Rulings ( 11525 results )

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Income tax Appellate Tribunal

ITAT:Accepts CUP-method for benchmarking Toll Global’s international-transactions; Follows own HC-ruling absent SC-overruling

Jul 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-371-ITAT-2020(DEL)-TP
  • Tax Payer : Toll Global Forwarding India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects negative working capital adjustment for software service provider; Follows IZMO ruling

Jul 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-370-ITAT-2020(Bang)-TP
  • Tax Payer : Core One Technologies Pvt Ltd (Formerly M/s. CAPCO IT SERVICES India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Accepts Indian clients as comparables, grants 40% ‘discounting’ adjustment for Morgan Stanley's brokerage-services

Jul 27, 2020
  • In Favour of Assessee
  • Citation Number : TS-369-ITAT-2020(Mum)-TP
  • Tax Payer : Morgan Stanley India Company Private Limited (Formerly known as J.M. Morgan Stanley Securities Private Limited)
Foreign Court

FC: Zurich Administrative Court attributes value-adding functions to Swiss investment advisor; Holds OECD Guidelines non-binding

Jul 27, 2020
  • In Favour of Revenue
  • Citation Number : TS-1261-FC-2019(SWTZ)-TP
  • Tax Payer : A AG
Income tax Appellate Tribunal

ITAT: Rejects characterization of ITeS-provider as KPO; Includes 3 comparables rejected without specific-reasoning

Jul 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2020(Mum)-TP
  • Tax Payer : Morgan Stainley Advantage Services P. Ltd
Income tax Appellate Tribunal

ITAT: Rejects TPO’s re-characterization of non-binding investment advisory provider as KPO; Rules on comparables

Jul 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-367-ITAT-2020(Mum)-TP
  • Tax Payer : Carlyle India Advisors P Ltd
Income tax Appellate Tribunal

ITAT: Restricts corporate guarantee ALP at 0.5%; Remits TP-adjustment on AE-loan following precedents

Jul 24, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-366-ITAT-2020(Mum)-TP
  • Tax Payer : Laqshya Media Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-issue whether delayed receivables TP-adjustment get subsumed in working-capital adjustment

Jul 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-365-ITAT-2020(DEL)-TP
  • Tax Payer : iQor India Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Stresses on functional similarity before considering other parameters/filters

Jul 22, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-364-ITAT-2020(DEL)-TP
  • Tax Payer : Motherson Sumi Infotech& Designs Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment made on account of manning services fee; Follows earlier-orders

Jul 22, 2020
  • In Favour of Assessee
  • Citation Number : TS-363-ITAT-2020(Mum)-TP
  • Tax Payer : Wilhelmsen Ship Management India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Cannot estimate current year gross-profit using subsequent year margins; Remits sales/ service charges TP-adjustment

Jul 21, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-361-ITAT-2020(Mum)-TP
  • Tax Payer : Powernetics Equipments India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 8 comparables for assessee rendering BPO-services; Sets 0.5 ALP commission rate for corporate-guarantee

Jul 21, 2020
  • In Favour of Assessee
  • Citation Number : TS-360-ITAT-2020(Mum)-TP
  • Tax Payer : Teleperformence Global Services Private Limited (Earlier Known as “Intel Global Services Private Limited”)
Income tax Appellate Tribunal

ITAT: Upholds aggregated-benchmarking for Raw Materials imports, Royalty, Indenting Commission for electronics components manufacturer

Jul 21, 2020
  • In Favour of Assessee
  • Citation Number : TS-359-ITAT-2020(Kol)-TP
  • Tax Payer : Epcos India Pvt Ltd
Income tax Appellate Tribunal

ITAT:No further profit-attributable to PE if Arm’s-length principles followed; Deletes 40(a)(i)-addition

Jul 20, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-358-ITAT-2020(DEL)-TP
  • Tax Payer : Honda Cars India Ltd
Income tax Appellate Tribunal

ITAT: Deletes disallowance made on Star-India’s brand license payments; Follows earlier

Jul 20, 2020
  • In Favour of Assessee
  • Citation Number : TS-357-ITAT-2020(Mum)-TP
  • Tax Payer : Star India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds AMP-adjustment deletion absent agreement for AE’s brand promotion; Follows earlier-order

Jul 17, 2020
  • In Favour of Assessee
  • Citation Number : TS-356-ITAT-2020(Mum)-TP
  • Tax Payer : General Mills India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds distribution-fees not royalty and software distributors as comparables for channel distributor

Jul 17, 2020
  • In Favour of Assessee
  • Citation Number : TS-355-ITAT-2020(Mum)-TP
  • Tax Payer : Sony Pictures Networks India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Revenue’s appeal against DRP-directions maintainable despite Sec 253A ‘omission’; Distinguishes Texport Overseas ruling

Jul 17, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-354-ITAT-2020(Mum)-TP
  • Tax Payer : Firemenich Aromatics (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Confirms TP-adjustment on AE-receivables; Cites excess of outstanding over available shareholder funds

Jul 17, 2020
  • In Favour of Revenue
  • Citation Number : TS-353-ITAT-2020(DEL)-TP
  • Tax Payer : Techbooks International Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Adopts internal-CUP for benchmarking interest free AE-loan; Rejects RBI prescribed ECB rate

Jul 16, 2020
  • In Favour of Assessee
  • Citation Number : TS-352-ITAT-2020(Mum)-TP
  • Tax Payer : Mercator Ltd (formerly known as Mercator Line Ltd)