Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Holds no TP-adjustment warranted if expenditure incurred and reimbursed by AE was part of working capital adjustment

Mar 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-136-ITAT-2022(Bang)-TP
  • Tax Payer : Amicorp Management India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts classification as trader, not manufacturer, for first year of operations; Directs fresh benchmarking exercise

Mar 16, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-132-ITAT-2022(Mum)-TP
  • Tax Payer : Toto India Industries Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds guarantee commission fee of 0.6 % recovered on standby letter for AE; Follows precedent

Mar 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-135-ITAT-2022(Bang)-TP
  • Tax Payer : Hasham Traders
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables in ITeS segment for captive servie-provider; Follows precedent

Mar 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-133-ITAT-2022(Bang)-TP
  • Tax Payer : Goldman Sachs Services Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Remands the ‘Payment of corporate guarantee’ for benchmarking as international transaction; Follows precedent

Mar 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-134-ITAT-2022(Mum)-TP
  • Tax Payer : Peri (India) Private Limited
Income tax Appellate Tribunal

ITAT: Upholds upper turnover filter of 100 crores; Holds AO’s prima facie view sufficient for TP reference

Mar 16, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-131-ITAT-2022(Bang)-TP
  • Tax Payer : Transworld ICT Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for SWD segment; Follows precedent

Mar 15, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-130-ITAT-2022(Bang)-TP
  • Tax Payer : IDS Software Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables, excludes 2 for MSS segment; Follows Electronics Imaging

Mar 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-129-ITAT-2022(Bang)-TP
  • Tax Payer : Texas Instruments (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for BPO service provider, excludes 3, includes 2; Follows precedent

Mar 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-128-ITAT-2022(Mum)-TP
  • Tax Payer : Morgan Stanley Advantage Services Pvt Ltd
High Court

HC: Holds resolution of ground of delayed issuance of notice of assessment as 'preliminary issue' before adjudication of other issues

Mar 09, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-714-HC-2021(MAD)-TP
  • Tax Payer : Dormakaba India Private Ltd
Income tax Appellate Tribunal

ITAT: Upholds 5% as ALP rate of royalty and RPM as ‘MAM’ for Diesel Fashions’ routine distributor functions

Mar 08, 2022
  • In Favour of Assessee
  • Citation Number : TS-127-ITAT-2022(Mum)-TP
  • Tax Payer : Diesel Fashion India Reliance Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits verification of ‘documentary evidence’ for cost recoveries; Upholds 6% as ALP interest on AE loan

Mar 08, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-126-ITAT-2022(DEL)-TP
  • Tax Payer : Jubilant Life Sciences Ltd
High Court

HC: Quashes assessment order passed during pendency of reference before DRP, directs for fresh order

Mar 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-125-HC-2022(BOM)-TP
  • Tax Payer : Hactom Agro Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds ‘NIL’ ALP for IGS sans documentary evidence; No prejudice against similar claim for other AYs

Mar 07, 2022
  • In Favour of Revenue
  • Citation Number : TS-124-ITAT-2022(DEL)-TP
  • Tax Payer : Akzo Nobel India Ltd., (formerly known as Akzo Nobel Car Refinishes India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Accepts ALP of royalty, interest payments on INR denominated CCDs as determined by assessee, follows precedent

Mar 07, 2022
  • In Favour of Assessee
  • Citation Number : TS-122-ITAT-2022(Bang)-TP
  • Tax Payer : Praxair India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on the selection of comparables for ITeS; Excludes 3, Follows precedent

Mar 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-120-ITAT-2022(Bang)-TP
  • Tax Payer : Acuity Knowledge Centre (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Pardons assessee's first unintentional and bonafide mistake of non-filing of Form 3CEB; Deletes 271BA penalty

Mar 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-121-ITAT-2022(Ahd)-TP
  • Tax Payer : Faith Intertrade
Income tax Appellate Tribunal

ITAT: Upholds RPM as ‘MAM’ for routine distributor functions; Highlights TPO’s power to obtain comparable information

Mar 04, 2022
  • In Favour of Assessee
  • Citation Number : TS-119-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Industries Engine India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s deletion of disallowance u/s 10A made basis adjusted ALP of ITES to AE

Mar 03, 2022
  • In Favour of Assessee
  • Citation Number : TS-116-ITAT-2022(PUN)-TP
  • Tax Payer : Romax Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables in 4 segments; Allows working capital adjustment

Mar 03, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-117-ITAT-2022(Mum)-TP
  • Tax Payer : Red Hat India Private Limited