Rulings ( 11529 results )

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Income tax Appellate Tribunal

ITAT: Rejects separate taxation of non-AE transactions; Upholds combined net-profit under PSM approach

Nov 01, 2019
  • In Favour of Assessee
  • Citation Number : TS-1003-ITAT-2019(Mum)-TP
  • Tax Payer : Star International Movies Ltd.
Income tax Appellate Tribunal

ITAT: Treats forex gain as operating item; Excludes 3 comparables for captive ITES-provider

Nov 01, 2019
  • In Favour of Assessee
  • Citation Number : TS-1002-ITAT-2019(Bang)-TP
  • Tax Payer : Arctern Consulting Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds 90 days credit period reasonable for jeweller-assessee; Directs AE-receivables ALP recomputation

Nov 01, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-1001-ITAT-2019(DEL)-TP
  • Tax Payer : Bridal Jewellery Mfg Co
Income tax Appellate Tribunal

ITAT:Remits entire TP-appeal in view of APA resolution allowing Revenue’s appeal

Nov 01, 2019
  • In Favour of Revenue
  • Citation Number : TS-1000-ITAT-2019(DEL)-TP
  • Tax Payer : Marubeni India P Ltd
Income tax Appellate Tribunal

ITAT:Rejects TP-additions on optionally convertible loan, share-application money & AE-balances; Follows precedents

Oct 31, 2019
  • In Favour of Assessee
  • Citation Number : TS-999-ITAT-2019(Mum)-TP
  • Tax Payer : Reliance Life Sciences Pvt Ltd
Foreign Court

FC: US Tax Court holds Eaton not liable for penalty in dispute regarding APA cancellation

Oct 31, 2019
  • In Favour of Assessee
  • Citation Number : TS-1257-FC-2019(USA)-TP
  • Tax Payer : Eaton Corporation & Subsidiaries
Income tax Appellate Tribunal

ITAT:Rules on comparables for marketing support service provider; Relies on precedents

Oct 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-998-ITAT-2019(DEL)-TP
  • Tax Payer : Outotec India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on outstanding AE-receivables for debt free assessee; Follows earlier order

Oct 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-997-ITAT-2019(DEL)-TP
  • Tax Payer : McKinsey Knowledge Centre India
High Court

HC:Confirms Pr.CIT’s power to invoke Sec 263-proceedings against assessment order passed pursuant to DRP-directions

Oct 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-996-HC-2019(KAR)-TP
  • Tax Payer : Devas Multimedia Private Limited
Income tax Appellate Tribunal

ITAT: Applies turnover, RPT filters to exclude comparables for ITes-provider; Follows Autodesk ruling

Oct 25, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-995-ITAT-2019(Bang)-TP
  • Tax Payer : 24/7 Customer Private Ltd
Income tax Appellate Tribunal

ITAT:Rejects TPO’s Nil-ALP determination for intra-group services absent application of prescribed methods

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-994-ITAT-2019(Mum)-TP
  • Tax Payer : DSM Nutritional Products Pvt Ltd
High Court

HC:Terms writ as ‘short circuit’ approach for deciding PE-attribution issue; Redirects assessee to DRP

Oct 25, 2019
  • In Favour of Revenue
  • Citation Number : TS-993-HC-2019(MAD)-TP
  • Tax Payer : EOS GmbH-India Branch
Income tax Appellate Tribunal

ITAT: Includes companies following different-FY, loss making companies for ITeS Provider; Follows precedents

Oct 25, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-992-ITAT-2019(Mum)-TP
  • Tax Payer : Pangea3 Legal Database Systems Private Limited
Income tax Appellate Tribunal

ITAT: Excludes Persistent Systems for software developer citing functional dissimilarity though included in TP-study

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-991-ITAT-2019(Bang)-TP
  • Tax Payer : Nvidia Graphics Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects share-application money re-characterization as advance/loan considering transaction not sham; Follows precedents

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-990-ITAT-2019(Mum)-TP
  • Tax Payer : Voltas Limited
Income tax Appellate Tribunal

ITAT: Excludes 2 government companies as comparables; Follows ThyssenKrupp HC-ruling

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-989-ITAT-2019(Mum)-TP
  • Tax Payer : Siemens Power Engineering Pvt Ltd {Through their successor M/s. Siemens Ltd.,}
Income tax Appellate Tribunal

ITAT: Quashes Sec 263-revision against time-barred assessment order as illegal, bad in law

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-988-ITAT-2019(Mum)-TP
  • Tax Payer : Essar Shipping Limited
Income tax Appellate Tribunal

ITAT: Excludes Infosys and mPhasis for software development & support service provider

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-987-ITAT-2019(DEL)-TP
  • Tax Payer : ALcatel Lucent India Ltd
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)-order restricting TP-adjustment only to international transactions; Follows precedents

Oct 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-986-ITAT-2019(PUN)-TP
  • Tax Payer : Gestamp Pune Automotive India Pvt Ltd (Formerly known as Sungwoo Gestamp Hitech (Pune) Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT:Sets-aside CIT(A)'s capacity-adjustment denial in second appeal round; Remits issue to TPO

Oct 24, 2019
  • In Favour of Assessee
  • Citation Number : TS-985-ITAT-2019(DEL)-TP
  • Tax Payer : EDAG Engineering & Design India Pvt Ltd (Now known as EDAG Production Solutions P. Ltd.)