Rulings ( 11525 results )

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Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on AE-receivables considering non-charging of interest from AE, non-AE uniformly

Aug 04, 2020
  • In Favour of Assessee
  • Citation Number : TS-393-ITAT-2020(Mum)-TP
  • Tax Payer : S Vinodkumar Diamonds Pvt Ltd
Income tax Appellate Tribunal

ITAT:Applies approach, basis and conclusion in subsequent years’ APA, absent differences in FAR

Aug 04, 2020
  • In Favour of Assessee
  • Citation Number : TS-392-ITAT-2020(DEL)-TP
  • Tax Payer : Metal One Corporation India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes functionally-dissimilar Excel Infoways as comparable for ITeS-provider; Relies on Zenta Pvt ruling

Aug 04, 2020
  • In Favour of Assessee
  • Citation Number : TS-391-ITAT-2020(Mum)-TP
  • Tax Payer : Convergys India Service Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on corporate guarantee for manufacturer assessee; Follows earlier order

Aug 03, 2020
  • In Favour of Assessee
  • Citation Number : TS-389-ITAT-2020(Ahd)-TP
  • Tax Payer : Meghmani Organics Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables citing functional dissimilarity, existence of extra-ordinary events, follows precedents

Aug 03, 2020
  • In Favour of Assessee
  • Citation Number : TS-388-ITAT-2020(Mum)-TP
  • Tax Payer : Dimension Data India (Formerly Datacraft India Ltd.)
Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment; Remits alternate TP-adjustment on account of packaging cost, training etc

Aug 03, 2020
  • In Favour of Assessee
  • Citation Number : TS-387-ITAT-2020(Mum)-TP
  • Tax Payer : L‟Oreal India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables citing functional-dissimilarity and different in financial year ends

Aug 03, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-386-ITAT-2020(Mum)-TP
  • Tax Payer : Exxon Mobil Company India Pvt
Income tax Appellate Tribunal

ITAT: Applies APA-price agreed with amalgamated entity to rollback year pre-amalgamation

Aug 03, 2020
  • In Favour of Assessee
  • Citation Number : TS-385-ITAT-2020(Bang)-TP
  • Tax Payer : Texas Instruments (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: IBM India’s Sec 10AA claim allowable, including on incremental income arising pursuant to APA

Jul 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-384-ITAT-2020(Bang)-TP
  • Tax Payer : IBM India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes HCL, HP Globalsoft citing high RPT, Satyam citing unreliable financials for software developer

Jul 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-383-ITAT-2020(DEL)-TP
  • Tax Payer : Cadence Design Systems (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Includes TCS E- serve for ITeS-provider absent Tata Brand impact evidence; Rejects recharacterization as KPO

Jul 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-382-ITAT-2020(DEL)-TP
  • Tax Payer : Smart Cube India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes royalty TP-adjustment sans AE's exploitation of assessee's product licenses; Distinguishes Dabur India ruling

Jul 31, 2020
  • In Favour of Assessee
  • Citation Number : TS-381-ITAT-2020(Bang)-TP
  • Tax Payer : The Himalaya Drug Company
Income tax Appellate Tribunal

ITAT: Remits comparables-selection citing wide range of PLI of comparables selected by TPO

Jul 31, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-380-ITAT-2020(HYD)-TP
  • Tax Payer : Vitech Systems Asia Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts USD “LIBOR plus” rate for benchmarking software developer’s outstanding foreign AE-receivables

Jul 30, 2020
  • In Favour of Assessee
  • Citation Number : TS-378-ITAT-2020(HYD)-TP
  • Tax Payer : United Online Software Development (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT:Rejects invoking Sec 92B(2) deeming provision for loans to domestic group-entity pre-2014 amendment

Jul 30, 2020
  • In Favour of Assessee
  • Citation Number : TS-377-ITAT-2020(Mum)-TP
  • Tax Payer : Regus Business Centre Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds APA has persuasive value beyond rollback-years absent change in FAR

Jul 30, 2020
  • In Favour of Assessee
  • Citation Number : TS-376-ITAT-2020(DEL)-TP
  • Tax Payer : FIS Global Business Solutions India Private Limited
Income tax Appellate Tribunal

ITAT:Includes 3 comparables for manufacturer, rejecting Revenue’s persistent loss-making plea; Follows precedents

Jul 29, 2020
  • In Favour of Assessee
  • Citation Number : TS-375-ITAT-2020(Mum)-TP
  • Tax Payer : Cheminova India Limited
Income tax Appellate Tribunal

ITAT: If comparables excluded on main ground, adjudication of other grounds irrelevant; Dismisses assessee’s MP

Jul 29, 2020
  • In Favour of Assessee
  • Citation Number : TS-374-ITAT-2020(Bang)-TP
  • Tax Payer : IZMO Ltd [formerly Logix Microsystems Ltd.]
Income tax Appellate Tribunal

ITAT: Accepts TNMM as MAM for Lubrizol’s AE-exports benchmarking, applies rule of consistency

Jul 29, 2020
  • In Favour of Assessee
  • Citation Number : TS-373-ITAT-2020(Mum)-TP
  • Tax Payer : Lubrizol India Private Limited
Income tax Appellate Tribunal

ITAT:Deletes royalty disallowance u/s.40A(2)(b); Rejects AO's comparison with earlier-year percentile without determining FMV

Jul 28, 2020
  • In Favour of Assessee
  • Citation Number : TS-372-ITAT-2020(DEL)-TP
  • Tax Payer : DE Diamond Electric India Pvt Ltd