Rulings ( 11516 results )

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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
Income tax Appellate Tribunal

ITAT: Holds TP-adjustment qua SDT not sustainable; Remits Sec.40A(2)(b)-applicability issue

Oct 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-584-ITAT-2023(Mum)-TP
  • Tax Payer : Imperial Mark Trade (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustments for import of raw material, data management fees; Follows earlier order

Oct 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-581-ITAT-2023(Ahd)-TP
  • Tax Payer : Schneider Electric Infrastructure Limited
Income tax Appellate Tribunal

ITAT: Accepts assessee’s suo-moto benchmarking of guarantee commission @ 1.15%; Follows earlier order

Oct 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-582-ITAT-2023(Mum)-TP
  • Tax Payer : The Great Eastern Shipping Co Ltd
Income tax Appellate Tribunal

ITAT: Remits benchmarking of performance guarantee akin to financial guarantee with risk mitigation

Oct 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-580-ITAT-2023(Mum)-TP
  • Tax Payer : The Great Eastern Shipping Co Ltd
High Court

HC: Appellate authorities can adopt different method from assessee’s; Upholds internal TNMM

Oct 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-579-HC-2023(DEL)-TP
  • Tax Payer : Hellmann Worldwide Logistics India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Affirms CIT(A)'s restriction of TP-adjustment in Adani Power's case, follows earlier order

Oct 04, 2023
  • In Favour of None/NA
  • Citation Number : TS-578-ITAT-2023(Ahd)-TP
  • Tax Payer : Adani Power Ltd