Rulings ( 11972 results )

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Supreme Court

SC: Dismisses Revenue’s SLP against HC-order holding Sub-sections (1) & (2) of Sec. 92A interlinked

  • In Favour of Assessee
  • Citation Number : TS-718-SC-2021-TP
  • Tax Payer : Page Industries Ltd
Income tax Appellate Tribunal

ITAT: Remits TP issue, to be decided in light of APA for subsequent AYs if transactions similar

  • In Favour of Both, Partially
  • Citation Number : TS-509-ITAT-2022(VIZ)-TP
  • Tax Payer : Seeds Intimate Apparel India Private Limited
Income tax Appellate Tribunal

ITAT: Holds TP-order passed beyond time limit barred by limitation; Quashes subsequent TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-508-ITAT-2022(Bang)-TP
  • Tax Payer : SAP Labs India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustment w.r.t payment of interest on CCDs, follows HC-ruling in India Debt Management

  • In Favour of Assessee
  • Citation Number : TS-510-ITAT-2022(Mum)-TP
  • Tax Payer : Mahindra Homes Private Limited
Income tax Appellate Tribunal

ITAT: Upholds PCIT’s Sec. 263 order; Reference to TPO for ALP-determination of SDTs mandatory

  • In Favour of Both, Partially
  • Citation Number : TS-511-ITAT-2022(CHANDI)-TP
  • Tax Payer : Leeford Healthcare Limited
Income tax Appellate Tribunal

ITAT: Calls out TPO’s restrictive view qua AE-services received; Adjustment without appropriate benchmarking method unsustainable

  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2022(Ahd)-TP
  • Tax Payer : Ineos Styrolution India Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in SWD and MSS segments, allows working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-504-ITAT-2022(Bang)-TP
  • Tax Payer : Blue Coat Network (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Aggregates closely linked import and export transactions; Adopts TNMM as MAM

  • In Favour of Revenue
  • Citation Number : TS-505-ITAT-2022(VIZ)-TP
  • Tax Payer : Pioneer Elastic India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables in SWD segment; Adjudicates on working capital adjustment and margin computation

  • In Favour of Both, Partially
  • Citation Number : TS-506-ITAT-2022(Bang)-TP
  • Tax Payer : SAP Labs India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables with high turnover; Remits issues qua notional interest, forex loss treatment

  • In Favour of Both, Partially
  • Citation Number : TS-507-ITAT-2022(Bang)-TP
  • Tax Payer : Quicklogic Software (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows working-capital adjustment, remits margin computation plea for SWD services provider

  • In Favour of Both, Partially
  • Citation Number : TS-501-ITAT-2022(Bang)-TP
  • Tax Payer : Airlinq Technology Pvt Ltd (Formerly known as Globe Touch Technologies Private Limited)
Income tax Appellate Tribunal

ITAT: Disapproves use of benefit test for intra-group services; Remits ALP determination

  • In Favour of Assessee
  • Citation Number : TS-502-ITAT-2022(PUN)-TP
  • Tax Payer : A Raymond Fasteners India Private Limited
Income tax Appellate Tribunal

ITAT: Holds AO cannot reject assessee's segmental accounts without showing defect

  • In Favour of Assessee
  • Citation Number : TS-503-ITAT-2022(DEL)-TP
  • Tax Payer : SMA Nutrition India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment-order passed without adherence to Sec.144C; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-498-ITAT-2022(HYD)-TP
  • Tax Payer : Hyundai Motor India Engineering Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables in ITeS segment, treats forex gain as part of operating revenue

  • In Favour of Assessee
  • Citation Number : TS-497-ITAT-2022(PUN)-TP
  • Tax Payer : Transperfect Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 2 comparables citing trading revenue difference / merger; Restricts adjustment to international transactions

  • In Favour of Both, Partially
  • Citation Number : TS-499-ITAT-2022(PUN)-TP
  • Tax Payer : Franke Faber India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua technical know-how fees, mark-up on expenses recovery; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-500-ITAT-2022(Mum)-TP
  • Tax Payer : UPS Express Private Ltd (Formerly known as UPS Jetair Express Private Ltd)
Income tax Appellate Tribunal

ITAT: Notes insufficient proof of intra-group service, Remits for determination on rendition and MAM to benchmark mark-up

  • In Favour of Assessee
  • Citation Number : TS-496-ITAT-2022(Mum)-TP
  • Tax Payer : Interactive Brokers (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 4 companies being functionally-dissimilar to LG Soft India; Allows working-capital adjustment

  • In Favour of Assessee
  • Citation Number : TS-492-ITAT-2022(Bang)-TP
  • Tax Payer : LG Soft India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Treats forex loss as non-operating in nature, Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-494-ITAT-2022(HYD)-TP
  • Tax Payer : Proseed India Limited, (Formerly Green Fire Agri Commodities Limited)