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Income tax Appellate Tribunal

ITAT: Remits manufacturing segment's capacity utilization adjustment; Rules on ITES comparables

Mar 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-157-ITAT-2022(Bang)-TP
  • Tax Payer : Brady Company India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Admits additional evidence, directs verification of applicability of internal TNMM over external

Mar 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-153-ITAT-2022(Bang)-TP
  • Tax Payer : Altran Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs verification if assessee’s business akin to SWD or software manufacturing; Upholds LIBOR+2% on receivables

Mar 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-156-ITAT-2022(Bang)-TP
  • Tax Payer : Talisma Corporation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs TP adjustment basis verification if Schneidar's FAR akin to SWD or R&D service

Mar 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-154-ITAT-2022(Bang)-TP
  • Tax Payer : Schneider Electric IT Business India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Following SC ruling in Maruti Suzuki, quashes assessment order passed in predecessor’s name

Mar 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2022(DEL)-TP
  • Tax Payer : Honda Cars India Ltd
Income tax Appellate Tribunal

ITAT: Upholds OP/Sales as PLI for textile machinery & auto components manufacturing segments

Mar 24, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-149-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Industries Engine India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds CUP for royalty tenable since comparables available, despite TNMM at entity level

Mar 24, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-152-ITAT-2022(CHNY)-TP
  • Tax Payer : Doosan Power Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Separate AMP adjustment not required as Lenovo’s trading margins at ALP; Accepts CUP for manufacturing segment

Mar 24, 2022
  • In Favour of Assessee
  • Citation Number : TS-148-ITAT-2022(Bang)-TP
  • Tax Payer : Lenovo (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds LIBOR+Markup as benchmark for interest on loans to AE; Clarifies implications of Tata Autocomp ruling

Mar 23, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-150-ITAT-2022(Mum)-TP
  • Tax Payer : Oriental Aromatics Ltd
Income tax Appellate Tribunal

ITAT: Upholds relevance of broad similarity under TNMM; Allows working capital adjustment following Huawei Technologies

Mar 23, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-147-ITAT-2022(Bang)-TP
  • Tax Payer : Walvoil Fluid Power India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment on alleged brand enhancement of Hyundai Motor Corp, takes consistent view

Mar 23, 2022
  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2022(CHNY)-TP
  • Tax Payer : Hyundai Motor India Ltd
Income tax Appellate Tribunal

ITAT: Denies delayed appeal against revisionary order as 'afterthought'; Rules on comparables in ITeS Segment

Mar 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-145-ITAT-2022(Bang)-TP
  • Tax Payer : Vee Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: TP-adjustment cannot exceed amount of margin retained by AE; Follows precedent

Mar 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-143-ITAT-2022(Mum)-TP
  • Tax Payer : Trigyn Technologies Ltd.
Income tax Appellate Tribunal

ITAT: Remits benchmarking based on similar manufacturing comparables & advances written-off, claimed as extraordinary

Mar 22, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-144-ITAT-2022(Bang)-TP
  • Tax Payer : Indo Spanish Tasty Foods Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds ALP of interest on outstanding payables at 'Nil', absent similar payment to non-AEs

Mar 22, 2022
  • In Favour of Revenue
  • Citation Number : TS-142-ITAT-2022(Mum)-TP
  • Tax Payer : Peri (India) Private Limited
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables in SWD segment; Remits issue of interest on receivables

Mar 21, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-141-ITAT-2022(Bang)-TP
  • Tax Payer : Cypress Semiconductor Technology India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Total revenue of Assessee & AE cannot exceed actual amount billed to customer; Upholds 5% markup

Mar 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-139-ITAT-2022(Mum)-TP
  • Tax Payer : Softdel Systems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows additional legal ground, remits appeal to DRP for verification of AO’s jurisdiction

Mar 21, 2022
  • In Favour of Assessee
  • Citation Number : TS-140-ITAT-2022(Bang)-TP
  • Tax Payer : SAP LABS India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds RPM for standalone international transaction of purchase of traded goods, absent any change in FAR

Mar 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-137-ITAT-2022(DEL)-TP
  • Tax Payer : Grohe India Private Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for contract service provider; Follows precedent

Mar 17, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-138-ITAT-2022(Bang)-TP
  • Tax Payer : Micro Semi Storage Solutions India Pvt Ltd