Rulings ( 11925 results )

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Income tax Appellate Tribunal

ITAT: Qualitative ratio of earlier decision may be persuasive, doesn't absolve assessee from yearly benchmarking

  • In Favour of Assessee
  • Citation Number : TS-625-ITAT-2022(Mum)-TP
  • Tax Payer : Sulzer Pumps India Limited
Supreme Court

SC: Dismisses Revenue's SLP against Bombay-HC ruling which found no perversity in comparables' selection

  • In Favour of Assessee
  • Citation Number : TS-624-SC-2022-TP
  • Tax Payer : 3i India Private Limited
Income tax Appellate Tribunal

ITAT: Remits royalty on export sales, computes AE-interest at LIBOR+2%; Follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-621-ITAT-2022(CHNY)-TP
  • Tax Payer : Titan Company Ltd (earlier Titan Industries Ltd)
Income tax Appellate Tribunal

ITAT: Excludes functionally dissimilar comparable; Observes, company with similar product was excluded for earlier AYs

  • In Favour of Assessee
  • Citation Number : TS-622-ITAT-2022(PUN)-TP
  • Tax Payer : Vishay Components India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua guarantee fee, expense reimbursement, interest-free loan; Follows earlier-orders

  • In Favour of Both, Partially
  • Citation Number : TS-623-ITAT-2022(Ahd)-TP
  • Tax Payer : Cadila Healthcare Ltd
Income tax Appellate Tribunal

ITAT: Interest on outstanding receivables subsumed by TNMM / working capital adjustment, deletes TP-addition

  • In Favour of Assessee
  • Citation Number : TS-618-ITAT-2022(VIZ)-TP
  • Tax Payer : Devi Sea Foods Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables qua Levi India's inventory procurement & sourcing support services segment

  • In Favour of Both, Partially
  • Citation Number : TS-619-ITAT-2022(Bang)-TP
  • Tax Payer : Levi Strauss (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds SDT adjustment not sustainable considering Sec.92BA(i) omission; Remits for examination u/s.40A(2)

  • In Favour of Both, Partially
  • Citation Number : TS-620-ITAT-2022(Bang)-TP
  • Tax Payer : Sri Krishna Diamonds (Firm)
Income tax Appellate Tribunal

ITAT: Quashes assessment order passed on non-existent entity; Follows one SC ruling, distinguishing another

  • In Favour of Assessee
  • Citation Number : TS-617-ITAT-2022(Bang)-TP
  • Tax Payer : Biocon Biologics Limited (Formerly known as Biocon Biologics India Limited)
Income tax Appellate Tribunal

ITAT: Remits ALP determination w.r.t. royalty on export sales for fresh adjudication; Computes AE-interest at LIBOR+2%

  • In Favour of Both, Partially
  • Citation Number : TS-614-ITAT-2022(CHNY)-TP
  • Tax Payer : Titan Company Ltd (earlier Titan Industries Ltd)
Income tax Appellate Tribunal

ITAT: Upholds deletion of TP-adjustments qua intra-group services, finished goods sales

  • In Favour of Assessee
  • Citation Number : TS-615-ITAT-2022(Kol)-TP
  • Tax Payer : AT&S India Private Limited
Income tax Appellate Tribunal

ITAT: Directs fresh adjudication on ALP-adjustment qua payments for Headquarter-services in light of evidences

  • In Favour of Both, Partially
  • Citation Number : TS-616-ITAT-2022(CHNY)-TP
  • Tax Payer : Eaton Power Quality Private Limited
High Court

HC: Dismisses Revenue's appeal on comparables qua investment advisory services provider, follows precedents

  • In Favour of Assessee
  • Citation Number : TS-613-HC-2022(BOM)-TP
  • Tax Payer : Warburg Pincus India pvt ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables' selection for SWD; Directs interest @ LIBOR+200 bps on AE-receivables

  • In Favour of Both, Partially
  • Citation Number : TS-609-ITAT-2022(HYD)-TP
  • Tax Payer : EPAM Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s deletion of TP-adjustment qua sale of finished goods to AE

  • In Favour of Both, Partially
  • Citation Number : TS-610-ITAT-2022(Kol)-TP
  • Tax Payer : Manaksia Steels Ltd
Income tax Appellate Tribunal

ITAT: Holds Sec 153 time limit applicable to DRP directions/ AO order in remand cases; Follows Madras HC ruling

  • In Favour of Assessee
  • Citation Number : TS-611-ITAT-2022(Ahd)-TP
  • Tax Payer : Cadila Healthcare Limited
Income tax Appellate Tribunal

ITAT: Quashes TP-adjustment, NFAC's final assessment order not in accordance with DRP’s directions

  • In Favour of Both, Partially
  • Citation Number : TS-612-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Tsusho India Private Limited
High Court

HC: Holds management services received by Sandvik Asia; Upholds ITAT order deleting TP adjustment

  • In Favour of Assessee
  • Citation Number : TS-608-HC-2022(BOM)-TP
  • Tax Payer : Sandvik Asia Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables qua SWD / MSS segments; Remits working capital adjustment, interest on receivables

  • In Favour of Both, Partially
  • Citation Number : TS-607-ITAT-2022(Bang)-TP
  • Tax Payer : ARM Embedded Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sale promotion expense reimbursed by AE part of composite distribution activity; Deletes adjustment

  • In Favour of Assessee
  • Citation Number : TS-606-ITAT-2022(Mum)-TP
  • Tax Payer : Signity India Pvt Ltd