Rulings ( 11975 results )

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Income tax Appellate Tribunal

ITAT:TP-provisions inapplicable to income covered under tonnage tax scheme, deletes TP-adjustments

  • In Favour of Assessee
  • Citation Number : TS-237-ITAT-2020(Mum)-TP
  • Tax Payer : Essar Shipping Ltd
Income tax Appellate Tribunal

ITAT:Disapproves ‘cherry picking’ comparables without understanding assessee’s business model; Sets aside issue

  • In Favour of Both, Partially
  • Citation Number : TS-236-ITAT-2020(Bang)-TP
  • Tax Payer : Ingersoll Rand (India) Ltd
Income tax Appellate Tribunal

ITAT: Rejects TPO’s PSM for Royalty ALP-determination absent AE's role in assessee's profit making

  • In Favour of Assessee
  • Citation Number : TS-235-ITAT-2020(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt Ltd
Income tax Appellate Tribunal

ITAT:Rejects HO's engineering-support functional characterization for Project-Office providing merely business support services

  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2020(DEL)-TP
  • Tax Payer : Hyundai Rotem Company
Income tax Appellate Tribunal

ITAT:Remits entire TP-matter back to DRP for passing speaking and reasoned order

  • In Favour of Assessee
  • Citation Number : TS-224-ITAT-2020(Bang)-TP
  • Tax Payer : Puma Sports India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 8 comparables for software-development, sales/marketing support segments; Follows Electronic Imaging ruling

  • In Favour of Both, Partially
  • Citation Number : TS-223-ITAT-2020(Bang)-TP
  • Tax Payer : Infinera India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Retains 2, excludes 1 comparable for non–binding investment advisor; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-222-ITAT-2020(Mum)-TP
  • Tax Payer : Clearwater Capital Partners India Pvt Ltd (Earlier known as Altico Capital India Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Excludes 7 comparables for NetScout; Cites unavailability of segmental information, functional dissimilarity etc.

  • In Favour of Assessee
  • Citation Number : TS-221-ITAT-2020(Bang)-TP
  • Tax Payer : Net Scout Systems Software India Private Limited
Income tax Appellate Tribunal

ITAT: Directs adoption of applicable LIBOR to benchmark interest free AE-loan; Follows Vaibhav Gems

  • In Favour of Assessee
  • Citation Number : TS-220-ITAT-2020(Ahd)-TP
  • Tax Payer : Amol Dicalite Limited
Income tax Appellate Tribunal

ITAT: Sony's channel-distribution fee payment not ‘royalty’ absent rights on content broadcasted

  • In Favour of Assessee
  • Citation Number : TS-219-ITAT-2020(Mum)-TP
  • Tax Payer : Sony Pictures Networks India Pvt Ltd [Successor of MSM Discovery (P) Ltd]
High Court

HC: Dismisses Revenue’s appeal against ITAT order on AMP-adjustment; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-218-HC-2020(DEL)-TP
  • Tax Payer : Valvoline Cummins Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec.271G-penalty for diamond trader considering sufficient compliance of TP-provisions

  • In Favour of Assessee
  • Citation Number : TS-217-ITAT-2020(Mum)-TP
  • Tax Payer : Decent Dia jewels Pvt Ltd
Income tax Appellate Tribunal

ITAT: Directs AO to adopt 0.92 as corporate guarantee ALP; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-216-ITAT-2020(HYD)-TP
  • Tax Payer : Sutherland Healthcare Solutions Private Limited (Formerly known as Apollo Health Street Ltd
Income tax Appellate Tribunal

ITAT:Directs fresh comparability analysis adopting RPM as MAM in trading-segment; Follows earlier-orders

  • In Favour of Both, Partially
  • Citation Number : TS-215-ITAT-2020(Bang)-TP
  • Tax Payer : Avnet India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes reassessment based on invalid TP-order, non-adherence to DRP’s binding directions

  • In Favour of Assessee
  • Citation Number : TS-214-ITAT-2020(Kol)-TP
  • Tax Payer : Nomura Research Institute Financial Technologies India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes Motilal Oswal, ICRA Online for non–binding investment advisory provider citing functional-dissimilarity

  • In Favour of Assessee
  • Citation Number : TS-213-ITAT-2020(Mum)-TP
  • Tax Payer : Khazanah India Advisors Pvt Ltd
Income tax Appellate Tribunal

ITAT: Interest on outstanding AE-receivables, payables to be considered for ALP-determination; Follows Kony-ruling

  • In Favour of Assessee
  • Citation Number : TS-212-ITAT-2020(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Private Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables for assessee’s system integration division citing functional-dissimilarity, persistent losses

  • In Favour of Both, Partially
  • Citation Number : TS-211-ITAT-2020(PUN)-TP
  • Tax Payer : Honeywell Automation India Limited
Income tax Appellate Tribunal

ITAT: Excludes 5, remits 1 comparable for software developer, follows precedents; Remits working-capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-210-ITAT-2020(PUN)-TP
  • Tax Payer : FIS Solutions (India) Private Limited Formerly known as SunGard Solutions (India) Private Limited
Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment, remits selection of foreign-AE as tested party for Nivea India

  • In Favour of Both, Partially
  • Citation Number : TS-209-ITAT-2020(Mum)-TP
  • Tax Payer : Nivea India Private Limited