Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Remands benchmarking purchase of raw materials adopting CPM; Applies rule of consistency

Apr 05, 2022
  • In Favour of Assessee
  • Citation Number : TS-178-ITAT-2022(PUN)-TP
  • Tax Payer : ThyssenKrupp Electrical Steel India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits verification of actual receipt of corporate management services and payment therefor; Casts substantiation onus on assessee

Apr 05, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-176-ITAT-2022(DEL)-TP
  • Tax Payer : Federal Mogul Ignition Products India Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in ITeS; Considers miscellaneous income as operating income to compute profit margin

Apr 05, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-177-ITAT-2022(DEL)-TP
  • Tax Payer : MD Everywhere India (P) Limited
Income tax Appellate Tribunal

ITAT: Accepts assessee’s OP/VAE over TPO’s OP/TC as PLI; Restricts TP adjustment to international transactions

Apr 04, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-174-ITAT-2022(Mum)-TP
  • Tax Payer : DHL Logistics Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP addition made on account of AMP adjustment and Sec 68 addition for sundry creditors

Apr 04, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-173-ITAT-2022(DEL)-TP
  • Tax Payer : Amway India Enterprises Pvt Ltd
High Court

HC: Quashes assessment order passed without providing opportunity of being heard; Remands for De novo adjudication

Apr 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-175-HC-2022(KAR)-TP
  • Tax Payer : Simplilearn Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Excludes SWD companies with turnover above Rs.200 Cr.; Remits on WC adjustment

Apr 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-171-ITAT-2022(Bang)-TP
  • Tax Payer : Capco Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sec.92C(4) inapplicable where Sec.10A exemption not claimed on TP adjustment; Sets aside revisionary order

Apr 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-172-ITAT-2022(DEL)-TP
  • Tax Payer : Linde engineering India private limited
Income tax Appellate Tribunal

ITAT: Delineates extended trade credit from loan; Remits for benchmarking basis interest rate in open market

Apr 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-170-ITAT-2022(Mum)-TP
  • Tax Payer : Tech Mahindra Limited
Income tax Appellate Tribunal

ITAT: Directs deletion of adjustment on account of intra-group services; Follows precedent

Mar 31, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-165-ITAT-2022(DDN)-TP
  • Tax Payer : BG Exploration & Production India Ltd
Income tax Appellate Tribunal

ITAT: Accepts year-specific exchange rate differential as markup on LIBOR for interest on receivables

Mar 31, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-161-ITAT-2022(DEL)-TP
  • Tax Payer : Headstrong Services India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Non-specific doubts on Auditor’s disclaimer not enough for rejecting segmental accounts entirely; Remits appeal

Mar 31, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-168-ITAT-2022(Mum)-TP
  • Tax Payer : V2 Tech Ventures Pvt Ltd
Income tax Appellate Tribunal

ITAT: Pledging of shares for AE's loan akin to corporate guarantee; Upholds benchmarking on similar lines

Mar 30, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-167-ITAT-2022(Mum)-TP
  • Tax Payer : Virgo Valves & Controls Ltd
Income tax Appellate Tribunal

ITAT: Allows risk adjustment basis unique manufacturing activity & competitive landscape; Upholds Ashnoor Textiles Mills as comparable

Mar 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-164-ITAT-2022(CHNY)-TP
  • Tax Payer : India Trimmings (P) Ltd
Income tax Appellate Tribunal

ITAT: Deletes cost contribution adjustment, following group entity's case; Rejects standalone benchmarking under CUP

Mar 30, 2022
  • In Favour of Assessee
  • Citation Number : TS-162-ITAT-2022(Bang)-TP
  • Tax Payer : Ingersoll-Rand Technologies and Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds interest on AE-loan computable for outstanding period, not for entire year on closing balance

Mar 30, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-163-ITAT-2022(Bang)-TP
  • Tax Payer : OPTO Circuits (India) Ltd
Income tax Appellate Tribunal

ITAT: Excludes SWD and ITeS companies above Rs.200 Cr. turnover; Deletes negative WC adjustment for captive service provider

Mar 29, 2022
  • In Favour of Assessee
  • Citation Number : TS-160-ITAT-2022(Bang)-TP
  • Tax Payer : Quest Global Engineering Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits verification of clubbing of non-AE expenses under AE segment; Holds onus lies on assessee

Mar 29, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-159-ITAT-2022(Bang)-TP
  • Tax Payer : Inger-Soll Rand International (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds turnover filter of Rs.200-Rs.2000 Cr. in SWD & ITeS segments; Follows LG Soft India

Mar 29, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-151-ITAT-2022(Bang)-TP
  • Tax Payer : Robert Bosch Engineering and Business Solutions Ltd
Income tax Appellate Tribunal

ITAT: Quashes TPO’s order proposing adjustment of SDT due to deletion of Sec.92BA(i); Relies on Ammann India

Mar 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2022(Ahd)-TP
  • Tax Payer : Laxmi Hydrocolloids