Rulings ( 11322 results )

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High Court

HC: Holds assessment on Himalaya Drug invalid as notice u/s 153C issued by AO before conferment of jurisdiction u/s 127

Sep 26, 2023
  • In Favour of Assessee
  • Citation Number : TS-723-HC-2021(KAR)-TP
  • Tax Payer : Himalaya Drug Company
Income tax Appellate Tribunal

ITAT: Upholds Infosys' exclusion as comparable under SWD services segment, dismisses Revenue’s appeal

Sep 25, 2023
  • In Favour of Assessee
  • Citation Number : TS-563-ITAT-2023(DEL)-TP
  • Tax Payer : Avaya India Private Limited
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP qua R&D expenses, management fees; AO to apply prescribed method

Sep 25, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-562-ITAT-2023(Mum)-TP
  • Tax Payer : Hamon Cooling Systems Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment citing +/- 5% tolerance band benefit u/s 92C(2) proviso

Sep 22, 2023
  • In Favour of Assessee
  • Citation Number : TS-560-ITAT-2023(DEL)-TP
  • Tax Payer : STEAG Energy Services (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Confirms SDT-adjustment using CUP over other method for benchmarking fuel stock trade

Sep 22, 2023
  • In Favour of Revenue
  • Citation Number : TS-561-ITAT-2023(Mum)-TP
  • Tax Payer : Malco Energy Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of royalty adjustment in TCS' case not being brand owner

Sep 22, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-559-ITAT-2023(Mum)-TP
  • Tax Payer : Tata Consultancy Services Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables failing upper turnover filter and functionally dissimilar; Allows working capital adjustment

Sep 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-558-ITAT-2023(Bang)-TP
  • Tax Payer : Euronet Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes functionally dissimilar comparables in SWD / MSS segments, remits interest on receivables

Sep 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-557-ITAT-2023(Bang)-TP
  • Tax Payer : AMD India Private Ltd
Income tax Appellate Tribunal

ITAT: Excise-duty non-deductible from export turnover, Deletes royalty adjustment following earlier orders

Sep 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-556-ITAT-2023(Kol)-TP
  • Tax Payer : Indian Explosives Private Ltd
Income tax Appellate Tribunal

ITAT: Restricts corporate guarantee fees for all AEs to 0.60%; Follows earlier order

Sep 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-555-ITAT-2023(Mum)-TP
  • Tax Payer : KEC International Ltd
High Court

HC: DRP cannot issue directions once appeal preferred before CIT(A); Quashes consequential assessment

Sep 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-554-HC-2023(BOM)-TP
  • Tax Payer : Undercarriage and Tractor Parts Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TP adjustment for improper allocation of expenses under trading and manufacturing segments

Sep 18, 2023
  • In Favour of Revenue
  • Citation Number : TS-552-ITAT-2023(PUN)-TP
  • Tax Payer : Ampacet Speciality Products Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s plea, includes comparables primarily involved in SWD services

Sep 18, 2023
  • In Favour of Revenue
  • Citation Number : TS-551-ITAT-2023(DEL)-TP
  • Tax Payer : TPG Software Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP of technical know-how fee qua critical-boiler manufacturing JV

Sep 18, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-553-ITAT-2023(Mum)-TP
  • Tax Payer : Thermax Babcock & Wilcox Energy Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Invalidates assessment order as draft order passed with demand & penalty notices

Sep 15, 2023
  • In Favour of Assessee
  • Citation Number : TS-550-ITAT-2023(Mum)-TP
  • Tax Payer : Integreon Managed Solutions (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Assessee demonstrated need/benefit test, no infirmity in cost-allocation; Deletes IGS-adjustment

Sep 15, 2023
  • In Favour of Assessee
  • Citation Number : TS-549-ITAT-2023(Mum)-TP
  • Tax Payer : Emerson Network (Power (India) Private Limited
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP of royalty payment, remits management fee adjustment; Follows earlier order

Sep 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-547-ITAT-2023(CHNY)-TP
  • Tax Payer : Siemens Gamesa Renewable Power Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts CUP for benchmarking consultancy services; Dismisses stay-application being infructuous

Sep 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-548-ITAT-2023(DEL)-TP
  • Tax Payer : Willis Towers Watson India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP adjustment for Kellogg India; Follows earlier ruling

Sep 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-546-ITAT-2023(Mum)-TP
  • Tax Payer : Kellogg India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment disallowing interest paid to AE, observes Bank's PLR not comparable

Sep 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-544-ITAT-2023(Mum)-TP
  • Tax Payer : AAA Corp Exim India Pvt Ltd