Rulings ( 11516 results )

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High Court

HC: Upholds ITAT order quashing draft order passed with demand & penalty notices

Oct 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-577-HC-2023(TEL)-TP
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Upholds parties as AE, deemed AE; Determines ALP of NCD interest, issue expenses

Oct 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-576-ITAT-2023(HYD)-TP
  • Tax Payer : Neovantage Innovation Park Private Limited
Income tax Appellate Tribunal

ITAT: Sets aside NIL ALP for ESOP expenses on vested options; Remits ALP determination

Oct 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-574-ITAT-2023(Mum)-TP
  • Tax Payer : Booking.Com India Support & Marketing Services Private Limited
Income tax Appellate Tribunal

ITAT: Directs ALP computation as per Rule 10CA, not 10B, given 4 surviving comparables

Oct 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-575-ITAT-2023(PUN)-TP
  • Tax Payer : Rafiq Naik Exports Private Limited
High Court

HC: Liability, doubtful debt (linked to business) written back are operating income

Oct 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-573-HC-2023(BOM)-TP
  • Tax Payer : Tetra Pak India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 271(1)(c) on TP adjustment absent evidence of concealment of income

Sep 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-571-ITAT-2023(Mum)-TP
  • Tax Payer : Schindler India Private Limtied
Income tax Appellate Tribunal

ITAT: Quashes TPO’s order, final assessment-order as barred by limitation; Follows precedents

Sep 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-572-ITAT-2023(Mum)-TP
  • Tax Payer : Gammon India Ltd
Income tax Appellate Tribunal

ITAT: Accepts internal TNMM for benchmarking ITeS transaction; Directs 6% interest on receivables

Sep 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-569-ITAT-2023(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Private Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables citing functional dissimilarity, lack of data; Remits working capital adjustment

Sep 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-570-ITAT-2023(Mum)-TP
  • Tax Payer : QAD India Private Limited
High Court

HC: Upholds ITAT order excluding Infosys & Wipro for SWD service-provider assessee

Sep 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-568-HC-2023(DEL)-TP
  • Tax Payer : Global Logic India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Deletes IGS adjustment, assessee availed few services under composite agreement

Sep 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-567-ITAT-2023(Mum)-TP
  • Tax Payer : NTT India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds payment of interest on CCDs @ 9% not excessive, follows precedents

Sep 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-566-ITAT-2023(NAG)-TP
  • Tax Payer : Bilt Graphic Paper Product Ltd
Income tax Appellate Tribunal

ITAT: Holds assessment-order passed without draft-order in remand proceedings as void

Sep 26, 2023
  • In Favour of Assessee
  • Citation Number : TS-565-ITAT-2023(Mum)-TP
  • Tax Payer : Tata Communications Transformation Services Limited
High Court

HC: Dismisses Revenue’s appeal citing Tribunal rightly excluded comparables based on merits

Sep 26, 2023
  • In Favour of Assessee
  • Citation Number : TS-564-HC-2023(DEL)-TP
  • Tax Payer : Mentor Graphics (India) Pvt Ltd
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