Rulings ( 11521 results )

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Income tax Appellate Tribunal

ITAT: Characterizes assessee as risk mitigated contract service provider; Rejects negative working-capital adjustment

Sep 21, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-428-ITAT-2021(Bang)-TP
  • Tax Payer : Marlabs Innovations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on comparables, risk adjustment, working capital adjustment and more

Sep 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-427-ITAT-2021(DEL)-TP
  • Tax Payer : Corning Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment on brand development charges; Follows earlier order

Sep 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-426-ITAT-2021(CHNY)-TP
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Following precedents, excludes comparables for ITES & SWD segment; Treats forex fluctuations as operating

Sep 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-425-ITAT-2021(Bang)-TP
  • Tax Payer : Lam Research (India) Private Limited
Income tax Appellate Tribunal

ITAT: Applies India-US MAP margin for non-US AE-transactions for ITeS provider

Sep 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-424-ITAT-2021(Bang)-TP
  • Tax Payer : IHS Global P. Ltd, (formerly IHS Parts Management P. Ltd)
Income tax Appellate Tribunal

ITAT: No revisionary powers against void final assessment order passed sans draft order

Sep 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-422-ITAT-2021(Kol)-TP
  • Tax Payer : Mohan Jute Bags Mfg. Co
High Court

HC: Dismisses Revenue’s appeals against comparables' exclusion; Finds no substantial question of law

Sep 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-423-HC-2021(DEL)-TP
  • Tax Payer : Freescale Semiconductor India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes Sec.263-order; Mismatch in amount paid to related-persons u/s.40A(2)(b) doesn’t warrant TPO-reference

Sep 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-421-ITAT-2021(Bang)-TP
  • Tax Payer : Origami Cellulo Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats forex gain as operating in nature; Excludes 6 comparables for ITeS-provider

Sep 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-420-ITAT-2021(Mum)-TP
  • Tax Payer : Tech Mahindra Business Services Limited
Income tax Appellate Tribunal

ITAT: Remits capacity underutilization adjustment, treats forex loss as operating; Follows precedents

Sep 16, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-416-ITAT-2021(Bang)-TP
  • Tax Payer : Flint Group India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Permits Fidelity Business Services to withdrawal appeal given resolution under MAP

Sep 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-417-ITAT-2021(Bang)-TP
  • Tax Payer : Fidelity Business Services India Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal against ITAT order on comparables; Cites low-tax effect

Sep 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-418-HC-2021(MAD)-TP
  • Tax Payer : C H Robinson Worldwide Freight India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Infosys BPO, Cross Domain Solutions for ITeS-provider; Remits working capital plea

Sep 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-419-ITAT-2021(Bang)-TP
  • Tax Payer : Global e-Business Operations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits capacity under-utilization adjustment, highlights TPO's power for collation of comparables' information u/s 133(6)

Sep 15, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-414-ITAT-2021(Bang)-TP
  • Tax Payer : Pact Closure Systems (India) Private Limited
Income tax Appellate Tribunal

ITAT: Directs examination of nature of assistance - letter of comfort or corporate guarantee; Remits TP-adjustment

Sep 15, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-413-ITAT-2021(DEL)-TP
  • Tax Payer : DLF Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment in respect of SDT w.r.t purchase/ sale transaction

Sep 15, 2021
  • In Favour of Assessee
  • Citation Number : TS-415-ITAT-2021(Mum)-TP
  • Tax Payer : Jayant Agro Organics Limited
Income tax Appellate Tribunal

ITAT: Quashes Sec. 263 order; Assessment sans TPO reference not erroneous/ prejudicial to Revenue

Sep 14, 2021
  • In Favour of Assessee
  • Citation Number : TS-410-ITAT-2021(JODH)-TP
  • Tax Payer : Ravindra Heraeus Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Dismisses assessee's MA seeking rectification of Tribunal order on corporate guarantee

Sep 14, 2021
  • In Favour of Revenue
  • Citation Number : TS-411-ITAT-2021(Mum)-TP
  • Tax Payer : Piramal Enterprises Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s cross appeal, deletes TP adjustment on intra-group services

Sep 14, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-412-ITAT-2021(DEL)-TP
  • Tax Payer : AT Kearney Ltd
Income tax Appellate Tribunal

ITAT: Quashes three Sec 263 revisionary orders given assessment order not ‘prejudicial to Revenue’

Sep 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-405-ITAT-2021(JODH)-TP
  • Tax Payer : Wolkem India Limited