Rulings ( 11521 results )

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Income tax Appellate Tribunal

ITAT: Remits TP-adjustment on interest on delayed-receivables; Reverses DRP's enhancement of interest

May 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-204-ITAT-2021(HYD)-TP
  • Tax Payer : GSS Infotech Limited
Income tax Appellate Tribunal

ITAT: Includes Thinksoft Global citing data-availability in public domain; Excludes 2 failing forex-sales, turnover-filter

May 12, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-203-ITAT-2021(PUN)-TP
  • Tax Payer : SAS Research & Development (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Identification of tested-party mandatory despite CUP being MAM for SDT of inter-unit power-transfer

May 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-200-ITAT-2021(Kol)-TP
  • Tax Payer : Balarampur Chini Mills Ltd
Income tax Appellate Tribunal

ITAT: Permits reduction of US company's royalty income basis APA signed by Indian AE

May 07, 2021
  • In Favour of Assessee
  • Citation Number : TS-201-ITAT-2021(Mum)-TP
  • Tax Payer : Gemological Institute of America Inc
Income tax Appellate Tribunal

ITAT: Directs deletion of 571.69 cr AMP-adjustment for Pepsico India ; Renders stay-application infructuous

May 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-196-ITAT-2021(DEL)-TP
  • Tax Payer : PepsiCo India Holdings Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on inventory purchased from AE under bareboat charter agreement

May 06, 2021
  • In Favour of Assessee
  • Citation Number : TS-198-ITAT-2021(Mum)-TP
  • Tax Payer : Greatship (India) Ltd
Foreign Court

FC: Danish SC upholds tax administration’s discretionary assessment warranted by taxpayer’s inadequate TP documentation

May 06, 2021
  • In Favour of Revenue
  • Citation Number : TS-197-FC-2021(DEN)-TP
  • Tax Payer : Tetra Pak Processing Systems A / S
Income tax Appellate Tribunal

ITAT: Quashes PCIT’s Sec.263-order against SDT non-reference to TPO; Follows precedents

May 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-771-ITAT-2020(GAU)-TP
  • Tax Payer : Bhartia-SMSIL (JV)
Income tax Appellate Tribunal

ITAT: Protective TP-adjustment basis BLT unsustainable for AMP expenses; Upholds RPM as MAM for import-transaction

May 03, 2021
  • In Favour of Assessee
  • Citation Number : TS-193-ITAT-2021(DEL)-TP
  • Tax Payer : Luxottica India Eyewear Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TP-adjustment on interest on delayed AE-receivables, adopts 12% interest rate

May 03, 2021
  • In Favour of Revenue
  • Citation Number : TS-194-ITAT-2021(HYD)-TP
  • Tax Payer : HBL Power Systems Limited
Income tax Appellate Tribunal

ITAT: Allows assessee's Miscellaneous Application w.r.t comparables-selection; Rectifies Tribunal’s order

Apr 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-191-ITAT-2021(HYD)-TP
  • Tax Payer : ADP P Ltd
Income tax Appellate Tribunal

ITAT: Rejects Revenue’s plea; Finds comparability-adjustment made before TPO first, not CIT(A)

Apr 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-192-ITAT-2021(DEL)-TP
  • Tax Payer : Flextronics Software Systems Ltd
High Court

HC: Dismisses Revenue’s appeal against ITAT’s grant of 5% benefit by following earlier HC order

Apr 26, 2021
  • In Favour of Assessee
  • Citation Number : TS-188-HC-2021(KAR)-TP
  • Tax Payer : UAE Exchange & Financial Services Limited
Income tax Appellate Tribunal

ITAT: Excludes Infosys BPO, a giant company in software-development area; Remits working-capital adjustment

Apr 26, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-189-ITAT-2021(DEL)-TP
  • Tax Payer : Dunnhumby IT Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on SDT covered under erstwhile Sec 92BA(i); Remits for examination u/s 40A(2)

Apr 26, 2021
  • In Favour of Assessee
  • Citation Number : TS-186-ITAT-2021(Bang)-TP
  • Tax Payer : Sobha City
Income tax Appellate Tribunal

ITAT: Deletes AO's Sec.40A(2) disallowance given ALP of international transaction accepted by TPO

Apr 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-185-ITAT-2021(Bang)-TP
  • Tax Payer : Lifestyle International (P) Limited
Income tax Appellate Tribunal

ITAT: Includes 2 comparables for software-developer; Rejects negative working-capital adjustment for captive-service provider

Apr 20, 2021
  • In Favour of Assessee
  • Citation Number : TS-184-ITAT-2021(Bang)-TP
  • Tax Payer : Infineon Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Determines ALP of corporate guarantee fee at 0.50%; Follows Manipal Global Education ruling

Apr 19, 2021
  • In Favour of Assessee
  • Citation Number : TS-181-ITAT-2021(Bang)-TP
  • Tax Payer : Medreich Limited
Income tax Appellate Tribunal

ITAT: Remits incorrect margin-computation; Directs AO to dispose rectification application pending since 2014

Apr 19, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-182-ITAT-2021(Bang)-TP
  • Tax Payer : Invitrogen Bioservices India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Confirms DRP’s forex treatment as operating, grants 1% risk-adjustment ; Follows precedents

Apr 19, 2021
  • In Favour of Assessee
  • Citation Number : TS-180-ITAT-2021(Bang)-TP
  • Tax Payer : NTT Data Global Delivery Services Pvt Ltd (Formerly Keane India Limited)