Rulings ( 11519 results )
High Court
HC: Sets-aside assessment order over non-intimation of DRP-reference; Directs completion of assessment basis DRP's directions
Nov 25, 2021
- In Favour of Assessee
- Citation Number : TS-587-HC-2021(BOM)-TP
- Tax Payer : Sulzer Pumps India Private Limited
High Court
HC: Dismisses Revenue's appeal against comparables' selection; Fact-finding by ITAT not perverse
Nov 24, 2021
- In Favour of Assessee
- Citation Number : TS-584-HC-2021(BOM)-TP
- Tax Payer : LIIP Advisory India Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Deletes/ restricts royalty rate to 0.75% & corporate guarantee fee to 0.30% for Dabur, Follows precedents
Nov 24, 2021
- In Favour of Both, Partially
- Citation Number : TS-585-ITAT-2021(DEL)-TP
- Tax Payer : Dabur India Ltd
Income tax Appellate Tribunal
ITAT: Revisionary powers not exercisable against void final assessment order passed sans draft order; Follows precedents
Nov 19, 2021
- In Favour of Assessee
- Citation Number : TS-582-ITAT-2021(Kol)-TP
- Tax Payer : Manorama Devi Jaiswal
Income tax Appellate Tribunal
ITAT: Restores ALP determination for export of rice to AEs, Follows precedent
Nov 19, 2021
- In Favour of Both, Partially
- Citation Number : TS-583-ITAT-2021(DEL)-TP
- Tax Payer : TRL Riceland Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Assessment order passed without adhering to DRP directions non-est, not revisable u/s 263
Nov 19, 2021
- In Favour of Assessee
- Citation Number : TS-581-ITAT-2021(DEL)-TP
- Tax Payer : L.G. Electronics Inc Ltd.
High Court
HC: Derides Revenue for challenging ITAT order in ritualistic manner, dismisses Revenue’s appeal as devoid of merits
Nov 18, 2021
- In Favour of Assessee
- Citation Number : TS-580-HC-2021(BOM)-TP
- Tax Payer : 3i India Private Limited
Income tax Appellate Tribunal
ITAT: Remits TP-adjustment w.r.t purchase of formulations made on account of difference in ALP
Nov 17, 2021
- In Favour of Both, Partially
- Citation Number : TS-399-ITAT-2013(DEL)-TP
- Tax Payer : Eli Lilly & Co (India) Pvt Ltd
Income tax Appellate Tribunal
ITAT: Excludes functionally dissimilar companies for captive software service provider; follows precedents
Nov 17, 2021
- In Favour of Both, Partially
- Citation Number : TS-577-ITAT-2021(Bang)-TP
- Tax Payer : LG Soft India P. Ltd
Income tax Appellate Tribunal
ITAT: Excludes functionally dissimilar KPO companies for ITES provider; Holds foreign exchange fluctuation as ‘operating’
Nov 17, 2021
- In Favour of Assessee
- Citation Number : TS-579-ITAT-2021(DEL)-TP
- Tax Payer : Future First Info. Services Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Restores Timex’s AMP-adjustment, directs consistency with SC's directions on pending matters
Nov 17, 2021
- In Favour of Both, Partially
- Citation Number : TS-578-ITAT-2021(DEL)-TP
- Tax Payer : Timex Group India Limited
High Court
HC: Draft assessment order mandatory even for remand cases, issue no more res-integra
Nov 12, 2021
- In Favour of Assessee
- Citation Number : TS-576-HC-2021(KAR)-TP
- Tax Payer : Cisco Systems Capital (India) Pvt.Ltd.
Income tax Appellate Tribunal
ITAT: Deletes twin TP-adjustment on payment of export commission and export royalty; Follows earlier order
Nov 11, 2021
- In Favour of Assessee
- Citation Number : TS-575-ITAT-2021(DEL)-TP
- Tax Payer : Honda Motorcycle and Scooter India Private Limited
Income tax Appellate Tribunal
ITAT: Rejects aggregated TNMM approach for royalty, directs application of external-CUP; rules on various IGS
Nov 11, 2021
- In Favour of Both, Partially
- Citation Number : TS-574-ITAT-2021(DEL)-TP
- Tax Payer : Johnson Matthey India P. Ltd
Income tax Appellate Tribunal
ITAT: Allows functional, marketing, competition related adjustments to non-AE sales-price for computing ALP under CUP
Nov 10, 2021
- In Favour of Assessee
- Citation Number : TS-573-ITAT-2021(Mum)-TP
- Tax Payer : FDC Limited
Income tax Appellate Tribunal
ITAT: Excludes functionally dissimilar comparables, Upholds unobjected margin qua 1st round of appellate proceedings
Nov 10, 2021
- In Favour of Both, Partially
- Citation Number : TS-571-ITAT-2021(DEL)-TP
- Tax Payer : Fiserv CE Private Limited
Income tax Appellate Tribunal
ITAT: Adjudicates on IT & ITES comparables; Remits issues wrt working-capital adjustment and provisions written-back
Nov 10, 2021
- In Favour of Both, Partially
- Citation Number : TS-569-ITAT-2021(Bang)-TP
- Tax Payer : First Advantage Global Operating Centre Pvt Ltd (Formerly known as First Advantage Offshore Services Pvt. Ltd.,)
Income tax Appellate Tribunal
ITAT: Remits assessee’s functional characterization and TP-adjustment on receivables, follows earlier order
Nov 10, 2021
- In Favour of Both, Partially
- Citation Number : TS-570-ITAT-2021(DEL)-TP
- Tax Payer : Dassault Systems India Pvt Ltd
Income tax Appellate Tribunal
ITAT: Remits grant of negative working capital adjustment, rules on comparables for SWD segment; Follows precedents
Nov 10, 2021
- In Favour of Both, Partially
- Citation Number : TS-572-ITAT-2021(Bang)-TP
- Tax Payer : Aptean India Pvt. Ltd
Income tax Appellate Tribunal
ITAT: Upholds TP adjustment on management fees for lack of relevant documentary evidence
Nov 08, 2021
- In Favour of Revenue
- Citation Number : TS-566-ITAT-2021(CHNY)-TP
- Tax Payer : Lite-on Mobile India Pvt.Ltd