Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Remits imputation of notional interest on outstanding receivables to factor effect of working capital; Upholds guarantee fee of 0.75% -0.80% and LIBOR for loans to AE

  • In Favour of Both, Partially
  • Citation Number : TS-640-ITAT-2021(PUN)-TP
  • Tax Payer : Wockhardt Ltd.
Income tax Appellate Tribunal

ITAT: Excludes Persistent, Infosys,etc. for SWD seg and BNR Udyog for ITES seg; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-641-ITAT-2021(Bang)-TP
  • Tax Payer : Unisys India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Holds fresh TP reference mandatory for 153C proceedings; Quashes original TP-order and consequent TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-638-ITAT-2021(Mum)-TP
  • Tax Payer : UltraTech Cement Ltd
Income tax Appellate Tribunal

ITAT: Rejects Infosys, L&T Infotech, Persistent in line with consistent view on exclusion; Restores working-capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-636-ITAT-2021(Bang)-TP
  • Tax Payer : Tecnotree Convergence Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for SWD service provider, Remits issue on interest on outstanding AE-receivables

  • In Favour of Both, Partially
  • Citation Number : TS-637-ITAT-2021(Bang)-TP
  • Tax Payer : Synamedia India Pvt Ltd (formerly known as Cisco Video Technologies India Pvt Ltd)
Income tax Appellate Tribunal

ITAT: Remits determination of MAM and ALP wrt installation and commissioning services rendered, corporate fees paid

  • In Favour of Both, Partially
  • Citation Number : TS-635-ITAT-2021(Mum)-TP
  • Tax Payer : Kongsberg Maritime India Private Limited
Income tax Appellate Tribunal

ITAT: Holds RPM as MAM for resale of goods without value addition; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-634-ITAT-2021(DEL)-TP
  • Tax Payer : Fujitsu India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Adopts Employee cost / Revenue , RPT filter of 15%, extraordinary events like IPO for Societe Generale’s ITES segment

  • In Favour of Both, Partially
  • Citation Number : TS-633-ITAT-2021(Bang)-TP
  • Tax Payer : Societe Generale Global Solution Centre Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes SWD comparables basis extraordinary events, RPT filter given absence of contradictory evidence by Revenue

  • In Favour of Both, Partially
  • Citation Number : TS-631-ITAT-2021(PUN)-TP
  • Tax Payer : SAS Research and Development (India) Private Limited
Income tax Appellate Tribunal

ITAT: Restricts TP addition to AE transactions; Holds payment for setup and maintenance of IT Infrastructure facility as royalty

  • In Favour of Assessee
  • Citation Number : TS-632-ITAT-2021(PUN)-TP
  • Tax Payer : Bekaert Industries Private Limited
Income tax Appellate Tribunal

ITAT: Restores expenditure claim u/s 40A(2), post omission of 92BA(i); Holds person u/s 40A(2) restricted to only beneficial owner

  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2021(Bang)-TP
  • Tax Payer : Sterling Urban Development Pvt. Ltd
High Court

HC: Quashes 271(1)(c) penalty, non-acceptance of assessee's claim does not tantamount to furnishing inaccurate particulars

  • In Favour of Assessee
  • Citation Number : TS-629-HC-2021(DEL)-TP
  • Tax Payer : Giesecks & Devrient (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP determination of Tupperware’s management charges paid; Rejects mere production of agreement & bills

  • In Favour of Both, Partially
  • Citation Number : TS-628-ITAT-2021(DEL)-TP
  • Tax Payer : Tupperware India Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Deletes 271G penalty absent specific pinpointing of documents not maintained, 271AA penalty basis invalid notice

  • In Favour of Assessee
  • Citation Number : TS-627-ITAT-2021(Mum)-TP
  • Tax Payer : Apace Realty
Income tax Appellate Tribunal

ITAT: Allows assessee’s withdrawal of appeal & denies adjudication of Revenue’s appeal, basis India–US MAP

  • In Favour of Assessee
  • Citation Number : TS-626-ITAT-2021(Bang)-TP
  • Tax Payer : Ribbon Communications Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables for IT-services, WIP from non-comparable activity cannot be considered for WCA

  • In Favour of Both, Partially
  • Citation Number : TS-625-ITAT-2021(PUN)-TP
  • Tax Payer : ComputerLand UK Limited
Income tax Appellate Tribunal

ITAT: Accepts inter-unit cost transfers as ALP for Sec-80IC deduction; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-624-ITAT-2021(DEL)-TP
  • Tax Payer : Hero MotoCorp Ltd.
Income tax Appellate Tribunal

ITAT: Holds guarantee fee, interest on foreign currency loan at ALP; Deletes mark-up on pass-through costs

  • In Favour of Assessee
  • Citation Number : TS-623-ITAT-2021(DEL)-TP
  • Tax Payer : SRF Limited
Income tax Appellate Tribunal

ITAT: Rules on various comparables for software development service provider; Excludes seven, includes one, remits one

  • In Favour of Both, Partially
  • Citation Number : TS-622-ITAT-2021(Bang)-TP
  • Tax Payer : Tektronix (India) P Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP-determination for certification services; Rules on comparables for ITES

  • In Favour of Both, Partially
  • Citation Number : TS-621-ITAT-2021(Bang)-TP
  • Tax Payer : UL India Private Ltd