Rulings ( 11521 results )

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Income tax Appellate Tribunal

ITAT: Grants further stay-extension of 3 months; Assessee not to seek adjournment unless necessary

Oct 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-1264-ITAT-2020(CHNY)-TP
  • Tax Payer : Doosan Power Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Denies further extension of stay given expiry of multiple stay extensions granted earlier

Oct 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-489-ITAT-2021(CHNY)-TP
  • Tax Payer : LLM Appliances Pvt Ltd
Income tax Appellate Tribunal

ITAT: Extends stay of demand for additional two months, acknowledges pendency of rectification application

Oct 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-488-ITAT-2021(CHNY)-TP
  • Tax Payer : Aban Offshore Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee's MA; Recalls Tribunal order for adjudicating on TP issues

Oct 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-487-ITAT-2021(Mum)-TP
  • Tax Payer : Swiss Re Services India Private Ltd
Income tax Appellate Tribunal

ITAT: No negative working capital adjustment for captive service provider; Follows precedents

Oct 06, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-485-ITAT-2021(Bang)-TP
  • Tax Payer : Kronos Systems India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Allows Revenue’s MA; Recalls Tribunal-order for adjudicating adjustment w.r.t interest on AE-loan

Oct 06, 2021
  • In Favour of Revenue
  • Citation Number : TS-486-ITAT-2021(Mum)-TP
  • Tax Payer : Laqshya Media Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds corporate guarantee commission of 0.5% at ALP; Follows precedents

Oct 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-484-ITAT-2021(Mum)-TP
  • Tax Payer : Dorf Ketal Chemicals India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants conditional stay for six months; Directs additional payment of INR 10 lacs

Oct 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-482-ITAT-2021(Bang)-TP
  • Tax Payer : Borqs Software Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores ALP determination for management charges; Directs AO to follow earlier-order

Oct 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-483-ITAT-2021(Bang)-TP
  • Tax Payer : Waters (India) Pvt Ltd
High Court

HC: Sets aside final assessment-order and all subsequent actions arising therefrom; DRP directions not received

Oct 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-481-HC-2021(CAL)-TP
  • Tax Payer : Lexmark International (India) Pvt. Limited
High Court

HC: Allows assessee’s writ; Condones assessee’s delay in filing objections before DRP

Oct 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-480-HC-2021(BOM)-TP
  • Tax Payer : Prothious Engineering Services Private Limited
Income tax Appellate Tribunal

ITAT: Allows assessee’s MA; Deletes TP adjustment pertaining to interest on receivables

Oct 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-478-ITAT-2021(HYD)-TP
  • Tax Payer : HBL Power Systems Limited
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s Sec 271G penalty deletion for diamond merchant; Follows precedents

Oct 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-479-ITAT-2021(Mum)-TP
  • Tax Payer : Dharmanandan Diamonds (P) Ltd
Income tax Appellate Tribunal

ITAT: Regards corporate-guarantee as international-transaction; Follows non-jurisdictional HC decision over assessee’s own case

Oct 04, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-475-ITAT-2021(Mum)-TP
  • Tax Payer : Siro Clinpharm Private Limited
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for software developer; Grants working capital adjustment

Oct 04, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-476-ITAT-2021(Bang)-TP
  • Tax Payer : EIT Services India Pvt. Ltd. (formerly known as Hewlett Packard Global Soft Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM for closely linked export and import transaction; Remits capacity utilization adjustment

Oct 04, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-473-ITAT-2021(Bang)-TP
  • Tax Payer : Wieland Metals India Private Ltd
Income tax Appellate Tribunal

ITAT: Rejects re-characterization of assessee’s support services as trading activity; Deletes TP adjustment

Oct 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-474-ITAT-2021(DEL)-TP
  • Tax Payer : Ikea Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds re-classification of merchandising trade as finance arrangement, directs re-computation of TP-adjustment

Oct 04, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-477-ITAT-2021(DEL)-TP
  • Tax Payer : Louis Dreyfus Commodities India Pvt Ltd
High Court

HC: Analyses DRP's powers on income-enhancement not proposed in draft-order; Dismisses assessee's writ

Oct 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-472-HC-2021(MAD)-TP
  • Tax Payer : Delphi TVS Diesel Systems Ltd
Income tax Appellate Tribunal

ITAT: Upholds application of credit BB rating for benchmarking AE-interest received; Distinguishes Bharti Airtel

Oct 04, 2021
  • In Favour of Revenue
  • Citation Number : TS-468-ITAT-2021(DEL)-TP
  • Tax Payer : Uniparts India Ltd