Rulings ( 11960 results )

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Income tax Appellate Tribunal

ITAT: Rejects aggregated benchmarking of payments for Royalty providing separate identifiable deliverables

  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2020(Kol)-TP
  • Tax Payer : Vesuvius India Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables for software-developer citing high turnover, brand value, intangibles ownership etc.

  • In Favour of Assessee
  • Citation Number : TS-241-ITAT-2020(Bang)-TP
  • Tax Payer : Fidelity Business Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts aggregation of trading and manufacturing segments for Toyota; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2020(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motor (P) Ltd
Income tax Appellate Tribunal

ITAT:Remits ALP-determination of technical fees absent Rule 10B, 10AB application while applying benefit-test

  • In Favour of Both, Partially
  • Citation Number : TS-239-ITAT-2020(Mum)-TP
  • Tax Payer : UPS Express Private Ltd (Formerly known as UPS Jetair Express Private Ltd)
Income tax Appellate Tribunal

ITAT:Final assessment order passed sans draft-order against Sec 144C mandate; Upholds TP-adjustment deletion

  • In Favour of Assessee
  • Citation Number : TS-238-ITAT-2020(COCH)-TP
  • Tax Payer : Olam Agro India Pvt Ltd
Income tax Appellate Tribunal

ITAT:TP-provisions inapplicable to income covered under tonnage tax scheme, deletes TP-adjustments

  • In Favour of Assessee
  • Citation Number : TS-237-ITAT-2020(Mum)-TP
  • Tax Payer : Essar Shipping Ltd
Income tax Appellate Tribunal

ITAT:Disapproves ‘cherry picking’ comparables without understanding assessee’s business model; Sets aside issue

  • In Favour of Both, Partially
  • Citation Number : TS-236-ITAT-2020(Bang)-TP
  • Tax Payer : Ingersoll Rand (India) Ltd
Income tax Appellate Tribunal

ITAT: Rejects TPO’s PSM for Royalty ALP-determination absent AE's role in assessee's profit making

  • In Favour of Assessee
  • Citation Number : TS-235-ITAT-2020(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt Ltd
Income tax Appellate Tribunal

ITAT:Rejects HO's engineering-support functional characterization for Project-Office providing merely business support services

  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2020(DEL)-TP
  • Tax Payer : Hyundai Rotem Company
Income tax Appellate Tribunal

ITAT:Remits entire TP-matter back to DRP for passing speaking and reasoned order

  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2020(Bang)-TP
  • Tax Payer : Puma Sports India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 8 comparables for software-development, sales/marketing support segments; Follows Electronic Imaging ruling

  • In Favour of Both, Partially
  • Citation Number : TS-223-ITAT-2020(Bang)-TP
  • Tax Payer : Infinera India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Retains 2, excludes 1 comparable for non–binding investment advisor; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-222-ITAT-2020(Mum)-TP
  • Tax Payer : Clearwater Capital Partners India Pvt Ltd (Earlier known as Altico Capital India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Excludes 7 comparables for NetScout; Cites unavailability of segmental information, functional dissimilarity etc.

  • In Favour of Assessee
  • Citation Number : TS-221-ITAT-2020(Bang)-TP
  • Tax Payer : Net Scout Systems Software India Private Limited
Income tax Appellate Tribunal

ITAT: Directs adoption of applicable LIBOR to benchmark interest free AE-loan; Follows Vaibhav Gems

  • In Favour of Assessee
  • Citation Number : TS-220-ITAT-2020(Ahd)-TP
  • Tax Payer : Amol Dicalite Limited
Income tax Appellate Tribunal

ITAT: Sony's channel-distribution fee payment not ‘royalty’ absent rights on content broadcasted

  • In Favour of Assessee
  • Citation Number : TS-219-ITAT-2020(Mum)-TP
  • Tax Payer : Sony Pictures Networks India Pvt Ltd [Successor of MSM Discovery (P) Ltd]
High Court

HC: Dismisses Revenue’s appeal against ITAT order on AMP-adjustment; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-218-HC-2020(DEL)-TP
  • Tax Payer : Valvoline Cummins Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271G-penalty for diamond trader considering sufficient compliance of TP-provisions

  • In Favour of Assessee
  • Citation Number : TS-217-ITAT-2020(Mum)-TP
  • Tax Payer : Decent Dia jewels Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs AO to adopt 0.92 as corporate guarantee ALP; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-216-ITAT-2020(HYD)-TP
  • Tax Payer : Sutherland Healthcare Solutions Private Limited (Formerly known as Apollo Health Street Ltd
Income tax Appellate Tribunal

ITAT:Directs fresh comparability analysis adopting RPM as MAM in trading-segment; Follows earlier-orders

  • In Favour of Both, Partially
  • Citation Number : TS-215-ITAT-2020(Bang)-TP
  • Tax Payer : Avnet India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes reassessment based on invalid TP-order, non-adherence to DRP’s binding directions

  • In Favour of Assessee
  • Citation Number : TS-214-ITAT-2020(Kol)-TP
  • Tax Payer : Nomura Research Institute Financial Technologies India Private Limited