Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Deletes addition on account of interest on delayed AE receivables; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-231-ITAT-2022(HYD)-TP
  • Tax Payer : Harsco India Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores Sec 271(1)(c) penalty matter to AO w.r.t TP-additions; Follows co-ordinate bench restoring quantum proceedings

  • In Favour of Assessee
  • Citation Number : TS-232-ITAT-2022(Ahd)-TP
  • Tax Payer : Atul Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment for non-binding investment advisory services provided by HSBC AMC; Rules on cost allocations

  • In Favour of Both, Partially
  • Citation Number : TS-229-ITAT-2022(Mum)-TP
  • Tax Payer : HSBC Asset Management (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Remits issues of working-capital adjustment and outstanding receivables

  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2022(Bang)-TP
  • Tax Payer : NetApp India Marketing & Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Grants conditional stay for 6 months, Directs 20% payment

  • In Favour of Assessee
  • Citation Number : TS-228-ITAT-2022(Bang)-TP
  • Tax Payer : Schneider Electric IT Business India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs no separate adjustment for AMP expenses, since assessee’s net margin at arm’s length

  • In Favour of Assessee
  • Citation Number : TS-226-ITAT-2022(Bang)-TP
  • Tax Payer : Epson India Private Limited
Income tax Appellate Tribunal

ITAT: Allows extended AE credit period in light of applicability of APA rollback; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-227-ITAT-2022(Bang)-TP
  • Tax Payer : ANZ Support Services India Private Limited
Income tax Appellate Tribunal

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

  • In Favour of Both, Partially
  • Citation Number : TS-223-ITAT-2022(Bang)-TP
  • Tax Payer : ANSR Global Corporation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects TPO’s PSM for royalty ALP determination; Holds TNMM as MAM, follows precedent

  • In Favour of Assessee
  • Citation Number : TS-222-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Boshoku Automotive India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Applies TNMM to benchmark counter guarantees issued by ANZ in India; Rejects CUP, follows Asian Paints ruling

  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2022(Mum)-TP
  • Tax Payer : Australia and New Zealand Banking Group Ltd
Income tax Appellate Tribunal

ITAT: Applies TNMM for benchmarking export of rice to AEs; Comments on applicability of +/-5% range benefit post 2009 amendment

  • In Favour of Both, Partially
  • Citation Number : TS-221-ITAT-2022(DEL)-TP
  • Tax Payer : L T Foods Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Directs forex loss be treated as non-operative; Grants working-capital adjustment on actuals

  • In Favour of Both, Partially
  • Citation Number : TS-220-ITAT-2022(Bang)-TP
  • Tax Payer : Marlabs Innovations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on purchases of traded goods; Directs gross margin of comparable company at 11.08%

  • In Favour of Both, Partially
  • Citation Number : TS-218-ITAT-2022(Mum)-TP
  • Tax Payer : B Braun Medical (India) Private Limited
High Court

HC: Quashes reassessment notice, order of reference to TPO and order rejecting assessee's objections to AO's jurisdiction

  • In Favour of Assessee
  • Citation Number : TS-219-HC-2022(KAR)-TP
  • Tax Payer : Bharat Fritz Werner Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for SWD; Grants working-capital adjustment on actuals

  • In Favour of Both, Partially
  • Citation Number : TS-215-ITAT-2022(Bang)-TP
  • Tax Payer : Meritor CVS India (P) Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on TP adjustments w.r.t software consultancy services, loans and guarantee; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-217-ITAT-2022(Mum)-TP
  • Tax Payer : Tata Consultancy Services Ltd
Income tax Appellate Tribunal

ITAT: Applies UK MAP/ APA margins to Luxembourg entity; Rules on ALP for purchase of fixed assets

  • In Favour of Assessee
  • Citation Number : TS-216-ITAT-2022(DEL)-TP
  • Tax Payer : Colt Technology Services India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Considers extended credit-period to AE as separate international-transaction; Imputes interest only qua overdue invoices

  • In Favour of Assessee
  • Citation Number : TS-211-ITAT-2022(Bang)-TP
  • Tax Payer : Biocon Biologics Limited
Income tax Appellate Tribunal

ITAT: Directs aggregation of commission, warranty and sale services transaction with distribution segment; Applies TNMM as MAM

  • In Favour of Both, Partially
  • Citation Number : TS-212-ITAT-2022(Bang)-TP
  • Tax Payer : TEKTRONIX INDIA PVT LTD
Income tax Appellate Tribunal

ITAT: Amended Sec 92CA(4) order binding on AO, No discretion to travel beyond ALP determined by TPO

  • In Favour of Assessee
  • Citation Number : TS-213-ITAT-2022(DEL)-TP
  • Tax Payer : EFS Facilities Services (India) Pvt Ltd