Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Rules on SWD comparables’ selections, excludes 4; Deletes negative working capital adjustment

  • In Favour of Assessee
  • Citation Number : TS-88-ITAT-2022(Bang)-TP
  • Tax Payer : Herbalife International India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds SEB rate for transfer of power as against average IEX rate; Rejects ‘Nil’ cost of steam generation

  • In Favour of Assessee
  • Citation Number : TS-89-ITAT-2022(CHANDI)-TP
  • Tax Payer : Nectar Lifesciences Ltd
High Court

HC: Allows assessee's writ, sets aside TP order; Directs grant of opportunity of hearing through virtual mode

  • In Favour of Assessee
  • Citation Number : TS-87-HC-2022(DEL)-TP
  • Tax Payer : Dabur India Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on receipt of sales-commission given infirmities in TPO’s approach; Distinguishes prior year addition methodology

  • In Favour of Assessee
  • Citation Number : TS-86-ITAT-2022(PUN)-TP
  • Tax Payer : Atlas Copco (India) Limited
Income tax Appellate Tribunal

ITAT: Upholds grant of depreciation adjustment made to assessee’s margins; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-81-ITAT-2022(Bang)-TP
  • Tax Payer : 24/7 Customer Private Ltd
Income tax Appellate Tribunal

ITAT: Directs aggregated benchmarking for sales and extended credit facility; Deems them ‘ closely linked’ transaction

  • In Favour of Assessee
  • Citation Number : TS-83-ITAT-2022(Mum)-TP
  • Tax Payer : Yash Jewellery Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A); Directs TNMM based benchmarking for IGS rendered by AEs

  • In Favour of Both, Partially
  • Citation Number : TS-82-ITAT-2022(Mum)-TP
  • Tax Payer : Endemol India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds Singapore AE as tested party; RPM as MAM for import of finished goods

  • In Favour of Assessee
  • Citation Number : TS-80-ITAT-2022(Mum)-TP
  • Tax Payer : Kellogg India Private Limited
Income tax Appellate Tribunal

ITAT: Permits part withdrawal of appeal; Grounds pertaining to TP issues covered under APA

  • In Favour of Assessee
  • Citation Number : TS-79-ITAT-2022(PUN)-TP
  • Tax Payer : NortonLifeLock India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables selection; Denies risk adjustment sans higher risk profile of assessee

  • In Favour of Both, Partially
  • Citation Number : TS-78-ITAT-2022(PUN)-TP
  • Tax Payer : Knorr-Bremse Technology Center India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds deletion of 271(1)(c) penalty; ALP adjustment due to estimation difference not concealment

  • In Favour of Assessee
  • Citation Number : TS-76-ITAT-2022(Mum)-TP
  • Tax Payer : Zee Entertainment Enterprises Ltd
Income tax Appellate Tribunal

ITAT: Rejects DRP’s non-inclusion of companies having data in public-domain; Applies upper turnover filter

  • In Favour of Both, Partially
  • Citation Number : TS-73-ITAT-2022(Bang)-TP
  • Tax Payer : Prism Networks Private Limited
Income tax Appellate Tribunal

ITAT: Allows working capital adjustment on SDT; Follows Huawei Technologies ruling

  • In Favour of Both, Partially
  • Citation Number : TS-75-ITAT-2022(Bang)-TP
  • Tax Payer : Bharat Vijaykumar Jain
Income tax Appellate Tribunal

ITAT: Remits determination of existence of international transaction for AMP-expenses; Directs de novo adjudication

  • In Favour of Both, Partially
  • Citation Number : TS-77-ITAT-2022(Bang)-TP
  • Tax Payer : Transitions Optical Distribution Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds new jurisdictional AO’s order subsequent to address change; Concurs with CIT(A)’s adjudication on merits

  • In Favour of Assessee
  • Citation Number : TS-74-ITAT-2022(DEL)-TP
  • Tax Payer : Xavient Information Systems (I) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs application of 15% RPT filter; Remits capacity adjustment and turnover filter determination

  • In Favour of Both, Partially
  • Citation Number : TS-71-ITAT-2022(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes 271BA penalty on MTNL qua non-reporting of salary cost of deputed employees, Applies 273B

  • In Favour of Assessee
  • Citation Number : TS-72-ITAT-2022(DEL)-TP
  • Tax Payer : Mahanagar Telephone Nigam Ltd
Income tax Appellate Tribunal

ITAT: Rejects applicability of Berry Ratio to full-fledged manufacturers; Reads Sumitomo Corporation ruling

  • In Favour of Assessee
  • Citation Number : TS-70-ITAT-2022(JPR)-TP
  • Tax Payer : Vaibhav Global Limited
Income tax Appellate Tribunal

ITAT: Deletes interest on outstanding receivables from AE; Directs TP adjustment of 0.50% on corporate guarantee

  • In Favour of Both, Partially
  • Citation Number : TS-69-ITAT-2022(Bang)-TP
  • Tax Payer : Tejas Networks Limited
Income tax Appellate Tribunal

ITAT: Excludes 2, remits 2 comparables; Restores depreciation adjustment and remits working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-67-ITAT-2022(DEL)-TP
  • Tax Payer : DE Diamond Electric India Pvt Ltd