Rulings ( 11530 results )

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Income tax Appellate Tribunal

ITAT: Holds forex gains/loss, operating item; Rejects Safe-Harbour Rules reliance following precedents

Jul 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-665-ITAT-2019(DEL)-TP
  • Tax Payer : Transcend India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects Revenue’s allegation of profits diversion using tax haven in Sun Pharma’s case

Jul 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-664-ITAT-2019(Ahd)-TP
  • Tax Payer : Sun Pharmaceuticals Industries Ltd
Income tax Appellate Tribunal

ITAT: Rejects challenge to assessee’s overall-PLI determined under MAP while benchmarking non-MAP transactions

Jul 12, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-663-ITAT-2019(PUN)-TP
  • Tax Payer : Yazaki India Private Limited (Formerly known Yazaki India Limited)
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)’s TP-adjustment reduction applying +/-5% tolerance range

Jul 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-662-ITAT-2019(Mum)-TP
  • Tax Payer : J P Morgan India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables, rejects Accentia, Acropetal, TCS e-serve International for BPO service provider

Jul 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-661-ITAT-2019(PUN)-TP
  • Tax Payer : KPIT Technologies Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271G-penalty for diamond dealer, considers previous acceptance of assessee’s ALP under TNMM

Jul 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-660-ITAT-2019(Mum)-TP
  • Tax Payer : Ankit Gems Pvt Ltd
High Court

HC:Upholds exclusion of Axis Integrated for sourcing support service provider; Follows Rampgree HC-ruling

Jul 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-658-HC-2019(DEL)-TP
  • Tax Payer : LI AND FUNG (INDIA) PVT LTD
High Court

HC: Dismisses writ; Concealment penalty imposed on TP-adjustment determined under MAP, not ultra-vires

Jul 11, 2019
  • In Favour of Revenue
  • Citation Number : TS-657-HC-2019(KAR)-TP
  • Tax Payer : Toyota Kirloskar Motor Private Limited
Income tax Appellate Tribunal

ITAT: AO's failure to make TPO-reference, curable procedural irregularity; Remits outstanding AE-receivables TP-adjustment

Jul 10, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-656-ITAT-2019(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on outstanding AE-receivables as already factored in working-capital adjustment; Follows precedent

Jul 10, 2019
  • In Favour of Assessee
  • Citation Number : TS-655-ITAT-2019(DEL)-TP
  • Tax Payer : Barco Electronic Systems (P) Ltd
Income tax Appellate Tribunal

ITAT: Excludes L&T Infotech and Persistent Systems in assessee’s software development segment; Follows CGI-ruling

Jul 10, 2019
  • In Favour of Assessee
  • Citation Number : TS-654-ITAT-2019(Bang)-TP
  • Tax Payer : EMC Software and Services India Private Limited (successor in the interest of EMC Data Storage Systems (India) Private Limited)
Income tax Appellate Tribunal

ITAT: Excludes comparables with low employee-cost ratio noting ITES-segment, an employee oriented segment

Jul 10, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-653-ITAT-2019(PUN)-TP
  • Tax Payer : BNY Mellon International Operations (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on AE-loans; Relies on subsequent Settlement Commission order in own-case

Jul 10, 2019
  • In Favour of Assessee
  • Citation Number : TS-652-ITAT-2019(PUN)-TP
  • Tax Payer : Uttara Foods and Feeds Pvt Ltd
Income tax Appellate Tribunal

ITAT:Admits additional evidence supporting management-services receipt, remits issue; Follows earlier orders

Jul 10, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-651-ITAT-2019(CHNY)-TP
  • Tax Payer : Haworth (India) Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on legal, professional fees payments rejecting benefit-test application

Jul 10, 2019
  • In Favour of Assessee
  • Citation Number : TS-650-ITAT-2019(Mum)-TP
  • Tax Payer : Mubea Automotive India Private Limited (known as Mubea Automotive Components India Pvt Ltd)
Income tax Appellate Tribunal

ITAT:Confirms TP-adjustment deletion on seconded employee's salary reimbursement considering evidences submitted

Jul 09, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-649-ITAT-2019(Mum)-TP
  • Tax Payer : Thermo Fisher Scientific India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables selection for ITes-provider; Rejects negative working capital adjustment

Jul 09, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-648-ITAT-2019(Bang)-TP
  • Tax Payer : FNF India Private Limited (formerly FNF Business Process Outsourcing Services Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Excludes merchant bankers as comparable for investment advisor; Follows precedents

Jul 09, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-647-ITAT-2019(Mum)-TP
  • Tax Payer : IIML Assets Advisors Ltd
Income tax Appellate Tribunal

ITAT:Remits TP-adjustment in respect of management charges; Follows earlier order

Jul 09, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-646-ITAT-2019(Mum)-TP
  • Tax Payer : Aker Powergas Pvt Ltd
Income tax Appellate Tribunal

ITAT: Benchmarking FCCD-interest against bond interest rates, ‘fallacious’; Rejects assessee’s Safe-Harbour Rules reliance

Jul 09, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-645-ITAT-2019(DEL)-TP
  • Tax Payer : Red Fort Shahjahan Properties Pvt Ltd