Rulings ( 11322 results )

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Income tax Appellate Tribunal

ITAT: Accepts TPO’s TNMM for import transactions; Grants benefit of +/-5% tolerance range

Oct 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-601-ITAT-2023(Mum)-TP
  • Tax Payer : Bunge India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Reject’s TPO/DRP’s benchmarking of franchise fees /royalty on adhoc basis; Follows precedent

Oct 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-602-ITAT-2023(DEL)-TP
  • Tax Payer : Jubilant Foodworks Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua sale of barite lumps considering benefit of +/-5% variation

Oct 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-603-ITAT-2023(CHNY)-TP
  • Tax Payer : Trimex Industries (P) Ltd
Income tax Appellate Tribunal

ITAT: Upholds notional interest on AE advances; Rejects TP adjustment on liaison services

Oct 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-598-ITAT-2023(Ahd)-TP
  • Tax Payer : Kalpataru Power Transmission Ltd
Income tax Appellate Tribunal

ITAT: Characterizes assessee as limited-risk distributor, remits benchmarking of import of defence equipment

Oct 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-600-ITAT-2023(Mum)-TP
  • Tax Payer : Rosoboronservice India Limited
Income tax Appellate Tribunal

ITAT: Transaction with Irish assessee at ALP, no further profit attributable to Adobe India

Oct 16, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-599-ITAT-2023(DEL)-TP
  • Tax Payer : Adobe Systems Software Ireland Limited
Income tax Appellate Tribunal

ITAT: No justification to explain variance between AE & non-AE prices, remits ALP-determination

Oct 13, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-597-ITAT-2023(Ahd)-TP
  • Tax Payer : Shell Global Solutions International BV
Income tax Appellate Tribunal

ITAT: Deletes brand adjustment, remits adjustment qua domestic car sale segment; Follows earlier order

Oct 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-596-ITAT-2023(CHNY)-TP
  • Tax Payer : Hyundai Motor India Ltd
High Court

HC: Interprets Sec.153; Quashes assessment-order passed beyond limitation prescribed u/s.153(2A)

Oct 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-595-HC-2023(TEL)-TP
  • Tax Payer : TNS India Private Limited
Income tax Appellate Tribunal

ITAT: Confirms deletion of Sec.271(1)(c) penalty qua cost-sharing arrangement etc., follows precedents

Oct 12, 2023
  • In Favour of Assessee
  • Citation Number : TS-590-ITAT-2023(DEL)-TP
  • Tax Payer : Johnson Matthey India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds final assessment-order as barred by limitation; Follows precedent

Oct 12, 2023
  • In Favour of Assessee
  • Citation Number : TS-594-ITAT-2023(DEL)-TP
  • Tax Payer : Little Fairy Limited
Income tax Appellate Tribunal

ITAT: Interprets "or", holds 'market value' u/s.80IA(8) not compulsorily governed by ALP principle in case of Tata Chemicals

Oct 12, 2023
  • In Favour of Assessee
  • Citation Number : TS-593-ITAT-2023(Mum)-TP
  • Tax Payer : Tata Chemicals Limited
Income tax Appellate Tribunal

ITAT: Accepts TNMM at entity-level, basis entity-level agreement; Follows precedents

Oct 12, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-592-ITAT-2023(Ind)-TP
  • Tax Payer : Computer Sciences Corporation India Private Limited
Income tax Appellate Tribunal

ITAT: 144(2)(b) mandates filing objections before both (DRP, AO) within 30 days

Oct 11, 2023
  • In Favour of Revenue
  • Citation Number : TS-589-ITAT-2023(Rjt)-TP
  • Tax Payer : Kandla Energy and Chemicals Ltd
Income tax Appellate Tribunal

ITAT: Remits issue of economic adjustment qua deduction u/s 80IC, follows earlier-order

Oct 11, 2023
  • In Favour of Assessee
  • Citation Number : TS-591-ITAT-2023(CHNY)-TP
  • Tax Payer : L G Balakrishnan & Bros Limited
Income tax Appellate Tribunal

ITAT: Opines simultaneous issue of DIN insignificant; Sets aside lower authorities’ orders

Oct 11, 2023
  • In Favour of Assessee
  • Citation Number : TS-588-ITAT-2023(DEL)-TP
  • Tax Payer : Toyoda Micromatic Machinery India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes interest on share-application money, considers LIBOR+300 bps on receivables; Follows precedent

Oct 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-585-ITAT-2023(Mum)-TP
  • Tax Payer : Strides Pharma Science Ltd
Income tax Appellate Tribunal

ITAT: Laments AO's failure to give timely effect to revisionary orders, allows assessee's appeal

Oct 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-586-ITAT-2023(Mum)-TP
  • Tax Payer : KKR India Advisors Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s appeal as infructuous, TP-adjustment already deleted by this bench

Oct 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-587-ITAT-2023(DEL)-TP
  • Tax Payer : Amadeus India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Imputes corporate guarantee commission @ 0.5%, rejects NIL ALP of royalty payment

Oct 09, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-583-ITAT-2023(CHNY)-TP
  • Tax Payer : VA Tech Wabag Ltd