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Income tax Appellate Tribunal

ITAT: Deletes Sec 271(1)(c)-penalty; Difference in comparables selection neither concealment not furnishing inaccurate particulars

Aug 01, 2019
  • In Favour of Assessee
  • Citation Number : TS-729-ITAT-2019(PUN)-TP
  • Tax Payer : Ensim India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-addition on interest on AE-receivables; Remits TP-adjustment on contract manufacturing transactions

Aug 01, 2019
  • In Favour of Assessee
  • Citation Number : TS-728-ITAT-2019(DEL)-TP
  • Tax Payer : Hella India Lighting Ltd
Income tax Appellate Tribunal

ITAT: Directs TPO to re-determine TP-adjustment accepting AE’s-margin at 0.5%; Follows earlier orders

Jul 31, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-727-ITAT-2019(Mum)-TP
  • Tax Payer : Aranca (Mumbai) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Eclerx for BPO service-provider; Upholds exclusion of prior-period expenses for PLI-computation

Jul 31, 2019
  • In Favour of Assessee
  • Citation Number : TS-726-ITAT-2019(PUN)-TP
  • Tax Payer : TriZetto Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustments on AE-sales and royalty for assessee manufacturer; Follows earlier order

Jul 31, 2019
  • In Favour of Assessee
  • Citation Number : TS-725-ITAT-2019(Mum)-TP
  • Tax Payer : ASB International P Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on shares-premium shortfall, rules on comparables selection; Follows precedents

Jul 31, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-724-ITAT-2019(Mum)-TP
  • Tax Payer : J.P. Morgan Advisors India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT:Restores TP-adjustment on payment of technical assistance; Follows earlier-orders

Jul 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-723-ITAT-2019(Mum)-TP
  • Tax Payer : CWT India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules in assessee’s favour; Excludes 11 comparables for ITeS provider

Jul 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-722-ITAT-2019(Mum)-TP
  • Tax Payer : Morgan Stanley Advantage Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds aggregation approach, rejects benefit test for corporate charges benchmarking; Deletes TP-adjustment

Jul 30, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-721-ITAT-2019(DEL)-TP
  • Tax Payer : Aricent Technologies (Holdings) Ltd
Income tax Appellate Tribunal

ITAT: Holds assessee an ITeS-provider, not KPO; Rules on comparables & remits AE-receivables issue

Jul 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-720-ITAT-2019(HYD)-TP
  • Tax Payer : HSBC Electronic Data Processing India P Ltd
Income tax Appellate Tribunal

ITAT: Disapproves TPO’s linking of assessee’s profitability to royalty payment for justifying Nil-ALP

Jul 30, 2019
  • In Favour of Assessee
  • Citation Number : TS-719-ITAT-2019(DEL)-TP
  • Tax Payer : Bain & Company India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Accepts assessee’s RPM for imports following earlier-order; Remits AE-receivables issue

Jul 29, 2019
  • In Favour of Assessee
  • Citation Number : TS-718-ITAT-2019(Bang)-TP
  • Tax Payer : Randox Laboratories India Private Limited
Income tax Appellate Tribunal

ITAT: Considers reversal of regional office expenses in margin computation; Follows Logica ruling

Jul 29, 2019
  • In Favour of Assessee
  • Citation Number : TS-717-ITAT-2019(Mum)-TP
  • Tax Payer : ANZ Capital Pvt Ltd
Income tax Appellate Tribunal

ITAT: Determines corporate guarantee fee ALP at 0.5%; Follows earlier order

Jul 29, 2019
  • In Favour of Assessee
  • Citation Number : TS-716-ITAT-2019(Mum)-TP
  • Tax Payer : Cox & Kings Limited
Income tax Appellate Tribunal

ITAT:Deletes Ad-hoc adjustment for regional office expenses; Follows earlier order

Jul 29, 2019
  • In Favour of Assessee
  • Citation Number : TS-715-ITAT-2019(Mum)-TP
  • Tax Payer : Det Norske Veritas AS
Income tax Appellate Tribunal

ITAT:Quashes Sec 263-order; AO’s SDT non-reference to TPO not erroneous/ prejudicial considering Sec.92B(1) omission

Jul 29, 2019
  • In Favour of Assessee
  • Citation Number : TS-714-ITAT-2019(Ind)-TP
  • Tax Payer : Swastik Coal Corporation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal; Upholds CIT(A)’s exclusion of 6 comparables citing high-turnover, abnormal profits

Jul 26, 2019
  • In Favour of Assessee
  • Citation Number : TS-713-ITAT-2019(PUN)-TP
  • Tax Payer : NetHawk Networks India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rectifies mistake in ITAT-order; Remits comparability of 3 companies for fresh adjudication

Jul 26, 2019
  • In Favour of Assessee
  • Citation Number : TS-712-ITAT-2019(Bang)-TP
  • Tax Payer : MetricStream Infotech (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts RPM for benchmarking Swarovski’s crystal imports; Remits AMP-issue

Jul 26, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-711-ITAT-2019(DEL)-TP
  • Tax Payer : Swarovski India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes intra-group services TP-adjustment, remits royalty TP-adjustment; Follows earlier order

Jul 26, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-710-ITAT-2019(DEL)-TP
  • Tax Payer : AT & T Global Network Services (India) Private Limited