Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Rejects characterization of optionally convertible debenture as debt; Deletes ALP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-372-ITAT-2022(Mum)-TP
  • Tax Payer : TV 18 Broadcast Limited
Income tax Appellate Tribunal

ITAT: Case selected for scrutiny on TP risk parameter requires TPO’s reference; Falls under requisites of Instruction No. 3/2016

  • In Favour of Both, Partially
  • Citation Number : TS-371-ITAT-2022(Bang)-TP
  • Tax Payer : Mapei Construction Products (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment-order passed beyond 30 days; No verification by TPO needed post DRP directions

  • In Favour of Assessee
  • Citation Number : TS-368-ITAT-2022(DEL)-TP
  • Tax Payer : Adobe Systems India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits AMP adjustment qua Lenovo's trading segment to verify ALP of margin, accepts CUP for manufacturing

  • In Favour of Assessee
  • Citation Number : TS-370-ITAT-2022(Bang)-TP
  • Tax Payer : Lenovo (India) Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Upholds final assessment order basis dispatch date despite different CPC date, Refers to pre-2018 procedure followed by Revenue

  • In Favour of Both, Partially
  • Citation Number : TS-369-ITAT-2022(Bang)-TP
  • Tax Payer : VMware Software India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects LIBOR base for benchmarking outstanding AE-receivables on grounds of profit shifting to AE

  • In Favour of Both, Partially
  • Citation Number : TS-367-ITAT-2022(HYD)-TP
  • Tax Payer : Zeta Interactive Systems (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds deletion of 271G penalty levied on diamond trader, follows Navin Chandra ruling

  • In Favour of Assessee
  • Citation Number : TS-363-ITAT-2022(Mum)-TP
  • Tax Payer : Kapu Gems
Income tax Appellate Tribunal

ITAT: Remits MAM selection for ophthalmic goods' trading segment; Directs furnishing of segmental details

  • In Favour of Assessee
  • Citation Number : TS-365-ITAT-2022(Bang)-TP
  • Tax Payer : Johnson & Johnson Surgical Vision India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination with direction to group commission income and supervisory income for EPC-service provider

  • In Favour of Both, Partially
  • Citation Number : TS-366-ITAT-2022(Mum)-TP
  • Tax Payer : Gea Process Engineering (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restricts corporate-guarantee commission @ 0.6%; Deletes ALP-adjustment w.r.t interest on AE-receivables

  • In Favour of Both, Partially
  • Citation Number : TS-717-ITAT-2021(HYD)-TP
  • Tax Payer : Axis Clinicals Limited
Income tax Appellate Tribunal

ITAT: Directs TPO to apply upper turnover filter, allow working capital adjustment, benchmark AE receivables

  • In Favour of Both, Partially
  • Citation Number : TS-364-ITAT-2022(Bang)-TP
  • Tax Payer : Ametek Instruments India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables in SWD segment; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-362-ITAT-2022(Bang)-TP
  • Tax Payer : Enstage Software Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on export transactions, AMP-expenses and royalty-payments; Follows earlier-orders

  • In Favour of Assessee
  • Citation Number : TS-361-ITAT-2022(Bang)-TP
  • Tax Payer : Himalaya Wellness Company (formerly known as The Himalaya Drug Company)
High Court

HC: Quashes assessment based on TPO reference after expiry of time limit u/s 153; Disregards Revenue's estoppel plea

  • In Favour of Assessee
  • Citation Number : TS-360-HC-2022(MAD)-TP
  • Tax Payer : Virtusa Consulting Services Private Limited
High Court

HC: Holds Sections 144C and 153 to be mutually-inclusive; Limitation period u/s. 153(2A) or 153(3) applicable in remand cases

  • In Favour of Assessee
  • Citation Number : TS-359-HC-2022(MAD)-TP
  • Tax Payer : Roca Bathroom Products Private Limited
Income tax Appellate Tribunal

ITAT: Remits Sec.271(1)(c) penalty issue considering remand of Management-Service Fee in quantum appeal

  • In Favour of Assessee
  • Citation Number : TS-358-ITAT-2022(PUN)-TP
  • Tax Payer : Tieto India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects disallowance u/s 10B(7) r.w.s. 80IA(10); Highlights Revenue's failure to prove existence of arrangement between assessee and AE

  • In Favour of Assessee
  • Citation Number : TS-357-ITAT-2022(PUN)-TP
  • Tax Payer : Halliburton Technology Industries Pvt Ltd
Income tax Appellate Tribunal

ITAT: Sets aside BLT based protective AMP-adjustment; Follows jurisdictional HC despite pending SC appeal

  • In Favour of Assessee
  • Citation Number : TS-355-ITAT-2022(DEL)-TP
  • Tax Payer : MSD Pharmaceuticals Private Limited
Income tax Appellate Tribunal

ITAT: Accepts assessee’s change of MAM from TNMM to CUP for medical transcription services

  • In Favour of Assessee
  • Citation Number : TS-354-ITAT-2022(Mum)-TP
  • Tax Payer : Aquity Solutions India Pvt Ltd (Earlier known as M Modal Global Services Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Cannot insist on 'clear evidence' while applying benefit test; TPO to examine if Formula One Team is UBL's AE

  • In Favour of Both, Partially
  • Citation Number : TS-353-ITAT-2022(Bang)-TP
  • Tax Payer : United Breweries Ltd