Rulings ( 11976 results )

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Income tax Appellate Tribunal

ITAT: Excludes Persistent Systems for software developer citing functional dissimilarity though included in TP-study

  • In Favour of Assessee
  • Citation Number : TS-991-ITAT-2019(Bang)-TP
  • Tax Payer : Nvidia Graphics Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rejects share-application money re-characterization as advance/loan considering transaction not sham; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-990-ITAT-2019(Mum)-TP
  • Tax Payer : Voltas Limited
Income tax Appellate Tribunal

ITAT: Excludes 2 government companies as comparables; Follows ThyssenKrupp HC-ruling

  • In Favour of Assessee
  • Citation Number : TS-989-ITAT-2019(Mum)-TP
  • Tax Payer : Siemens Power Engineering Pvt Ltd {Through their successor M/s. Siemens Ltd.,}
Income tax Appellate Tribunal

ITAT: Quashes Sec 263-revision against time-barred assessment order as illegal, bad in law

  • In Favour of Assessee
  • Citation Number : TS-988-ITAT-2019(Mum)-TP
  • Tax Payer : Essar Shipping Limited
Income tax Appellate Tribunal

ITAT: Excludes Infosys and mPhasis for software development & support service provider

  • In Favour of Assessee
  • Citation Number : TS-987-ITAT-2019(DEL)-TP
  • Tax Payer : ALcatel Lucent India Ltd
Income tax Appellate Tribunal

ITAT: Confirms CIT(A)-order restricting TP-adjustment only to international transactions; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-986-ITAT-2019(PUN)-TP
  • Tax Payer : Gestamp Pune Automotive India Pvt Ltd (Formerly known as Sungwoo Gestamp Hitech (Pune) Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT:Sets-aside CIT(A)'s capacity-adjustment denial in second appeal round; Remits issue to TPO

  • In Favour of Assessee
  • Citation Number : TS-985-ITAT-2019(DEL)-TP
  • Tax Payer : EDAG Engineering & Design India Pvt Ltd (Now known as EDAG Production Solutions P. Ltd.)
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on payment of royalty and management Fees; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-984-ITAT-2019(PUN)-TP
  • Tax Payer : Spicer India Private Limited
Income tax Appellate Tribunal

ITAT: Nil ALP-determination amounts to income enhancement; Rejects CIT(A)’s ‘non-appealable’ u/s 246A stand

  • In Favour of Both, Partially
  • Citation Number : TS-983-ITAT-2019(DEL)-TP
  • Tax Payer : Inergy Automotive Systems Manufacturing India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Characterizes CCDs as ‘hybrid-instrument’ in nature of equity, not loan; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-982-ITAT-2019(HYD)-TP
  • Tax Payer : Hyderabad Infratech Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes 4 comparables for consultancy service provider; Stresses on comparability of business activities

  • In Favour of Assessee
  • Citation Number : TS-981-ITAT-2019(DEL)-TP
  • Tax Payer : Veolia India Pvt Ltd [Earlier known as Veolia Water [I] Pvt Ltd
Income tax Appellate Tribunal

ITAT:Excludes Thirdware Solutions for software developer; Deletes TP-adjustment on expenditure reimbursement

  • In Favour of Assessee
  • Citation Number : TS-980-ITAT-2019(Mum)-TP
  • Tax Payer : Ness Technologies (India) Private Limited
Income tax Appellate Tribunal

ITAT: Directs CIT(A) to relook at functionality test and adjudicate afresh on comparables

  • In Favour of Both, Partially
  • Citation Number : TS-979-ITAT-2019(Bang)-TP
  • Tax Payer : Ariba Technologies India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Remits TP-adjustment on engineering services characterized as ITES by TPO; Follows earlier-order

  • In Favour of Both, Partially
  • Citation Number : TS-978-ITAT-2019(Bang)-TP
  • Tax Payer : Continental Automotive Components India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on forex fluctuation on subsidiary-deposits, interest on AE-loans; Follows earlier orders

  • In Favour of Both, Partially
  • Citation Number : TS-977-ITAT-2019(Mum)-TP
  • Tax Payer : The Indian Hotels Company Ltd
Income tax Appellate Tribunal

ITAT: Prefers Internal-CUP over external-CUP for benchmarking SDT of interest payment; Deletes TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-976-ITAT-2019(JPR)-TP
  • Tax Payer : Uttam Bharat Electricals Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on ‘prescribed authority’ for passing TP-order; Rejects plea that Addl.CIT not TPO

  • In Favour of Assessee
  • Citation Number : TS-975-ITAT-2019(DEL)-TP
  • Tax Payer : BBC Worldwide (India) Pvt. Ltd
High Court

HC: Confirms ITAT-order allowing quality adjustment while benchmarking imports, deleting TP-adjustment on technical-fees

  • In Favour of Assessee
  • Citation Number : TS-974-HC-2019(BOM)-TP
  • Tax Payer : Merck Ltd
High Court

HC: Upholds quality adjustment under CUP-method while benchmarking imports; Deletes TP-adjustment on technical fees

  • In Favour of Assessee
  • Citation Number : TS-973-HC-2019(BOM)-TP
  • Tax Payer : Merck Ltd
Income tax Appellate Tribunal

ITAT: Excludes E-clerx, Infosys BPO, having high turnover, for back-office support provider; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-972-ITAT-2019(Bang)-TP
  • Tax Payer : Fulcrum Fund Services (India) Pvt Ltd