Rulings ( 11314 results )

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Income tax Appellate Tribunal

ITAT: Directs TPO to apply LIBOR for benchmarking outstanding receivables after verifying invoices, risks

Dec 18, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-525-ITAT-2024(Bang)-TP
  • Tax Payer : Concur Technologies India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua sale of goods through AE, assessee demonstrated interest-saving benefit

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-523-ITAT-2024(Mum)-TP
  • Tax Payer : Rallis India Limited
Income tax Appellate Tribunal

ITAT: Rejects Revenue's treatment of corporate-guarantee invoked by third-party bank as loan

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-522-ITAT-2024(DEL)-TP
  • Tax Payer : JE Energy Ventures Private Limited
Income tax Appellate Tribunal

ITAT: Directs exclusion of Infosys BPO, TCS if turnover exceeds Rs.200 crores

Dec 17, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-520-ITAT-2024(Bang)-TP
  • Tax Payer : Robert Bosch Engineering and Business Solutions Ltd
Income tax Appellate Tribunal

ITAT: Includes comparables which incurred loss for a year; Considers forex loss/gain as operating

Dec 17, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-521-ITAT-2024(CHNY)-TP
  • Tax Payer : Iljin Automotive P. Ltd
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)’s deletion of Sec.271G-penalty on diamond merchant, follows earlier decision

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-518-ITAT-2024(Mum)-TP
  • Tax Payer : Ankit Gems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Emphasises on principle of consistency, holds AO erred in not following DRP-directions

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2024(DEL)-TP
  • Tax Payer : Humboldt Wedag India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Failure to pass draft order offends Article 14 of Constitution, infringes 'rule of law'

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-517-ITAT-2024(CHNY)-TP
  • Tax Payer : Armstrong International Private Limited
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustments w.r.t loan-interest & guarantee fee, follows earlier order

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-515-ITAT-2024(Mum)-TP
  • Tax Payer : Rosy Blue (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Adopts interest @LIBOR+200 points on trade receivables, allows credit period; Follows precedent

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-516-ITAT-2024(HYD)-TP
  • Tax Payer : Erstwhile Amalgamating Company Sitapuram Power Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua interest on outstanding receivables, considers assessee's debt-free status

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-513-ITAT-2024(CHNY)-TP
  • Tax Payer : Temenos India Pvt Ltd
High Court

HC: Directs ITAT to consider grounds pertaining to TP-adjustment qua purchase of finished goods

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-514-HC-2024(DEL)-TP
  • Tax Payer : Luxottica India Eyewear Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes assessment order u/s 147 r.w.s. 144C(13) as time-barred absent TPO-reference

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-511-ITAT-2024(HYD)-TP
  • Tax Payer : Mir Ibrahim Ali
Income tax Appellate Tribunal

ITAT: Imputes ALP-commission on SBLC @ 1% over TPO's 4.01%, considers Everest Kento ruling

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2024(DEL)-TP
  • Tax Payer : ANAND NVH PRODUCTS PRIVATE LIMITED
Income tax Appellate Tribunal

ITAT: Quashes assessment order passed in non-compliance of Sec.144C, NRI-assessee's attitude immaterial

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-510-ITAT-2024(Mum)-TP
  • Tax Payer : Hasmukh Dipchand Gardi
High Court

HC: Dismisses Revenue’s appeal against ITAT-order invalidating TPO-reference qua SDT u/s.92BA(i)

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-509-HC-2024(KAR)-TP
  • Tax Payer : TT Steel Service India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits adjustment qua marketing & distribution expenses, deletes club-service expenditure adjustment

Dec 05, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-506-ITAT-2024(Bang)-TP
  • Tax Payer : AstraZeneca Pharma India Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua management fee payment; Follows precedents

Dec 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-507-ITAT-2024(Mum)-TP
  • Tax Payer : Otis Elevator Company (India) Limited
Income tax Appellate Tribunal

ITAT: Special Bench holds transaction between foreign enterprise and Indian PE as international transaction

Dec 05, 2024
  • In Favour of Revenue
  • Citation Number : TS-508-ITAT-2024(Ahd)-TP
  • Tax Payer : TBEA Shenyang Transformer Group Company Limited
High Court

HC: Upholds RPM as MAM for import of finished goods for Burberry India

Dec 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-505-HC-2024(DEL)-TP
  • Tax Payer : Burberry India Pvt Ltd