Rulings ( 11522 results )

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Income tax Appellate Tribunal

ITAT: Excludes 3 comparables for ITES-provider; Remits capacity-underutilization adjustment

Feb 17, 2021
  • In Favour of Assessee
  • Citation Number : TS-61-ITAT-2021(DEL)-TP
  • Tax Payer : Evalueserve SEZ (Gurgaon) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 7 comparables applying upper turnover filter, grants working-capital adjustment; Follows precedents

Feb 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-57-ITAT-2021(Bang)-TP
  • Tax Payer : VeriFone India Technology Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 6 comparables applying turnover filter 1cr-200cr for software developer; Follows earlier order

Feb 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-59-ITAT-2021(Bang)-TP
  • Tax Payer : Trilogy E-Business Software India Private Ltd.
Income tax Appellate Tribunal

ITAT: Quashes reassessment based on earlier order considering no failure of disclosure by assessee

Feb 16, 2021
  • In Favour of Assessee
  • Citation Number : TS-58-ITAT-2021(Bang)-TP
  • Tax Payer : Nike India Private Limited
Income tax Appellate Tribunal

ITAT: Holds CPM over TNMM as most appropriate method for trading segment; Follows earlier order

Feb 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-55-ITAT-2021(Bang)-TP
  • Tax Payer : A. O. Smith India Water Heating Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue's appeal; Confirms CIT(A)’s AE's ALP-margin determination at 6% for marketing functions

Feb 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-56-ITAT-2021(Mum)-TP
  • Tax Payer : Sitel India Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee’s MA; Adjudicates & allows ground seeking adoption of correct margins for comparable

Feb 12, 2021
  • In Favour of Assessee
  • Citation Number : TS-54-ITAT-2021(Mum)-TP
  • Tax Payer : Banc Tec TPS India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment to international-transactions with overseas AE; Relies on Firestone International HC ruling

Feb 11, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-53-ITAT-2021(HYD)-TP
  • Tax Payer : Seaways Shipping and Logistics Ltd
Income tax Appellate Tribunal

ITAT: Treats forex gain earned from Software Development Services as operating in nature

Feb 11, 2021
  • In Favour of Assessee
  • Citation Number : TS-52-ITAT-2021(Bang)-TP
  • Tax Payer : Acusis Software India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Accepts TNMM over CUP absent comparable price for product sale in domestic market

Feb 10, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-49-ITAT-2021(Mum)-TP
  • Tax Payer : Merck Limited
Income tax Appellate Tribunal

ITAT: Excludes Eclerx as comparable for Engineering Design Support Service- provider

Feb 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-50-ITAT-2021(PUN)-TP
  • Tax Payer : Faurecia India Private Limited
Income tax Appellate Tribunal

ITAT: Provision of letter of comfort/ support not international transaction; Deletes TP-adjustment

Feb 10, 2021
  • In Favour of Assessee
  • Citation Number : TS-51-ITAT-2021(Mum)-TP
  • Tax Payer : Asian Paints Ltd
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM for trading segment absent appropriate comparables under RPM

Feb 09, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-48-ITAT-2021(DEL)-TP
  • Tax Payer : Bergen Engines India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores TP-adjustment on corporate guarantee for verification of amount recovered in excess of 1%

Feb 09, 2021
  • In Favour of Assessee
  • Citation Number : TS-47-ITAT-2021(Mum)-TP
  • Tax Payer : IL & FS Transportation Networks Limited
High Court

HC: 60-days limit for passing TPO-order u/s 92CA(3A) r.w.s. 153 mandatory, not directory

Feb 08, 2021
  • In Favour of Assessee
  • Citation Number : TS-766-HC-2020(MAD)-TP
  • Tax Payer : PFIZER HEALTHCARE INDIA PVT LTD
Income tax Appellate Tribunal

ITAT: Figures from financial statements, not notes to accounts, to be considered for PLI-computation

Feb 08, 2021
  • In Favour of Assessee
  • Citation Number : TS-46-ITAT-2021(Mum)-TP
  • Tax Payer : Dilipkumar V Lakhi
High Court

HC: Sanctions change in tested party from assessee to foreign AE, contrary to TP-documentation

Feb 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-45-HC-2021(MAD)-TP
  • Tax Payer : Virtusa Consulting Services Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on regional management charges paid to foreign-AE; Follows earlier-orders

Feb 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-42-ITAT-2021(Mum)-TP
  • Tax Payer : Henkel Chembond Surface Technologies Limited
Income tax Appellate Tribunal

ITAT: Remits issues of comparable selection, adoption of entity level TNMM; Relies on earlier order

Feb 05, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-44-ITAT-2021(Mum)-TP
  • Tax Payer : TCL holdings Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for a routine trader of telecommunication equipment; Follows precedents

Feb 05, 2021
  • In Favour of Assessee
  • Citation Number : TS-43-ITAT-2021(Bang)-TP
  • Tax Payer : ADC India Communications Limited (formerly known as M/s. Krone Communications Limited)