Rulings ( 11623 results )

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Income tax Appellate Tribunal

ITAT: Directs application of margin agreed under MAP with UK/US to non-UK/US transactions

Feb 26, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-97-ITAT-2019(DEL)-TP
  • Tax Payer : Concentrix Daksh Services India Pvt Ltd (Erstwhile known as IBM Daksh Business Process Services Pvt. Ltd.)
Supreme Court

SC: Dismisses Revenue’s SLP; HC upheld TP-adjustment deletion on commission payment to AE

Feb 25, 2019
  • In Favour of Revenue
  • Citation Number : TS-96-SC-2019-TP
  • Tax Payer : Sun Pharmaceutical Industries Ltd
High Court

HC:Allows Revenue's rectification application; No functional similarity between GAP & Li & Fung India

Feb 25, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-1439-HC-2018(DEL)-TP
  • Tax Payer : Gap International Sourcing India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Territorial nexus must for Sec 9 taxability; Restores profit attribution of agency-commission

Feb 25, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-95-ITAT-2019(Mum)-TP
  • Tax Payer : Fox International Channel Asia Pacific Ltd (Formerly known as Satellite Television Asia Region Ltd.)
Income tax Appellate Tribunal

ITAT: Remits 5 comparables for ITeS-provider for consideration of assessee’s submissions

Feb 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-94-ITAT-2019(Bang)-TP
  • Tax Payer : IHS Global Private Limited (formerly known as IHS Parts Managements Private Limited)
Income tax Appellate Tribunal

ITAT: Upholds TNMM for benchmarking exports; Sale to non-AEs not suitable internal-CUP

Feb 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-93-ITAT-2019(Mum)-TP
  • Tax Payer : Firmenich Aromatics Production (India) Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on preference shares redemption; Accepts corporate guarantee ALP at 1%

Feb 25, 2019
  • In Favour of Assessee
  • Citation Number : TS-92-ITAT-2019(Mum)-TP
  • Tax Payer : Aegis Limited
Income tax Appellate Tribunal

ITAT: Deletes adjustment on loan, accepts assessee’s LIBOR+ 400 bps interest rate; Follows Precedents

Feb 22, 2019
  • In Favour of Assessee
  • Citation Number : TS-91-ITAT-2019(Mum)-TP
  • Tax Payer : Manugraph India Limited
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment on protective basis, BLT unsustainable; Follows earlier year orders

Feb 22, 2019
  • In Favour of Assessee
  • Citation Number : TS-90-ITAT-2019(DEL)-TP
  • Tax Payer : Nikon India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects aggregation of international & domestic segments for benchmarking IT-services; Remits issue

Feb 21, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-89-ITAT-2019(DEL)-TP
  • Tax Payer : Fujitsu India Pvt Ltd
High Court

HC:Dismisses Revenue’s appeal against ITAT-order on comparables, AE-receivables absent question of law

Feb 21, 2019
  • In Favour of Assessee
  • Citation Number : TS-88-HC-2019(DEL)-TP
  • Tax Payer : INDUCTIS (INDIA) PVT LTD
Income tax Appellate Tribunal

ITAT: Rules on comparables for ITeS and software segments; Follows precedents

Feb 21, 2019
  • In Favour of Assessee
  • Citation Number : TS-87-ITAT-2019(Bang)-TP
  • Tax Payer : Software Paradigms Infotech Pvt Ltd
Income tax Appellate Tribunal

ITAT:Corporate guarantee, ‘international transaction’, but bank-quotes not suitable benchmark; Remits TP-adjustment on SDT

Feb 21, 2019
  • In Favour of Assessee
  • Citation Number : TS-86-ITAT-2019(DEL)-TP
  • Tax Payer : JE Energy Venture Private Ltd (formerly known as Jubilant Energy Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT:Rejects additional-evidence admission to decide TP-adjustment on reimbursements citing doubts on genuineness/ relevance

Feb 21, 2019
  • In Favour of Revenue
  • Citation Number : TS-85-ITAT-2019(DEL)-TP
  • Tax Payer : CEC International Corporation (India) Private Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment of mark-up on cost-to-cost reimbursements by AE; Upholds CUP-method

Feb 20, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-84-ITAT-2019(DEL)-TP
  • Tax Payer : Vedanta Limited (successor to Cairn India Ltd)
Supreme Court

SC: Dismisses Revenue's SLP on HC-order confirming stay extension, considers main-appeal decided by Tribunal

Feb 20, 2019
  • In Favour of Assessee
  • Citation Number : TS-83-SC-2019-TP
  • Tax Payer : Comverse Network Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits capacity adjustment while benchmarking export transaction; Follows Petro Araldite, Claas India rulings

Feb 20, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-82-ITAT-2019(Bang)-TP
  • Tax Payer : SKF Technologies India Private Limited (Formerly known as SKF Sealing Solutions Private Limited
Income tax Appellate Tribunal

ITAT:Rules on comparables for business-support services; Accepts assessee's < 50 manufacturing/trading income filter

Feb 19, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-81-ITAT-2019(DEL)-TP
  • Tax Payer : Wolters Kluwer (India) Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal; Refuses to interfere with ITAT’s fact finding on comparables

Feb 19, 2019
  • In Favour of Assessee
  • Citation Number : TS-80-HC-2019(BOM)-TP
  • Tax Payer : Honeywell Turbo (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TNMM over CPM for benchmarking transactions in equipment division; Follows earlier-order

Feb 19, 2019
  • In Favour of Assessee
  • Citation Number : TS-79-ITAT-2019(PUN)-TP
  • Tax Payer : Alfa Laval India Ltd