Rulings ( 11966 results )

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Income tax Appellate Tribunal

ITAT: Excludes Infosys as comparable for routine IT service provider citing functional dissimilarity, upper turnover filter

  • In Favour of Assessee
  • Citation Number : TS-124-ITAT-2023(Bang)-TP
  • Tax Payer : Arris Group India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Wipro, Infosys as comparables; Deletes TP-adjustment qua reimbursement of out-of-pocket expenses

  • In Favour of Assessee
  • Citation Number : TS-123-ITAT-2023(Mum)-TP
  • Tax Payer : Capgemini India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed sans draft order; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-122-ITAT-2023(Kol)-TP
  • Tax Payer : Linc Pen & Plastics Ltd
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP of management fee payment when AE-relationship established due to existence of services

  • In Favour of Assessee
  • Citation Number : TS-121-ITAT-2023(Bang)-TP
  • Tax Payer : WeWork India Management P Ltd
Income tax Appellate Tribunal

ITAT: Excludes 8 comparables for failing upper turnover filter; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-120-ITAT-2023(Bang)-TP
  • Tax Payer : Aptean India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Prefers TNMM to PSM for benchmarking royalty; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-119-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Remits issue of considering cash profit for PLI computations; Excludes 5 comparables citing high turnover

  • In Favour of Both, Partially
  • Citation Number : TS-118-ITAT-2023(Bang)-TP
  • Tax Payer : Mapei Constructions Products (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds sale of 3.35% shares of United Spirits be subject to ALP determination; Reads 92A(2) "literally"

  • In Favour of Revenue
  • Citation Number : TS-117-ITAT-2023(Bang)-TP
  • Tax Payer : Palmer Investment Group Ltd
Income tax Appellate Tribunal

ITAT: Holds TPO order barred by limitation; Quashes draft order since assessee not an ‘eligible assessee’

  • In Favour of Assessee
  • Citation Number : TS-116-ITAT-2023(Mum)-TP
  • Tax Payer : Atos India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua interest on loan given to 100% subsidiary; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-115-ITAT-2023(DEL)-TP
  • Tax Payer : SRF Limited
Income tax Appellate Tribunal

ITAT: Cannot segregate SEB tariff into various components while computing ALP of sale of power

  • In Favour of Assessee
  • Citation Number : TS-113-ITAT-2023(HYD)-TP
  • Tax Payer : Bharathi Cement Corporation Private Limited
Income tax Appellate Tribunal

ITAT: Holds draft order passed alongwith demand/penalty notices null & void, follows Perfetti

  • In Favour of Assessee
  • Citation Number : TS-114-ITAT-2023(Kol)-TP
  • Tax Payer : Zydus Healthcare Limited (Successor to Zydus Healthcare Sikkim)
Income tax Appellate Tribunal

ITAT: Remits comparables for non-application of filters; Excludes 3 calling them giants in IT field

  • In Favour of Assessee
  • Citation Number : TS-109-ITAT-2023(Mum)-TP
  • Tax Payer : Minacs Private Limited (Formerly known as Aditya Birla Minacs Worldwide Limited)
Income tax Appellate Tribunal

ITAT: Excludes 4 applying upper-turnover filter; Restricts outstanding AE-receivables' interest at LIBOR+3.5%

  • In Favour of Both, Partially
  • Citation Number : TS-110-ITAT-2023(Bang)-TP
  • Tax Payer : Deliverhealth Solutions India Pvt Ltd, (earlier known as Nuance Transcription Services Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed beyond one month of DRP direction; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-111-ITAT-2023(Bang)-TP
  • Tax Payer : ARM Embedded Technologies Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats duty drawback as operating, rules on comparables, allows working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-112-ITAT-2023(Bang)-TP
  • Tax Payer : Kirloskar Toyota Textile Machinery Private Limited
Income tax Appellate Tribunal

ITAT: Rejects aggregate benchmarking under TNMM, directs AO to adopt customs valuation qua purchase transaction

  • In Favour of Assessee
  • Citation Number : TS-106-ITAT-2023(Bang)-TP
  • Tax Payer : AT India Auto Parts Private Limited
Income tax Appellate Tribunal

ITAT: Remits issue to decide denovo on nature of services rendered to AEs and non-AEs

  • In Favour of Both, Partially
  • Citation Number : TS-107-ITAT-2023(HYD)-TP
  • Tax Payer : E.Centric Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Remits ALP determination for purchase of capital goods & finished goods, leaves MAM selection open

  • In Favour of Both, Partially
  • Citation Number : TS-108-ITAT-2023(Mum)-TP
  • Tax Payer : Owens-Corning (India) Pvt Ltd [Formerly known as Owens Corning (India) Ltd]
Income tax Appellate Tribunal

ITAT: Excludes Titan, Tribhovandas Bhimji Zaveri as comparables for PNG Jewellers; Refuses separate SDT benchmarking

  • In Favour of Both, Partially
  • Citation Number : TS-105-ITAT-2023(PUN)-TP
  • Tax Payer : P N Gadgil Jewellers Pvt Ltd