Rulings ( 11525 results )

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Income tax Appellate Tribunal

ITAT: Upholds KPO-BPO services distinction following Maersk-ruling; Rejects Revenue’s CBDT Circular reliance

Sep 02, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-453-ITAT-2020(Bang)-TP
  • Tax Payer : State Street Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes functionally-dissimilar and risk bearing TCS e-Serve for back-office support service provider

Sep 02, 2020
  • In Favour of Assessee
  • Citation Number : TS-452-ITAT-2020(DEL)-TP
  • Tax Payer : Louis Dreyfus Commodities India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Difference between budgeted and actual overhead expenses not extraordinary; Rejects assessee’s adjustment to op-margin

Sep 01, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-451-ITAT-2020(Mum)-TP
  • Tax Payer : GE Power India Ltd (formerly known as Alstom India Ltd)
Income tax Appellate Tribunal

ITAT: Allows Sec.10AA deduction on assessee’s voluntary TP-adjustment pursuant to APA; Follows IBM India

Sep 01, 2020
  • In Favour of Assessee
  • Citation Number : TS-450-ITAT-2020(Bang)-TP
  • Tax Payer : EYGBS India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal as infructuous in view of TP-issues resolved under Unilateral-APA

Aug 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-449-ITAT-2020(Bang)-TP
  • Tax Payer : Citizen Watches (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT:Holds TNMM as MAM for herbal products exporter; Remits capacity, risk adjustments

Aug 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-448-ITAT-2020(Bang)-TP
  • Tax Payer : Sami Labs Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on reimbursement on account of testing charges; Follows earlier order

Aug 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-447-ITAT-2020(DEL)-TP
  • Tax Payer : Marathon Electric India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats domestic revenue, prior period expenses as non-operating; Rules on comparables for ITeS-provider

Aug 31, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-446-ITAT-2020(DEL)-TP
  • Tax Payer : Smart Cube India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Proceedings culminate when draft-order accompanied by demand,penalty notices; Follows precedent

Aug 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-445-ITAT-2020(DEL)-TP
  • Tax Payer : Olympus Medical Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec 271G-penalty for Procter & Gamble entity; Follows ITAT-ruling in sister concern’s case

Aug 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-444-ITAT-2020(Mum)-TP
  • Tax Payer : Procter & Gamble Hygiene and Health Care Limited
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal as withdrawn considering TP-issues resolution under Unilateral-APA

Aug 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-443-ITAT-2020(Kol)-TP
  • Tax Payer : Pricewaterhousecoopers Delivery Centre (Kolkata) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs treatment of AE-advance as trade-payable for working capital adjustment; Rules on comparables

Aug 28, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-442-ITAT-2020(Bang)-TP
  • Tax Payer : Infineon Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Holds forex-fluctuation, bank charges, doubtful-debts provision as operating-items, rejects AO’s Safe-Harbour reliance

Aug 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-441-ITAT-2020(DEL)-TP
  • Tax Payer : Optum Global Solutions (India) Private Limited (Formerly known as United Health Group Information Services Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on outstanding AE-receivables already factored in working capital adjustment

Aug 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-440-ITAT-2020(DEL)-TP
  • Tax Payer : EXL Service.com (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Provision for assets impairment, non-operating item to be excluded from PLI-computation

Aug 26, 2020
  • In Favour of Assessee
  • Citation Number : TS-439-ITAT-2020(DEL)-TP
  • Tax Payer : Imsofer Manufacturing India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Determines ALP of royalty 4 citing India-UK MAP resolution; Remits issue

Aug 26, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-438-ITAT-2020(DEL)-TP
  • Tax Payer : JCB India Ltd
Income tax Appellate Tribunal

ITAT: Rejects negative working-capital adjustment for a captive software developer; Excludes 4 comparables

Aug 26, 2020
  • In Favour of Assessee
  • Citation Number : TS-437-ITAT-2020(Bang)-TP
  • Tax Payer : Tavant Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TP-adjustment deletion for management/ technical services; Follows earlier order absent clinching distinction

Aug 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-435-ITAT-2020(Kol)-TP
  • Tax Payer : Vesuvius India Ltd
Income tax Appellate Tribunal

ITAT:Remits TP-adjustments in respect of freight forwarding & management support services; Follows earlier order

Aug 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-434-ITAT-2020(DEL)-TP
  • Tax Payer : Geodis Overseas Pvt Ltd
Income tax Appellate Tribunal

ITAT: Company that becomes AE during the year, not valid comparable; Follows Gemstone ruling

Aug 24, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-433-ITAT-2020(Ahd)-TP
  • Tax Payer : Lonsen Kiri Chemical Industries Ltd