Rulings ( 11972 results )

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High Court

HC: Sets aside final assessment-order and all subsequent actions arising therefrom; DRP directions not received

  • In Favour of Assessee
  • Citation Number : TS-481-HC-2021(CAL)-TP
  • Tax Payer : Lexmark International (India) Pvt. Limited
High Court

HC: Allows assessee’s writ; Condones assessee’s delay in filing objections before DRP

  • In Favour of Assessee
  • Citation Number : TS-480-HC-2021(BOM)-TP
  • Tax Payer : Prothious Engineering Services Private Limited
Income tax Appellate Tribunal

ITAT: Allows assessee’s MA; Deletes TP adjustment pertaining to interest on receivables

  • In Favour of Assessee
  • Citation Number : TS-478-ITAT-2021(HYD)-TP
  • Tax Payer : HBL Power Systems Limited
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s Sec 271G penalty deletion for diamond merchant; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-479-ITAT-2021(Mum)-TP
  • Tax Payer : Dharmanandan Diamonds (P) Ltd
Income tax Appellate Tribunal

ITAT: Regards corporate-guarantee as international-transaction; Follows non-jurisdictional HC decision over assessee’s own case

  • In Favour of Both, Partially
  • Citation Number : TS-475-ITAT-2021(Mum)-TP
  • Tax Payer : Siro Clinpharm Private Limited
Income tax Appellate Tribunal

ITAT: Rules on selection of comparables for software developer; Grants working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-476-ITAT-2021(Bang)-TP
  • Tax Payer : EIT Services India Pvt. Ltd. (formerly known as Hewlett Packard Global Soft Pvt. Ltd.
Income tax Appellate Tribunal

ITAT: Holds TNMM as MAM for closely linked export and import transaction; Remits capacity utilization adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-473-ITAT-2021(Bang)-TP
  • Tax Payer : Wieland Metals India Private Ltd
Income tax Appellate Tribunal

ITAT: Rejects re-characterization of assessee’s support services as trading activity; Deletes TP adjustment

  • In Favour of Assessee
  • Citation Number : TS-474-ITAT-2021(DEL)-TP
  • Tax Payer : Ikea Services India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds re-classification of merchandising trade as finance arrangement, directs re-computation of TP-adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-477-ITAT-2021(DEL)-TP
  • Tax Payer : Louis Dreyfus Commodities India Pvt Ltd
High Court

HC: Analyses DRP's powers on income-enhancement not proposed in draft-order; Dismisses assessee's writ

  • In Favour of Assessee
  • Citation Number : TS-472-HC-2021(MAD)-TP
  • Tax Payer : Delphi TVS Diesel Systems Ltd
Income tax Appellate Tribunal

ITAT: Upholds application of credit BB rating for benchmarking AE-interest received; Distinguishes Bharti Airtel

  • In Favour of Revenue
  • Citation Number : TS-468-ITAT-2021(DEL)-TP
  • Tax Payer : Uniparts India Ltd
Income tax Appellate Tribunal

ITAT: Grants stay-extension of 3 months; Delay in appeal disposal not attributable to assessee

  • In Favour of Assessee
  • Citation Number : TS-470-ITAT-2021(CHNY)-TP
  • Tax Payer : Hyundai Motor India Ltd
Income tax Appellate Tribunal

ITAT: Grants conditional stay of 2 months; Assessee to not seek adjournment unless necessary

  • In Favour of Assessee
  • Citation Number : TS-469-ITAT-2021(CHNY)-TP
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Draft order u/s 144C mandatory even for remand cases, dismisses Revenue’s appeal; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-466-ITAT-2021-TP
  • Tax Payer : Sumitomo Corporation India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds Headquarter Services and Technical Consultancy Services as IGS, not stewardship-services; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-465-ITAT-2021(PUN)-TP
  • Tax Payer : Nalco Water India Limited
Income tax Appellate Tribunal

ITAT: Upholds assessee’s aggregation under TNMM for benchmarking AE-payments; TPO to finalize consequential computation

  • In Favour of Both, Partially
  • Citation Number : TS-467-ITAT-2021(HYD)-TP
  • Tax Payer : Zuari Cement Limited
Income tax Appellate Tribunal

ITAT: Classifies Headquarter Services and Technical Consultancy Services as IGS, not stewardship services

  • In Favour of Assessee
  • Citation Number : TS-464-ITAT-2021(PUN)-TP
  • Tax Payer : Nalco Water India Limited
Income tax Appellate Tribunal

ITAT: Upholds applicability of DRP-route to AY 2010-11; Quashes order for want of JCIT's jurisdiction

  • In Favour of Both, Partially
  • Citation Number : TS-463-ITAT-2021(DEL)-TP
  • Tax Payer : Jindal Steel & Power Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables for software-developer; Restores working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-459-ITAT-2021(Mum)-TP
  • Tax Payer : NortonLifeLock Software Solutions Private Ltd
Income tax Appellate Tribunal

ITAT: Grants stay of six months; Considers assessee’s willingness to pay 20% of disputed tax

  • In Favour of Assessee
  • Citation Number : TS-458-ITAT-2021(CHNY)-TP
  • Tax Payer : Hyundai Motor India Ltd