Rulings ( 11633 results )

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Income tax Appellate Tribunal

ITAT: Quashes AO’s final-order passed without incorporating DRP’s mandatory directions; Distinguishes Hennes & Mauritz ruling

Nov 15, 2018
  • In Favour of Both, Partially
  • Citation Number : TS-1189-ITAT-2018(Bang)-TP
  • Tax Payer : July Systems & Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT:Excludes 4 companies as comparable for marketing/administrative sevices, Follows Philip Morris ruling

Nov 15, 2018
  • In Favour of Assessee
  • Citation Number : TS-1187-ITAT-2018(DEL)-TP
  • Tax Payer : GECAS Services India Pvt.Ltd
Income tax Appellate Tribunal

ITAT:Quashes assessment order passed on non-existent amalgamating company as invalid; Follows precedents

Nov 15, 2018
  • In Favour of Assessee
  • Citation Number : TS-1185-ITAT-2018(DEL)-TP
  • Tax Payer : Genpact Infrastructure (Bhopal) (P.) Ltd
Income tax Appellate Tribunal

ITAT: Deletes Rs.300 crores TP-adjustment on intra-group services; Rejects TPO’s Nil ALP-determination

Nov 15, 2018
  • In Favour of Assessee
  • Citation Number : TS-1183-ITAT-2018(Kol)-TP
  • Tax Payer : Philips India Ltd
Income tax Appellate Tribunal

ITAT:Deletes royalty adjustment, direct nexus between assessee's revenue & payment established; Follows precedents

Nov 15, 2018
  • In Favour of Assessee
  • Citation Number : TS-1180-ITAT-2018(DEL)-TP
  • Tax Payer : Maruti Suzuki India Ltd
Income tax Appellate Tribunal

ITAT: Upholds CUP-method for exports as AE-customer transaction at same price; Follows earlier-order

Nov 15, 2018
  • In Favour of Assessee
  • Citation Number : TS-1179-ITAT-2018(Kol)-TP
  • Tax Payer : AT&S India Private Limited
Income tax Appellate Tribunal

ITAT: Intra-group services not stewardship services, rejects Nil ALP-determination; Directs fresh exercise

Nov 15, 2018
  • In Favour of Assessee
  • Citation Number : TS-1178-ITAT-2018(Kol)-TP
  • Tax Payer : Sika India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for ITES provider; Remits working capital and risk adjustment plea

Nov 15, 2018
  • In Favour of Both, Partially
  • Citation Number : TS-1177-ITAT-2018(Mum)-TP
  • Tax Payer : Deutsche Networking Services Private Limited (Through their successor: DBOI Global Services Private Limited)
Income tax Appellate Tribunal

ITAT: Upholds royalty adjustment deletion for assessee manufacturer; Follows earlier-order

Nov 14, 2018
  • In Favour of Assessee
  • Citation Number : TS-1176-ITAT-2018(Ahd)-TP
  • Tax Payer : Hitachi Home & Life Solutions (India) Ltd
Income tax Appellate Tribunal

ITAT: ALP determination mandatory u/s. 92, abnormal profits not reason to accept assessee's price

Nov 14, 2018
  • In Favour of Revenue
  • Citation Number : TS-1175-ITAT-2018(Bang)-TP
  • Tax Payer : AO Smith India Water Products Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee’s appeal, quashes TPO-reference contradictory to CBDT Instruction No.3/2003

Nov 14, 2018
  • In Favour of Assessee
  • Citation Number : TS-1173-ITAT-2018(DEL)-TP
  • Tax Payer : Bucher Hydraulics Private Limited
Income tax Appellate Tribunal

ITAT: Corporate guarantee, not ‘international transaction’, absent expenditure for extending the guarantee; Follows precedents

Nov 14, 2018
  • In Favour of Assessee
  • Citation Number : TS-1171-ITAT-2018(VIZ)-TP
  • Tax Payer : CCL Products (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT:Grants partial stay of demand arising on AMP and royalty issue

Nov 14, 2018
  • In Favour of Assessee
  • Citation Number : TS-1170-ITAT-2018(Mum)-TP
  • Tax Payer : Diageo India Private Ltd
Income tax Appellate Tribunal

ITAT: Allows Sec 10A benefit on voluntary TP-adjustment; Follows earlier year ruling

Nov 14, 2018
  • In Favour of Assessee
  • Citation Number : TS-1169-ITAT-2018(DEL)-TP
  • Tax Payer : G S Engineering & Constructions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Assets under-utilization an internal inefficiency, not basis to exclude functionally similar comparable

Nov 13, 2018
  • In Favour of Assessee
  • Citation Number : TS-1168-ITAT-2018(DEL)-TP
  • Tax Payer : Transcend M T Services Pvt Ltd (Formerly Heartland Bangalore Transcription and Services Pvt. Ltd merged with Heartland Informati
Income tax Appellate Tribunal

ITAT: Deletes Sec 40A(2)-disallowance as domestic-AE payment found at ALP in TP-study; Follows earlier-order

Nov 13, 2018
  • In Favour of Assessee
  • Citation Number : TS-1167-ITAT-2018(DEL)-TP
  • Tax Payer : Amserve Consultants Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on expense reimbursement sans application of prescribed TP-method u/s 92C

Nov 13, 2018
  • In Favour of Assessee
  • Citation Number : TS-1166-ITAT-2018(Mum)-TP
  • Tax Payer : Wartsila India Limited
Income tax Appellate Tribunal

ITAT:Excludes SISCO as comparable to pure-trader; TPO can consider comparables in public domain

Nov 13, 2018
  • In Favour of Both, Partially
  • Citation Number : TS-1165-ITAT-2018(Kol)-TP
  • Tax Payer : Philips Medical Systems Private Limited (now merged with Philips Electronics India Limited
Income tax Appellate Tribunal

ITAT: Upholds aggregated benchmarking of import of spares/ completely built cars with manufacturing

Nov 12, 2018
  • In Favour of Both, Partially
  • Citation Number : TS-1164-ITAT-2018(PUN)-TP
  • Tax Payer : Mercedes-Benz India Pvt Ltd (formerly known as Daimler Chrysler India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal challenging rejection of FOB-based ALP-computation; Follows HC-order

Nov 12, 2018
  • In Favour of Assessee
  • Citation Number : TS-1163-ITAT-2018(DEL)-TP
  • Tax Payer : Li & Fung India Pvt Ltd