Rulings ( 11521 results )

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Income tax Appellate Tribunal

ITAT: Deletes royalty ALP adjustment; Disregards TPO’s “benefit-test” application

Sep 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-409-ITAT-2021(HYD)-TP
  • Tax Payer : Niehoff of India Pvt 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-407-ITAT-2021(JODH)-TP
  • Tax Payer : PI Industries Limited
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-406-ITAT-2021(JODH)-TP
  • Tax Payer : Secure Meters Limited
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 271AA; Retrospective applicability a ‘sufficient cause’ for non-reporting

Sep 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-408-ITAT-2021(HYD)-TP
  • Tax Payer : C3i Support Services Private Limited
Income tax Appellate Tribunal

ITAT: Permits assessee’s appeal withdrawal given resolution of TP issues under Unilateral APA

Sep 13, 2021
  • In Favour of Assessee
  • Citation Number : TS-404-ITAT-2021(PUN)-TP
  • Tax Payer : Medline Industries India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes Acropetal Technologies, e-Zest Solutions amongst others for software-development service segment

Sep 09, 2021
  • In Favour of Assessee
  • Citation Number : TS-402-ITAT-2021(Bang)-TP
  • Tax Payer : Nvidia Graphics Pvt Ltd
Income tax Appellate Tribunal

ITAT: Applies internal TNMM for the purpose of benchmarking SWD segment; Follows earlier-orders

Sep 09, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-401-ITAT-2021(HYD)-TP
  • Tax Payer : Palred Technologies Ltd.
Income tax Appellate Tribunal

ITAT: Remits benchmarking of brand royalty in light of BEPS Action Plans 8-10, uses financial benefit touchstone

Sep 09, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-403-ITAT-2021(Bang)-TP
  • Tax Payer : Sasken Technologies Ltd
Income tax Appellate Tribunal

ITAT: Quashes assessment order passed on non-existent merged entity as bad-in-law; Follows Maruti Suzuki ruling

Sep 08, 2021
  • In Favour of Assessee
  • Citation Number : TS-400-ITAT-2021(PUN)-TP
  • Tax Payer : Garrett Motion Technologies (India) Private Limited
Income tax Appellate Tribunal

ITAT: Rejects recharacterization of debentures/CCD as shares; Remits ALP determination

Sep 08, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-399-ITAT-2021(PUN)-TP
  • Tax Payer : City Corporation Limited
Income tax Appellate Tribunal

ITAT: Upholds application of internal CUP to benchmark corporate guarantee; Follows precedents

Sep 08, 2021
  • In Favour of Assessee
  • Citation Number : TS-398-ITAT-2021(Mum)-TP
  • Tax Payer : Greatship (India) Ltd
Income tax Appellate Tribunal

ITAT: Excludes Rubicon Research and GVK Biosciences as comparables for captive R&D service provider

Sep 07, 2021
  • In Favour of Assessee
  • Citation Number : TS-397-ITAT-2021(Bang)-TP
  • Tax Payer : Invitrogen Bioservices India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on royalty payments made basis comparison with another controlled transaction, Follows precedents

Sep 07, 2021
  • In Favour of Assessee
  • Citation Number : TS-392-ITAT-2021(PUN)-TP
  • Tax Payer : Atlas Copco (India) Limited
Income tax Appellate Tribunal

ITAT: Remits several companies under engineering-design service segment for consideration in light of FAR-analysis

Sep 07, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-395-ITAT-2021(Bang)-TP
  • Tax Payer : GE BE Pvt Ltd
Income tax Appellate Tribunal

ITAT: Considering foreign AEs as tested party, restores ALP determination; Follows earlier-order

Sep 07, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-394-ITAT-2021(Ahd)-TP
  • Tax Payer : Sun Pharmaceuticals Industries Ltd
High Court

HC: Rejects assessee's attempt to challenge a part of Settlement Commission's order; Dismisses writ petition

Sep 07, 2021
  • In Favour of Revenue
  • Citation Number : TS-396-HC-2021(MAD)-TP
  • Tax Payer : Orchid Pharma Ltd
Income tax Appellate Tribunal

ITAT: Holds Black Money proceedings against Yashovardhan Birla jurisdictionally defective

Sep 07, 2021
  • In Favour of Assessee
  • Citation Number : TS-393-ITAT-2021(Mum)-TP
  • Tax Payer : Yashovardhan Birla
Income tax Appellate Tribunal

ITAT: Following earlier orders, remits ALP-determination w.r.t royalty-payments, management fee

Sep 06, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-391-ITAT-2021(PUN)-TP
  • Tax Payer : Carraro India Private Limited
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment to AE-transaction; Rules on SWD comparables and grants working-capital adjustment

Sep 06, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-390-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: Deletes AMP-adjustment absent agreement between assessee and AE; Accepts RPM as MAM for trading-segment

Sep 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-389-ITAT-2021(Mum)-TP
  • Tax Payer : Bristol Myers Squibb India Private Limited