Rulings ( 11519 results )

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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.
Income tax Appellate Tribunal

ITAT: Directs AO to pass consequential orders, TP addition reduced to NIL post rectification

Jul 05, 2022
  • In Favour of Revenue
  • Citation Number : TS-401-ITAT-2022(Bang)-TP
  • Tax Payer : EMC Software and Services India P Ltd
Income tax Appellate Tribunal

ITAT: Confirms determination of corporate guarantee commission @ 0.50%; Follows Everest Kanto

Jul 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-402-ITAT-2022(Mum)-TP
  • Tax Payer : Allcargo Logistics Ltd
Income tax Appellate Tribunal

ITAT: Directs use of internal comparable as against external under TNMM; Follows e4e Business Solutions

Jul 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-403-ITAT-2022(Bang)-TP
  • Tax Payer : Technicolor India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in SWD/ITeS segments, applies 200 cr turnover filter; Follows precedents

Jul 05, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-404-ITAT-2022(Bang)-TP
  • Tax Payer : Mindteck India Limited
Income tax Appellate Tribunal

ITAT: Accepts assessee’s TNMM over TPO’s CUP as MAM; Follows earlier-order

Jul 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-398-ITAT-2022(HYD)-TP
  • Tax Payer : Zuari Cement Limited