Rulings ( 11521 results )

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Income tax Appellate Tribunal

ITAT: Remits selection of comparables for Gherkins-exporter; Treats export incentive and scrap sales receipt as part of operating income

Aug 30, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-366-ITAT-2021(Bang)-TP
  • Tax Payer : Reitzel India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats amortization of goodwill and non-compete fee as non-operating, to be excluded for TNMM computation

Aug 30, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-370-ITAT-2021(DEL)-TP
  • Tax Payer : DHR Holding India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants major TP relief to Bennett Coleman for interest-free debt-funding to overseas-SPV

Aug 30, 2021
  • In Favour of None/NA
  • Citation Number : TS-367-ITAT-2021(Mum)-TP
  • Tax Payer : Bennett Coleman & Co Ltd
Income tax Appellate Tribunal

ITAT: Allows mark-up charged on services received; Rejects revenue's contention of better synergies to parent company

Aug 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-364-ITAT-2021(DEL)-TP
  • Tax Payer : Humboldt Wedag India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Directs TPO to undertake fresh benchmarking for royalty-adjustment on providing opportunity to assessee; Follows earlier orders

Aug 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-363-ITAT-2021(DEL)-TP
  • Tax Payer : AT&T Global Network Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds assessment order null and barred by limitation u/s 153; Dismisses Revenue’s appeal

Aug 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-362-ITAT-2021(Kol)-TP
  • Tax Payer : PCM Stresscon Overseas Ventures Ltd
Income tax Appellate Tribunal

ITAT: Directs TPO to provide opportunity of being heard to assessee; Remits entire TP issue

Aug 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-365-ITAT-2021(DEL)-TP
  • Tax Payer : Atrenta (India) Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on AE interest receivables benchmarked using SBI term deposit rate

Aug 26, 2021
  • In Favour of Assessee
  • Citation Number : TS-360-ITAT-2021(HYD)-TP
  • Tax Payer : S&P Capital IQ (India) Private Limited
Income tax Appellate Tribunal

ITAT: Excludes E-Zest Solutions Limited and Softsol India Limited for software-developer; Follows GXS India ruling

Aug 26, 2021
  • In Favour of Assessee
  • Citation Number : TS-361-ITAT-2021(Bang)-TP
  • Tax Payer : Dell International Services India Private Limited
Income tax Appellate Tribunal

ITAT: Rejects TP-adjustment qua import-duty; Remits capacity-utilization adjustment qua personnel-cost

Aug 26, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-357-ITAT-2021(DEL)-TP
  • Tax Payer : Keihin Automotive India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds corporate guarantee as international transaction; Directs ALP adjustment on actual amount utilised

Aug 26, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-356-ITAT-2021(HYD)-TP
  • Tax Payer : Rain Industries Ltd
High Court

HC: Upholds re-assessment despite Form-3CEB disclosure; Overrules Single-Judge ruling placing onus on AO to peruse TP-order

Aug 26, 2021
  • In Favour of Revenue
  • Citation Number : TS-359-HC-2021(MAD)-TP
  • Tax Payer : Daimler India Commercial Vehicles Private Limited
High Court

HC: Pardons belated-compliance to delete 271G-penalty, cites TPO's satisfaction; Upholds validity of TPO's notice u/s 92D(3)

Aug 26, 2021
  • In Favour of Assessee
  • Citation Number : TS-358-HC-2021(MAD)-TP
  • Tax Payer : SSL-TTK Ltd
Income tax Appellate Tribunal

ITAT: Quashes revisionary-order passed by CIT u/s 263; Discusses interplay of ALP and Sec-40(a) allowance

Aug 25, 2021
  • In Favour of Assessee
  • Citation Number : TS-355-ITAT-2021(Bang)-TP
  • Tax Payer : 3M India Limited
Income tax Appellate Tribunal

ITAT: Remits assessee’s functional-characterisation issue back to TPO; Holds berry ratio academic

Aug 25, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-354-ITAT-2021(PUN)-TP
  • Tax Payer : Geico Paint Shop India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds benchmarking FCD interest payment using SIBOR rate; Applies rule of consistency

Aug 24, 2021
  • In Favour of Revenue
  • Citation Number : TS-352-ITAT-2021(HYD)-TP
  • Tax Payer : Devgen Seeds & Crop Technology Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes penalty-notice as vague/ambiguous; Absence of overt act of suppression eliminates Explanation 7 invocation

Aug 24, 2021
  • In Favour of Assessee
  • Citation Number : TS-353-ITAT-2021(DEL)-TP
  • Tax Payer : CLIX Finance India Pvt Ltd
High Court

HC: Quashes TPO-reference made without granting hearing opportunity; Considers TP proceedings an integral part of assessments

Aug 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-351-HC-2021(GUJ)-TP
  • Tax Payer : HITACHI HI REL POWER ELECTRONICS PVT LTD
Income tax Appellate Tribunal

ITAT: Directs inclusion of Bodhtree-Consulting citing assesee's failure to demonstrate error in TP-study; Allows working-capital adjustment

Aug 20, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-350-ITAT-2021(DEL)-TP
  • Tax Payer : ST Microelectronics Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats provision written back as operating, grants working-capital adjustment; Restricts TP-adjustment to AE transaction

Aug 20, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-349-ITAT-2021(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motors Private Limited