Rulings ( 11978 results )

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Income tax Appellate Tribunal

ITAT: Deletes Sec-271G penalty, cites difficulties in maintenance of documents in diamond-trade industry

  • In Favour of Assessee
  • Citation Number : TS-364-ITAT-2019(Mum)-TP
  • Tax Payer : Amore Jewels P Ltd
Income tax Appellate Tribunal

ITAT: Confirms deletion of royalty-adjustment; Accepts RBI/SIA approval rates for benchmarking following precedents

  • In Favour of Assessee
  • Citation Number : TS-362-ITAT-2019(Mum)-TP
  • Tax Payer : Netafim Irrigation India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Remits characterization of assessee’s engineering design services; Follows Flowserve India ruling

  • In Favour of Assessee
  • Citation Number : TS-361-ITAT-2019(Bang)-TP
  • Tax Payer : Goodrich Aerospace Services Pvt Ltd
High Court

HC: Upholds Sec 271(1)(c)-penalty deletion; AO’s ‘hindsight’ approach in taxing un+rec-eived amounts ‘debatable’ issue

  • In Favour of Assessee
  • Citation Number : TS-360-HC-2019(DEL)-TP
  • Tax Payer : ROYAL AND SUN ALLIANCES IT SOLUTIONS (INDIA) PVT LTD
Income tax Appellate Tribunal

ITAT: Allows capacity-utilisation in 2nd operational year; Restricts TP-adjustment on purchases to raw-materials consumed

  • In Favour of Assessee
  • Citation Number : TS-359-ITAT-2019(DEL)-TP
  • Tax Payer : Terex India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Dismisses assessee’s appeal in view of resolution of TP-issue under unilateral-APA

  • In Favour of Assessee
  • Citation Number : TS-358-ITAT-2019(Bang)-TP
  • Tax Payer : First Advantage Global Operating Centre Pvt Ltd (Formerly known as First Advantage Offshore Services Pvt. Ltd.,)
Income tax Appellate Tribunal

ITAT: Remits ALP-determination of AE-loan following precedent; Remits issue of Sec 92CA(3)-order validity

  • In Favour of Both, Partially
  • Citation Number : TS-357-ITAT-2019(Mum)-TP
  • Tax Payer : Tata Motors Ltd
High Court

HC:Allows McKinsey India’s review-petition; Recalls order on R&D service characterization, outstanding AE-receivables TP-adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-356-HC-2019(DEL)-TP
  • Tax Payer : MCKINSEY KNOWLEDGE CENTRE INDIA PVT. LTD
Income tax Appellate Tribunal

ITAT:Honda-Japan not AE of Hero Moto Corp; Model-fee, royalty payment consequently not 'international transaction'

  • In Favour of Assessee
  • Citation Number : TS-354-ITAT-2019(DEL)-TP
  • Tax Payer : Hero Moto Corp Ltd.
Income tax Appellate Tribunal

ITAT:Adopts RPM over TNMM for benchmarking purchase transaction; Remits subvention charges benchmarking

  • In Favour of Assessee
  • Citation Number : TS-353-ITAT-2019(Bang)-TP
  • Tax Payer : Citizen Watches (India) P Ltd
Income tax Appellate Tribunal

ITAT: Directs assessee to substantiate CUP-evidence for exports/imports; Functional analysis key for comparables-selection

  • In Favour of Assessee
  • Citation Number : TS-352-ITAT-2019(DEL)-TP
  • Tax Payer : Noble Resources & Training India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Upholds internal-TNMM for technical/consultancy services considering similar FAR for AE, non-AE segments

  • In Favour of Assessee
  • Citation Number : TS-351-ITAT-2019(DEL)-TP
  • Tax Payer : BCEOM (India)P Ltd (Now known as Egis India Consulting Engineers Pvt. Ltd)
Income tax Appellate Tribunal

ITAT:Restores ALP-determination of royalty, technical fee, design/drawing fee; Follows earlier orders

  • In Favour of Assessee
  • Citation Number : TS-350-ITAT-2019(DEL)-TP
  • Tax Payer : Munjal Showa Ltd
Income tax Appellate Tribunal

ITAT:Admits additional ground; Quashes assessment framed on non-existent company, follows precedents

  • In Favour of Assessee
  • Citation Number : TS-349-ITAT-2019(Kol)-TP
  • Tax Payer : Akzo Nobel Coatings India Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on sale of drugs, interest on OFCD, corporate-guarantee; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-348-ITAT-2019(Ahd)-TP
  • Tax Payer : Sun Pharmaceuticals Industries Ltd
Income tax Appellate Tribunal

ITAT:Rejects foreign AE as tested party absent 'statutory sanction'; Grants depreciation adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-347-ITAT-2019(PUN)-TP
  • Tax Payer : Bekaert Industries Private Limited
Income tax Appellate Tribunal

ITAT:Dismisses Revenue’s appeal as infructuous considering assessment sans draft-order void-ab-initio

  • In Favour of Assessee
  • Citation Number : TS-345-ITAT-2019(DEL)-TP
  • Tax Payer : Rolls Royce India P Ltd
Income tax Appellate Tribunal

ITAT:Remits MAM-selection for SDT relating to raw-material purchase absent adjudication by DRP

  • In Favour of Assessee
  • Citation Number : TS-344-ITAT-2019(Bang)-TP
  • Tax Payer : Sura Leathers Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-addition on expense reimbursement absent application of prescribed TP-method; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-343-ITAT-2019(Mum)-TP
  • Tax Payer : Wartsila India Private Limited (Formerly known as “Wartsila India Limited)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on outstanding AE-receivables, corporate guarantee; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-342-ITAT-2019(VIZ)-TP
  • Tax Payer : CCL Products (India) Pvt Ltd