Rulings ( 11951 results )

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Income tax Appellate Tribunal

ITAT: Considers forex gain as operating item; Rejects Revenue’s application of safe harbour rules

  • In Favour of Assessee
  • Citation Number : TS-29-ITAT-2021(PUN)-TP
  • Tax Payer : Delval Flow Controls Private Limited
Income tax Appellate Tribunal

ITAT: Upholds TNMM over TPO’s CUP for intra-group services benchmarking; Confirms TP-adjustment deletion

  • In Favour of Assessee
  • Citation Number : TS-31-ITAT-2021(DEL)-TP
  • Tax Payer : Knorr Bremse India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats forex as operating, restricts TP-adjustment to AE-transactions; Excludes 3, includes 1 as comparables

  • In Favour of Assessee
  • Citation Number : TS-28-ITAT-2021(PUN)-TP
  • Tax Payer : Synechron Technologies Private Limited
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustment to AE-transaction; Remits treatment of IT Support service charges as operating/non-operating

  • In Favour of Both, Partially
  • Citation Number : TS-30-ITAT-2021(PUN)-TP
  • Tax Payer : Knorr Bremse Systems for Commercial Vehicles India Private Limited (“KB India”)
Income tax Appellate Tribunal

ITAT: Grants working-capital adjustment, remits risk-adjustment; Rules on comparables selection

  • In Favour of Both, Partially
  • Citation Number : TS-25-ITAT-2021(PUN)-TP
  • Tax Payer : BMC Software India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes Sec.271(1)(c)-penalty since ALP-adjustment deleted in quantum appeal; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-26-ITAT-2021(DEL)-TP
  • Tax Payer : Genpact Infrastructure (Hyderabad) Private Limited
Income tax Appellate Tribunal

ITAT: Excludes CTR Manufacturing Industries for manufacturing-segment, cites non-availability of segmental information

  • In Favour of Assessee
  • Citation Number : TS-27-ITAT-2021(PUN)-TP
  • Tax Payer : Vishay Components India Private Limited
Foreign Court

FC: Danish Tax Court rules on interest on deposits under cash-pooling transaction, upholds risk-margin attribution

  • In Favour of Both, Partially
  • Citation Number : TS-763-FC-2020-TP
  • Tax Payer : [X] Danish Company
Income tax Appellate Tribunal

ITAT: Excludes 2, Includes 1 as comparables for ITeS-provider; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-24-ITAT-2021(PUN)-TP
  • Tax Payer : Ocwen Financial Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: PSU engaged in technical consultancy for infrastructure development not comparable to Havells India

  • In Favour of Assessee
  • Citation Number : TS-23-ITAT-2021(DEL)-TP
  • Tax Payer : Havells India Ltd
Income tax Appellate Tribunal

ITAT: No separate order required for 2 assessees’, if issues considered independently; Dismisses assessee’s-MP

  • In Favour of Both, Partially
  • Citation Number : TS-22-ITAT-2021(Bang)-TP
  • Tax Payer : Ingersoll Rand (India) Ltd
High Court

HC: Final order passed sans draft order substantive error, not technical lapse; Allows assessee’s writ

  • In Favour of Assessee
  • Citation Number : TS-21-HC-2021(MAD)-TP
  • Tax Payer : GE Oil & Gas India Private Ltd
Income tax Appellate Tribunal

ITAT: Overruling wrong application of method doesn’t rule out its selection; Dismisses assessee’s-MA

  • In Favour of Revenue
  • Citation Number : TS-20-ITAT-2021(PUN)-TP
  • Tax Payer : Carraro India Private Limited
High Court

HC: Sub-sections (1) & (2) of Sec. 92A interlinked; Jockey-USA & Indian licensee not AEs absent Sec 92A(1) fulfillment

  • In Favour of Assessee
  • Citation Number : TS-19-HC-2021(KAR)-TP
  • Tax Payer : Page Industries Ltd
Foreign Court

FC: Panama Tax Court upholds RPM as MAM for petroleum purchase; Stresses on need for consistency in TP-documentation

  • In Favour of Revenue
  • Citation Number : TS-762-FC-2020(PNM)-TP
  • Tax Payer : Panamanian Taxpayer
Income tax Appellate Tribunal

ITAT: Rules on comparables; Holds Accentia Technologies as comparable to BPO service provider

  • In Favour of Both, Partially
  • Citation Number : TS-18-ITAT-2021(DEL)-TP
  • Tax Payer : Serco BPO Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs examination of tested-party margins considering assessee’s objections, remits issue

  • In Favour of Assessee
  • Citation Number : TS-17-ITAT-2021(DEL)-TP
  • Tax Payer : Sany Heavy Industry India Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal against ITAT’s remand of loan syndication fee attribution issue

  • In Favour of Assessee
  • Citation Number : TS-760-HC-2020(BOM)-TP
  • Tax Payer : RBS Financial Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on treatment of forex gains and comparables for Software-developer

  • In Favour of Both, Partially
  • Citation Number : TS-14-ITAT-2021(Bang)-TP
  • Tax Payer : CSG Systems International (India) Private Limited
High Court

HC: Dismisses Revenue’s appeal challenging comparables exclusion absent substantial question of law

  • In Favour of Assessee
  • Citation Number : TS-13-HC-2021(DEL)-TP
  • Tax Payer : Microsoft India (R&D) Pvt. Ltd