Rulings ( 11951 results )

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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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

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

ITAT: Deletes AMP-adjustment made on substantive and protective basis absent existence of international-transaction; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2021(DEL)-TP
  • Tax Payer : AMADEUS INDIA PVT LTD
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for investment-advisory-services; Refrains opinion on assessee’s APA

  • In Favour of Assessee
  • Citation Number : TS-223-ITAT-2021(Mum)-TP
  • Tax Payer : Standard Chartered Private Equity Advisory India Private Limited
Income tax Appellate Tribunal

ITAT: Accepts assessee’s CUP over TPO’s TNMM for benchmarking subcontracting services

  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2021(DDN)-TP
  • Tax Payer : Schlumberger Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Applies rule of consistency, holds RPM as MAM over TPO’s TNMM for benchmarking export of socks

  • In Favour of Assessee
  • Citation Number : TS-222-ITAT-2021(Mum)-TP
  • Tax Payer : Renfro India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271(1)(c) penalty owing to corresponding deletion of TP adjustments in quantum appeal

  • In Favour of Assessee
  • Citation Number : TS-221-ITAT-2021(SUR)-TP
  • Tax Payer : Bialkhia Holdings Pvt Ltd
High Court

HC: Treats erroneously passed final-order as draft assessment order; Grants 30 days to file DRP-objections

  • In Favour of Assessee
  • Citation Number : TS-220-HC-2021(DEL)-TP
  • Tax Payer : ALcatel Lucent India Ltd
Income tax Appellate Tribunal

ITAT: Assessment procedure u/s 144C applicable prospectively from AY 2011-12; Quashes assessment order

  • In Favour of Assessee
  • Citation Number : TS-218-ITAT-2021(DEL)-TP
  • Tax Payer : A.T. Kearney Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for marketing support services and ITES segment; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-216-ITAT-2021(DEL)-TP
  • Tax Payer : Honeywell International (India) Private Limited
Income tax Appellate Tribunal

ITAT: TP provision inapplicable for divestment of shares, deletes TP-adjustment; Follows Bom HC rulings

  • In Favour of Assessee
  • Citation Number : TS-217-ITAT-2021(HYD)-TP
  • Tax Payer : Value Labs LLP
Income tax Appellate Tribunal

ITAT: No objections raised before DRP, draft order attains finality u/s 144C(3)

  • In Favour of Assessee
  • Citation Number : TS-215-ITAT-2021(Mum)-TP
  • Tax Payer : Galaxy Surfactants Limited