Rulings ( 11976 results )

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Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on legal, professional fees payments rejecting benefit-test application

  • In Favour of Assessee
  • Citation Number : TS-650-ITAT-2019(Mum)-TP
  • Tax Payer : Mubea Automotive India Private Limited (known as Mubea Automotive Components India Pvt Ltd)
Income tax Appellate Tribunal

ITAT:Confirms TP-adjustment deletion on seconded employee's salary reimbursement considering evidences submitted

  • In Favour of Both, Partially
  • Citation Number : TS-649-ITAT-2019(Mum)-TP
  • Tax Payer : Thermo Fisher Scientific India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables selection for ITes-provider; Rejects negative working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-648-ITAT-2019(Bang)-TP
  • Tax Payer : FNF India Private Limited (formerly FNF Business Process Outsourcing Services Pvt. Ltd.)
Income tax Appellate Tribunal

ITAT: Excludes merchant bankers as comparable for investment advisor; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-647-ITAT-2019(Mum)-TP
  • Tax Payer : IIML Assets Advisors Ltd
Income tax Appellate Tribunal

ITAT:Remits TP-adjustment in respect of management charges; Follows earlier order

  • In Favour of Both, Partially
  • Citation Number : TS-646-ITAT-2019(Mum)-TP
  • Tax Payer : Aker Powergas Pvt Ltd
Income tax Appellate Tribunal

ITAT: Benchmarking FCCD-interest against bond interest rates, ‘fallacious’; Rejects assessee’s Safe-Harbour Rules reliance

  • In Favour of Both, Partially
  • Citation Number : TS-645-ITAT-2019(DEL)-TP
  • Tax Payer : Red Fort Shahjahan Properties Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal; Upholds DRP’s exclusion of 4 functionally dissimilar comparables

  • In Favour of Both, Partially
  • Citation Number : TS-644-ITAT-2019(DEL)-TP
  • Tax Payer : Open Solutions Software Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Draft assessment order issued along with demand, penalty notices, void-ab-intio; Remits capacity-utilization adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-643-ITAT-2019(PUN)-TP
  • Tax Payer : Skoda Auto India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Excludes Infosys BPO citing high turnover for ITes-provider; Holds expenses write-off as operating

  • In Favour of Assessee
  • Citation Number : TS-642-ITAT-2019(Mum)-TP
  • Tax Payer : Pangea3 Legal Database Systems Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)’s TP-adjustment deletion by applying turnover filter; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-641-ITAT-2019(Ahd)-TP
  • Tax Payer : Schutz Dishman Biotech Ltd
Income tax Appellate Tribunal

ITAT: Directs TP-adjustment exclusion from book profits computation; Rules on comparables for ITeS-provider

  • In Favour of Both, Partially
  • Citation Number : TS-640-ITAT-2019(Mum)-TP
  • Tax Payer : GTS e-Services Private Ltd
High Court

HC: Upholds ITAT-order rejecting recharacterization of share application money as loan; Follows Aegis-ruling

  • In Favour of Assessee
  • Citation Number : TS-639-HC-2019(BOM)-TP
  • Tax Payer : Sterling Oil Resources Ltd
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment on diamonds exports citing +/-5% safe-harbour benefit application; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-637-ITAT-2019(Mum)-TP
  • Tax Payer : Jasani (Formerly known as M/s. Ratilal Becharlal & Sons)
Income tax Appellate Tribunal

ITAT:Adopts TNMM at entity-level; Deletes TP-adjustment on reimbursements without mark-up considering evidence

  • In Favour of Assessee
  • Citation Number : TS-636-ITAT-2019(DEL)-TP
  • Tax Payer : GL Litmus Events Pvt Ltd
Income tax Appellate Tribunal

ITAT: Remits volume discount adjustment issue for fresh adjudication following earlier year order

  • In Favour of Assessee
  • Citation Number : TS-635-ITAT-2019(Ahd)-TP
  • Tax Payer : Erhardt + Leimer (India) Private Limited
Income tax Appellate Tribunal

ITAT: Excludes functionally dissimilar companies & includes comparable following different-FY for investment advisor

  • In Favour of Both, Partially
  • Citation Number : TS-634-ITAT-2019(Mum)-TP
  • Tax Payer : Orbimed Advisors India Private Limited
Income tax Appellate Tribunal

ITAT: Excludes 2 companies applying turnover filter, remits 2, for media analysis services-provider

  • In Favour of Both, Partially
  • Citation Number : TS-633-ITAT-2019(Bang)-TP
  • Tax Payer : Nielsen Sports India Pvt Ltd (Formerly known as Repucom Media Analysis India Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Accepts application of higher turnover filter, excludes 6 comparables; Follows Autodesk ruling

  • In Favour of Assessee
  • Citation Number : TS-632-ITAT-2019(Bang)-TP
  • Tax Payer : Pearson India Support Services Pvt Ltd (formerly known as Global English India Pvt Ltd)
Income tax Appellate Tribunal

ITAT:Deletes concealment-penalty considering assessee’s margin approximate to comparables, post Government companies’ exclusion

  • In Favour of Assessee
  • Citation Number : TS-631-ITAT-2019(Mum)-TP
  • Tax Payer : eBay India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes BLT-based AMP-adjustment citing TPO’s failure to establish existence of international transaction

  • In Favour of Assessee
  • Citation Number : TS-630-ITAT-2019(DEL)-TP
  • Tax Payer : Zimmer India Private Ltd