Rulings ( 11976 results )

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Supreme Court

SC:Dismisses assessee’s review petition; Rejects low-tax effect plea when TP-issue already remanded

  • In Favour of Revenue
  • Citation Number : TS-46-SC-2020-TP
  • Tax Payer : S.G. Asia Holdings (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Restores TP-issue for fresh adjudication considering hearing opportunity not given to assessee

  • In Favour of Both, Partially
  • Citation Number : TS-45-ITAT-2020(Mum)-TP
  • Tax Payer : Maari Multi-trading Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Denies res-judicata principle applicability for different AYs, cites varying FAR analysis for each year

  • In Favour of Both, Partially
  • Citation Number : TS-44-ITAT-2020(Mum)-TP
  • Tax Payer : Roche Diagnostics India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rejects CIT(A)’s adoption of WDV as ALP for benchmarking machinery sale; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-43-ITAT-2020(Ahd)-TP
  • Tax Payer : Panasonic Energy India Co. Ltd
Income tax Appellate Tribunal

ITAT: Allows exclusion of comparable proposed in TP-study; Cites functional dissimilarity, fluctuating profit-margins

  • In Favour of Assessee
  • Citation Number : TS-42-ITAT-2020(Mum)-TP
  • Tax Payer : Western Union Services India Private Ltd
Income tax Appellate Tribunal

ITAT:Remits TP-adjustment on imports, directs assessee to file contemporaneous documents

  • In Favour of Both, Partially
  • Citation Number : TS-1242-ITAT-2019(DEL)-TP
  • Tax Payer : Shivka Trading Pvt. Limited
Income tax Appellate Tribunal

ITAT: Excludes comparables for captive software provider, cites functional-dissimilarity, turnover-filter failure

  • In Favour of Assessee
  • Citation Number : TS-41-ITAT-2020(Mum)-TP
  • Tax Payer : Xoriant Solutions Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables citing functional-dissimilarity, RPT-filter failure for software developer; Remits working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-40-ITAT-2020(Bang)-TP
  • Tax Payer : Sling Media Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Whirlpool’s AMP-adjustment considering expenses not incurred for AE’s brand promotion; Follows HC-ratio

  • In Favour of Assessee
  • Citation Number : TS-39-ITAT-2020(DEL)-TP
  • Tax Payer : Whirlpool of India Ltd
Income tax Appellate Tribunal

ITAT:AO’s ALP-determination sans TPO-reference unsustainable, cites Instruction No.3/2003; Deletes TP-addition on intra-group services

  • In Favour of Assessee
  • Citation Number : TS-38-ITAT-2020(DEL)-TP
  • Tax Payer : Arkadin Confer India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Restricts corporate guarantee ALP to 0.5%; Follows Everest Kanto ruling

  • In Favour of Assessee
  • Citation Number : TS-37-ITAT-2020(Mum)-TP
  • Tax Payer : Greaves Cotton Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment citing RBI-approval as valid benchmark for royalty payments; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-36-ITAT-2020(Kol)-TP
  • Tax Payer : Sika India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on interest on AE-loan and corporate guarantee commission

  • In Favour of Assessee
  • Citation Number : TS-35-ITAT-2020(Mum)-TP
  • Tax Payer : Hindustan Construction Co Ltd
Income tax Appellate Tribunal

ITAT: DRP-proceedings initiation renders AO/TPO 'functus officio'; Rejects deviation from draft-order sans DRP-direction

  • In Favour of Assessee
  • Citation Number : TS-34-ITAT-2020(PUN)-TP
  • Tax Payer : Koso India Private Limited
Income tax Appellate Tribunal

ITAT: Restores 2 comparables to examine satisfaction of RPT-filter for investment advisor

  • In Favour of Both, Partially
  • Citation Number : TS-33-ITAT-2020(Mum)-TP
  • Tax Payer : Altico Capital India Private Limited
Income tax Appellate Tribunal

ITAT:Admits additional ground; Quashes final orders passed sans draft orders for JV-partners

  • In Favour of Assessee
  • Citation Number : TS-32-ITAT-2020(CTK)-TP
  • Tax Payer : ARSS Atalanta JV
Income tax Appellate Tribunal

ITAT: Rejects comparables exclusion on loss-making ground sans prior-years’ examination as per Rule 10B(4)

  • In Favour of Both, Partially
  • Citation Number : TS-31-ITAT-2020(Bang)-TP
  • Tax Payer : PUMA India Corporate Services Private Limited
Income tax Appellate Tribunal

ITAT:Disallows re-characterization of capital infusion into subsidiary as AE-loan, cites OECD guidelines

  • In Favour of Assessee
  • Citation Number : TS-30-ITAT-2020(DEL)-TP
  • Tax Payer : Jaypee Capital Services Ltd
Income tax Appellate Tribunal

ITAT: Differentiates between product-promotion and brand-building; Deletes channel distributor's AMP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-29-ITAT-2020(Mum)-TP
  • Tax Payer : NGC Network (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment for distributor assessee as brand-promotion expense nearly equal to comparables

  • In Favour of Assessee
  • Citation Number : TS-28-ITAT-2020(Mum)-TP
  • Tax Payer : Brother International (India) Pvt. Ltd