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Income tax Appellate Tribunal

ITAT: Holds assessee's action of ALP determination as honest and diligent; deletes 271(1)(c) penalty

Jun 21, 2021
  • In Favour of Assessee
  • Citation Number : TS-246-ITAT-2021(PUN)-TP
  • Tax Payer : Honeywell Automation India Limited
Income tax Appellate Tribunal

ITAT: Rejects PSM as MAM for RBI approved royalty-payment; Follows precedents

Jun 18, 2021
  • In Favour of Assessee
  • Citation Number : TS-244-ITAT-2021(Bang)-TP
  • Tax Payer : Toyotetsu India Auto Parts Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s appeal on TP issues in light of MAP resolution

Jun 18, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-243-ITAT-2021(Bang)-TP
  • Tax Payer : Yaskawa India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects DRP’s suo-moto application of on-site revenue filter; Includes RS Software Ltd

Jun 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2021(Bang)-TP
  • Tax Payer : Radisys India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes companies citing unavailability of P&L Account, segmental details, functional-dissimilarity and controlled-transactions

Jun 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-241-ITAT-2021(DEL)-TP
  • Tax Payer : SAIC India Private Limited
Income tax Appellate Tribunal

ITAT: Remits comparability of Skil Infrastructure Ltd qua RPT filter of 25%

Jun 16, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-240-ITAT-2021(DEL)-TP
  • Tax Payer : Linde engineering India private limited
Income tax Appellate Tribunal

ITAT: Upholds payment of rent in SDT; Dismisses TPO's plea of tax avoidance device

Jun 14, 2021
  • In Favour of Assessee
  • Citation Number : TS-239-ITAT-2021(PUN)-TP
  • Tax Payer : Bhairavanath Sugar Works Ltd
Income tax Appellate Tribunal

ITAT: Disallowance of expenses cannot be equated to ALP adjustment, deletes TP-adjustment; Follows earlier order

Jun 11, 2021
  • In Favour of Assessee
  • Citation Number : TS-238-ITAT-2021(Mum)-TP
  • Tax Payer : Hamon Cooling Systems
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment for Intra-group-services; Services not in the nature of shareholder/stewardship activities

Jun 11, 2021
  • In Favour of Assessee
  • Citation Number : TS-237-ITAT-2021(DEL)-TP
  • Tax Payer : Danisco India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustments w.r.t interest on overdue debtors, working-capital; Rules on comparables

Jun 09, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-236-ITAT-2021(Mum)-TP
  • Tax Payer : Atos India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Reference to AO/TPO u/s 92CA bad in law for SDT covered under erstwhile 92BA(i); Follows Texport ruling

Jun 09, 2021
  • In Favour of Assessee
  • Citation Number : TS-234-ITAT-2021(DEL)-TP
  • Tax Payer : SMR Automotive Systems India Ltd
Income tax Appellate Tribunal

ITAT: Prefers TNMM over TPO’s ‘other method’ absent TPO's justification to reject five prescribed methods

Jun 09, 2021
  • In Favour of Assessee
  • Citation Number : TS-235-ITAT-2021(DEL)-TP
  • Tax Payer : Sabic India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on Counter-guarantee commission owing to assessee’s FAR; Upholds TNMM as MAM

Jun 08, 2021
  • In Favour of Assessee
  • Citation Number : TS-233-ITAT-2021(DEL)-TP
  • Tax Payer : The Bank of Tokyo Mitsubishi UFJ Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s action of quashing final assessment order passed without draft order

Jun 07, 2021
  • In Favour of Assessee
  • Citation Number : TS-232-ITAT-2021(DEL)-TP
  • Tax Payer : Rolls-Royce India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Government-company as comparable; Remits capacity utilization adjustment

Jun 07, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-231-ITAT-2021(PUN)-TP
  • Tax Payer : Hyundai Construction Equipment India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271G-penalty absent specific information requisition in notice; Non-filing before AO mere technical-glitch

Jun 07, 2021
  • In Favour of Assessee
  • Citation Number : TS-230-ITAT-2021(PUN)-TP
  • Tax Payer : Francois Compressors India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds combined accounts approach for ALP-determination; Treats export-incentive as operating

Jun 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-229-ITAT-2021(PUN)-TP
  • Tax Payer : Tasty Bite Eatables Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on payment of Management-fee; Condones 177 days delay in filing appeal

Jun 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-227-ITAT-2021(PUN)-TP
  • Tax Payer : Spicer India Private Limited
Income tax Appellate Tribunal

ITAT: Directs treatment of bad-debts provision as non-operating expenditure for PLI computation; Remits computation

Jun 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-228-ITAT-2021(PUN)-TP
  • Tax Payer : Honeywell Automation India Limited
Income tax Appellate Tribunal

ITAT: Remits selection of MAM for SDT transaction of receipt of services from AE; Renders application of benefit test unnecessary

Jun 02, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-226-ITAT-2021(PUN)-TP
  • Tax Payer : Adient India Private Limited