Rulings ( 11975 results )

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Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed sans draft-order in remand proceedings; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-208-ITAT-2020(Bang)-TP
  • Tax Payer : CISCO Systems Capital (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes 271(1)(c)-penalty; Adjustments arising from comparable-selection, PLI-selection doesn’t tantamount to concealment

  • In Favour of Assessee
  • Citation Number : TS-207-ITAT-2020(DEL)-TP
  • Tax Payer : Tianjin Tianshi India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Accepts 0.25 corporate guarantee fee charged to AE as ALP; Deletes TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-205-ITAT-2020(DEL)-TP
  • Tax Payer : SRF Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on intra-group services, outstanding AE-receivables; Rules on comparables

  • In Favour of Both, Partially
  • Citation Number : TS-204-ITAT-2020(DEL)-TP
  • Tax Payer : AT Kearney Ltd – India Branch
Foreign Court

FC: Nigerian Tribunal adopts TNMM for benchmarking AE-imports, with gross profit margin as PLI

  • In Favour of Revenue
  • Citation Number : TS-732-FC-2020(NIG)-TP
  • Tax Payer : Prime Plastichem Nigeria Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on reimbursement; Deciding whether assessee can incur expenditure, beyond TPO’s domain

  • In Favour of Assessee
  • Citation Number : TS-203-ITAT-2020(DEL)-TP
  • Tax Payer : Marathon Electric India (P) Ltd
Income tax Appellate Tribunal

ITAT: Dismisses appeal considering TP-adjustment on software services resolved under India-US MAP

  • In Favour of Both, Partially
  • Citation Number : TS-202-ITAT-2020(Bang)-TP
  • Tax Payer : Texas Instruments (India) Private Limited
Income tax Appellate Tribunal

ITAT: Confirms TP-adjustment deletion considering TPO’s failure to correct computational errors as earlier directed

  • In Favour of Assessee
  • Citation Number : TS-201-ITAT-2020(Ahd)-TP
  • Tax Payer : Collwell and Salmon Communication (India) Ltd
Foreign Court

FC: Swedish Tax Agency characterizes Puma as limited risk distributor, upholds TP-adjustment; Follows OECD-Guidelines

  • In Favour of Revenue
  • Citation Number : TS-1259-FC-2019(SWD)-TP
  • Tax Payer : Puma Nordiac AB
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on salary-reimbursement of seconded employees absent comparability-analysis under Chapter X

  • In Favour of Assessee
  • Citation Number : TS-200-ITAT-2020(Mum)-TP
  • Tax Payer : General Motors Overseas Corporation
Income tax Appellate Tribunal

ITAT: Adopts HO’s transaction with third party as CUP; Deletes TP-adjustment following precedent

  • In Favour of Assessee
  • Citation Number : TS-199-ITAT-2020(Ahd)-TP
  • Tax Payer : Shandong Tiejun Electric Power Engineering Company Ltd
Income tax Appellate Tribunal

ITAT: Excludes 2 comparables citing functional dissimilarity, high turnover for software developer

  • In Favour of Assessee
  • Citation Number : TS-198-ITAT-2020(PUN)-TP
  • Tax Payer : Capgemini Technology Services India Limited (Earlier known as iGATE Global Solutions Ltd.)
Income tax Appellate Tribunal

ITAT:Deletes management fees TP-adjustment considering assessee’s suo-moto addition incorporating it in import transaction

  • In Favour of Assessee
  • Citation Number : TS-197-ITAT-2020(PUN)-TP
  • Tax Payer : Walter Tools India Private Limited
Income tax Appellate Tribunal

ITAT:DRP-proceedings cannot be equalized with appeal pendency; Quashes TPO-reference citing Instruction 3/2016 contravention

  • In Favour of Assessee
  • Citation Number : TS-196-ITAT-2020(PUN)-TP
  • Tax Payer : Sava Healthcare Limited
Income tax Appellate Tribunal

ITAT:Dismisses assessee, Revenue’s appeal considering resolution under India-US MAP

  • In Favour of Assessee
  • Citation Number : TS-195-ITAT-2020(DEL)-TP
  • Tax Payer : CH2M Hill (Pvt.) Ltd
Income tax Appellate Tribunal

ITAT: Deletes Sec. 271(1)(c)-penalty; Holds TP-adjustment on interest free AE-loans, 'debatable' issue

  • In Favour of Assessee
  • Citation Number : TS-194-ITAT-2020(Mum)-TP
  • Tax Payer : Reliance Industries Ltd
Income tax Appellate Tribunal

ITAT: Adopts LIBOR over PLR for benchmarking delayed payments from non-resident to assessee

  • In Favour of Assessee
  • Citation Number : TS-193-ITAT-2020(CHNY)-TP
  • Tax Payer : Verizon Data Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on salary reimbursement of seconded employees considering TPO’s adhoc mark-up

  • In Favour of Assessee
  • Citation Number : TS-192-ITAT-2020(Mum)-TP
  • Tax Payer : GlaxoSmithKline Pharmaceuticals Limited
Income tax Appellate Tribunal

ITAT: Allows working-capital adjustment; Rejects Revenue’s ‘unavailability of daily data’ stand, follows E-Valueserve ruling

  • In Favour of Assessee
  • Citation Number : TS-191-ITAT-2020(Bang)-TP
  • Tax Payer : Yahoo Software Development India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Negative lien provision cannot be equated with guarantee; Fixes ALP at 0.25%

  • In Favour of Both, Partially
  • Citation Number : TS-190-ITAT-2020(Mum)-TP
  • Tax Payer : Essar Shipping Ltd