Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Admits additional ground; Holds assessment order in non-compliance with DRP’s directions as non-est

  • In Favour of Assessee
  • Citation Number : TS-68-ITAT-2022(DEL)-TP
  • Tax Payer : L.G. Electronics Inc
Income tax Appellate Tribunal

ITAT: Rules on Ford India’s turnover base for royalty computation

  • In Favour of Both, Partially
  • Citation Number : TS-65-ITAT-2022(CHNY)-TP
  • Tax Payer : Ford Global Technologies LLC
Income tax Appellate Tribunal

ITAT: Upholds DRP’s direction for inclusion of Microland as ITES comparable absent Revenue’s objection

  • In Favour of Assessee
  • Citation Number : TS-64-ITAT-2022(Bang)-TP
  • Tax Payer : Capital One Services (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds assessee’s classification as ‘business support service provider’, Directs exclusion of FOB costs for margin computation

  • In Favour of Assessee
  • Citation Number : TS-66-ITAT-2022(DEL)-TP
  • Tax Payer : Itochu India Private Ltd
Income tax Appellate Tribunal

ITAT: Remits 7 comparables; Upholds 0.5% commission at ALP for corporate guarantee fee

  • In Favour of Both, Partially
  • Citation Number : TS-61-ITAT-2022(Bang)-TP
  • Tax Payer : Xchanging Solutions Ltd (formerly Cambridge Solutions Limited)
Income tax Appellate Tribunal

ITAT: Rules on comparables for SWD and ITeS segments; Adjudicates on working capital adjustment and other grounds

  • In Favour of Both, Partially
  • Citation Number : TS-63-ITAT-2022(HYD)-TP
  • Tax Payer : ADP Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Upholds RPM as MAM subject to AMP functional intensity adjustment; Deletes BLT based protective adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-62-ITAT-2022(DEL)-TP
  • Tax Payer : Luxottica India Eyewear Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds deferred AE receivable as international transaction; Imputes LIBOR+2% as ALP interest on O/s receivables

  • In Favour of Both, Partially
  • Citation Number : TS-59-ITAT-2022(Bang)-TP
  • Tax Payer : Swiss Re Global Business Solutions India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits verification of similarity of current year facts and law qua APA for subsequent years; Admits supporting evidences

  • In Favour of Assessee
  • Citation Number : TS-58-ITAT-2022(CHNY)-TP
  • Tax Payer : Sanmina – SCI India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Allows assessee’s aggregation of closely linked transactions for ALP determination; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-56-ITAT-2022(Bang)-TP
  • Tax Payer : Societe General Global Solution Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables; Excludes 3, remits 6 for verification; Denies negative working-capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-60-ITAT-2022(Bang)-TP
  • Tax Payer : Harman Connected Services Corporation India Private Limited (formerly known as Core Objects India Private Limited)
Income tax Appellate Tribunal

ITAT: Upholds provision for bad debts as ‘operating’; Denies lease rental adjustment on unutilized capacity

  • In Favour of Both, Partially
  • Citation Number : TS-49-ITAT-2022(CHNY)-TP
  • Tax Payer : MPS Technologies Ltd
Income tax Appellate Tribunal

ITAT: Directs conditional deletion of Bharti Airtel’s TP-adjustment on notional AE-interest; Distinguishes from prior-AY

  • In Favour of Both, Partially
  • Citation Number : TS-57-ITAT-2022(DEL)-TP
  • Tax Payer : Bharti Airtel Services Limited
Income tax Appellate Tribunal

ITAT: Directs 40A(2) examination while deleting TP-adjustment on SDT; Follows jurisdictional HC

  • In Favour of Both, Partially
  • Citation Number : TS-55-ITAT-2022(Bang)-TP
  • Tax Payer : Neogenetics Foods Private Limited
High Court

HC: Refuses reconsideration of TP questions in remand proceedings; Takes cognisance of prior rulings

  • In Favour of Assessee
  • Citation Number : TS-53-HC-2022(RAJ)-TP
  • Tax Payer : Vaibhav Global Limited
Income tax Appellate Tribunal

ITAT: Excludes 4 comparables, includes 1, remits 2; Remits adjustment on account of outstanding receivables

  • In Favour of Both, Partially
  • Citation Number : TS-54-ITAT-2022(Bang)-TP
  • Tax Payer : Global e-Business Operations Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits grant of working capital adjustment, rules on comparables for SWD segment; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-52-ITAT-2022(Bang)-TP
  • Tax Payer : Auriga Software Technologies Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 3 comparables on the basis of FAR analysis; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-51-ITAT-2022(Bang)-TP
  • Tax Payer : Acusis Software India Pvt Ltd
Foreign Court

FC: Holds interest on Loan notes benchmarking should be contemporaneous and in line with third party scenario

  • In Favour of Revenue
  • Citation Number : TS-33-FC-2022(AUS)-TP
  • Tax Payer : Singapore Telecom Australia Investments Pty Ltd
Income tax Appellate Tribunal

ITAT: Upholds RPM for finished goods and TNMM for semi-finished, subject to substantiation, Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-46-ITAT-2022(Bang)-TP
  • Tax Payer : AMC Cookware (India) Pvt Ltd