Rulings ( 11521 results )

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Income tax Appellate Tribunal

ITAT: Restricts guarantee-commission ALP @ 0.875%; Deletes TP-adjustment on AE interest-receivables

Sep 28, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-449-ITAT-2021(HYD)-TP
  • Tax Payer : Synergies Castings Limited
Income tax Appellate Tribunal

ITAT: Restores TP-adjustments for ECB interest-paid, AE-interest receivable; Directs closure within three effective hearings

Sep 28, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-447-ITAT-2021(HYD)-TP
  • Tax Payer : Progress Software Development Private Limited
Income tax Appellate Tribunal

ITAT: Restores TP-adjustment for management support services for document examination; Directs AO to follow earlier-order

Sep 28, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-448-ITAT-2021(Mum)-TP
  • Tax Payer : Megger India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores comparability of 10 companies; Treats depreciation as operating & sale of tools as non-operating

Sep 28, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-446-ITAT-2021(DEL)-TP
  • Tax Payer : FMI Automotive Components Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Grants further stay-extension of 3 months; Delay in appeal-disposal not attributable to assessee

Sep 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-443-ITAT-2021(CHNY)-TP
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)’s decision determining ALP of corporate-guarantee fee at 0.5%; Applies rule of consistency

Sep 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-444-ITAT-2021(Mum)-TP
  • Tax Payer : Network 18 Media & Investment Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee’s-MP, Treats provision for bad and doubtful debts as operating in nature

Sep 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-445-ITAT-2021(Bang)-TP
  • Tax Payer : Evolving Systems Networks India Pvt Ltd
Supreme Court

SC: Considering “near normal” situation, reverts to earlier order on limitation w.e.f. October 3

Sep 26, 2021
  • In Favour of None/NA
  • Citation Number : TS-442-SC-2021-TP
  • Tax Payer : In Re Cognizance For Extension Of Limitation
Income tax Appellate Tribunal

ITAT: No further profit attribution to alleged-PE if Indian-AE remunerated at ALP

Sep 24, 2021
  • In Favour of Assessee
  • Citation Number : TS-440-ITAT-2021(Mum)-TP
  • Tax Payer : Mobileum Inc
Income tax Appellate Tribunal

ITAT: Occurrence of extra-ordinary event a valid reason for excluding a comparable; Remits ALP determination

Sep 24, 2021
  • In Favour of Assessee
  • Citation Number : TS-439-ITAT-2021(PUN)-TP
  • Tax Payer : Optiva India Technologies Private Limited
Income tax Appellate Tribunal

ITAT: Remits ALP-determination w.r.t trademark license-fees after fresh verification of evidence filed by assessee

Sep 23, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-437-ITAT-2021(PUN)-TP
  • Tax Payer : TRUMPF India Private Limited
Income tax Appellate Tribunal

ITAT: Adjudicates on negative working capital adjustment, treatment of forex and selection of comparables

Sep 23, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-435-ITAT-2021(Bang)-TP
  • Tax Payer : CISCO Systems BV India Branch
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment on SDT transactions for transfer of electric power and steam

Sep 23, 2021
  • In Favour of Assessee
  • Citation Number : TS-438-ITAT-2021(DEL)-TP
  • Tax Payer : Nectar Lifesciences Ltd
High Court

HC: Sets aside assessment order passed sans DRP direction; Revenue regards Covid induced limitation extension

Sep 23, 2021
  • In Favour of Assessee
  • Citation Number : TS-436-HC-2021(MAD)-TP
  • Tax Payer : Ford India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on CIT(A)'s power, assessee's characterisation, comparables selection & more!

Sep 22, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-433-ITAT-2021(Mum)-TP
  • Tax Payer : Mindcrest (India) Pvt Ltd.
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on AE interest receivable; Rejects notional treatment of capital infusion as loan

Sep 22, 2021
  • In Favour of Assessee
  • Citation Number : TS-434-ITAT-2021(DEL)-TP
  • Tax Payer : Jaypee Capital Services Ltd
High Court

HC: Emphasises AO's reassessment-powers even in absence of final assessment-order; Stresses on "object" of re-opening

Sep 22, 2021
  • In Favour of Revenue
  • Citation Number : TS-432-HC-2021(MAD)-TP
  • Tax Payer : Kone Elevator India Private Limited
Income tax Appellate Tribunal

ITAT: DRP cannot condone delays in filing objections; Consequent appeal lies before CIT(A), not ITAT

Sep 21, 2021
  • In Favour of Revenue
  • Citation Number : TS-431-ITAT-2021(Bang)-TP
  • Tax Payer : Lam Research (India) Private Limited
Income tax Appellate Tribunal

ITAT: Allows assessee's Miscellaneous Application; acknowledges inadvertent missing out of comparable

Sep 21, 2021
  • In Favour of Assessee
  • Citation Number : TS-430-ITAT-2021(Bang)-TP
  • Tax Payer : Acuity Knowledge Center (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on interest on delayed AE-receivables; Follows earlier orders

Sep 21, 2021
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2021(DEL)-TP
  • Tax Payer : American Express (India) Pvt Ltd