Updates ( 9006 results )

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HC: Dismisses Revenue’s appeal qua TP-adjustment for management fees sans substantial question of law; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-260-HC-2023(CAL)-TP
  • Tax Payer : Landis GYR

ITAT: Deletes AMP-adjustment for L’oreal India absent international-transaction, applies rule of consistency

  • In Favour of Assessee
  • Citation Number : TS-262-ITAT-2023(Mum)-TP
  • Tax Payer : L’Oreal India Pvt Ltd

ITAT: Determines corporate-guarantee commission @ 0.5%, fixes interest on delayed receivables @ 6%

  • In Favour of Both, Partially
  • Citation Number : TS-261-ITAT-2023(HYD)-TP
  • Tax Payer : Aurobindo Pharma Ltd.

ITAT: Accepts ERP implementation cost at ALP, rejects ‘Nil’ ALP; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-257-ITAT-2023(Mum)-TP
  • Tax Payer : Ciba India Ltd.

ITAT: Upholds ALP interest on outbound loan basis currency of repayment; Restricts guarantee commission at 0.53%

  • In Favour of Assessee
  • Citation Number : TS-258-ITAT-2023(HYD)-TP
  • Tax Payer : GKC Projects Limited

ITAT: Quashes TPO’s order being time barred by a day, holds assessee ‘ineligible’; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-259-ITAT-2023(Mum)-TP
  • Tax Payer : World Sport Group Pvt Ltd

ITAT: Deletes adhoc adjustment qua management-services sans prescribed method; Remits bank guarantee adjustment plea

  • In Favour of Both, Partially
  • Citation Number : TS-254-ITAT-2023(Mum)-TP
  • Tax Payer : Kongsberg Maritime CM India Pvt Ltd

ITAT: Directs assessee to demonstrate requisite tests for IGS, remits TP-adjustment following earlier order

  • In Favour of Assessee
  • Citation Number : TS-255-ITAT-2023(Mum)-TP
  • Tax Payer : Ingredion India Pvt Ltd

ITAT: Upholds Revenue's benchmarking of interest on FCCDs @ LIBOR+200bps, follows Watermarke ruling

  • In Favour of Revenue
  • Citation Number : TS-256-ITAT-2023(HYD)-TP
  • Tax Payer : Fairfield Developments Limited

ITAT: Determines ALP at Nil for IGS, citing assessee’s failure to demonstrate need and receipt of such services

  • In Favour of Revenue
  • Citation Number : TS-251-ITAT-2023(CHNY)-TP
  • Tax Payer : International Flavours Fragrances India Pvt Ltd

ITAT: Dismisses assessee’s TP related appeal in view of MAP resolution

  • In Favour of Both, Partially
  • Citation Number : TS-252-ITAT-2023(Bang)-TP
  • Tax Payer : Intuit India Product Development Centre Pvt Ltd

ITAT: Upholds TNMM as MAM, dismisses ‘Nil’ ALP of brand/ management fee; Follows Precedents

  • In Favour of Assessee
  • Citation Number : TS-253-ITAT-2023(Kol)-TP
  • Tax Payer : Apollo Gleneagles Hospitals Ltd

ITAT: Observes ‘inherent inconsistency’ in comparability analysis qua advertising services; Directs fresh comparability analysis

  • In Favour of Both, Partially
  • Citation Number : TS-248-ITAT-2023(Mum)-TP
  • Tax Payer : Publicis Communication P Ltd

ITAT: Deletes TP-adjustment qua procurement cost citing acceptance of mirror transaction for AE; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-249-ITAT-2023(Mum)-TP
  • Tax Payer : Tecnimont SPA India Office

ITAT: Admits additional ground, quashes TPO's and final assessment orders being barred by limitation

  • In Favour of Assessee
  • Citation Number : TS-250-ITAT-2023(Mum)-TP
  • Tax Payer : Bristol-Myers Squibb India Private Limited

ITAT: Quashes TPO’s order, final assessment order being barred by limitation; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-247-ITAT-2023(Mum)-TP
  • Tax Payer : Colgate-Palmolive (India) Limited

ITAT: Deletes TP-adjustment on SDT given omission of Sec.92BA(i); Refuses remand of Sec.40A(2)(b)-applicability issue

  • In Favour of Assessee
  • Citation Number : TS-246-ITAT-2023(Mum)-TP
  • Tax Payer : Tranztar Commercial Vehicle Applications Limited

ITAT: Directs deletion of TP-addition qua reimbursement of expenses if not a P&L item, Upholds guarantee fee at 0.53%

  • In Favour of Both, Partially
  • Citation Number : TS-244-ITAT-2023(HYD)-TP
  • Tax Payer : Ocimum Bio Solutions (I) Ltd

ITAT: Holds assessee's main activity marketing, not distribution; Remits comparables' selection to CIT(A)

  • In Favour of Both, Partially
  • Citation Number : TS-245-ITAT-2023(PUN)-TP
  • Tax Payer : Hexagon Manufacturing Intelligence India Private Limited (Formerly known as MSC Software Corporation India Private Limited)

ITAT: Deletes TP adjustment qua transfer of captive power between units; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-241-ITAT-2023(RAI)-TP
  • Tax Payer : Godawari Power and Ispat Ltd