Rulings ( 11960 results )

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Income tax Appellate Tribunal

ITAT: Deletes Sec. 271(1)(c)-penalty; Holds TP-adjustment on interest free AE-loans, 'debatable' issue

  • In Favour of Assessee
  • Citation Number : TS-194-ITAT-2020(Mum)-TP
  • Tax Payer : Reliance Industries Ltd
Income tax Appellate Tribunal

ITAT: Adopts LIBOR over PLR for benchmarking delayed payments from non-resident to assessee

  • In Favour of Assessee
  • Citation Number : TS-193-ITAT-2020(CHNY)-TP
  • Tax Payer : Verizon Data Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on salary reimbursement of seconded employees considering TPO’s adhoc mark-up

  • In Favour of Assessee
  • Citation Number : TS-192-ITAT-2020(Mum)-TP
  • Tax Payer : GlaxoSmithKline Pharmaceuticals Limited
Income tax Appellate Tribunal

ITAT: Allows working-capital adjustment; Rejects Revenue’s ‘unavailability of daily data’ stand, follows E-Valueserve ruling

  • In Favour of Assessee
  • Citation Number : TS-191-ITAT-2020(Bang)-TP
  • Tax Payer : Yahoo Software Development India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Negative lien provision cannot be equated with guarantee; Fixes ALP at 0.25%

  • In Favour of Both, Partially
  • Citation Number : TS-190-ITAT-2020(Mum)-TP
  • Tax Payer : Essar Shipping Ltd
Income tax Appellate Tribunal

ITAT:Denies aggregation of loans from 2 entities for determining AE-relationship; Form 3CEB-disclosure irrelevant

  • In Favour of Both, Partially
  • Citation Number : TS-189-ITAT-2020(Mum)-TP
  • Tax Payer : Soveresign Safeship Management Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts RPM for benchmarking transactions in trading segment, deletes AMP-adjustment; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-188-ITAT-2020(Bang)-TP
  • Tax Payer : Acer India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for software-developer; Permits assessee to contest comparables included in TP-study

  • In Favour of Assessee
  • Citation Number : TS-187-ITAT-2020(Bang)-TP
  • Tax Payer : Sterling Commerce Solutions India Private Ltd (Successor in interest to Curam Software International Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Excludes 6 comparables for software developer citing functional dissimilarity, upper turnover filter failure

  • In Favour of Assessee
  • Citation Number : TS-186-ITAT-2020(Bang)-TP
  • Tax Payer : Infineon Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Admits assessee’s additional evidence; Remits TP-adjustment on raw material purchases

  • In Favour of Assessee
  • Citation Number : TS-185-ITAT-2020(Mum)-TP
  • Tax Payer : Amcol Minerals And Materials India Pvt Ltd
Income tax Appellate Tribunal

ITAT: AMP-expense not international transaction if trading-segment margins at ALP; Remands for verification

  • In Favour of Both, Partially
  • Citation Number : TS-184-ITAT-2020(Bang)-TP
  • Tax Payer : Lenovo India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-issue considering AO/TPO’s erroneous understanding of assessee’s business model

  • In Favour of Assessee
  • Citation Number : TS-183-ITAT-2020(Bang)-TP
  • Tax Payer : Trainz Holdings Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination for marketing commission paid to AE; Follows earlier-order

  • In Favour of Both, Partially
  • Citation Number : TS-182-ITAT-2020(Bang)-TP
  • Tax Payer : KMF Infotech Ltd
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables for ITeS-provider; Cites sales turnover filter failure, extraordinary events, intangibles ownership

  • In Favour of Assessee
  • Citation Number : TS-181-ITAT-2020(Bang)-TP
  • Tax Payer : AON Specialist Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination of payments made to AE under cost allocation agreement

  • In Favour of Assessee
  • Citation Number : TS-180-ITAT-2020(PUN)-TP
  • Tax Payer : Bekaert Mukand Wire Industries Private Limited
High Court

HC: Allows writ against Sec 144C non-compliance post ITAT-remand; Rejects Revenue's alternate remedy refuge

  • In Favour of Assessee
  • Citation Number : TS-179-HC-2020(KAR)-TP
  • Tax Payer : Wipro GE Healthcare Pvt Ltd
Income tax Appellate Tribunal

ITAT: Product similarity irrelevant under TNMM; Accepts internal-TNMM for benchmarking AE-sales

  • In Favour of Assessee
  • Citation Number : TS-178-ITAT-2020(Mum)-TP
  • Tax Payer : Isagro (Asia) Agrochemicals Pvt Ltd
Income tax Appellate Tribunal

ITAT:Remits ALP-determination considering AO's failure to make mandatory TPO-reference as per CBDT Instruction

  • In Favour of Assessee
  • Citation Number : TS-177-ITAT-2020(Bang)-TP
  • Tax Payer : Norwich Clinical Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 2 comparables with huge turnover; Follows Pentair Water India HC-ruling

  • In Favour of Assessee
  • Citation Number : TS-176-ITAT-2020(PUN)-TP
  • Tax Payer : MAN Energy Solutions India Private Limited
Income tax Appellate Tribunal

ITAT:Excludes Eclerx, Accentia rendering KPO services for carpet designing services-provider

  • In Favour of Assessee
  • Citation Number : TS-175-ITAT-2020(PUN)-TP
  • Tax Payer : Brintons Carpets Asia Pvt Ltd