Rulings ( 11964 results )

Filters
Income tax Appellate Tribunal

ITAT: Upholds TPO/CIT(A)'s determination of notional interest @LIBOR+500 bps on AE-loans

  • In Favour of Both, Partially
  • Citation Number : TS-275-ITAT-2023(Mum)-TP
  • Tax Payer : M Pallonji Shipping Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside orders passed in the name of non-existent company post conversion into LLP; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-276-ITAT-2023(Ahd)-TP
  • Tax Payer : Allscripts (India) LLP (As a successor in interest of Allscripts India Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Upholds RPM as MAM for pure distributor citing AMP expenditure not a determinant; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-270-ITAT-2023(Mum)-TP
  • Tax Payer : Bristol Myers Squibb India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables applying upper turnover filter; Remits adjustment qua interest on outstanding receivables

  • In Favour of Both, Partially
  • Citation Number : TS-271-ITAT-2023(Bang)-TP
  • Tax Payer : TEKTRONIX INDIA PVT LTD
Income tax Appellate Tribunal

ITAT: Upholds rejection of functionally dissimilar comparables qua correspondent banking services

  • In Favour of Both, Partially
  • Citation Number : TS-272-ITAT-2023(Mum)-TP
  • Tax Payer : The Bank of Nova Scotia
Income tax Appellate Tribunal

ITAT: Considers gross profit/sales as PLI for auto components segment; Follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-273-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Industries Engine India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua notional interest on delayed AE receivables; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-267-ITAT-2023(DEL)-TP
  • Tax Payer : Daawat Foods Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua reimbursement of relocation/travel costs of seconded employees

  • In Favour of Both, Partially
  • Citation Number : TS-268-ITAT-2023(Mum)-TP
  • Tax Payer : Vodafone India Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua guarantee fee for examining assessee's 'interest saved approach' under 'other method'

  • In Favour of Both, Partially
  • Citation Number : TS-269-ITAT-2023(Mum)-TP
  • Tax Payer : JSW Steel Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates issue qua validity of time-barred assessment orders, follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-264-ITAT-2023(CHNY)-TP
  • Tax Payer : Eaton Power Quality Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes revisionary jurisdiction u/s 263 assumed on wrong premise; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-266-ITAT-2023(DEL)-TP
  • Tax Payer : Shri Durga Loha Bhandar Pvt Ltd
Supreme Court

SC: Directs HC to examine TP issues afresh in light of SAP Labs ruling

  • In Favour of Both, Partially
  • Citation Number : TS-265-SC-2023-TP
  • Tax Payer : Subex Ltd
High Court

HC: Dismisses Revenue’s appeal w.r.t comparables selection, treatment of FOREX fluctuation; Follows Softbrands ruling

  • In Favour of Assessee
  • Citation Number : TS-720-HC-2021(KAR)-TP
  • Tax Payer : Subex Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment towards corporate guarantee fees; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-263-ITAT-2023(Ahd)-TP
  • Tax Payer : Suzlon Energy Limited
High Court

HC: Dismisses Revenue’s appeal qua TP-adjustment for management fees sans substantial question of law; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-260-HC-2023(CAL)-TP
  • Tax Payer : Landis GYR
Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment for L’oreal India absent international-transaction, applies rule of consistency

  • In Favour of Assessee
  • Citation Number : TS-262-ITAT-2023(Mum)-TP
  • Tax Payer : L’Oreal India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Determines corporate-guarantee commission @ 0.5%, fixes interest on delayed receivables @ 6%

  • In Favour of Both, Partially
  • Citation Number : TS-261-ITAT-2023(HYD)-TP
  • Tax Payer : Aurobindo Pharma Ltd.
Income tax Appellate Tribunal

ITAT: Accepts ERP implementation cost at ALP, rejects ‘Nil’ ALP; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-257-ITAT-2023(Mum)-TP
  • Tax Payer : Ciba India Ltd.
Income tax Appellate Tribunal

ITAT: Upholds ALP interest on outbound loan basis currency of repayment; Restricts guarantee commission at 0.53%

  • In Favour of Assessee
  • Citation Number : TS-258-ITAT-2023(HYD)-TP
  • Tax Payer : GKC Projects Limited
Income tax Appellate Tribunal

ITAT: Quashes TPO’s order being time barred by a day, holds assessee ‘ineligible’; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-259-ITAT-2023(Mum)-TP
  • Tax Payer : World Sport Group Pvt Ltd