Rulings ( 11978 results )

Filters
Income tax Appellate Tribunal

ITAT: Allows assessee’s appeal withdrawal as entire TP-adjustment deleted in rectification order

  • In Favour of Both, Partially
  • Citation Number : TS-142-ITAT-2019(PUN)-TP
  • Tax Payer : Ubisoft Entertainment India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes AMP-adjustment made applying BLT on protective basis absent statutory mandate; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2019(DEL)-TP
  • Tax Payer : Sony Mobile Communication India Private Limited (now merged with Sony India Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment on commission payment to AE; Follows earlier-orders

  • In Favour of Assessee
  • Citation Number : TS-140-ITAT-2019(Mum)-TP
  • Tax Payer : Hinduja Ventures Limited, (Formerly known as Hinduja TMT Limited)
Income tax Appellate Tribunal

ITAT: Prefers functional over product similarity under TNMM; Approves cash PLI for manufacturer

  • In Favour of Assessee
  • Citation Number : TS-139-ITAT-2019(Kol)-TP
  • Tax Payer : Epcos Ferrites Ltd. (since merged with EpcosIndia Pvt. Ltd)
Income tax Appellate Tribunal

ITAT: Upholds consistently followed TNMM for export-transactions; Rejects CUP citing geographical, quantity differences

  • In Favour of Assessee
  • Citation Number : TS-138-ITAT-2019(Mum)-TP
  • Tax Payer : Glenmark Pharmaceuticals Ltd
Supreme Court

SC: Dismisses Revenue’s SLP; HC had upheld ITAT’s comparables selection following Softbrands ratio

  • In Favour of Assessee
  • Citation Number : TS-137-SC-2019-TP
  • Tax Payer : Citrix R&D India Pvt Ltd
High Court

HC:Admits Goodyear’s appeal; ITAT denied export incentives reduction from cost-base for exports benchmarking

  • In Favour of Assessee
  • Citation Number : TS-136-HC-2019(DEL)-TP
  • Tax Payer : Goodyear India Limited
Income tax Appellate Tribunal

ITAT:Deletes Sec 271(1)(c) penalty considering substantial TP-adjustment reduced in quantum appeal

  • In Favour of Assessee
  • Citation Number : TS-135-ITAT-2019(CHANDI)-TP
  • Tax Payer : Rakhra Technologies P.Ltd
Income tax Appellate Tribunal

ITAT: Excludes Akshay-Software for software developer; Safer to exclude comparable when service nature doubtful

  • In Favour of Assessee
  • Citation Number : TS-134-ITAT-2019(Bang)-TP
  • Tax Payer : MetricStream Infotech (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT:Upholds application of entity level TNMM only to AE-transactions, not entire turnover

  • In Favour of Assessee
  • Citation Number : TS-1449-ITAT-2018(Mum)-TP
  • Tax Payer : Sodexo Food Solutions India Private Limited
Income tax Appellate Tribunal

ITAT: Rules on comparables for Microsoft-India, Excludes companies undertaking R&D for software development

  • In Favour of Both, Partially
  • Citation Number : TS-133-ITAT-2019(DEL)-TP
  • Tax Payer : Microsoft India (R &D) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds internal-CUP for benchmarking SDT of inter-units power transfer; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-132-ITAT-2019(Kol)-TP
  • Tax Payer : Electrosteel Castings Ltd
Income tax Appellate Tribunal

ITAT: Fixes guarantee fee ALP at 0.5%, comfort fee ALP at 0.1%; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-131-ITAT-2019(Mum)-TP
  • Tax Payer : Zee Entertainment Enterprises Limited
High Court

HC: Upholds ITAT-order excluding 3 comparables having different business model/ substantial RPT

  • In Favour of Assessee
  • Citation Number : TS-130-HC-2019(BOM)-TP
  • Tax Payer : Pfizer Limited
Income tax Appellate Tribunal

ITAT: Rejects TPO’s internal-CUP for benchmarking sale transaction absent accurate comparability; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-129-ITAT-2019(Ahd)-TP
  • Tax Payer : Gulbrandsen Chemicals Pvt Ltd
Income tax Appellate Tribunal

ITAT: Prefers assessee’s internal-TNMM over TPO’s internal-CUP for benchmarking sale transaction

  • In Favour of Assessee
  • Citation Number : TS-128-ITAT-2019(Ahd)-TP
  • Tax Payer : Gulbrandsen Chemicals Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds LIBOR based interest-rate for benchmarking AE-loan; Deletes TP-adjustment on corporate guarantee

  • In Favour of Assessee
  • Citation Number : TS-127-ITAT-2019(Mum)-TP
  • Tax Payer : Everest Kanto Cylinder Ltd
Income tax Appellate Tribunal

ITAT: Excludes Accentia, Infosys-BPO, E-Clerx, Cosmic-Global for BPO-service provider; Follows e4e-Business ruling

  • In Favour of Assessee
  • Citation Number : TS-126-ITAT-2019(Bang)-TP
  • Tax Payer : Brady Company India Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal; Upholds aggregated approach under TNMM for benchmarking export, import transactions

  • In Favour of Assessee
  • Citation Number : TS-125-HC-2019(BOM)-TP
  • Tax Payer : Vishay Components India Pvt. Ltd
High Court

HC:Dismisses Revenue’s appeal; Upholds segregation approach citing completely different manufacturing operations

  • In Favour of Assessee
  • Citation Number : TS-1447-HC-2018(DEL)-TP
  • Tax Payer : Beam Global Spirits & Wine India Pvt. Ltd