Rulings ( 11533 results )

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Income tax Appellate Tribunal

ITAT:Quashes Sec 263-order; TP-addition out of ‘book profit’ adjustment u/s 115JB

Apr 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-280-ITAT-2019(Kol)-TP
  • Tax Payer : Himadri Chemicals & Industries Ltd.
Income tax Appellate Tribunal

ITAT:Upholds TP-adjustment deletion on corporate guarantee; Follows earlier order

Apr 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-279-ITAT-2019(Mum)-TP
  • Tax Payer : Everest Kanto Cylinder Ltd
Income tax Appellate Tribunal

ITAT: Accepts foreign AE as tested-party for IT/ITeS provider; Contract migration cost, not operating item

Apr 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-278-ITAT-2019(Mum)-TP
  • Tax Payer : WNS Global Services Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Accepts assessee’s aggregation approach for benchmarking royalty; Prefers TNMM over TPO’s CUP-method

Apr 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-277-ITAT-2019(DEL)-TP
  • Tax Payer : Woodward India Pvt. Ltd (Formerly known as Woodward Governor India Ltd.,)
Income tax Appellate Tribunal

ITAT: Rules on comparables selection for software development services provider; Follows precedents

Apr 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-1476-ITAT-2018(Mum)-TP
  • Tax Payer : Infor Global Solutions India Pvt. Ltd
Supreme Court

SC: Dismisses Revenue’s SLP; Upholds HC-order restricting TP-adjustment only to international transactions

Apr 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-1475-SC-2018-TP
  • Tax Payer : Hindustan Unilever Ltd
Income tax Appellate Tribunal

ITAT: Remits comparables selection, working capital & risk adjustments; Follows precedents

Apr 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-276-ITAT-2019(Bang)-TP
  • Tax Payer : 24/7 Customer P Ltd
Income tax Appellate Tribunal

ITAT: Deletes Rs.300+cr intra-group services TP-adjustment, remits interest adjustment on AE-loan following precedent

Apr 12, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-275-ITAT-2019(DEL)-TP
  • Tax Payer : B G Exploration & Production India Ltd
Income tax Appellate Tribunal

ITAT:Dismisses assessee’s second MP as time barred; HC-clarification on order revival required

Apr 12, 2019
  • In Favour of Revenue
  • Citation Number : TS-274-ITAT-2019(Bang)-TP
  • Tax Payer : Curam Software International Private Limited
Income tax Appellate Tribunal

ITAT: Upholds TNMM for benchmarking sale transaction; Holds corporate guarantee, not international transaction

Apr 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-273-ITAT-2019(Kol)-TP
  • Tax Payer : Emami Limited
Income tax Appellate Tribunal

ITAT: Grants deduction for management fees paid to AE; Service availment established

Apr 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-272-ITAT-2019(PUN)-TP
  • Tax Payer : IMC Global Technology Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds export incentive as operating income; Directs inclusion if pertaining to CY turnover

Apr 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-271-ITAT-2019(Bang)-TP
  • Tax Payer : Sami Labs Limited
Income tax Appellate Tribunal

ITAT:Rejects TPO’s aggregation approach for different manufacturing operations; Remands comparables selection

Apr 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-1472-ITAT-2018(DEL)-TP
  • Tax Payer : Beam Global Spirits & Wine India Pvt. Ltd. (Erstwhile Allied Domecq Spirits & Wine India Private Limited)
High Court

HC: Confirms AMP-adjustment deletion for Sony; Holds ITAT’s analysis ‘fairly exhaustive’ & ‘reasonable’

Apr 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-270-HC-2019(DEL)-TP
  • Tax Payer : SONY MOBILE COMMUNICATIONS
Income tax Appellate Tribunal

ITAT:Directs segregation of manufacturing activities while benchmarking import transaction in distribution segment

Apr 11, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-269-ITAT-2019(DEL)-TP
  • Tax Payer : Daikin Airconditioning India
Income tax Appellate Tribunal

ITAT:No hearing opportunity necessary before TPO-reference despite amendment to Sec 92CA(4)

Apr 11, 2019
  • In Favour of Revenue
  • Citation Number : TS-268-ITAT-2019(Bang)-TP
  • Tax Payer : Engie Energy and Services India Pvt Ltd (formerly GDF Suez Energy India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Modifies Tribunal-order to clarify reliance on Commscope, Saxo ruling for E-Infochips exclusion

Apr 11, 2019
  • In Favour of Revenue
  • Citation Number : TS-267-ITAT-2019(Bang)-TP
  • Tax Payer : Finastra Software Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds exclusion of Excel Infoways for ITeS-provider; Follows Emerson Climate ruling

Apr 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-266-ITAT-2019(PUN)-TP
  • Tax Payer : Credit Pointe Services Pvt Ltd
Income tax Appellate Tribunal

ITAT:Accepts cost allocation of project expenses; Relies on auditor’s certification absent proven infirmities

Apr 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-265-ITAT-2019(DEL)-TP
  • Tax Payer : Bramco WLL
Income tax Appellate Tribunal

ITAT: Huge AMP-expenses not ground to infer ‘international transaction’ presence; Deletes adjustment

Apr 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-264-ITAT-2019(DEL)-TP
  • Tax Payer : Moet Hennessy India Private Ltd