Rulings ( 11960 results )

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Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment; Remits alternate TP-adjustment on account of packaging cost, training etc

  • In Favour of Assessee
  • Citation Number : TS-387-ITAT-2020(Mum)-TP
  • Tax Payer : L‟Oreal India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables citing functional-dissimilarity and different in financial year ends

  • In Favour of Both, Partially
  • Citation Number : TS-386-ITAT-2020(Mum)-TP
  • Tax Payer : Exxon Mobil Company India Pvt
Income tax Appellate Tribunal

ITAT: Applies APA-price agreed with amalgamated entity to rollback year pre-amalgamation

  • In Favour of Assessee
  • Citation Number : TS-385-ITAT-2020(Bang)-TP
  • Tax Payer : Texas Instruments (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: IBM India’s Sec 10AA claim allowable, including on incremental income arising pursuant to APA

  • In Favour of Assessee
  • Citation Number : TS-384-ITAT-2020(Bang)-TP
  • Tax Payer : IBM India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes HCL, HP Globalsoft citing high RPT, Satyam citing unreliable financials for software developer

  • In Favour of Assessee
  • Citation Number : TS-383-ITAT-2020(DEL)-TP
  • Tax Payer : Cadence Design Systems (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Includes TCS E- serve for ITeS-provider absent Tata Brand impact evidence; Rejects recharacterization as KPO

  • In Favour of Assessee
  • Citation Number : TS-382-ITAT-2020(DEL)-TP
  • Tax Payer : Smart Cube India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes royalty TP-adjustment sans AE's exploitation of assessee's product licenses; Distinguishes Dabur India ruling

  • In Favour of Assessee
  • Citation Number : TS-381-ITAT-2020(Bang)-TP
  • Tax Payer : The Himalaya Drug Company
Income tax Appellate Tribunal

ITAT: Remits comparables-selection citing wide range of PLI of comparables selected by TPO

  • In Favour of Both, Partially
  • Citation Number : TS-380-ITAT-2020(HYD)-TP
  • Tax Payer : Vitech Systems Asia Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts USD “LIBOR plus” rate for benchmarking software developer’s outstanding foreign AE-receivables

  • In Favour of Assessee
  • Citation Number : TS-378-ITAT-2020(HYD)-TP
  • Tax Payer : United Online Software Development (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT:Rejects invoking Sec 92B(2) deeming provision for loans to domestic group-entity pre-2014 amendment

  • In Favour of Assessee
  • Citation Number : TS-377-ITAT-2020(Mum)-TP
  • Tax Payer : Regus Business Centre Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds APA has persuasive value beyond rollback-years absent change in FAR

  • In Favour of Assessee
  • Citation Number : TS-376-ITAT-2020(DEL)-TP
  • Tax Payer : FIS Global Business Solutions India Private Limited
Income tax Appellate Tribunal

ITAT:Includes 3 comparables for manufacturer, rejecting Revenue’s persistent loss-making plea; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-375-ITAT-2020(Mum)-TP
  • Tax Payer : Cheminova India Limited
Income tax Appellate Tribunal

ITAT: If comparables excluded on main ground, adjudication of other grounds irrelevant; Dismisses assessee’s MP

  • In Favour of Assessee
  • Citation Number : TS-374-ITAT-2020(Bang)-TP
  • Tax Payer : IZMO Ltd [formerly Logix Microsystems Ltd.]
Income tax Appellate Tribunal

ITAT: Accepts TNMM as MAM for Lubrizol’s AE-exports benchmarking, applies rule of consistency

  • In Favour of Assessee
  • Citation Number : TS-373-ITAT-2020(Mum)-TP
  • Tax Payer : Lubrizol India Private Limited
Income tax Appellate Tribunal

ITAT:Deletes royalty disallowance u/s.40A(2)(b); Rejects AO's comparison with earlier-year percentile without determining FMV

  • In Favour of Assessee
  • Citation Number : TS-372-ITAT-2020(DEL)-TP
  • Tax Payer : DE Diamond Electric India Pvt Ltd
Income tax Appellate Tribunal

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

  • 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

  • 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

  • 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

  • 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

  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2020(Mum)-TP
  • Tax Payer : Morgan Stainley Advantage Services P. Ltd