Rulings ( 11525 results )

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Income tax Appellate Tribunal

ITAT: Holds outstanding AE-receivables as international transaction, adopts Libor+ for ALP-computation; Rules on comparables

Dec 30, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-700-ITAT-2020(HYD)-TP
  • Tax Payer : ADP Private Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparable selection for SWD and market support services segment; Follows precedents

Dec 30, 2020
  • In Favour of Assessee
  • Citation Number : TS-699-ITAT-2020(Bang)-TP
  • Tax Payer : VMWARE SOFTWARE INDIA PVT LTD
Supreme Court

SC: Dismisses Revenue s SLP; HC rejected foreign-AE's rate of return for benchmarking INR-denominated CCDs

Dec 30, 2020
  • In Favour of Assessee
  • Citation Number : TS-698-SC-2020-TP
  • Tax Payer : M/S INDIA DEBT MANAGEMENT PVT. LTD.
High Court

HC: Lambasts Revenue for non-adherence of Sec. 144C mandate, pursuing frivolous litigation; Imposes cost

Dec 29, 2020
  • In Favour of Assessee
  • Citation Number : TS-697-HC-2020(DEL)-TP
  • Tax Payer : Headstrong Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Includes Mubea Suspension as not persistent loss making; Assessee eligible for working-cap adjustment

Dec 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-696-ITAT-2020(Bang)-TP
  • Tax Payer : Inteva Products India Automotive Private Limited
Income tax Appellate Tribunal

ITAT: Quashes assessment-order framed on basis of TP-order passed in name of non-existent entity

Dec 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-695-ITAT-2020(DEL)-TP
  • Tax Payer : VEDANTA LIMITED (Successor to M/s. Cairn India Ltd.)
Income tax Appellate Tribunal

ITAT: Includes AMP-spend and excludes outward freight for ALP-computation of imports under RPM

Dec 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-694-ITAT-2020(DEL)-TP
  • Tax Payer : Michelin India Pvt Ltd (Formerly known as Michelin India Tyres Pvt.Ltd.)
Income tax Appellate Tribunal

ITAT: Corporate guarantee not an international transaction pre-2012, deletes TP-adjustment thereon

Dec 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-693-ITAT-2020(HYD)-TP
  • Tax Payer : Vivimed Labs Limited
Income tax Appellate Tribunal

ITAT: AO s final-order passed without incorporating DRP's directions, bad in law; Follows Flextronics ruling

Dec 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-692-ITAT-2020(Bang)-TP
  • Tax Payer : Xchnging Solutions Limited
Income tax Appellate Tribunal

ITAT: Deletes ALP-adjustment on FCCD-interest though validates protective addition terming it as alternative assessment

Dec 28, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-691-ITAT-2020(DEL)-TP
  • Tax Payer : SUGAM VANIJYA HOLDINGS PRIVATE LIMITED
Income tax Appellate Tribunal

ITAT: Form 3CEB submission not equivalent to TP-documentation compliance u/s. 92D; Dismisses NR co. s MA

Dec 24, 2020
  • In Favour of Revenue
  • Citation Number : TS-690-ITAT-2020(DEL)-TP
  • Tax Payer : Convergys Customer Management Group Inc
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables for ITES-provider citing functional dissimilarity, outsourcing model; Follow precedents

Dec 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-689-ITAT-2020(Mum)-TP
  • Tax Payer : Dimension Data India Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on interest on outstanding-receivables, rules on comparables; Follows precedents

Dec 24, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-688-ITAT-2020(DEL)-TP
  • Tax Payer : Bechtel India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 4 comparables for Software developer citing functional dissimilarity and extraordinary events

Dec 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-687-ITAT-2020(PUN)-TP
  • Tax Payer : eGain Communications Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes ALP adjustment on royalty payments made to US parent; Upholds CIT(A) order

Dec 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-686-ITAT-2020(DEL)-TP
  • Tax Payer : Expeditors International (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dealing with an issue in a particular manner does not tantamount to non-adjudication; Dismisses assessee s MA

Dec 23, 2020
  • In Favour of Assessee
  • Citation Number : TS-685-ITAT-2020(Bang)-TP
  • Tax Payer : Abbott Medical Optics Pvt. Ltd
High Court

HC: Dismisses assessee s appeal as academic considering subsequent favorable order passed by assessing authority

Dec 23, 2020
  • In Favour of Assessee
  • Citation Number : TS-684-HC-2020(KAR)-TP
  • Tax Payer : Toyota Kirloskar Motor(P) LTD
Income tax Appellate Tribunal

ITAT: Rules on comparables-selection for Software developer and ITES-provider; Treats forex fluctuations as operating

Dec 23, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-683-ITAT-2020(Bang)-TP
  • Tax Payer : Inmobi Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: TP-order part of assessment order, amenable to revision u/s. 263; Incorrect cost-allocation renders order erroneous

Dec 22, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-681-ITAT-2020(HYD)-TP
  • Tax Payer : Agro Tech Foods Ltd
Income tax Appellate Tribunal

ITAT: Adjustment available only towards variance in depreciation-rates, not higher depreciation to WDV ratio

Dec 22, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-680-ITAT-2020(PUN)-TP
  • Tax Payer : Vishay Components India Private Limited