Rulings ( 11511 results )

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Income tax Appellate Tribunal

ITAT: Rejects TPO's artificial bifurcation into saleable/non-saleable units, allows Sec.80IA relief

Jul 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-277-ITAT-2024(CHNY)-TP
  • Tax Payer : The Ramco Cements Limited
Supreme Court

SC: Dismisses Revenue’s SLP citing inordinate delay; Expresses no opinion on AMP issue

Jul 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-276-SC-2024-TP
  • Tax Payer : Xerox India Ltd
Income tax Appellate Tribunal

ITAT: Remits benchmarking AE-interest to determine appropriate rate based on LIBOR/SBI PLR

Jul 10, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-273-ITAT-2024(HYD)-TP
  • Tax Payer : TEK Systems Global Services (P) Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for investment advisory service provider basis functional similarity

Jul 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-274-ITAT-2024(Mum)-TP
  • Tax Payer : TPG Capital India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Guarantee ceases on classification of loan as NPA; Deletes TP-adjustment qua guarantee

Jul 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-272-ITAT-2024(DEL)-TP
  • Tax Payer : JE Energy Ventures Private Limited
Foreign Court

FC: Mauritian ARC sees through Taxpayer's "smoke screen", holds royalty purposely inflated for tax avoidance

Jul 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-271-FC-2024(MAU)-TP
  • Tax Payer : Avago Technologies Trading Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal challenging limitation period of TPO-order; Refers to Pfizer Healthcare ruling

Jul 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-269-ITAT-2024(Mum)-TP
  • Tax Payer : Huhtamaki India Limited (earlier known as to Huhtamaki PPL Limited)
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustment qua provision of services, restricts guarantee commission to 0.5%

Jul 05, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-270-ITAT-2024(Ahd)-TP
  • Tax Payer : Priya Blue Industries Pvt Ltd
Foreign Court

FC: Canadian SC holds Tax Court cannot review Minister's discretionary denial of Dow-Chemical's request for downward TP-adjustment

Jul 04, 2024
  • In Favour of Revenue
  • Citation Number : TS-268-FC-2024(CAN)-TP
  • Tax Payer : Dow Chemical Canada ULC
Income tax Appellate Tribunal

ITAT: Benefit of latest Nissan-Motor ruling not available to AO/TPO, remits AMP-adjustment

Jul 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-266-ITAT-2024(Bang)-TP
  • Tax Payer : AstraZeneca Pharma India Ltd
Income tax Appellate Tribunal

ITAT: Directs AO to reduce 50% of benefit from corporate service fee; Applies rule of consistency

Jul 03, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-267-ITAT-2024(CHANDI)-TP
  • Tax Payer : Centrient Pharmaceuticals India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustments w.r.t interest on loan, corporate guarantee fee for Cadila Pharma

Jul 03, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-265-ITAT-2024(Ahd)-TP
  • Tax Payer : Cadila Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT: Upholds single year data for transition support services; Deletes correspondent banking, MSS adjustments

Jul 02, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-263-ITAT-2024(Mum)-TP
  • Tax Payer : The Hongkong & Shanghai Banking Corporation Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables selection for ITeS provider; Holds turnover filter as relevant criteria

Jul 02, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-264-ITAT-2024(HYD)-TP
  • Tax Payer : Primera Medical Technologies Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua Letter of Comfort for Tata International; Follows earlier order

Jul 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-261-ITAT-2024(Mum)-TP
  • Tax Payer : Tata International Limited
Income tax Appellate Tribunal

ITAT: Comparables cannot be excluded merely citing different accounting-year; Rejects negative working-capital adjustment

Jul 01, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-262-ITAT-2024(HYD)-TP
  • Tax Payer : Macromill Research India LLP
Income tax Appellate Tribunal

ITAT: Deletes royalty adjustment made solely on basis of differences in global accounting policies

Jun 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-260-ITAT-2024(Mum)-TP
  • Tax Payer : GE Subsidiary Inc, 63
Income tax Appellate Tribunal

ITAT: Holds turnover as relevant criteria for selecting comparables; Applies range at 10 times

Jun 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-259-ITAT-2024(HYD)-TP
  • Tax Payer : Triniti Advanced Software Labs Private Limited
High Court

HC: Remands matter, notes Tribunal's non-consideration of Revenue's issues qua risk adjustment, guarantee commission

Jun 27, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-258-HC-2024(KER)-TP
  • Tax Payer : Olam Agro India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s restriction of corporate guarantee adjustment @ 1% instead of TPO's 2%

Jun 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-943-ITAT-2022(COCH)-TP
  • Tax Payer : Olam Agro India Pvt Ltd