Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Directs application of 25% export sales to sales filter for selection of comparables, Rules on IGS

Mar 03, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-118-ITAT-2022(PUN)-TP
  • Tax Payer : Nalco Water India Limited
Income tax Appellate Tribunal

ITAT: Deletes the TP-adjustment proposed for royalty as a separate international transaction; Follows precedent

Mar 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-115-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motor P. Ltd
Income tax Appellate Tribunal

ITAT: Rejects comparables basis functional dissimilarity; Upholds CIT(A) order, follows precedent

Mar 02, 2022
  • In Favour of Assessee
  • Citation Number : TS-114-ITAT-2022(Bang)-TP
  • Tax Payer : Xchanging Solutions Ltd (formerly Cambridge Solutions Limited)
Income tax Appellate Tribunal

ITAT: Imputes LIBOR+2% as ALP interest on outstanding AE-receivables; Restricts ALP adjustment to AE-transactions

Mar 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-113-ITAT-2022(Bang)-TP
  • Tax Payer : Bioplus Life Sciences Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Miscellaneous Petition w.r.t TP adjustment on outstanding receivables

Mar 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-111-ITAT-2022(Bang)-TP
  • Tax Payer : Swiss Re Global Business Solution India Pvt Ltd
High Court

HC: Exercises writ-jurisdiction; Sets aside TP-order passed without considering assessee's submissions; Orders denovo consideration with personal hearing

Mar 02, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-112-HC-2022(BOM)-TP
  • Tax Payer : CapitalG International LLC
Income tax Appellate Tribunal

ITAT: Excludes 1, includes 1 comparable, Restricts TP adjustment to international transactions entered with AEs

Mar 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-106-ITAT-2022(Bang)-TP
  • Tax Payer : FMC India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 2 comparables; Deletes TP Adjustment for marketing support services

Mar 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-108-ITAT-2022(Mum)-TP
  • Tax Payer : Asus India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP determination for certification services rendered, payment of royalty, IT and management fees; Rules on ITES comparables

Mar 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-110-ITAT-2022(Bang)-TP
  • Tax Payer : UL India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits determination of ALP for Licence manufacturing segment, Information Service payment

Mar 01, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-107-ITAT-2022(Bang)-TP
  • Tax Payer : TE Connectivity India Pvt Ltd
High Court

HC: Accepts foreign AE's selection as tested-party, Espouses principle of least complex entity being tested-party

Mar 01, 2022
  • In Favour of Assessee
  • Citation Number : TS-109-HC-2022(CAL)-TP
  • Tax Payer : Almatis Alumina Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Quashes assessment orders passed beyond time limit u/s 153; Holds Sec.144C inapplicable prior to AY 2010-11

Feb 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-105-ITAT-2022(SUR)-TP
  • Tax Payer : Bilag Industries P Ltd
Income tax Appellate Tribunal

ITAT: Excludes 7 comparables failing upper turnover filter; Follows Autodesk India

Feb 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-104-ITAT-2022(Bang)-TP
  • Tax Payer : Radisys India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on financial transactions of Torrent Pharma; Deletes notional interest on O/s share application money

Feb 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-101-ITAT-2022(Ahd)-TP
  • Tax Payer : Torrent Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT: Accepts unaudited segmental results for ALP-determination of BPO-segment, remits ALP-determination of performance guarantee

Feb 28, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-103-ITAT-2022(Mum)-TP
  • Tax Payer : Teleperformance Global Services Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses ground on TP adjustment in view of APA resolution

Feb 28, 2022
  • In Favour of Assessee
  • Citation Number : TS-102-ITAT-2022(Bang)-TP
  • Tax Payer : Infinera India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for SWD, excludes 4, includes 1; Follows precedent

Feb 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-100-ITAT-2022(Bang)-TP
  • Tax Payer : Sharp Software Development India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs use of internal comparables over external comparables, Remits the issue of benchmarking international transaction

Feb 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-97-ITAT-2022(Bang)-TP
  • Tax Payer : Sami –Sabinsa Group Ltd
Income tax Appellate Tribunal

ITAT: Remands issue of characterization of assessee’s business; Directs de-novo verification considering assessee’s FAR analysis

Feb 25, 2022
  • In Favour of Assessee
  • Citation Number : TS-99-ITAT-2022(Bang)-TP
  • Tax Payer : Talisma Corporation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds existence of arrangement as a quintessential for AMP adjustment; Remits IBMs case

Feb 25, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-98-ITAT-2022(Bang)-TP
  • Tax Payer : IBM India Pvt Ltd