Rulings ( 11966 results )

Filters
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
Income tax Appellate Tribunal

ITAT: Deletes adhoc adjustment qua management-services sans prescribed method; Remits bank guarantee adjustment plea

  • In Favour of Both, Partially
  • Citation Number : TS-254-ITAT-2023(Mum)-TP
  • Tax Payer : Kongsberg Maritime CM India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs assessee to demonstrate requisite tests for IGS, remits TP-adjustment following earlier order

  • In Favour of Assessee
  • Citation Number : TS-255-ITAT-2023(Mum)-TP
  • Tax Payer : Ingredion India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds Revenue's benchmarking of interest on FCCDs @ LIBOR+200bps, follows Watermarke ruling

  • In Favour of Revenue
  • Citation Number : TS-256-ITAT-2023(HYD)-TP
  • Tax Payer : Fairfield Developments Limited
Income tax Appellate Tribunal

ITAT: Determines ALP at Nil for IGS, citing assessee’s failure to demonstrate need and receipt of such services

  • In Favour of Revenue
  • Citation Number : TS-251-ITAT-2023(CHNY)-TP
  • Tax Payer : International Flavours Fragrances India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s TP related appeal in view of MAP resolution

  • In Favour of Both, Partially
  • Citation Number : TS-252-ITAT-2023(Bang)-TP
  • Tax Payer : Intuit India Product Development Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds TNMM as MAM, dismisses ‘Nil’ ALP of brand/ management fee; Follows Precedents

  • In Favour of Assessee
  • Citation Number : TS-253-ITAT-2023(Kol)-TP
  • Tax Payer : Apollo Gleneagles Hospitals Ltd
Income tax Appellate Tribunal

ITAT: Observes ‘inherent inconsistency’ in comparability analysis qua advertising services; Directs fresh comparability analysis

  • In Favour of Both, Partially
  • Citation Number : TS-248-ITAT-2023(Mum)-TP
  • Tax Payer : Publicis Communication P Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua procurement cost citing acceptance of mirror transaction for AE; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-249-ITAT-2023(Mum)-TP
  • Tax Payer : Tecnimont SPA India Office
Income tax Appellate Tribunal

ITAT: Admits additional ground, quashes TPO's and final assessment orders being barred by limitation

  • In Favour of Assessee
  • Citation Number : TS-250-ITAT-2023(Mum)-TP
  • Tax Payer : Bristol-Myers Squibb India Private Limited
Income tax Appellate Tribunal

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

  • In Favour of Assessee
  • Citation Number : TS-247-ITAT-2023(Mum)-TP
  • Tax Payer : Colgate-Palmolive (India) Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on SDT given omission of Sec.92BA(i); Refuses remand of Sec.40A(2)(b)-applicability issue

  • In Favour of Assessee
  • Citation Number : TS-246-ITAT-2023(Mum)-TP
  • Tax Payer : Tranztar Commercial Vehicle Applications Limited
Income tax Appellate Tribunal

ITAT: Directs deletion of TP-addition qua reimbursement of expenses if not a P&L item, Upholds guarantee fee at 0.53%

  • In Favour of Both, Partially
  • Citation Number : TS-244-ITAT-2023(HYD)-TP
  • Tax Payer : Ocimum Bio Solutions (I) Ltd
Income tax Appellate Tribunal

ITAT: Holds assessee's main activity marketing, not distribution; Remits comparables' selection to CIT(A)

  • In Favour of Both, Partially
  • Citation Number : TS-245-ITAT-2023(PUN)-TP
  • Tax Payer : Hexagon Manufacturing Intelligence India Private Limited (Formerly known as MSC Software Corporation India Private Limited)
Income tax Appellate Tribunal

ITAT: Holds ‘other method’ over CUP/TNMM as MAM to benchmark royalty payment for unique intangibles

  • In Favour of Assessee
  • Citation Number : TS-243-ITAT-2023(Mum)-TP
  • Tax Payer : ASB International Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua transfer of captive power between units; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-241-ITAT-2023(RAI)-TP
  • Tax Payer : Godawari Power and Ispat Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s TNMM over CUP as MAM for export transaction; Remits ALP-determination

  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2023(Mum)-TP
  • Tax Payer : Omni Active Health Technologies Limited
Income tax Appellate Tribunal

ITAT: Holds reference to TPO invalid considering Sec.92BA(i) omission; Directs AO to examine allowability u/s.40A(2)

  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2023(CHNY)-TP
  • Tax Payer : Maharaja Refineries
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustments towards royalty/ referral fee payments & expense reimbursement; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-238-ITAT-2023(Mum)-TP
  • Tax Payer : CLSA India Pvt Ltd