun 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-371-ITAT-2022(Bang)-TP
  • Tax Payer : Mapei Construction Products (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment-order passed beyond 30 days; No verification by TPO needed post DRP directions

Jun 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2022(DEL)-TP
  • Tax Payer : Adobe Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits AMP adjustment qua Lenovo's trading segment to verify ALP of margin, accepts CUP for manufacturing

Jun 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-370-ITAT-2022(Bang)-TP
  • Tax Payer : Lenovo (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds final assessment order basis dispatch date despite different CPC date, Refers to pre-2018 procedure followed by Revenue

Jun 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-369-ITAT-2022(Bang)-TP
  • Tax Payer : VMware Software India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects LIBOR base for benchmarking outstanding AE-receivables on grounds of profit shifting to AE

Jun 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-367-ITAT-2022(HYD)-TP
  • Tax Payer : Zeta Interactive Systems (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds deletion of 271G penalty levied on diamond trader, follows Navin Chandra ruling

Jun 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-363-ITAT-2022(Mum)-TP
  • Tax Payer : Kapu Gems
Income tax Appellate Tribunal

ITAT: Remits MAM selection for ophthalmic goods' trading segment; Directs furnishing of segmental details

Jun 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-365-ITAT-2022(Bang)-TP
  • Tax Payer : Johnson & Johnson Surgical Vision India Pvt Ltd