Rulings ( 11925 results )

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Income tax Appellate Tribunal

ITAT: Accepts Anchor Electricals' plea w.r.t royalty for technical know-how; Directs AO to modify erroneous TP-adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-778-ITAT-2022(Mum)-TP
  • Tax Payer : Anchor Electricals Private Limited
Income tax Appellate Tribunal

ITAT: Adopts corporate guarantee commission at 0.5%, follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-779-ITAT-2022(PUN)-TP
  • Tax Payer : Varroc Engineering Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds LIBOR not always the rate for intra-bank transactions; Deletes adjustment of interest paid on FCBs

  • In Favour of Assessee
  • Citation Number : TS-780-ITAT-2022(Mum)-TP
  • Tax Payer : Shinhan Bank
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua cement export, interest w.r.t ship-financing in case of Ambuja Cements

  • In Favour of Assessee
  • Citation Number : TS-777-ITAT-2022(Mum)-TP
  • Tax Payer : Ambuja Cement Limited (formerly Known as Gujarat Ambuja Cements Ltd)
Income tax Appellate Tribunal

ITAT: Excludes comparables citing extraordinary event of acquisition, amalgamation etc; Remits margin-computation

  • In Favour of Both, Partially
  • Citation Number : TS-776-ITAT-2022(PUN)-TP
  • Tax Payer : Velocity Tech-Sol India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment made via invalid order not containing DIN; No provision for substitution of order

  • In Favour of Assessee
  • Citation Number : TS-775-ITAT-2022(Bang)-TP
  • Tax Payer : Intrado EC India Private Ltd (formerly West Unified Communications India Pvt Ltd]
High Court

HC: Upholds Nil ALP absent evidence supporting receipt of services; Every AY a separate unit

  • In Favour of Revenue
  • Citation Number : TS-774-HC-2022(DEL)-TP
  • Tax Payer : Akzonobel India Private Limited
Income tax Appellate Tribunal

ITAT: Rejects Nil ALP determination of management charges and interest on FCCDs paid to AE

  • In Favour of Both, Partially
  • Citation Number : TS-773-ITAT-2022(CHNY)-TP
  • Tax Payer : Howden Solyvent (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua reimbursement of expenses; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-772-ITAT-2022(Mum)-TP
  • Tax Payer : NESS digital Engineering (India) P Ltd
Income tax Appellate Tribunal

ITAT: Grants assessee opportunity to justify change in MAM from TNMM to internal CUP

  • In Favour of Assessee
  • Citation Number : TS-771-ITAT-2022(CHNY)-TP
  • Tax Payer : Seoyon E-HWA Automotive Chennai Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on commission qua 'old' and 'new' corporate guarantees, interest on AE-loan

  • In Favour of Both, Partially
  • Citation Number : TS-770-ITAT-2022(Mum)-TP
  • Tax Payer : Mahindra & Mahindra Ltd
Income tax Appellate Tribunal

ITAT: PCIT overstepped exercising revisional jurisdiction; Sets aside order given mandatory requirements unfulfilled

  • In Favour of Assessee
  • Citation Number : TS-769-ITAT-2022(Mum)-TP
  • Tax Payer : Metallurgical Services Private Limited
Income tax Appellate Tribunal

ITAT: Draft Order not forwarded at address stipulated under Rule 127; Quashes assessment as time-barred

  • In Favour of Assessee
  • Citation Number : TS-768-ITAT-2022(Mum)-TP
  • Tax Payer : DSV Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Rejects adjustment for underutilization of capacity and application of multiple year data

  • In Favour of Both, Partially
  • Citation Number : TS-765-ITAT-2022(CHNY)-TP
  • Tax Payer : Eversendai Construction Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables under SWD, MSS segments; Holds outstanding trade receivables as international-transaction

  • In Favour of Both, Partially
  • Citation Number : TS-767-ITAT-2022(Bang)-TP
  • Tax Payer : Synamedia India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables citing extraordinary event of amalgamation, merger etc for SWD service provider

  • In Favour of Both, Partially
  • Citation Number : TS-764-ITAT-2022(PUN)-TP
  • Tax Payer : SAS Research & Development India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats forex gain, insurance claim as operating in nature; Remits issue qua payment for IGS

  • In Favour of Both, Partially
  • Citation Number : TS-766-ITAT-2022(PUN)-TP
  • Tax Payer : Dana India Private Limited
Income tax Appellate Tribunal

ITAT: Scrutinizes the expression ‘control’ in Sec. 92A(2); Invalidates AO’s conclusion for reopening the assessment

  • In Favour of Assessee
  • Citation Number : TS-763-ITAT-2022(Mum)-TP
  • Tax Payer : Reliance Industrial Holdings Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustment w.r.t outstanding AE-receivables; Follows Kusum Health care

  • In Favour of Assessee
  • Citation Number : TS-759-ITAT-2022(Mum)-TP
  • Tax Payer : Aquity Solutions India Pvt Ltd (Earlier known as M Modal Global Services Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Quashes final order passed beyond limitation period, De novo assessment not ordered in first round

  • In Favour of Assessee
  • Citation Number : TS-760-ITAT-2022(Bang)-TP
  • Tax Payer : Mindtree Ltd (Previously known as Aztecsoft Ltd)