Transfer Pricing Alert Rulings

Income tax Appellate Tribunal

ITAT: Non-compliance of single DRP's direction does not invalidate entire assessment order

Jul 01, 2021

In Favour of Both, Partially
Citation Number : TS-265-ITAT-2021(Mum)-TP
Tax Payer : Red Hat India Private Limited

Income tax Appellate Tribunal

ITAT: Excludes Acropetal, eClerx as comparables for assessee in ITeS; Follows earlier order

Jul 01, 2021

In Favour of Assessee
Citation Number : TS-264-ITAT-2021(Mum)-TP
Tax Payer : Tech Mahindra Business Services Ltd. (formerly known as Hutchison Global Services Private Limited)

Income tax Appellate Tribunal

ITAT: Excludes 2 companies for SWD, IT support and related services segments; Allows working-capital adjustment

Jul 01, 2021

In Favour of Assessee
Citation Number : TS-263-ITAT-2021(Mum)-TP
Tax Payer : Emerson Electric Company (India) Private Limited

Income tax Appellate Tribunal

ITAT: Rejects assessee’s plea seeking clubbing of Manufacturing & Trading activities at time of concluding-hearing

Jun 30, 2021

In Favour of Both, Partially
Citation Number : TS-262-ITAT-2021(PUN)-TP
Tax Payer : Hyundai Construction Equipment India Pvt Ltd

Income tax Appellate Tribunal

ITAT: Administrative, sales and marketing expenses if subsumed under TNMM, doesn’t call for separate-benchmarking

Jun 30, 2021

In Favour of Both, Partially
Citation Number : TS-261-ITAT-2021(Bang)-TP
Tax Payer : Cisco Systems Capital (India) Pvt.Ltd.

High Court

HC: Contradicts on Sec.144C procedure over requirement of draft-assessment order in remand proceedings

Jun 29, 2021

In Favour of Assessee
Citation Number : TS-260-HC-2021(MAD)-TP
Tax Payer : Durr India Private Limited

High Court

HC: Contradicts on Sec.144C procedure over requirement of draft-assessment order in remand proceedings

Jun 29, 2021

In Favour of Revenue
Citation Number : TS-259-HC-2021(MAD)-TP
Tax Payer : Enfinity Solar Solutions Pvt Ltd

Income tax Appellate Tribunal

ITAT: Remits TP-adjustment w.r.t selling commission, networking charges and outstanding AE-receivables

Jun 28, 2021

In Favour of Both, Partially
Citation Number : TS-258-ITAT-2021(Bang)-TP
Tax Payer : Mphasis Limited

Income tax Appellate Tribunal

ITAT: Excludes 8 companies citing huge-turnover, 9 companies citing functional dissimilarity; Follows precedents

Jun 28, 2021

In Favour of Assessee
Citation Number : TS-257-ITAT-2021(Bang)-TP
Tax Payer : Lam Research (India) Private Limited

Income tax Appellate Tribunal

ITAT: Rules on comparables for assessee’s SWD and Marketing support services segments

Jun 28, 2021

In Favour of Assessee
Citation Number : TS-256-ITAT-2021(Bang)-TP
Tax Payer : Microchip Technology India Pvt Ltd

Income tax Appellate Tribunal

ITAT: Extrapolates applicability of OECD TPG example on working-capital adjustment to include supplier/ customer advances

Jun 25, 2021

In Favour of Both, Partially
Citation Number : TS-255-ITAT-2021(PUN)-TP
Tax Payer : GL&V India Private Limited

Income tax Appellate Tribunal

ITAT: Remits TP-adjustment in respect of royalty payments; Follows earlier order

Jun 24, 2021

In Favour of Assessee
Citation Number : TS-251-ITAT-2021(HYD)-TP
Tax Payer : Owens Corning Industries (India) Pvt. Ltd.

Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment in respect of royalty-payments, rejects NIL-ALP; Follows earlier-orders

Jun 24, 2021

In Favour of Assessee
Citation Number : TS-254-ITAT-2021(DEL)-TP
Tax Payer : Contitech India Pvt. Ltd.

Income tax Appellate Tribunal

ITAT: Applies per-hour recovery-rate CUP to delete TP-adjustment for BPO services

Jun 24, 2021

In Favour of Assessee
Citation Number : TS-253-ITAT-2021(DEL)-TP
Tax Payer : Aricent Technologies (Holding) Limited

Income tax Appellate Tribunal

ITAT: Excludes MPS Ltd citing unavailability of segmental-information w.r.t ITeS

Jun 24, 2021

In Favour of Assessee
Citation Number : TS-252-ITAT-2021(PUN)-TP
Tax Payer : FIS Solutions Software (India) Private Limited [Formerly known as SunGard Solutions (India) Private Limited]

Income tax Appellate Tribunal