Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Rules on TP-adjustment on interest on working capital advances & trading receivables, guarantees and sale-purchase transactions

Apr 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-237-ITAT-2022(HYD)-TP
  • Tax Payer : Vivimed Labs Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables, rejects assessee’s internal TNMM; Deletes adjustment on account of guarantee commission

Apr 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-236-ITAT-2022(Mum)-TP
  • Tax Payer : United Shippers Ltd
High Court

HC: Dismisses Revenue’s appeal contesting ITAT’s exclusion of comparables; Views no substantial question of law involved

Apr 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-238-HC-2022(DEL)-TP
  • Tax Payer : Mentor Graphics India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds assessee and AE acted "in concert" for AMP expenses; Upholds it to be an international transaction

Apr 27, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-235-ITAT-2022(DEL)-TP
  • Tax Payer : Olympus Medical Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes assessments for want of incriminating material found or seized during course of search

Apr 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-234-ITAT-2022(HYD)-TP
  • Tax Payer : Vivimed Labs Limited
High Court

HC: Quashes final order passed sans draft assessment order in remand proceedings; Section 144C(1) mandatory

Apr 27, 2022
  • In Favour of Assessee
  • Citation Number : TS-233-HC-2022(BOM)-TP
  • Tax Payer : ExxonMobil Company India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment for interest on delayed AE receivables; Follows precedent

Apr 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-230-ITAT-2022(HYD)-TP
  • Tax Payer : Hexagon Capability Center India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes addition on account of interest on delayed AE receivables; Follows precedent

Apr 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-231-ITAT-2022(HYD)-TP
  • Tax Payer : Harsco India Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores Sec 271(1)(c) penalty matter to AO w.r.t TP-additions; Follows co-ordinate bench restoring quantum proceedings

Apr 26, 2022
  • In Favour of Assessee
  • Citation Number : TS-232-ITAT-2022(Ahd)-TP
  • Tax Payer : Atul Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment for non-binding investment advisory services provided by HSBC AMC; Rules on cost allocations

Apr 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-229-ITAT-2022(Mum)-TP
  • Tax Payer : HSBC Asset Management (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Remits issues of working-capital adjustment and outstanding receivables

Apr 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2022(Bang)-TP
  • Tax Payer : NetApp India Marketing & Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants conditional stay for 6 months, Directs 20% payment

Apr 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-228-ITAT-2022(Bang)-TP
  • Tax Payer : Schneider Electric IT Business India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs no separate adjustment for AMP expenses, since assessee’s net margin at arm’s length

Apr 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-226-ITAT-2022(Bang)-TP
  • Tax Payer : Epson India Private Limited
Income tax Appellate Tribunal

ITAT: Allows extended AE credit period in light of applicability of APA rollback; Follows precedent

Apr 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-227-ITAT-2022(Bang)-TP
  • Tax Payer : ANZ Support Services India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables in SWD segment, Follows precedent

Apr 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-223-ITAT-2022(Bang)-TP
  • Tax Payer : ANSR Global Corporation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects TPO’s PSM for royalty ALP determination; Holds TNMM as MAM, follows precedent

Apr 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-222-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Boshoku Automotive India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Applies TNMM to benchmark counter guarantees issued by ANZ in India; Rejects CUP, follows Asian Paints ruling

Apr 22, 2022
  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2022(Mum)-TP
  • Tax Payer : Australia and New Zealand Banking Group Ltd
Income tax Appellate Tribunal

ITAT: Applies TNMM for benchmarking export of rice to AEs; Comments on applicability of +/-5% range benefit post 2009 amendment

Apr 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-221-ITAT-2022(DEL)-TP
  • Tax Payer : L T Foods Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Directs forex loss be treated as non-operative; Grants working-capital adjustment on actuals

Apr 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-220-ITAT-2022(Bang)-TP
  • Tax Payer : Marlabs Innovations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on purchases of traded goods; Directs gross margin of comparable company at 11.08%

Apr 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-218-ITAT-2022(Mum)-TP
  • Tax Payer : B Braun Medical (India) Private Limited