Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Directs exclusion of comparables basis Tribunal directions in first round, TPO can exceed his brief

Dec 23, 2021
  • In Favour of Assessee
  • Citation Number : TS-647-ITAT-2021(DEL)-TP
  • Tax Payer : American Express (India) Pvt Ltd
High Court

HC: Sets-aside assessment-order finalised without DRP-directions; Objections filed within timelines as extended by CBDT

Dec 23, 2021
  • In Favour of Assessee
  • Citation Number : TS-646-HC-2021(DEL)-TP
  • Tax Payer : Fiberhome India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables for SWD and ITES segments of Finastra Software Solutions

Dec 22, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-644-ITAT-2021(Bang)-TP
  • Tax Payer : Finastra Software Solutions (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables and PLI computation for a manufacturing company

Dec 22, 2021
  • In Favour of Assessee
  • Citation Number : TS-645-ITAT-2021(Bang)-TP
  • Tax Payer : Rakon India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs ALP determination for oil & gas subcontracting services under CUP, not TNMM

Dec 22, 2021
  • In Favour of Assessee
  • Citation Number : TS-643-ITAT-2021(DDN)-TP
  • Tax Payer : Schlumberger Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Recalls co-ordinate bench order in Toyota Kirloskar's case; Allows MA for not following previous orders

Dec 22, 2021
  • In Favour of Assessee
  • Citation Number : TS-642-ITAT-2021(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motors Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits capacity adjustment, directs following IKA India principles; Remits IGS for proper disposal of objections

Dec 21, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-639-ITAT-2021(Bang)-TP
  • Tax Payer : TE Connectivity India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits imputation of notional interest on outstanding receivables to factor effect of working capital; Upholds guarantee fee of 0.75% -0.80% and LIBOR for loans to AE

Dec 21, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-640-ITAT-2021(PUN)-TP
  • Tax Payer : Wockhardt Ltd.
Income tax Appellate Tribunal

ITAT: Excludes Persistent, Infosys,etc. for SWD seg and BNR Udyog for ITES seg; Follows precedents

Dec 21, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-641-ITAT-2021(Bang)-TP
  • Tax Payer : Unisys India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds fresh TP reference mandatory for 153C proceedings; Quashes original TP-order and consequent TP-adjustment

Dec 21, 2021
  • In Favour of Assessee
  • Citation Number : TS-638-ITAT-2021(Mum)-TP
  • Tax Payer : UltraTech Cement Ltd
Income tax Appellate Tribunal

ITAT: Rejects Infosys, L&T Infotech, Persistent in line with consistent view on exclusion; Restores working-capital adjustment

Dec 20, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-636-ITAT-2021(Bang)-TP
  • Tax Payer : Tecnotree Convergence Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for SWD service provider, Remits issue on interest on outstanding AE-receivables

Dec 20, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-637-ITAT-2021(Bang)-TP
  • Tax Payer : Synamedia India Pvt Ltd (formerly known as Cisco Video Technologies India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Remits determination of MAM and ALP wrt installation and commissioning services rendered, corporate fees paid

Dec 17, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-635-ITAT-2021(Mum)-TP
  • Tax Payer : Kongsberg Maritime India Private Limited
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for resale of goods without value addition; Follows precedents

Dec 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-634-ITAT-2021(DEL)-TP
  • Tax Payer : Fujitsu India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts Employee cost / Revenue , RPT filter of 15%, extraordinary events like IPO for Societe Generale’s ITES segment

Dec 17, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-633-ITAT-2021(Bang)-TP
  • Tax Payer : Societe Generale Global Solution Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes SWD comparables basis extraordinary events, RPT filter given absence of contradictory evidence by Revenue

Dec 17, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-631-ITAT-2021(PUN)-TP
  • Tax Payer : SAS Research and Development (India) Private Limited
Income tax Appellate Tribunal

ITAT: Restricts TP addition to AE transactions; Holds payment for setup and maintenance of IT Infrastructure facility as royalty

Dec 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-632-ITAT-2021(PUN)-TP
  • Tax Payer : Bekaert Industries Private Limited
Income tax Appellate Tribunal

ITAT: Restores expenditure claim u/s 40A(2), post omission of 92BA(i); Holds person u/s 40A(2) restricted to only beneficial owner

Dec 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2021(Bang)-TP
  • Tax Payer : Sterling Urban Development Pvt. Ltd
High Court

HC: Quashes 271(1)(c) penalty, non-acceptance of assessee's claim does not tantamount to furnishing inaccurate particulars

Dec 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-629-HC-2021(DEL)-TP
  • Tax Payer : Giesecks & Devrient (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP determination of Tupperware’s management charges paid; Rejects mere production of agreement & bills

Dec 16, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-628-ITAT-2021(DEL)-TP
  • Tax Payer : Tupperware India Pvt. Ltd.