Rulings ( 11519 results )

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Income tax Appellate Tribunal

ITAT: Remits TP-adjustment on intra group services; Rejects TPO’s NIL ALP determination

Oct 20, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-526-ITAT-2021(Bang)-TP
  • Tax Payer : Lifestyle International (P) Limited
Income tax Appellate Tribunal

ITAT: Rejects Eclerx and TCS E-Serve for ITeS captive-service provider; Deletes outstanding AE-receivables TP-adjustment

Oct 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-527-ITAT-2021(DEL)-TP
  • Tax Payer : CPA Global Support Services India Private Limited
Income tax Appellate Tribunal

ITAT: Stays demand, subject to refund adjustment of 20%, considering favourable precedents

Oct 19, 2021
  • In Favour of Assessee
  • Citation Number : TS-1265-ITAT-2020(CHNY)-TP
  • Tax Payer : Virtusa Consulting Services Private Limited
Income tax Appellate Tribunal

ITAT: Grants stay basis prima-facie case, subject to payment/ refund adjustment for 20% of demand

Oct 19, 2021
  • In Favour of Assessee
  • Citation Number : TS-525-ITAT-2021(HYD)-TP
  • Tax Payer : Infor (India) Private Limited
Income tax Appellate Tribunal

ITAT: Upholds ALP of interest-free AE-loan at LIBOR+300bps, quotes earlier-order; Acknowledges suo-motu adjustment

Oct 18, 2021
  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2021(Mum)-TP
  • Tax Payer : Air Works India (Engineering) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Eliminates Just Dial as comparable, cites difference in nature of services & business model

Oct 18, 2021
  • In Favour of Assessee
  • Citation Number : TS-524-ITAT-2021(PUN)-TP
  • Tax Payer : Garrett Motion Technologies (India) Private Limited
Income tax Appellate Tribunal

ITAT: Upholds assessee's CUP over TPO’s TNMM; Accepts application of customs database, follows precedent

Oct 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-521-ITAT-2021(DEL)-TP
  • Tax Payer : TRL Riceland Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for software development segment; Remits 10 & Excludes 2 comparables

Oct 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-523-ITAT-2021(Bang)-TP
  • Tax Payer : Arista Networks India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s LIBOR+5% rate for AE loans; Rules on comparables for SWD, manufacturing activity & more!

Oct 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-520-ITAT-2021(DEL)-TP
  • Tax Payer : Omaxe Ltd
Income tax Appellate Tribunal

ITAT: Companies having export-turnover functionally dissimilar to ones operating in domestic-market; Remits ALP determination

Oct 14, 2021
  • In Favour of Assessee
  • Citation Number : TS-522-ITAT-2021(DEL)-TP
  • Tax Payer : BWI Automotive Technologies Pvt Ltd
High Court

HC: Cannot consider one-sided benefit for TP-adjustment on delayed AE receivables; Dismisses Revenue’s appeal

Oct 14, 2021
  • In Favour of Assessee
  • Citation Number : TS-518-HC-2021(DEL)-TP
  • Tax Payer : Mckinsey Knowledge Centre India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects use of international CUP for benchmarking purchase transactions qua India, cites geographical differences

Oct 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-517-ITAT-2021(PUN)-TP
  • Tax Payer : Mubea Automotive India Private Limited (known as Mubea Automotive Components India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Remits AMP-adjustment for establishing existence of international-transaction, separation from royalty-payment; Follows precedent

Oct 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-513-ITAT-2021(Bang)-TP
  • Tax Payer : Kontoor Brands India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment on intra-group services and interest on AE receivables

Oct 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-514-ITAT-2021(DEL)-TP
  • Tax Payer : Avery Dennison (India) P Ltd
Income tax Appellate Tribunal

ITAT: Upholds TP-adjustment on sale of land to AE; Grants 90-day grace before charging interest

Oct 13, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-515-ITAT-2021(Mum)-TP
  • Tax Payer : Baker Hughes Oilfield Services India P. Ltd
Income tax Appellate Tribunal

ITAT: Upholds revisionary proceedings; Assessment order passed without TPO's report despite TP reference

Oct 13, 2021
  • In Favour of Revenue
  • Citation Number : TS-512-ITAT-2021(DEL)-TP
  • Tax Payer : JNS Instruments Ltd
Income tax Appellate Tribunal

ITAT: Upholds non-applicability of Sec 271(G) penalty; TP documents furnished immediately after second notice

Oct 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-510-ITAT-2021(DEL)-TP
  • Tax Payer : WIPRO GE Health Care Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271J penalty; Assessee not an ‘accountant’, ‘merchant banker’ or ‘registered valuer’

Oct 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-509-ITAT-2021(DEL)-TP
  • Tax Payer : Danfoss Power Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants further stay extension of 6 months to Google India; Follows Pepsi Foods

Oct 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-507-ITAT-2021(Bang)-TP
  • Tax Payer : Google India Private Limited
Income tax Appellate Tribunal

ITAT: Applying Autodesk ruling, excludes 6 comparables for software development segment; Restores TP adjustment

Oct 12, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-511-ITAT-2021(Bang)-TP
  • Tax Payer : Biesse Manufacturing Company Private Limited