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Income tax Appellate Tribunal

ITAT:Treats FOREX gain/loss, bank charges, doubtful debts as operating; Rules on comparables

Feb 13, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-99-ITAT-2020(DEL)-TP
  • Tax Payer : Lockheed Martin India (P) Ltd
Income tax Appellate Tribunal

ITAT: Accepts foreign-AE as tested party, CPM as MAM for export of software services

Feb 12, 2020
  • In Favour of Assessee
  • Citation Number : TS-98-ITAT-2020(Kol)-TP
  • Tax Payer : ITC Infotech India Ltd
Income tax Appellate Tribunal

ITAT: Remits comparables selection for software development, sales and marketing segments

Feb 12, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-97-ITAT-2020(Bang)-TP
  • Tax Payer : Metric Stream Infotech (India) Private Limited
Income tax Appellate Tribunal

ITAT:Upholds TP-adjustment deletion on AE-exports sans TPO establishing profit shifting to AE

Feb 12, 2020
  • In Favour of Assessee
  • Citation Number : TS-96-ITAT-2020(VIZ)-TP
  • Tax Payer : CCL Products (India) Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment on intra-group services, Contract R&D services; Follows earlier-order

Feb 12, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-95-ITAT-2020(Kol)-TP
  • Tax Payer : Akzo Nobel India Limited
Income tax Appellate Tribunal

ITAT: Reprimands TPO's callous approach in making adhoc TP-addition, keeping issue unsettled for 10 years

Feb 12, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-94-ITAT-2020(Bang)-TP
  • Tax Payer : LM Wind Power Blades (India) Private Limited
Income tax Appellate Tribunal

ITAT:Deletes AMP-adjustment absent assessee-AE agreement; Follows Maruti, Whirlpool HC-rulings

Feb 11, 2020
  • In Favour of Assessee
  • Citation Number : TS-93-ITAT-2020(Bang)-TP
  • Tax Payer : Essilor India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts CPM for benchmarking raw material purchased from AE without value addition

Feb 11, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-92-ITAT-2020(JPR)-TP
  • Tax Payer : Mytex Polymers India Pvt Ltd.
Income tax Appellate Tribunal

ITAT:Excludes L&T Infotech, Persistent Systems as comparables for software developer; Follows precedent

Feb 11, 2020
  • In Favour of Assessee
  • Citation Number : TS-91-ITAT-2020(Bang)-TP
  • Tax Payer : Synamedia India Pvt Ltd (formerly known as Cisco Video Technologies India Pvt Ltd)
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on intra-group services considering actual service rendition; Follows precedents

Feb 11, 2020
  • In Favour of Assessee
  • Citation Number : TS-90-ITAT-2020(DEL)-TP
  • Tax Payer : GBT India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 6, remits 4 and includes 1 comparable for software development service provider

Feb 11, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-89-ITAT-2020(Bang)-TP
  • Tax Payer : Microsoft Research Lab India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in software development, ITES segments; Remits working capital adjustment

Feb 11, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-88-ITAT-2020(Bang)-TP
  • Tax Payer : Citrix R&D India Private Ltd
Income tax Appellate Tribunal

ITAT: Applies MAP mark-up with Australian-AEs representing 90.53% of turnover to non-Australian AEs

Feb 10, 2020
  • In Favour of Revenue
  • Citation Number : TS-87-ITAT-2020(Bang)-TP
  • Tax Payer : ANZ Support Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Upholds customs duty adjustment to Indian tested party’s margin while benchmarking imports

Feb 10, 2020
  • In Favour of Assessee
  • Citation Number : TS-86-ITAT-2020(DEL)-TP
  • Tax Payer : Swatch Group [India[ Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits applicability of MAP-agreed margin to transactions with non-MAP entities; Follows Global e-Business ruling

Feb 10, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-85-ITAT-2020(Bang)-TP
  • Tax Payer : Oracle Solutions Services (India) Pvt Ltd
High Court

HC:Admits appeal against treatment of Reliance’s non-funded corporate guarantee as international transaction

Feb 10, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-84-HC-2020(BOM)-TP
  • Tax Payer : Reliance Industries Ltd
High Court

HC:Admits appeal against treatment of non-funded 'corporate guarantee” as international transaction

Feb 10, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-83-HC-2020(BOM)-TP
  • Tax Payer : Reliance Industries Ltd
High Court

HC: Admits Revenue’s appeal against assessee’s aggregation of commission transactions under TNMM

Feb 10, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-82-HC-2020(BOM)-TP
  • Tax Payer : Bobst India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on intra-group services, brokerage income; Rules on comparables for institutional equity broker

Feb 07, 2020
  • In Favour of Assessee
  • Citation Number : TS-81-ITAT-2020(Mum)-TP
  • Tax Payer : CLSA India P. Ltd., (Formerly CLS India Ltd)
Income tax Appellate Tribunal

ITAT: Upholds TPO's LIBOR+bps for benchmarking AE-loan; Remits outstanding AE-receivables TP-adjustment

Feb 07, 2020
  • In Favour of Both, Partially
  • Citation Number : TS-80-ITAT-2020(HYD)-TP
  • Tax Payer : GSS Infotech Ltd