Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Upholds RBI approved royalty payment rate of 5% as against subsequent year revised rate of 4%; Follows precedent in principle

Dec 30, 2021
  • In Favour of Assessee
  • Citation Number : TS-668-ITAT-2021(HYD)-TP
  • Tax Payer : Owens Corning Industries (India) Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Excludes L&T Infotech, Persistent Systems, Rejects negative working capital adjustment for SWD service-provider

Dec 29, 2021
  • In Favour of Assessee
  • Citation Number : TS-665-ITAT-2021(Bang)-TP
  • Tax Payer : Fiberlink Software Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects negative working capital adjustment for captive SWD provider; rules on selection of comparables

Dec 29, 2021
  • In Favour of Assessee
  • Citation Number : TS-666-ITAT-2021(Bang)-TP
  • Tax Payer : GXS India Technology Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in Dell International Services' case, Excludes seven, remits two

Dec 29, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-664-ITAT-2021(Bang)-TP
  • Tax Payer : Dell International Services India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds RPM for trading segment & CPM for manufacturing segment, sans contradictory evidence; Follows precedents

Dec 28, 2021
  • In Favour of Assessee
  • Citation Number : TS-663-ITAT-2021(Bang)-TP
  • Tax Payer : A.O. Smith India Water Products Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on various aspects of ALP determination for manufacturing segment and IGS, follows precedents

Dec 28, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-662-ITAT-2021(Bang)-TP
  • Tax Payer : SKF Engineering and Lubrication India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables; Remits capacity, working capital, risk adjustment etc., follows Baracuda Networks

Dec 28, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-661-ITAT-2021(Bang)-TP
  • Tax Payer : Atmecs Technologies Private Limited
Income tax Appellate Tribunal

ITAT: Remits comparability issue for a forwarding and logistics company

Dec 27, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-656-ITAT-2021(Bang)-TP
  • Tax Payer : Kintetsu World Express India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds corporate-guarantee as international-transaction and approves 0.5% ALP addition; follows Everest Kanto and Redington

Dec 27, 2021
  • In Favour of Revenue
  • Citation Number : TS-655-ITAT-2021(DEL)-TP
  • Tax Payer : PCI Limited
Income tax Appellate Tribunal

ITAT: Restores BBC's case for verification of mark-up on costs, Highlights assessee’s onus to substantiate

Dec 27, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-660-ITAT-2021(DEL)-TP
  • Tax Payer : BBC World Service India Pvt Ltd
High Court

HC: Quashes LG Soft's assessment-order passed sans DRP directions, directs following of Sec 144C procedure

Dec 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-659-HC-2021(KAR)-TP
  • Tax Payer : LG Soft India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits differential customs-duty and working-capital adjustment for automotive component manufacturer; Rules on operating/non-operating expenses

Dec 24, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-657-ITAT-2021(CHNY)-TP
  • Tax Payer : Doowon Automotive Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds application of upper turnover filter, working capital adjustment at actuals; Rules on comparables for SWD and MSS

Dec 24, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-658-ITAT-2021(Bang)-TP
  • Tax Payer : Sandisk India Device Design Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for Samsung R&D Institute; Excludes 4, includes 2 and remits 2

Dec 24, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-653-ITAT-2021(Bang)-TP
  • Tax Payer : Samsung R&D Institute India Bangalore Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits issues on adjustments qua capacity, customs duty, forex fluctuations; Rules on comparables

Dec 24, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-654-ITAT-2021(Bang)-TP
  • Tax Payer : Continental Automotive Components (India) Pvt. Ltd
High Court

HC: After Delhi and Bombay, Karnataka-HC quashes assessment-order passed without DRP-directions, factors time-limit extension by CBDT

Dec 24, 2021
  • In Favour of Assessee
  • Citation Number : TS-649-HC-2021(KAR)-TP
  • Tax Payer : Azuga Telematics Private Limited
Income tax Appellate Tribunal

ITAT: Rejects effective interest basis moratorium on Biocon’s loan to subsidiary, remits to also consider effect of working capital adjustment

Dec 23, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-652-ITAT-2021(Bang)-TP
  • Tax Payer : Biocon Ltd
Income tax Appellate Tribunal

ITAT: Directs exclusion of Axis Integrated Systems, Just Dial & Killick Agencies & Marketing Ltd as comparables for Nokia India

Dec 23, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-651-ITAT-2021(DEL)-TP
  • Tax Payer : Nokia India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rules on IT/ITES comparables.; Rejects negative working-capital adjustment for captive service-provider

Dec 23, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-650-ITAT-2021(Bang)-TP
  • Tax Payer : Arctern Consulting Pvt Ltd
High Court

HC: Dismisses Revenue's appeal citing low tax-effect, keeps Sec 10A and TP-issues open for future adjudication

Dec 23, 2021
  • In Favour of Revenue
  • Citation Number : TS-648-HC-2021(MAD)-TP
  • Tax Payer : Brigade Corporation India Pvt. Ltd.