Rulings ( 11524 results )

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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)
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment on salary-payments to directors’ wives; Experience more relevant than educational qualification

Feb 05, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-41-ITAT-2021(JPR)-TP
  • Tax Payer : Vibrant Academy (I) Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on royalty payment and rejects nil-ALP for managerial services; Follows precedents

Feb 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-37-ITAT-2021(PUN)-TP
  • Tax Payer : Renishaw Metrology Systems Limited
Income tax Appellate Tribunal

ITAT: No negative working-capital adjustment for captive-service provider; Excludes 5 companies applying turnover-filter

Feb 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-38-ITAT-2021(Bang)-TP
  • Tax Payer : Lam Research (India) Private Limited
Income tax Appellate Tribunal

ITAT: Remands issue of ALP-determination of purchase & sales considering segmental accounts

Feb 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-40-ITAT-2021(Mum)-TP
  • Tax Payer : Supermax Personal Care Private Limited
Income tax Appellate Tribunal

ITAT: Treats forex-loss operating, considers it part of base for charging markup on cost+basis

Feb 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-39-ITAT-2021(DEL)-TP
  • Tax Payer : CPA Global Support Services India Private Limited
High Court

HC: Holds notices issued by DRP, 4 years after ITAT's direction, time-barred u/s 153

Feb 04, 2021
  • In Favour of Assessee
  • Citation Number : TS-764-HC-2020(MAD)-TP
  • Tax Payer : Roca Bathroom Products Private Limited
Income tax Appellate Tribunal

ITAT: Accepts aggregated benchmarking for different transactions under manufacturing segment; Remits comparables selection

Feb 03, 2021
  • In Favour of Assessee
  • Citation Number : TS-36-ITAT-2021(PUN)-TP
  • Tax Payer : Mahle Behr India Limited
Income tax Appellate Tribunal

ITAT: Draft order essential before passing final assessment-order in terms of Sec. 144C; Follows precedents

Feb 03, 2021
  • In Favour of Assessee
  • Citation Number : TS-35-ITAT-2021(PUN)-TP
  • Tax Payer : Jain Irrigation Systems Ltd
Income tax Appellate Tribunal

ITAT: Remits MAM selection issue for distribution segment; Excludes 3 comparables for ITES-provider

Jan 29, 2021
  • In Favour of Assessee
  • Citation Number : TS-33-ITAT-2021(Bang)-TP
  • Tax Payer : VWR Lab Products Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on Comparables; Excludes Govt.companies, directs exercise u/s.133(6) to ascertain functions of comparable

Jan 29, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-34-ITAT-2021(DEL)-TP
  • Tax Payer : Prometric Testing (P) Ltd
Income tax Appellate Tribunal

ITAT: Holds BLT based AMP-adjustment in case of RayBan unsustainable; Considers pendency before SC

Jan 28, 2021
  • In Favour of Assessee
  • Citation Number : TS-32-ITAT-2021(DEL)-TP
  • Tax Payer : RayBan Sun Optics India Ltd
Income tax Appellate Tribunal

ITAT: Considers forex gain as operating item; Rejects Revenue’s application of safe harbour rules

Jan 28, 2021
  • In Favour of Assessee
  • Citation Number : TS-29-ITAT-2021(PUN)-TP
  • Tax Payer : Delval Flow Controls Private Limited
Income tax Appellate Tribunal

ITAT: Upholds TNMM over TPO’s CUP for intra-group services benchmarking; Confirms TP-adjustment deletion

Jan 28, 2021
  • In Favour of Assessee
  • Citation Number : TS-31-ITAT-2021(DEL)-TP
  • Tax Payer : Knorr Bremse India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats forex as operating, restricts TP-adjustment to AE-transactions; Excludes 3, includes 1 as comparables

Jan 27, 2021
  • In Favour of Assessee
  • Citation Number : TS-28-ITAT-2021(PUN)-TP
  • Tax Payer : Synechron Technologies Private Limited
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment to AE-transaction; Remits treatment of IT Support service charges as operating/non-operating

Jan 27, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-30-ITAT-2021(PUN)-TP
  • Tax Payer : Knorr Bremse Systems for Commercial Vehicles India Private Limited (“KB India”)
Income tax Appellate Tribunal

ITAT: Grants working-capital adjustment, remits risk-adjustment; Rules on comparables selection

Jan 25, 2021
  • In Favour of Both, Partially
  • Citation Number : TS-25-ITAT-2021(PUN)-TP
  • Tax Payer : BMC Software India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes Sec.271(1)(c)-penalty since ALP-adjustment deleted in quantum appeal; Follows precedent

Jan 25, 2021
  • In Favour of Assessee
  • Citation Number : TS-26-ITAT-2021(DEL)-TP
  • Tax Payer : Genpact Infrastructure (Hyderabad) Private Limited
Income tax Appellate Tribunal

ITAT: Excludes CTR Manufacturing Industries for manufacturing-segment, cites non-availability of segmental information

Jan 25, 2021
  • In Favour of Assessee
  • Citation Number : TS-27-ITAT-2021(PUN)-TP
  • Tax Payer : Vishay Components India Private Limited