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Income tax Appellate Tribunal

ITAT: Directs AO/TPO to compute PLI considering bad debt expenses as operating expenditure

Jan 02, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-556-ITAT-2024(Bang)-TP
  • Tax Payer : Hitachi Energy Technology Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects assessee’s plea for treating forex loss as non-operating expense; Follows precedent

Jan 02, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-557-ITAT-2024(CHNY)-TP
  • Tax Payer : Doowon Electronics India Private Limited
Income tax Appellate Tribunal

ITAT: Holds trade receivables from AE as international transaction, to be benchmarked separately

Jan 01, 2025
  • In Favour of Revenue
  • Citation Number : TS-554-ITAT-2024(DEL)-TP
  • Tax Payer : Avaya India Private Limited
High Court

HC: Dismisses appeal challenging final assessment-order as withdrawn in light of Sumitomo Corporation India case

Jan 01, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-555-HC-2024(DEL)-TP
  • Tax Payer : Smart Cube India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rectifies Tribunal-order; Remits addition qua professional fee, directs AO to make TPO-reference

Dec 31, 2024
  • In Favour of Revenue
  • Citation Number : TS-551-ITAT-2024(Mum)-TP
  • Tax Payer : DAM Capital Advisors Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua outstanding AE-receivables; Follows precedent

Dec 31, 2024
  • In Favour of Revenue
  • Citation Number : TS-552-ITAT-2024(Bang)-TP
  • Tax Payer : EIT Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: TPO/DRP fails to explain rejection of TNMM for technical assistance fees; Rejects Nil ALP

Dec 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-553-ITAT-2024(CHNY)-TP
  • Tax Payer : HSI Automotive Private Limited
Income tax Appellate Tribunal

ITAT: No notional cost for calculating Assessee’s PLI; Accepts LIBOR+200 as interest rate

Dec 30, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-546-ITAT-2024(Bang)-TP
  • Tax Payer : IQVIA Analytics Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP adjustment qua notional interest charged on overdue receivables; Follows precedents

Dec 30, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-547-ITAT-2024(Bang)-TP
  • Tax Payer : Softlayer Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds TP adjustment qua outstanding receivables on loans as unsustainable for debt-free assessee

Dec 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-548-ITAT-2024(CHNY)-TP
  • Tax Payer : SAS Hotels & Enterprises Ltd
High Court

HC: Dismisses Revenue’s appeals on AMP adjustment, identical issue covered earlier

Dec 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-549-HC-2024(DEL)-TP
  • Tax Payer : Casio India Company Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua interest on outstanding receivable in case of debt free company-assessee

Dec 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-542-ITAT-2024(DEL)-TP
  • Tax Payer : Ramboll India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Admits assessee’s additional evidence filed for purpose of establishing rendition of IGS; Remits issue

Dec 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-543-ITAT-2024(DEL)-TP
  • Tax Payer : Nefab India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua AMP expenses for HP India Sales; Follows earlier order

Dec 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-544-ITAT-2024(Bang)-TP
  • Tax Payer : HP India Sales Private Ltd
Income tax Appellate Tribunal

ITAT: Considers Assessee eligible for Sec. 10AA deduction; Follows earlier order

Dec 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-545-ITAT-2024(Bang)-TP
  • Tax Payer : EYGBS India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs TPO to prepare fresh TP study in light of adjustment accepted under MAP resolution with US based AEs

Dec 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-538-ITAT-2024(Bang)-TP
  • Tax Payer : NI Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets-aside AO’s order holding Indian subsidiary as dependent agent PE; Remits matter, TPO to consider additional evidence

Dec 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-539-ITAT-2024(Bang)-TP
  • Tax Payer : QlikTech International AB C/o QlikTech India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits downward adjustment made in respect of SDT of transfer of power; Follows precedent

Dec 26, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-540-ITAT-2024(Kol)-TP
  • Tax Payer : Orient Paper & Industries Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua administrative support services; Includes/Excludes comparables for research, engineering support services

Dec 26, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-541-ITAT-2024(DEL)-TP
  • Tax Payer : Corteva Agriscience India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables for ITeS-provider citing functional dissimilarity, etc; Adopts interest on receivables @LIBOR+200

Dec 24, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-535-ITAT-2024(HYD)-TP
  • Tax Payer : Macromill Research India LLP