Rulings ( 11623 results )

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Income tax Appellate Tribunal

ITAT: Remits royalty TP-adjustment for assessee manufacturer; Follows earlier-order

Mar 14, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-147-ITAT-2019(DEL)-TP
  • Tax Payer : Progressive Tools & Components Pvt Ltd
Income tax Appellate Tribunal

ITAT: Higher TP-margins no ground to deny tax-holiday by invoking Sec 10A(7)/10AA(9) r.w.s. 80IA(10); Follows precedents

Mar 14, 2019
  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2019(PUN)-TP
  • Tax Payer : Honeywell Automation India Limited
Income tax Appellate Tribunal

ITAT: Directs weighted-average price adoption for benchmarking carpet AE-sales; Considers quality, design differences

Mar 14, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-145-ITAT-2019(JPR)-TP
  • Tax Payer : Jaipur Rugs Company Pvt Ltd
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)’s deletion of TP-adjustment on LNG-import; Follows earlier orders

Mar 14, 2019
  • In Favour of Assessee
  • Citation Number : TS-144-ITAT-2019(Ahd)-TP
  • Tax Payer : Hazira LNG Private Limited
Income tax Appellate Tribunal

ITAT:Remits engineering support services ALP-determination citing TPO’s non-examination of prescribed TP-methods

Mar 14, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-143-ITAT-2019(Mum)-TP
  • Tax Payer : Dow Chemical International Private Limited
Income tax Appellate Tribunal

ITAT: Allows assessee’s appeal withdrawal as entire TP-adjustment deleted in rectification order

Mar 14, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-142-ITAT-2019(PUN)-TP
  • Tax Payer : Ubisoft Entertainment India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment made applying BLT on protective basis absent statutory mandate; Follows precedents

Mar 13, 2019
  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2019(DEL)-TP
  • Tax Payer : Sony Mobile Communication India Private Limited (now merged with Sony India Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on commission payment to AE; Follows earlier-orders

Mar 13, 2019
  • In Favour of Assessee
  • Citation Number : TS-140-ITAT-2019(Mum)-TP
  • Tax Payer : Hinduja Ventures Limited, (Formerly known as Hinduja TMT Limited)
Income tax Appellate Tribunal

ITAT: Prefers functional over product similarity under TNMM; Approves cash PLI for manufacturer

Mar 13, 2019
  • In Favour of Assessee
  • Citation Number : TS-139-ITAT-2019(Kol)-TP
  • Tax Payer : Epcos Ferrites Ltd. (since merged with EpcosIndia Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Upholds consistently followed TNMM for export-transactions; Rejects CUP citing geographical, quantity differences

Mar 13, 2019
  • In Favour of Assessee
  • Citation Number : TS-138-ITAT-2019(Mum)-TP
  • Tax Payer : Glenmark Pharmaceuticals Ltd
Supreme Court

SC: Dismisses Revenue’s SLP; HC had upheld ITAT’s comparables selection following Softbrands ratio

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-137-SC-2019-TP
  • Tax Payer : Citrix R&D India Pvt Ltd
High Court

HC:Admits Goodyear’s appeal; ITAT denied export incentives reduction from cost-base for exports benchmarking

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-136-HC-2019(DEL)-TP
  • Tax Payer : Goodyear India Limited
Income tax Appellate Tribunal

ITAT:Deletes Sec 271(1)(c) penalty considering substantial TP-adjustment reduced in quantum appeal

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-135-ITAT-2019(CHANDI)-TP
  • Tax Payer : Rakhra Technologies P.Ltd
Income tax Appellate Tribunal

ITAT: Excludes Akshay-Software for software developer; Safer to exclude comparable when service nature doubtful

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-134-ITAT-2019(Bang)-TP
  • Tax Payer : MetricStream Infotech (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT:Upholds application of entity level TNMM only to AE-transactions, not entire turnover

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-1449-ITAT-2018(Mum)-TP
  • Tax Payer : Sodexo Food Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables for Microsoft-India, Excludes companies undertaking R&D for software development

Mar 12, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-133-ITAT-2019(DEL)-TP
  • Tax Payer : Microsoft India (R &D) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds internal-CUP for benchmarking SDT of inter-units power transfer; Follows earlier order

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-132-ITAT-2019(Kol)-TP
  • Tax Payer : Electrosteel Castings Ltd
Income tax Appellate Tribunal

ITAT: Fixes guarantee fee ALP at 0.5%, comfort fee ALP at 0.1%; Follows precedents

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-131-ITAT-2019(Mum)-TP
  • Tax Payer : Zee Entertainment Enterprises Limited
High Court

HC: Upholds ITAT-order excluding 3 comparables having different business model/ substantial RPT

Mar 12, 2019
  • In Favour of Assessee
  • Citation Number : TS-130-HC-2019(BOM)-TP
  • Tax Payer : Pfizer Limited
Income tax Appellate Tribunal

ITAT: Rejects TPO’s internal-CUP for benchmarking sale transaction absent accurate comparability; Follows earlier-order

Mar 11, 2019
  • In Favour of Assessee
  • Citation Number : TS-129-ITAT-2019(Ahd)-TP
  • Tax Payer : Gulbrandsen Chemicals Pvt Ltd