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Income tax Appellate Tribunal

ITAT: Excludes 8 comparables citing high turnover, functional dissimilarity for software developer

Feb 25, 2020
  • In Favour of Assessee
  • Citation Number : TS-140-ITAT-2020(Bang)-TP
  • Tax Payer : Mformation Software Technologies (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s adoption of internal TNMM; Excludes 3 comparables for ITeS-provider

Feb 25, 2020
  • In Favour of Assessee
  • Citation Number : TS-139-ITAT-2020(Bang)-TP
  • Tax Payer : E4E Business Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds internal-TNMM for purchase transactions; Deletes TP-adjustment on corporate support services payments

Feb 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-138-ITAT-2020(PUN)-TP
  • Tax Payer : Eaton Fluid Power Limited
Income tax Appellate Tribunal

ITAT: Remits issue of selection of MAM and ALP-determination for advisory-services, follows precedents

Feb 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-137-ITAT-2020(PUN)-TP
  • Tax Payer : Emerson Climate Technologies (India) Private Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of Acer India’s AMP-adjustment; Follows subsequent year order

Feb 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-136-ITAT-2020(Bang)-TP
  • Tax Payer : Acer India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits management fees TP-adjustment to consider applicability of subsequent year APA

Feb 24, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-135-ITAT-2020(PUN)-TP
  • Tax Payer : Cummins India Limited
Income tax Appellate Tribunal

ITAT:Remits comparables; Directs TPO to consistently apply forex income filter

Feb 24, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-134-ITAT-2020(Bang)-TP
  • Tax Payer : Kintetsu World Express (India) Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 2 high turnover comparables for software developer; Follows Nielsen, Genisys rulings

Feb 24, 2020
  • In Favour of Assessee
  • Citation Number : TS-133-ITAT-2020(Bang)-TP
  • Tax Payer : Ametek Instruments India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Stresses on ‘similar’ comparables selection irrespective of TP-method; Rejects TNMM for trading-segment

Feb 24, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-132-ITAT-2020(PUN)-TP
  • Tax Payer : MTU India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of notional interest on export receivables; Follows earlier orders

Feb 21, 2020
  • In Favour of Assessee
  • Citation Number : TS-131-ITAT-2020(Mum)-TP
  • Tax Payer : WNS Global Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: AO’s SDT non-reference to TPO not erroneous/prejudicial; Quashes revision order citing Sec 92BA(i)-withdrawal

Feb 21, 2020
  • In Favour of Assessee
  • Citation Number : TS-130-ITAT-2020(Kol)-TP
  • Tax Payer : Kritika Wires Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal; Confirms DRP’s order excluding/including comparables

Feb 21, 2020
  • In Favour of Assessee
  • Citation Number : TS-129-ITAT-2020(PUN)-TP
  • Tax Payer : FIS Solutions (India) Private Limited, Formerly known as M/s. SunGard Solutions India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Grants economic adjustment on imports on account of excess AMP-spend vis-a-vis comparables

Feb 21, 2020
  • In Favour of Assessee
  • Citation Number : TS-128-ITAT-2020(Mum)-TP
  • Tax Payer : General Mills India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds segregation of Distribution, Production segments; Rejects TPO’s incorrect comparable margin computation

Feb 20, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-127-ITAT-2020(PUN)-TP
  • Tax Payer : MAN Diesel & Turbo India Pvt Ltd
Income tax Appellate Tribunal

ITAT:No Sec.271BA-penalty for non-furnishing Form 3CEB to report SDT considering Sec 92BA(i) omission

Feb 20, 2020
  • In Favour of Assessee
  • Citation Number : TS-126-ITAT-2020(CTK)-TP
  • Tax Payer : SKM-UMSL JV
Income tax Appellate Tribunal

ITAT:Sets aside DRP’s ‘cryptic order’ rejecting assessee’s objections sans cogent, germane reasons

Feb 20, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-125-ITAT-2020(Bang)-TP
  • Tax Payer : Walvoil Fluid Power India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables applying Rs1-200cr turnover filter; Deletes negative working capital adjustment

Feb 20, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-123-ITAT-2020(Bang)-TP
  • Tax Payer : Digital Juice Animations Private Limited
Income tax Appellate Tribunal

ITAT: Includes Caliber Point, excludes MPS Limited as comparables for ITeS-provider; Follows precedents

Feb 19, 2020
  • In Favour of Assessee
  • Citation Number : TS-122-ITAT-2020(Mum)-TP
  • Tax Payer : Maersk Global Service Centres India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Thirdware Solutions citing unavailability of segmental details; Follows precedents

Feb 19, 2020
  • In Favour of Assessee
  • Citation Number : TS-121-ITAT-2020(PUN)-TP
  • Tax Payer : Velocity Tech-Sol India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in software, ITeS segments; Remits outstanding AE-receivables TP-adjustment

Feb 19, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-120-ITAT-2020(Bang)-TP
  • Tax Payer : CGI Information Systems & Management Consultation Pvt Ltd (Formerly M/s.Logica Pvt. Ltd.)