Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Remits determination of existence of international transaction for AMP-expenses; Directs de novo adjudication

Feb 17, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-77-ITAT-2022(Bang)-TP
  • Tax Payer : Transitions Optical Distribution Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds new jurisdictional AO’s order subsequent to address change; Concurs with CIT(A)’s adjudication on merits

Feb 17, 2022
  • In Favour of Assessee
  • Citation Number : TS-74-ITAT-2022(DEL)-TP
  • Tax Payer : Xavient Information Systems (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs application of 15% RPT filter; Remits capacity adjustment and turnover filter determination

Feb 16, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-71-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes 271BA penalty on MTNL qua non-reporting of salary cost of deputed employees, Applies 273B

Feb 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-72-ITAT-2022(DEL)-TP
  • Tax Payer : Mahanagar Telephone Nigam Ltd
Income tax Appellate Tribunal

ITAT: Rejects applicability of Berry Ratio to full-fledged manufacturers; Reads Sumitomo Corporation ruling

Feb 16, 2022
  • In Favour of Assessee
  • Citation Number : TS-70-ITAT-2022(JPR)-TP
  • Tax Payer : Vaibhav Global Limited
Income tax Appellate Tribunal

ITAT: Deletes interest on outstanding receivables from AE; Directs TP adjustment of 0.50% on corporate guarantee

Feb 15, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-69-ITAT-2022(Bang)-TP
  • Tax Payer : Tejas Networks Limited
Income tax Appellate Tribunal

ITAT: Excludes 2, remits 2 comparables; Restores depreciation adjustment and remits working capital adjustment

Feb 15, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-67-ITAT-2022(DEL)-TP
  • Tax Payer : DE Diamond Electric India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Admits additional ground; Holds assessment order in non-compliance with DRP’s directions as non-est

Feb 15, 2022
  • In Favour of Assessee
  • Citation Number : TS-68-ITAT-2022(DEL)-TP
  • Tax Payer : L.G. Electronics Inc
Income tax Appellate Tribunal

ITAT: Rules on Ford India’s turnover base for royalty computation

Feb 14, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-65-ITAT-2022(CHNY)-TP
  • Tax Payer : Ford Global Technologies LLC
Income tax Appellate Tribunal

ITAT: Upholds DRP’s direction for inclusion of Microland as ITES comparable absent Revenue’s objection

Feb 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-64-ITAT-2022(Bang)-TP
  • Tax Payer : Capital One Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds assessee’s classification as ‘business support service provider’, Directs exclusion of FOB costs for margin computation

Feb 14, 2022
  • In Favour of Assessee
  • Citation Number : TS-66-ITAT-2022(DEL)-TP
  • Tax Payer : Itochu India Private Ltd
Income tax Appellate Tribunal

ITAT: Remits 7 comparables; Upholds 0.5% commission at ALP for corporate guarantee fee

Feb 11, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-61-ITAT-2022(Bang)-TP
  • Tax Payer : Xchanging Solutions Ltd (formerly Cambridge Solutions Limited)
Income tax Appellate Tribunal

ITAT: Rules on comparables for SWD and ITeS segments; Adjudicates on working capital adjustment and other grounds

Feb 11, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-63-ITAT-2022(HYD)-TP
  • Tax Payer : ADP Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Upholds RPM as MAM subject to AMP functional intensity adjustment; Deletes BLT based protective adjustment

Feb 11, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-62-ITAT-2022(DEL)-TP
  • Tax Payer : Luxottica India Eyewear Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds deferred AE receivable as international transaction; Imputes LIBOR+2% as ALP interest on O/s receivables

Feb 10, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-59-ITAT-2022(Bang)-TP
  • Tax Payer : Swiss Re Global Business Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits verification of similarity of current year facts and law qua APA for subsequent years; Admits supporting evidences

Feb 10, 2022
  • In Favour of Assessee
  • Citation Number : TS-58-ITAT-2022(CHNY)-TP
  • Tax Payer : Sanmina – SCI India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee’s aggregation of closely linked transactions for ALP determination; Follows precedent

Feb 10, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-56-ITAT-2022(Bang)-TP
  • Tax Payer : Societe General Global Solution Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables; Excludes 3, remits 6 for verification; Denies negative working-capital adjustment

Feb 10, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-60-ITAT-2022(Bang)-TP
  • Tax Payer : Harman Connected Services Corporation India Private Limited (formerly known as Core Objects India Private Limited)
Income tax Appellate Tribunal

ITAT: Upholds provision for bad debts as ‘operating’; Denies lease rental adjustment on unutilized capacity

Feb 10, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-49-ITAT-2022(CHNY)-TP
  • Tax Payer : MPS Technologies Ltd
Income tax Appellate Tribunal

ITAT: Directs conditional deletion of Bharti Airtel’s TP-adjustment on notional AE-interest; Distinguishes from prior-AY

Feb 10, 2022
  • In Favour of Both, Partially
  • Citation Number : TS-57-ITAT-2022(DEL)-TP
  • Tax Payer : Bharti Airtel Services Limited