Rulings ( 11972 results )

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Income tax Appellate Tribunal

ITAT: Rejects TP-adjustment qua import-duty; Remits capacity-utilization adjustment qua personnel-cost

  • In Favour of Both, Partially
  • Citation Number : TS-357-ITAT-2021(DEL)-TP
  • Tax Payer : Keihin Automotive India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Holds corporate guarantee as international transaction; Directs ALP adjustment on actual amount utilised

  • In Favour of Both, Partially
  • Citation Number : TS-356-ITAT-2021(HYD)-TP
  • Tax Payer : Rain Industries Ltd
High Court

HC: Upholds re-assessment despite Form-3CEB disclosure; Overrules Single-Judge ruling placing onus on AO to peruse TP-order

  • In Favour of Revenue
  • Citation Number : TS-359-HC-2021(MAD)-TP
  • Tax Payer : Daimler India Commercial Vehicles Private Limited
High Court

HC: Pardons belated-compliance to delete 271G-penalty, cites TPO's satisfaction; Upholds validity of TPO's notice u/s 92D(3)

  • In Favour of Assessee
  • Citation Number : TS-358-HC-2021(MAD)-TP
  • Tax Payer : SSL-TTK Ltd
Income tax Appellate Tribunal

ITAT: Quashes revisionary-order passed by CIT u/s 263; Discusses interplay of ALP and Sec-40(a) allowance

  • In Favour of Assessee
  • Citation Number : TS-355-ITAT-2021(Bang)-TP
  • Tax Payer : 3M India Limited
Income tax Appellate Tribunal

ITAT: Remits assessee’s functional-characterisation issue back to TPO; Holds berry ratio academic

  • In Favour of Both, Partially
  • Citation Number : TS-354-ITAT-2021(PUN)-TP
  • Tax Payer : Geico Paint Shop India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds benchmarking FCD interest payment using SIBOR rate; Applies rule of consistency

  • In Favour of Revenue
  • Citation Number : TS-352-ITAT-2021(HYD)-TP
  • Tax Payer : Devgen Seeds & Crop Technology Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes penalty-notice as vague/ambiguous; Absence of overt act of suppression eliminates Explanation 7 invocation

  • In Favour of Assessee
  • Citation Number : TS-353-ITAT-2021(DEL)-TP
  • Tax Payer : CLIX Finance India Pvt Ltd
High Court

HC: Quashes TPO-reference made without granting hearing opportunity; Considers TP proceedings an integral part of assessments

  • In Favour of Assessee
  • Citation Number : TS-351-HC-2021(GUJ)-TP
  • Tax Payer : HITACHI HI REL POWER ELECTRONICS PVT LTD
Income tax Appellate Tribunal

ITAT: Directs inclusion of Bodhtree-Consulting citing assesee's failure to demonstrate error in TP-study; Allows working-capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-350-ITAT-2021(DEL)-TP
  • Tax Payer : ST Microelectronics Pvt Ltd
Income tax Appellate Tribunal

ITAT: Treats provision written back as operating, grants working-capital adjustment; Restricts TP-adjustment to AE transaction

  • In Favour of Both, Partially
  • Citation Number : TS-349-ITAT-2021(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motors Private Limited
Income tax Appellate Tribunal

ITAT: Grants conditional stay since case prima-facie in asseesee's favour, Directs payment of 20% outstanding-demand

  • In Favour of Assessee
  • Citation Number : TS-348-ITAT-2021(Bang)-TP
  • Tax Payer : Biesse Manufacturing Co Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits ALP determination for purchase of capital goods; Grants opportunity of being heard to assessee

  • In Favour of Both, Partially
  • Citation Number : TS-347-ITAT-2021(DEL)-TP
  • Tax Payer : ALcatel Lucent India Ltd
Income tax Appellate Tribunal

ITAT: Rejects re-characterization of debentures/CCD as issue of shares; Rules on comparable

  • In Favour of Both, Partially
  • Citation Number : TS-346-ITAT-2021(PUN)-TP
  • Tax Payer : City Corporation Limited
Income tax Appellate Tribunal

ITAT: Remits capacity-utilization adjustment, directs mandatory compliance with DRP-directions; Restricts TP-adjustment to AE- transactions

  • In Favour of Assessee
  • Citation Number : TS-345-ITAT-2021(PUN)-TP
  • Tax Payer : Francois Compressors India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Adjudicates on various tax and TP issues for Cadila-Healthcare; Deletes TP-adjustments, Rs.142Cr. partner's remuneration

  • In Favour of Both, Partially
  • Citation Number : TS-344-ITAT-2021(Ahd)-TP
  • Tax Payer : Cadila Healthcare Limited
Income tax Appellate Tribunal

ITAT: Rejects TPO’s re-characterization of debentures/CCD as issue of shares, remits ALP-computation; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-343-ITAT-2021(PUN)-TP
  • Tax Payer : City Corporation Limited
Income tax Appellate Tribunal

ITAT: Denies negative working capital adjustment for captive-service-provider; Includes Crystal Voxx as comparable

  • In Favour of Assessee
  • Citation Number : TS-342-ITAT-2021(Bang)-TP
  • Tax Payer : Encora Innovation India Private Limited (Formerly known as Indecomm Global Services (India) Private Limited)
Income tax Appellate Tribunal

ITAT: Excludes 10 and includes 3 comparables for captive software developer, follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-341-ITAT-2021(DEL)-TP
  • Tax Payer : ALcatel Lucent India Ltd
Income tax Appellate Tribunal

ITAT: Directs deletion of AMP-adjustment given higher margins earned from AE transactions; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-340-ITAT-2021(DEL)-TP
  • Tax Payer : Haier Appliances (India) Pvt Ltd