Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Rules on comparables qua assessee's License and Contract Manufacturing Segments, allows working capital adjustment

Jul 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-460-ITAT-2022(Bang)-TP
  • Tax Payer : TE Connectivity India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271(1)(c) penalty since ALP-computation in accordance with Sec.92C

Jul 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-461-ITAT-2022(Mum)-TP
  • Tax Payer : Sitel India Ltd
Income tax Appellate Tribunal

ITAT: Directs operating-margin to be decided following Indo-Japan MAP resolution; Remits TP-adjustments w.r.t forex fluctuation

Jul 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-462-ITAT-2022(Bang)-TP
  • Tax Payer : Denso Kirloskar Industries Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds assessee computed ALP in ‘good faith’ and with ‘due diligence’; Deletes Sec.271(1)(c) penalty

Jul 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-454-ITAT-2022(Mum)-TP
  • Tax Payer : Sitel India Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment, grants working-capital adjustment following Huawei Technologies, rules on comparables

Jul 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-455-ITAT-2022(Bang)-TP
  • Tax Payer : Epson India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits interest computation on delayed AE receivables granting 90-day credit period, follows precedent

Jul 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-456-ITAT-2022(Bang)-TP
  • Tax Payer : Subex Ltd
Income tax Appellate Tribunal

ITAT: Holds raising non-adjudicable grounds no reason to dismiss entire appeal as not maintainable

Jul 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-457-ITAT-2022(Bang)-TP
  • Tax Payer : Tenova Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for JP Morgan; Adjudicates on various adjustments, Follows precedents

Jul 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-458-ITAT-2022(Mum)-TP
  • Tax Payer : J P Morgan India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds assessment order within limitation, follows Zuari Cement ruling over contrary smaller bench decision

Jul 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-450-ITAT-2022(Mum)-TP
  • Tax Payer : Lanxess India Private Ltd.
Income tax Appellate Tribunal

ITAT: Rules on comparables; Adjudicates on adjustments qua raw material consumption, working capital and interest on ECB

Jul 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-451-ITAT-2022(Bang)-TP
  • Tax Payer : Walvoil Fluid Power India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts TNMM over TPO’s PSM as MAM for benchmarking royalty payment; Follows earlier order

Jul 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-452-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Boshoku Automotive India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Applies upper-turnover filter limit of 200 crores for SWD segment; Remits functional-characterization of assessee

Jul 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-453-ITAT-2022(Bang)-TP
  • Tax Payer : Sprinklr India Private Ltd
Income tax Appellate Tribunal

ITAT: Upholds higher interest rate on unsecured NCDs considering risk involved, deletes TP-adjustment

Jul 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-449-ITAT-2022(Bang)-TP
  • Tax Payer : Vena Energy KM Wind Power Pvt Ltd
Income tax Appellate Tribunal

ITAT: Determines corporate guarantee commission ALP @ 0.5% for Adani Enterprises, follows precedent

Jul 20, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-444-ITAT-2022(Ahd)-TP
  • Tax Payer : Adani Enterprises Ltd
Income tax Appellate Tribunal

ITAT: No separate benchmarking wrt AMP-expense sans international transaction existence; Deletes TP-adjustment

Jul 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-445-ITAT-2022(DEL)-TP
  • Tax Payer : Casio India Company Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 4 comparables citing functional dissimilarity, failure to meet filters etc; Allows working-capital adjustment

Jul 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-446-ITAT-2022(Bang)-TP
  • Tax Payer : Yahoo Software Development India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Case not selected on TP-risk parameters; Holds no valid jurisdiction u/s 263

Jul 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-447-ITAT-2022(JPR)-TP
  • Tax Payer : Maniratnam Gems (P) Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal on AMP as infructuous considering MAP resolution

Jul 20, 2022
  • In Favour of Assessee
  • Citation Number : TS-448-ITAT-2022(DEL)-TP
  • Tax Payer : Beam Global Spirits & Wine [India] Pvt Ltd
Income tax Appellate Tribunal

ITAT: Aggregates spare-parts and CBU imports with manufacturing; Holds demurrage charges as non-operating

Jul 20, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-443-ITAT-2022(PUN)-TP
  • Tax Payer : Mercedes-Benz India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on TP-adjustment qua AMP expenses, reimbursement of expenses, working capital; Follows precedents

Jul 19, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-441-ITAT-2022(Mum)-TP
  • Tax Payer : India Medtronic Private Limited