Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Accepts delayed submission of requisitioned information due to CFO-unavailability; Deletes Sec.271G-penalty

  • In Favour of Assessee
  • Citation Number : TS-572-ITAT-2022(Mum)-TP
  • Tax Payer : JSW Energy Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates various adjustments including corporate guarantee, loan, etc qua Sun Pharma; Follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-570-ITAT-2022(Ahd)-TP
  • Tax Payer : Sun Pharmaceutical Industries Ltd
Income tax Appellate Tribunal

ITAT: Applies upper-turnover filter of 200 crores for SWD service provider; Remits working-capital adjustment

  • In Favour of Assessee
  • Citation Number : TS-571-ITAT-2022(Bang)-TP
  • Tax Payer : Atos IT Services Private Limited
Income tax Appellate Tribunal

ITAT: Without final addition AO's "formation of belief" qua income escapement fails, Quashes re-assessment

  • In Favour of Assessee
  • Citation Number : TS-569-ITAT-2022(Mum)-TP
  • Tax Payer : Edelweiss Rural & Corporate Services Limited (Earlier known as M/s. Edelweiss Commodities Services Limited)
Income tax Appellate Tribunal

ITAT: FTS paid by assessee not duplication of royalty payment, directs revenue to revisit TP analysis

  • In Favour of Assessee
  • Citation Number : TS-568-ITAT-2022(Bang)-TP
  • Tax Payer : Praxair India Private Limited
Income tax Appellate Tribunal

ITAT: Benchmarks royalty under trading segment given lack of comparables; Remits comparison

  • In Favour of Assessee
  • Citation Number : TS-567-ITAT-2022(Bang)-TP
  • Tax Payer : Wipro GE Healthcare Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 3, remits 1 as comparables for logistics-services provider; Remits margin-computation dispute

  • In Favour of Both, Partially
  • Citation Number : TS-564-ITAT-2022(Mum)-TP
  • Tax Payer : OOCL Logistics (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP determination of AMP expenses for Diageo India, follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-565-ITAT-2022(Mum)-TP
  • Tax Payer : Diageo India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes concealment penalty levied on Sun Pharma for Pantoprazole supply as quantum addition deleted

  • In Favour of Both, Partially
  • Citation Number : TS-566-ITAT-2022(Ahd)-TP
  • Tax Payer : Sun Pharmaceutical Industries Ltd
Income tax Appellate Tribunal

ITAT: Holds guideline value of land building as fair value for redemption of preference shares; No TP and deemed dividend adjustment

  • In Favour of Assessee
  • Citation Number : TS-563-ITAT-2022(Bang)-TP
  • Tax Payer : Information Technology Park Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on various issues qua working-capital adjustment, treatment of FOREX fluctuation, comparables selection & more!

  • In Favour of Both, Partially
  • Citation Number : TS-559-ITAT-2022(Bang)-TP
  • Tax Payer : Inteva Products India Automotive Pvt Ltd
Income tax Appellate Tribunal

ITAT: Includes Marketing Consultants Agencies Ltd as comparable; Considers AO/TPO's failure to comply with DRP’s direction

  • In Favour of Assessee
  • Citation Number : TS-560-ITAT-2022(Mum)-TP
  • Tax Payer : NBC Fashion India Private Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua sourcing commission payment for Nike India; Accepts royalty-payment adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-561-ITAT-2022(Bang)-TP
  • Tax Payer : Nike India Private Limited
Income tax Appellate Tribunal

ITAT: Remits ALP determination w.r.t interest on delayed AE-receivables; Directs following rules with proper benchmarking study

  • In Favour of Assessee
  • Citation Number : TS-562-ITAT-2022(Bang)-TP
  • Tax Payer : Safran Engineering Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs denovo benchmarking for counter guarantees; Distinguishes Mumbai ITAT's ANZ Bank ruling

  • In Favour of Both, Partially
  • Citation Number : TS-558-ITAT-2022(Mum)-TP
  • Tax Payer : Mizuho Bank Ltd (Formerly Mizuho Cooperative Bank Ltd)
Income tax Appellate Tribunal

ITAT: Rules on comparable for logistics-services provider; Excludes company citing presence of ‘un-allocable revenue/expenditure’

  • In Favour of Both, Partially
  • Citation Number : TS-553-ITAT-2022(Mum)-TP
  • Tax Payer : OOCL Logistics (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes L&T, Infosys, Persistent citing extraordinary event, functional dissimilarity; Restricts interest @LIBOR+250 on receivables

  • In Favour of Both, Partially
  • Citation Number : TS-554-ITAT-2022(HYD)-TP
  • Tax Payer : Indeed India Operations Private Limited
Income tax Appellate Tribunal

ITAT: Determines LIBOR+2% as interest on delayed AE-receivables; Follows Aurionpro Solutions HC-ruling

  • In Favour of Assessee
  • Citation Number : TS-555-ITAT-2022(Bang)-TP
  • Tax Payer : Rittal India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts foreign AE as tested party for WNS; No aggregation of different sets of transaction for ITeS

  • In Favour of Assessee
  • Citation Number : TS-556-ITAT-2022(Mum)-TP
  • Tax Payer : WNS Global Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparable qua assessee's Corporate Support / Contract R&D Services segments

  • In Favour of Both, Partially
  • Citation Number : TS-557-ITAT-2022(HYD)-TP
  • Tax Payer : International Speciality Products (India) Private Limited