Rulings ( 11631 results )

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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
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on cost reimbursements, classifies agreement with AE as ‘retainer'; Follows Merck ruling

Feb 18, 2019
  • In Favour of Assessee
  • Citation Number : TS-78-ITAT-2019(Mum)-TP
  • Tax Payer : UT Worldwide India Private Ltd
Income tax Appellate Tribunal

ITAT: Functionality, key determinative factor for comparables selection, consent on acceptance/rejection by parties irrelevant

Feb 18, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-77-ITAT-2019(DEL)-TP
  • Tax Payer : Nokia Siemens Networks India
High Court

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

Feb 18, 2019
  • In Favour of Assessee
  • Citation Number : TS-75-HC-2019(BOM)-TP
  • Tax Payer : Asian Paints Ltd
Income tax Appellate Tribunal

ITAT: Excludes 5 comparables for courseware content developer; Follows precedents

Feb 18, 2019
  • In Favour of Assessee
  • Citation Number : TS-74-ITAT-2019(DEL)-TP
  • Tax Payer : Element K India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts TNMM over CUP for contract manufacturer’s AE-exports, Follows Amphenol Interconnect ruling

Feb 18, 2019
  • In Favour of Assessee
  • Citation Number : TS-73-ITAT-2019(PUN)-TP
  • Tax Payer : A. Raymond Fasteners Pvt Ltd
High Court

HC:Upholds ITAT-order denying depreciation adjustment on account of capacity underutilization; Follows Softbrands

Feb 18, 2019
  • In Favour of Revenue
  • Citation Number : TS-1438-HC-2018(KAR)-TP
  • Tax Payer : Indigra Exports Pvt Ltd
High Court

HC: Dismisses assessee’s appeal against selection of CPM as MAM for contract-manufacturer; Follows Softbrands

Feb 18, 2019
  • In Favour of Revenue
  • Citation Number : TS-1437-HC-2018(KAR)-TP
  • Tax Payer : Wipro GE Healthcare Private Limited (for the merged entity) GE Medical Systems India Private Limited
High Court

HC: Stays TPO-reference on grounds of CBDT Circular 3/2016 violation, issues notice to Department

Feb 17, 2019
  • In Favour of Assessee
  • Citation Number : TS-72-HC-2019(DEL)-TP
  • Tax Payer : Infonox Software Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s MP against ITAT’s non-adjudication of comparable, CIT(A)’s exclusion stands good

Feb 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-71-ITAT-2019(Bang)-TP
  • Tax Payer : Winphoria Networks India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination of Canon India’s AMP-expenses ; Follows earlier-orders

Feb 15, 2019
  • In Favour of Both, Partially
  • Citation Number : TS-70-ITAT-2019(DEL)-TP
  • Tax Payer : Canon India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s interest-payment to domestic holding company as at ALP; Deletes TP-adjustment

Feb 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-69-ITAT-2019(Mum)-TP
  • Tax Payer : DLF Infopark (Pune) Limited
Income tax Appellate Tribunal

ITAT: Upholds DRP’s exclusion of Acropetal and Jeevan Scientific Technology for ITeS provider

Feb 15, 2019
  • In Favour of Assessee
  • Citation Number : TS-68-ITAT-2019(Bang)-TP
  • Tax Payer : C-Cube Solutions Pvt Ltd