Rulings ( 11951 results )

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Income tax Appellate Tribunal

ITAT: Provision of letter of comfort/ support not international transaction; Deletes TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-51-ITAT-2021(Mum)-TP
  • Tax Payer : Asian Paints Ltd
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM for trading segment absent appropriate comparables under RPM

  • In Favour of Both, Partially
  • Citation Number : TS-48-ITAT-2021(DEL)-TP
  • Tax Payer : Bergen Engines India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores TP-adjustment on corporate guarantee for verification of amount recovered in excess of 1%

  • In Favour of Assessee
  • Citation Number : TS-47-ITAT-2021(Mum)-TP
  • Tax Payer : IL & FS Transportation Networks Limited
High Court

HC: 60-days limit for passing TPO-order u/s 92CA(3A) r.w.s. 153 mandatory, not directory

  • In Favour of Assessee
  • Citation Number : TS-766-HC-2020(MAD)-TP
  • Tax Payer : PFIZER HEALTHCARE INDIA PVT LTD
Income tax Appellate Tribunal

ITAT: Figures from financial statements, not notes to accounts, to be considered for PLI-computation

  • In Favour of Assessee
  • Citation Number : TS-46-ITAT-2021(Mum)-TP
  • Tax Payer : Dilipkumar V Lakhi
High Court

HC: Sanctions change in tested party from assessee to foreign AE, contrary to TP-documentation

  • In Favour of Assessee
  • Citation Number : TS-45-HC-2021(MAD)-TP
  • Tax Payer : Virtusa Consulting Services Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on regional management charges paid to foreign-AE; Follows earlier-orders

  • In Favour of Assessee
  • Citation Number : TS-42-ITAT-2021(Mum)-TP
  • Tax Payer : Henkel Chembond Surface Technologies Limited
Income tax Appellate Tribunal

ITAT: Remits issues of comparable selection, adoption of entity level TNMM; Relies on earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-44-ITAT-2021(Mum)-TP
  • Tax Payer : TCL holdings Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for a routine trader of telecommunication equipment; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-43-ITAT-2021(Bang)-TP
  • Tax Payer : ADC India Communications Limited (formerly known as M/s. Krone Communications Limited)
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment on salary-payments to directors’ wives; Experience more relevant than educational qualification

  • In Favour of Both, Partially
  • Citation Number : TS-41-ITAT-2021(JPR)-TP
  • Tax Payer : Vibrant Academy (I) Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on royalty payment and rejects nil-ALP for managerial services; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-37-ITAT-2021(PUN)-TP
  • Tax Payer : Renishaw Metrology Systems Limited
Income tax Appellate Tribunal

ITAT: No negative working-capital adjustment for captive-service provider; Excludes 5 companies applying turnover-filter

  • In Favour of Assessee
  • Citation Number : TS-38-ITAT-2021(Bang)-TP
  • Tax Payer : Lam Research (India) Private Limited
Income tax Appellate Tribunal

ITAT: Remands issue of ALP-determination of purchase & sales considering segmental accounts

  • In Favour of Assessee
  • Citation Number : TS-40-ITAT-2021(Mum)-TP
  • Tax Payer : Supermax Personal Care Private Limited
Income tax Appellate Tribunal

ITAT: Treats forex-loss operating, considers it part of base for charging markup on cost+basis

  • In Favour of Assessee
  • Citation Number : TS-39-ITAT-2021(DEL)-TP
  • Tax Payer : CPA Global Support Services India Private Limited
High Court

HC: Holds notices issued by DRP, 4 years after ITAT's direction, time-barred u/s 153

  • In Favour of Assessee
  • Citation Number : TS-764-HC-2020(MAD)-TP
  • Tax Payer : Roca Bathroom Products Private Limited
Income tax Appellate Tribunal

ITAT: Accepts aggregated benchmarking for different transactions under manufacturing segment; Remits comparables selection

  • In Favour of Assessee
  • Citation Number : TS-36-ITAT-2021(PUN)-TP
  • Tax Payer : Mahle Behr India Limited
Income tax Appellate Tribunal

ITAT: Draft order essential before passing final assessment-order in terms of Sec. 144C; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-35-ITAT-2021(PUN)-TP
  • Tax Payer : Jain Irrigation Systems Ltd
Income tax Appellate Tribunal

ITAT: Remits MAM selection issue for distribution segment; Excludes 3 comparables for ITES-provider

  • In Favour of Assessee
  • Citation Number : TS-33-ITAT-2021(Bang)-TP
  • Tax Payer : VWR Lab Products Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on Comparables; Excludes Govt.companies, directs exercise u/s.133(6) to ascertain functions of comparable

  • In Favour of Both, Partially
  • Citation Number : TS-34-ITAT-2021(DEL)-TP
  • Tax Payer : Prometric Testing (P) Ltd
Income tax Appellate Tribunal

ITAT: Holds BLT based AMP-adjustment in case of RayBan unsustainable; Considers pendency before SC

  • In Favour of Assessee
  • Citation Number : TS-32-ITAT-2021(DEL)-TP
  • Tax Payer : RayBan Sun Optics India Ltd