Rulings ( 11937 results )

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Income tax Appellate Tribunal

ITAT: Rejects revisionary jurisdiction qua void assessment order passed in violation of Sec 144C

  • In Favour of Assessee
  • Citation Number : TS-13-ITAT-2022(PAT)-TP
  • Tax Payer : Dina Mahabir Re-Rollers Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds internal TNMM for ALP determination; Directs segmental costs calculation basis CA’s certificate

  • In Favour of Assessee
  • Citation Number : TS-12-ITAT-2022(DEL)-TP
  • Tax Payer : In Trading Pvt Ltd
High Court

HC: Quashes AOs’ arbitrary order and consequent DRP order, Remits matter to DRP for fresh consideration

  • In Favour of Assessee
  • Citation Number : TS-707-HC-2021(KAR)-TP
  • Tax Payer : Marvell India Pvt Ltd
High Court

HC: Holds final AO order sans DRP’s directions as arbitrary, illegal and without jurisdiction/authority; Quashes it

  • In Favour of Assessee
  • Citation Number : TS-706-HC-2021(KAR)-TP
  • Tax Payer : Marvell India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes draft order passed alongwith demand & penalty notice; Cites violation of Sec 144C procedure

  • In Favour of Assessee
  • Citation Number : TS-705-ITAT-2021(Bang)-TP
  • Tax Payer : Cisco Systems Services B.V. (India Branch)
Income tax Appellate Tribunal

ITAT: Upholds revisionary order u/s 263; Directs AO to recompute TP-adjustment basis TPO’s order

  • In Favour of Revenue
  • Citation Number : TS-10-ITAT-2022(DEL)-TP
  • Tax Payer : ACTIA (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Approves aggregated TNMM-benchmarking, Upholds Dell’s royalty-payment subsumed under SWD services to be at ALP

  • In Favour of Both, Partially
  • Citation Number : TS-704-ITAT-2021(Bang)-TP
  • Tax Payer : Dell International Services India Private Limited
Income tax Appellate Tribunal

ITAT: Allows assessee’s MP, upholds royalty benchmarking on aggregated basis qua fresh comparables, Directs to consider range benefit

  • In Favour of Assessee
  • Citation Number : TS-701-ITAT-2021(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motors Pvt Ltd
High Court

HC: Quashes assessment order, restricts AO's assumption of jurisdiction by directly passing final order

  • In Favour of Assessee
  • Citation Number : TS-703-HC-2021(BOM)-TP
  • Tax Payer : Shell India Market Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs exclusion of 10 comparables for HP India Software Operations; Remits working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-702-ITAT-2021(Bang)-TP
  • Tax Payer : Hewlett Packard (India) Software Operation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes assessment order on Accenture’s ‘non-existent’ entity, albeit DRP's directions issued correctly

  • In Favour of Assessee
  • Citation Number : TS-09-ITAT-2022(Mum)-TP
  • Tax Payer : Accenture Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Allows Pfizer’s initial year marketing spend as economic adjustment; Excludes ‘pass through cost’ from cost-base

  • In Favour of Both, Partially
  • Citation Number : TS-700-ITAT-2021(Mum)-TP
  • Tax Payer : Pfizer Ltd.
Income tax Appellate Tribunal

ITAT: Accepts assessee's segmental-profitability and ALP for engineering-services; Discusses allocation keys, internal vs external TNMM

  • In Favour of Assessee
  • Citation Number : TS-08-ITAT-2022(PUN)-TP
  • Tax Payer : Neilsoft Private Limited
Income tax Appellate Tribunal

ITAT: Upholds TPO’s directions in adopting LIBOR as interest benchmark for making payments to AEs overseas

  • In Favour of Both, Partially
  • Citation Number : TS-698-ITAT-2021(HYD)-TP
  • Tax Payer : Maanaveeya Development & Finance P Ltd
Income tax Appellate Tribunal

ITAT: Directs TPO for ALP adjustment after exclusion of comparables; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-695-ITAT-2021(HYD)-TP
  • Tax Payer : Progressive Digital Media Private Limited
Income tax Appellate Tribunal

ITAT: Holds no TP adjustment warranted in absence of Revenue appeal before HC/ SC for earlier years

  • In Favour of Assessee
  • Citation Number : TS-07-ITAT-2022(DEL)-TP
  • Tax Payer : GBT India Pvt Ltd
High Court

HC: Denies writ jurisdiction, directs alternative redressal to challenge draft-order passed on non-existing transferor-company

  • In Favour of Assessee
  • Citation Number : TS-689-HC-2021(MAD)-TP
  • Tax Payer : Mando Automotive India Private Limited
High Court

HC: Quashes rejection of assessee's objections basis non-appearance before DRP, Directs adjudication on merits

  • In Favour of Revenue
  • Citation Number : TS-687-HC-2021(MAD)-TP
  • Tax Payer : Sesa Sterlite Limited
Income tax Appellate Tribunal

ITAT: Excludes forex loss from operating expenditure; remits issue on working capital adjustment

  • In Favour of Assessee
  • Citation Number : TS-679-ITAT-2021(CHNY)-TP
  • Tax Payer : Kwang Jin India Autosystems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s dismissal of assessee’s appeal against draft order instead of final assessment order

  • In Favour of Revenue
  • Citation Number : TS-683-ITAT-2021(HYD)-TP
  • Tax Payer : China State Construction Engineering (Hong Kong) Limited