Rulings ( 11966 results )

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Income tax Appellate Tribunal

ITAT:Confirms validity of tax-return filed without Form 3CEB absent AO’s defect intimation; Quashes reassessment

  • In Favour of Assessee
  • Citation Number : TS-870-ITAT-2019(PUN)-TP
  • Tax Payer : Husco Hydraulics Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 5 comparables by applying Rs.200 crores upper-turnover filter; Follows Genisys ruling

  • In Favour of Assessee
  • Citation Number : TS-869-ITAT-2019(Bang)-TP
  • Tax Payer : IGEFI Software India Pvt Ltd (Formerly Finch Software India Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Excludes Infosys BPO, TCS E-Serve for assessee-BPO citing high turnover and brand benefits

  • In Favour of Assessee
  • Citation Number : TS-868-ITAT-2019(DEL)-TP
  • Tax Payer : Astra Business Services P Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment; Accepts jeweller-assessee’s entity-level benchmarking for domestic transaction of stock purchase

  • In Favour of Assessee
  • Citation Number : TS-867-ITAT-2019(PUN)-TP
  • Tax Payer : P N Gadgil Jewellers Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes functionally-dissimilar eClerx; Excludes TCS e-Serve & Infosys BPO applying turnover filter

  • In Favour of Assessee
  • Citation Number : TS-866-ITAT-2019(Kol)-TP
  • Tax Payer : Data Core (India) Private Limited (merged with DCG Data-Core Systems (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rules on DRP’s scope; Holds restoring fresh-ALP determination to AO/TPO outside DRP’s jurisdiction

  • In Favour of Assessee
  • Citation Number : TS-865-ITAT-2019(PUN)-TP
  • Tax Payer : Capstone Securities Analysis Pvt Ltd
Income tax Appellate Tribunal

ITAT:Excludes comparables in software development & ITeS segments; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-864-ITAT-2019(HYD)-TP
  • Tax Payer : Medpluxes India Pvt. Ltd
High Court

HC:Dismisses Revenue’s appeal; Reiterates TP-regime, anti-tax avoidance, not anti-tax evasion provision

  • In Favour of Assessee
  • Citation Number : TS-863-HC-2019(BOM)-TP
  • Tax Payer : Visteon Engineering Centre (India) Pvt Ltd
High Court

HC:Dismisses Revenue’s appeal; Upholds ITAT’s exclusion of 2 functionally dissimilar comparables

  • In Favour of Assessee
  • Citation Number : TS-862-HC-2019(BOM)-TP
  • Tax Payer : Visteon Engineering Centre (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination of corporate service charges; Directs consideration of intercompany agreement

  • In Favour of Assessee
  • Citation Number : TS-861-ITAT-2019(DEL)-TP
  • Tax Payer : Bentley Systems India Private Limited
Income tax Appellate Tribunal

ITAT: Cash-PLI not restrictive to capital intensive industry, accepts application for software developer

  • In Favour of Assessee
  • Citation Number : TS-860-ITAT-2019(Kol)-TP
  • Tax Payer : Net Guru Ltd
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables, remits 3, for ITes-provider; Remits outstanding AE-receivables adjustment issue

  • In Favour of Both, Partially
  • Citation Number : TS-858-ITAT-2019(Bang)-TP
  • Tax Payer : Indecomm Global Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds royalty TP-adjustment deletion for Benetton India; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-857-ITAT-2019(DEL)-TP
  • Tax Payer : Benetton India P Ltd
Income tax Appellate Tribunal

ITAT: Upholds exclusion of Acropetal, L&T Infotech & E-Infochips for software developer

  • In Favour of Both, Partially
  • Citation Number : TS-856-ITAT-2019(Bang)-TP
  • Tax Payer : Emulex Communications Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on Goodyear’s Regional Service Charges payments citing evidence of service availment

  • In Favour of Assessee
  • Citation Number : TS-855-ITAT-2019(PUN)-TP
  • Tax Payer : Goodyear South Asia Tyres Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes AMP-adjustment citing Revenue’s failure to establish international transaction; Follows earlier ruling

  • In Favour of Assessee
  • Citation Number : TS-854-ITAT-2019(DEL)-TP
  • Tax Payer : Le Passage to India Tours & Travels Pvt Ltd
Income tax Appellate Tribunal

ITAT:Upholds royalty TP-adjustment deletion as ALP established while benchmarking exports; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-853-ITAT-2019(DEL)-TP
  • Tax Payer : Cornell Overseas Private Ltd
Income tax Appellate Tribunal

ITAT:Adopts LIBOR+170bps as interest benchmark for AE-loan; Rejects 500bps markup as 'unjustified'

  • In Favour of Assessee
  • Citation Number : TS-852-ITAT-2019(DEL)-TP
  • Tax Payer : Aithent Technologies Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Rejects entity level TP-adjustment; Forex gain/loss arising from revenue transactions, operating item

  • In Favour of Assessee
  • Citation Number : TS-851-ITAT-2019(Mum)-TP
  • Tax Payer : New Holland Fiat (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s 1% as ALP for guarantee-fee for factoring facilities, follows earlier ruling

  • In Favour of Assessee
  • Citation Number : TS-850-ITAT-2019(Mum)-TP
  • Tax Payer : Glenmark Pharmaceuticals Ltd