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Income tax Appellate Tribunal

ITAT: Deletes 271G penalty absent specific pinpointing of documents not maintained, 271AA penalty basis invalid notice

Dec 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-627-ITAT-2021(Mum)-TP
  • Tax Payer : Apace Realty
Income tax Appellate Tribunal

ITAT: Allows assessee’s withdrawal of appeal & denies adjudication of Revenue’s appeal, basis India–US MAP

Dec 15, 2021
  • In Favour of Assessee
  • Citation Number : TS-626-ITAT-2021(Bang)-TP
  • Tax Payer : Ribbon Communications Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables for IT-services, WIP from non-comparable activity cannot be considered for WCA

Dec 15, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-625-ITAT-2021(PUN)-TP
  • Tax Payer : ComputerLand UK Limited
Income tax Appellate Tribunal

ITAT: Accepts inter-unit cost transfers as ALP for Sec-80IC deduction; Follows precedent

Dec 15, 2021
  • In Favour of Assessee
  • Citation Number : TS-624-ITAT-2021(DEL)-TP
  • Tax Payer : Hero MotoCorp Ltd.
Income tax Appellate Tribunal

ITAT: Holds guarantee fee, interest on foreign currency loan at ALP; Deletes mark-up on pass-through costs

Dec 15, 2021
  • In Favour of Assessee
  • Citation Number : TS-623-ITAT-2021(DEL)-TP
  • Tax Payer : SRF Limited
Income tax Appellate Tribunal

ITAT: Rules on various comparables for software development service provider; Excludes seven, includes one, remits one

Dec 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-622-ITAT-2021(Bang)-TP
  • Tax Payer : Tektronix (India) P Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination for certification services; Rules on comparables for ITES

Dec 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-621-ITAT-2021(Bang)-TP
  • Tax Payer : UL India Private Ltd
Income tax Appellate Tribunal

ITAT: Though test of commercial expediency not necessary, deletes TP-adjustment qua IGS basis benefits derived

Dec 14, 2021
  • In Favour of Assessee
  • Citation Number : TS-620-ITAT-2021(DEL)-TP
  • Tax Payer : Metalsa India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes companies making abnormal-profits, undergoing acquisition/ merger as comparables for ITES provider, follows precedents

Dec 14, 2021
  • In Favour of Assessee
  • Citation Number : TS-619-ITAT-2021(Mum)-TP
  • Tax Payer : Travelex India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Quantum-deletion renders question of TP provisions' applicability on Domino's/ Dunkin-Donuts franchise agreements academic

Dec 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-618-ITAT-2021(DEL)-TP
  • Tax Payer : Jubilant Foodworks Ltd
Income tax Appellate Tribunal

ITAT: Upholds profit attribution of 10% to Bombardier’s PE, in-line with prior year’s ALP basis FAR analysis

Dec 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-612-ITAT-2021(DEL)-TP
  • Tax Payer : Bombardier (Singapore) PTE. Ltd
Income tax Appellate Tribunal

ITAT: Holds interest on AE-receivables as international transaction; However, deletes imputed interest, absent comparable data

Dec 13, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-614-ITAT-2021(HYD)-TP
  • Tax Payer : Open Text Corporation India Pvt Ltd (Cordys Software India Pvt Ltd is now merged with Open Tex Corporation India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Restores manufacturing and trading segment benchmarking issues; Directs OP/OR as PLI for trading

Dec 13, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-615-ITAT-2021(Bang)-TP
  • Tax Payer : Yokogawa India Limited
Income tax Appellate Tribunal

ITAT: Holds internal CUP as MAM for purchase/ sale transactions by Tata Coffee; Refers to appropriateness of CUP as MAM

Dec 13, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-613-ITAT-2021(Bang)-TP
  • Tax Payer : Tata Coffee Limited
Income tax Appellate Tribunal

ITAT: Upholds DRP’s classification of functions akin to ITES as BPO, not KPO; Rejects functionally dissimilar companies

Dec 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-616-ITAT-2021(Bang)-TP
  • Tax Payer : IQVIA RDS (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds Government’s promotional subsidy as capital-receipt, cannot form part of operating revenue for margin-computation

Dec 13, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-611-ITAT-2021(PUN)-TP
  • Tax Payer : Hyundai Construction Equipment India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for software developer; Deletes blanket interest on receivables, absent comparable data

Dec 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-610-ITAT-2021(HYD)-TP
  • Tax Payer : Oakton Global Technology Services Centre India Pvt Ltd
Income tax Appellate Tribunal

ITAT: No separate benchmarking for SDT costs subsumed as operating under TNMM calculation, follows precedent

Dec 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-609-ITAT-2021(Bang)-TP
  • Tax Payer : Cisco Systems Capital (India) Pvt.Ltd.
Income tax Appellate Tribunal

ITAT: Rejects 7 comparables for software developer; Allows working capital adjustment; Follows precedents

Dec 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-607-ITAT-2021(Bang)-TP
  • Tax Payer : Moog India Technology Centre Private Limited
Income tax Appellate Tribunal

ITAT: Treats royalty payment of 4% at ALP; Upholds SBI linked benchmarking for CCDs

Dec 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-606-ITAT-2021(Bang)-TP
  • Tax Payer : Praxair India Private Limited