Rulings ( 11966 results )

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Income tax Appellate Tribunal

ITAT: Holds corporate-guarantee as international transaction, determines ALP @ 0.50%; Applies rule of consistency

  • In Favour of Both, Partially
  • Citation Number : TS-143-ITAT-2023(VIZ)-TP
  • Tax Payer : 3F Industries Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables qua engineering services / MSS for functional dissimilarity, failing RPT filter etc

  • In Favour of Both, Partially
  • Citation Number : TS-144-ITAT-2023(DEL)-TP
  • Tax Payer : UOP India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables for functional dissimilarity, failing R&D filter; Adopts GP/Sales as PLI, follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-140-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Industries Engine India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts ALP for corporate guarantee fee @ 0.50% and rejects interest saved approach; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2023(Kol)-TP
  • Tax Payer : Karam Chand Thapar & Bros. Coal Sales Limited
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua reimbursement of expenses from AE; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-142-ITAT-2023(Mum)-TP
  • Tax Payer : Ness Digital Engineering (India) Pvt Ltd (Formerly known as Ness Technologies (India) Pvt Ltd)
High Court

HC: Quashes TPO’s order that was time barred u/s 92CA(3A) by 1 day

  • In Favour of Assessee
  • Citation Number : TS-136-HC-2023(MAD)-TP
  • Tax Payer : Sensiple Software Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustments qua depreciation, working capital, tolerance range issue, comparables selection

  • In Favour of Both, Partially
  • Citation Number : TS-139-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Tsusho India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Determines ALP w.r.t. corporate and performance guarantee commission fee @ 0.5%; Follows earlier orders

  • In Favour of Both, Partially
  • Citation Number : TS-137-ITAT-2023(Mum)-TP
  • Tax Payer : Global Offshore Services Limited
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP determination of management fee payment but directs assessee to substantiate need/benefit tests

  • In Favour of Both, Partially
  • Citation Number : TS-138-ITAT-2023(Mum)-TP
  • Tax Payer : MWH India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment for royalty qua DEMPE related functions in case of Mercedes-Benz India

  • In Favour of Both, Partially
  • Citation Number : TS-130-ITAT-2023(PUN)-TP
  • Tax Payer : Mercedes-Benz India Pvt Ltd
High Court

HC: Directs tax refund basis returned income citing failure to pass assessment order within time allowed u/s 153(3) and 153(4)

  • In Favour of Assessee
  • Citation Number : TS-135-HC-2023(DEL)-TP
  • Tax Payer : Aricent Technologies (Holding) Limited
Income tax Appellate Tribunal

ITAT: Allows custom-duty adjustment and remits TP-adjustment qua IGS, R&D expenses; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-134-ITAT-2023(PUN)-TP
  • Tax Payer : Faurecia Automotive Seating India P Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables qua SWD, ITES; Adopts interest @ LIBOR 6 months+300bps on receivables

  • In Favour of Both, Partially
  • Citation Number : TS-133-ITAT-2023(Bang)-TP
  • Tax Payer : NTT Data Information Processing Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds, finding fault with TPO doesn't absolve CIT(A) from responsibility to determine ALP u/s 92C

  • In Favour of Both, Partially
  • Citation Number : TS-131-ITAT-2023(Mum)-TP
  • Tax Payer : Gea Procees Engineering (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparable selection; Remits adjustment qua working capital, capacity utilization and operating cost; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-129-ITAT-2023(Bang)-TP
  • Tax Payer : Shindengen India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sales to local vendors uninfluenced by AE, not deemed international transactions for computing TP-adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-132-ITAT-2023(Bang)-TP
  • Tax Payer : Comer Industries India Private Limited
Foreign Court

FC: US Tax Court upholds TP adjustment qua trademark royalty; Rules on validity of foreign legal restrictions

  • In Favour of Revenue
  • Citation Number : TS-128-FC-2023(USA)-TP
  • Tax Payer : 3M Company and Subsidiaries
Income tax Appellate Tribunal

ITAT: Upholds ALP interest on outbound foreign currency loans at rates prevalent in AE-residence country; Follows Cotton Naturals

  • In Favour of Assessee
  • Citation Number : TS-125-ITAT-2023(DEL)-TP
  • Tax Payer : Uniparts India Ltd
Income tax Appellate Tribunal

ITAT: Remits TP adjustments w.r.t marketing support services, mark-up on external cost

  • In Favour of Assessee
  • Citation Number : TS-126-ITAT-2023(Mum)-TP
  • Tax Payer : Boehringer Ingelheim India Private Limited
Income tax Appellate Tribunal

ITAT: Change in filters / comparables not concealment of income; Deletes penalty u/s 271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-127-ITAT-2023(DEL)-TP
  • Tax Payer : AON Services India Pvt Ltd