Rulings ( 11322 results )

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High Court

HC: Directs AO to afford assessee an opportunity of being heard

Aug 04, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-484-HC-2023(CAL)-TP
  • Tax Payer : Price Waterhouse & Anr
Income tax Appellate Tribunal

ITAT: Remits benchmarking of purchase transaction, notes that assessee kept changing MAM

Aug 04, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-480-ITAT-2023(Mum)-TP
  • Tax Payer : Franklin Wardcorpp India Private Limited
Income tax Appellate Tribunal

ITAT: Mere pendency of Revenue's appeal against earlier order no ground to invoke Sec.263

Aug 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-482-ITAT-2023(PUN)-TP
  • Tax Payer : Carraro India Private Limited
Income tax Appellate Tribunal

ITAT: Final assessment orders, based on invalid TPO/DRP orders, not valid

Aug 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-483-ITAT-2023(Mum)-TP
  • Tax Payer : Emerson Process Management (India) P. Ltd
Income tax Appellate Tribunal

ITAT: Refuses to exclude functionally similar comparable, remits others to examine financial data

Aug 04, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-481-ITAT-2023(Kol)-TP
  • Tax Payer : Orga Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP adjustment qua SDT; Directs AO to adjudicate afresh

Aug 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-477-ITAT-2023(JODH)-TP
  • Tax Payer : Sunil and Company
Income tax Appellate Tribunal

ITAT: Remits MAM-selection for benchmarking royalty; Follows earlier-order

Aug 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-478-ITAT-2023(Mum)-TP
  • Tax Payer : SAS Institute (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes protective basis AMP-adjustment for Nikon India, follows earlier order

Aug 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-479-ITAT-2023(DEL)-TP
  • Tax Payer : Nikon India (Pvt) Ltd
High Court

HC: Sets aside final assessment order passed pending DRP’s directions

Aug 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-474-HC-2023(KAR)-TP
  • Tax Payer : Zyme Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TNMM as MAM for export citing rule of consistency; Follows precedents

Aug 02, 2023
  • In Favour of Assessee
  • Citation Number : TS-476-ITAT-2023(Mum)-TP
  • Tax Payer : Lubrizol India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua corporate guarantee/SBLC sans international transaction or AE-existence

Aug 02, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-475-ITAT-2023(DEL)-TP
  • Tax Payer : Phoenix Lamps Ltd
Income tax Appellate Tribunal

ITAT: Deferred shares akin to ordinary shares; Confirms TP-adjustment basis valuation of ordinary shares

Aug 01, 2023
  • In Favour of Revenue
  • Citation Number : TS-473-ITAT-2023(DEL)-TP
  • Tax Payer : Fabindia Overseas Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds Revenue’s segregation of distribution segment from trading activity; Grants working-capital adjustment

Aug 01, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-470-ITAT-2023(Bang)-TP
  • Tax Payer : Puma Sports India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Fixes corporate guarantee fee @ 0.5%, remits comparables' selection qua software services

Aug 01, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-471-ITAT-2023(Ahd)-TP
  • Tax Payer : Mastek Ltd
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for benchmarking distribution activity, applies rule of consistency

Aug 01, 2023
  • In Favour of Assessee
  • Citation Number : TS-472-ITAT-2023(HYD)-TP
  • Tax Payer : Commvault Systems (India) Private Limited
Income tax Appellate Tribunal

ITAT: TPO’s order time barred, final assessment non-est in eyes of law; Follows precedent

Jul 31, 2023
  • In Favour of Assessee
  • Citation Number : TS-467-ITAT-2023(Mum)-TP
  • Tax Payer : Tata AIG General Insurance Company Ltd
Income tax Appellate Tribunal

ITAT: Mandates issue of notice u/s. 92C(3) or u/s.92CA(2) before making TP adjustment

Jul 31, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-468-ITAT-2023(HYD)-TP
  • Tax Payer : Quislex Legal Services P Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua IGS, directs assssee to demonstrate benefit, rendition tests

Jul 31, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-469-ITAT-2023(Mum)-TP
  • Tax Payer : EOS Power India Private Limited
High Court

HC: Dismisses Revenue’s appeal on risk adjustment absent substantial question of law; Follows precedents

Jul 31, 2023
  • In Favour of Assessee
  • Citation Number : TS-466-HC-2023(BOM)-TP
  • Tax Payer : Mahle Behr India Limited
High Court

HC: Sec.144C procedure required to be followed post remand even if assessment set aside partially

Jul 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-465-HC-2023(KAR)-TP
  • Tax Payer : Kennametal India Ltd