Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Sec.92C(4) inapplicable where Sec.10A exemption not claimed on TP adjustment; Sets aside revisionary order

  • In Favour of Assessee
  • Citation Number : TS-172-ITAT-2022(DEL)-TP
  • Tax Payer : Linde engineering India private limited
Income tax Appellate Tribunal

ITAT: Delineates extended trade credit from loan; Remits for benchmarking basis interest rate in open market

  • In Favour of Both, Partially
  • Citation Number : TS-170-ITAT-2022(Mum)-TP
  • Tax Payer : Tech Mahindra Limited
Income tax Appellate Tribunal

ITAT: Directs deletion of adjustment on account of intra-group services; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-165-ITAT-2022(DDN)-TP
  • Tax Payer : BG Exploration & Production India Ltd
Income tax Appellate Tribunal

ITAT: Accepts year-specific exchange rate differential as markup on LIBOR for interest on receivables

  • In Favour of Both, Partially
  • Citation Number : TS-161-ITAT-2022(DEL)-TP
  • Tax Payer : Headstrong Services India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Non-specific doubts on Auditor’s disclaimer not enough for rejecting segmental accounts entirely; Remits appeal

  • In Favour of Both, Partially
  • Citation Number : TS-168-ITAT-2022(Mum)-TP
  • Tax Payer : V2 Tech Ventures Pvt Ltd
Income tax Appellate Tribunal

ITAT: Pledging of shares for AE's loan akin to corporate guarantee; Upholds benchmarking on similar lines

  • In Favour of Both, Partially
  • Citation Number : TS-167-ITAT-2022(Mum)-TP
  • Tax Payer : Virgo Valves & Controls Ltd
Income tax Appellate Tribunal

ITAT: Allows risk adjustment basis unique manufacturing activity & competitive landscape; Upholds Ashnoor Textiles Mills as comparable

  • In Favour of Assessee
  • Citation Number : TS-164-ITAT-2022(CHNY)-TP
  • Tax Payer : India Trimmings (P) Ltd
Income tax Appellate Tribunal

ITAT: Deletes cost contribution adjustment, following group entity's case; Rejects standalone benchmarking under CUP

  • In Favour of Assessee
  • Citation Number : TS-162-ITAT-2022(Bang)-TP
  • Tax Payer : Ingersoll-Rand Technologies and Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds interest on AE-loan computable for outstanding period, not for entire year on closing balance

  • In Favour of Both, Partially
  • Citation Number : TS-163-ITAT-2022(Bang)-TP
  • Tax Payer : OPTO Circuits (India) Ltd
Income tax Appellate Tribunal

ITAT: Excludes SWD and ITeS companies above Rs.200 Cr. turnover; Deletes negative WC adjustment for captive service provider

  • In Favour of Assessee
  • Citation Number : TS-160-ITAT-2022(Bang)-TP
  • Tax Payer : Quest Global Engineering Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits verification of clubbing of non-AE expenses under AE segment; Holds onus lies on assessee

  • In Favour of Both, Partially
  • Citation Number : TS-159-ITAT-2022(Bang)-TP
  • Tax Payer : Inger-Soll Rand International (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds turnover filter of Rs.200-Rs.2000 Cr. in SWD & ITeS segments; Follows LG Soft India

  • In Favour of Both, Partially
  • Citation Number : TS-151-ITAT-2022(Bang)-TP
  • Tax Payer : Robert Bosch Engineering and Business Solutions Ltd
Income tax Appellate Tribunal

ITAT: Quashes TPO’s order proposing adjustment of SDT due to deletion of Sec.92BA(i); Relies on Ammann India

  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2022(Ahd)-TP
  • Tax Payer : Laxmi Hydrocolloids
Income tax Appellate Tribunal

ITAT: Remits manufacturing segment's capacity utilization adjustment; Rules on ITES comparables

  • In Favour of Both, Partially
  • Citation Number : TS-157-ITAT-2022(Bang)-TP
  • Tax Payer : Brady Company India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Admits additional evidence, directs verification of applicability of internal TNMM over external

  • In Favour of Both, Partially
  • Citation Number : TS-153-ITAT-2022(Bang)-TP
  • Tax Payer : Altran Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs verification if assessee’s business akin to SWD or software manufacturing; Upholds LIBOR+2% on receivables

  • In Favour of Assessee
  • Citation Number : TS-156-ITAT-2022(Bang)-TP
  • Tax Payer : Talisma Corporation Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs TP adjustment basis verification if Schneidar's FAR akin to SWD or R&D service

  • In Favour of Both, Partially
  • Citation Number : TS-154-ITAT-2022(Bang)-TP
  • Tax Payer : Schneider Electric IT Business India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Following SC ruling in Maruti Suzuki, quashes assessment order passed in predecessor’s name

  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2022(DEL)-TP
  • Tax Payer : Honda Cars India Ltd
Income tax Appellate Tribunal

ITAT: Upholds OP/Sales as PLI for textile machinery & auto components manufacturing segments

  • In Favour of Both, Partially
  • Citation Number : TS-149-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Industries Engine India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds CUP for royalty tenable since comparables available, despite TNMM at entity level

  • In Favour of Both, Partially
  • Citation Number : TS-152-ITAT-2022(CHNY)-TP
  • Tax Payer : Doosan Power Systems India Pvt Ltd