Rulings ( 11951 results )

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Income tax Appellate Tribunal

ITAT: Restores selection of MAM for benchmarking international-transaction; Deletes TP-adjustment on intra group services

  • In Favour of Assessee
  • Citation Number : TS-110-ITAT-2021(Mum)-TP
  • Tax Payer : Dow Corning India Private Limited
Income tax Appellate Tribunal

ITAT: Fixes gaurantee-commission ALP at 0.5%; Uses gaurantee-commission charged by banks as benchmark

  • In Favour of Assessee
  • Citation Number : TS-109-ITAT-2021(Mum)-TP
  • Tax Payer : Godrej Sara Lee Ltd
High Court

HC: Holds substantial question of law raised on comparables exclusion as vague; Dismisses Revenue appeal

  • In Favour of Assessee
  • Citation Number : TS-111-HC-2021(KAR)-TP
  • Tax Payer : Mphasis Ltd
High Court

HC: Disposes Revenue’s appeal; Directs AO to determine issue wrt to market-risk-adjustment afresh in accordance with law

  • In Favour of Assessee
  • Citation Number : TS-768-HC-2020(KAR)-TP
  • Tax Payer : Yodlee Infotech Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM against CIT(A)’s CUP; Restores matter to AO/TPO for consideration in light of Rule-10B

  • In Favour of Assessee
  • Citation Number : TS-104-ITAT-2021(Mum)-TP
  • Tax Payer : USV Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 5 comparables for software-developer applying turnover-filter; Follows Autodesk ruling

  • In Favour of Assessee
  • Citation Number : TS-103-ITAT-2021(Bang)-TP
  • Tax Payer : Microchip Technology (India) Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Holds assessee’s corporate-guarantee fees of 1% at arm’s length; Vacates TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-105-ITAT-2021(Mum)-TP
  • Tax Payer : IL & FS Transportation Networks Limited
Income tax Appellate Tribunal

ITAT: Includes ‘Prior period income’ in operating revenue base for ALP-determination of marketing-support services

  • In Favour of Assessee
  • Citation Number : TS-102-ITAT-2021(PUN)-TP
  • Tax Payer : MTU India Private Limited
Income tax Appellate Tribunal

ITAT: Supporting evidence filed amounts to additional evidence; Remits TP-adjustment on trade-credits, corporate-guarantee fee

  • In Favour of Assessee
  • Citation Number : TS-100-ITAT-2021(Mum)-TP
  • Tax Payer : Peri (India) Private Limited
Income tax Appellate Tribunal

ITAT: Excludes Infobeans Technologies Ltd as a comparable for routine software developer; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-99-ITAT-2021(Mum)-TP
  • Tax Payer : SkillNet Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs separate benchmarking for trading and manufacturing activities; Restricts TP-adjustment to international-transaction

  • In Favour of Both, Partially
  • Citation Number : TS-101-ITAT-2021(PUN)-TP
  • Tax Payer : Stauff India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds Forex gain/loss, doubtful-debts provisions as operating; Remits treatment of amortization of goodwill

  • In Favour of Assessee
  • Citation Number : TS-1516-ITAT-2018(DEL)-TP
  • Tax Payer : St Ericsson India Private Limited
High Court

HC: Dismisses Revenue’s appeal challenging Infosys' exclusion as comparable for Software-Development Services provider

  • In Favour of Assessee
  • Citation Number : TS-767-HC-2020(KAR)-TP
  • Tax Payer : Samsung R&D Institute Bangalore Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remands inclusion of VRS expenses in operating cost base of the comparable

  • In Favour of Assessee
  • Citation Number : TS-96-ITAT-2021(PUN)-TP
  • Tax Payer : Rieter India Private Limited
High Court

HC: Stays TP order giving effect to ITAT order deleting AMP adjustment pending SC decision on the issue

  • In Favour of None/NA
  • Citation Number : TS-97-HC-2021(DEL)-TP
  • Tax Payer : Whirlpool of India Ltd
Foreign Court

FC: Canadian SC dismisses CRA Leave Application to lift corporate veil for reallocation of profits to Cameco Canada

  • In Favour of Assessee
  • Citation Number : TS-95-FC-2021(CAN)-TP
  • Tax Payer : Cameco Corporation
Income tax Appellate Tribunal

ITAT: Accepts assessee’s internal-TNMM over TPO’s external-TNMM for jeweller’s import transactions; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-91-ITAT-2021(Mum)-TP
  • Tax Payer : SB & T Designs Ltd
Income tax Appellate Tribunal

ITAT: Restores Revenue’s re-characterization of assessee’s ITES as high-end KPO services

  • In Favour of Both, Partially
  • Citation Number : TS-92-ITAT-2021(Mum)-TP
  • Tax Payer : Pangea3 Legal Database Systems Private Limited
Income tax Appellate Tribunal

ITAT: Allows working-capital adjustment, relevant data of comparables available; Distinguishes Mobis India ruling

  • In Favour of Assessee
  • Citation Number : TS-93-ITAT-2021(HYD)-TP
  • Tax Payer : Cavium Networks India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits comparability of Alta Moda for ascertaining functions of company exercising power u/s 133(6)

  • In Favour of Both, Partially
  • Citation Number : TS-94-ITAT-2021(DEL)-TP
  • Tax Payer : Hermes India Retails & Distributors Pvt. Ltd