Updates ( 9016 results )

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ITAT: Rules on comparables for SWD; Excludes eight, includes one

  • In Favour of Both, Partially
  • Citation Number : TS-27-ITAT-2022(Bang)-TP
  • Tax Payer : M/s Infor(Bangalore) Pvt Ltd (Previously Softbrands India Private Ltd., now merged with Infor India Private Ltd.)

ITAT: Quashes draft re-assessment order passed in violation of Sec 144C, Follows Vijay Television

  • In Favour of Assessee
  • Citation Number : TS-28-ITAT-2022(Bang)-TP
  • Tax Payer : Cisco Systems Services B.V. (India Branch)

ITAT: Deletes TP adjustment on medical equipment; Remits adjustment on outstanding receivables

  • In Favour of Both, Partially
  • Citation Number : TS-25-ITAT-2022(DEL)-TP
  • Tax Payer : DHR Holding India Pvt Ltd

ITAT: Rules on comparables for SWD and ITeS segments; Holds forex gain/loss as operating in nature

  • In Favour of Both, Partially
  • Citation Number : TS-24-ITAT-2022(Bang)-TP
  • Tax Payer : Arctern Consulting Pvt Ltd

HC: Dismisses writ challenging assessment-order passed during pendency of NCLT-proceedings; Directs adjudication on merits by CIT(A)

  • In Favour of Revenue
  • Citation Number : TS-712-HC-2021(MAD)-TP
  • Tax Payer : Coastal Engergy Private Limited

ITAT: Quashes Sec 263 order, holds SDT non reference not prejudicial; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-23-ITAT-2022(NAG)-TP
  • Tax Payer : Automark Industries (India) Pvt Ltd

ITAT: Rules on Support Services' comparables, remits working capital adjustment; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-20-ITAT-2022(DEL)-TP
  • Tax Payer : Honda R & D (India) Pvt Ltd

ITAT: Rejects TPO-reference for SDT-applicability; Upholds SEB rates for steam/ electricity transfer

  • In Favour of Both, Partially
  • Citation Number : TS-21-ITAT-2022(DEL)-TP
  • Tax Payer : Shahi Exports Pvt Ltd

ITAT: Dismisses Revenue’s cryptic and non-specific grounds; Keeps option to file specific grounds open

  • In Favour of Assessee
  • Citation Number : TS-22-ITAT-2022(DEL)-TP
  • Tax Payer : ALcatel Lucent India Ltd

ITAT: Applies upper turnover filter, Directs selection of comparables having turnover of 1-200 crores; Follows precedent

  • In Favour of Both, Partially
  • Citation Number : TS-19-ITAT-2022(Bang)-TP
  • Tax Payer : Cenduit (India) Services Pvt Ltd

ITAT: Upholds ALP of inter-unit electricity transfer basis third-party market rate, follows precedent

  • In Favour of Assessee
  • Citation Number : TS-18-ITAT-2022(Ahd)-TP
  • Tax Payer : Vishal Fabrics Ltd

HC: Dismisses Revenue’s appeal considering low tax effect; Keeps comparability and 14A issue live

  • In Favour of Assessee
  • Citation Number : TS-688-HC-2021(MAD)-TP
  • Tax Payer : Igarashi Motors India Ltd

ITAT: Disapproves CIT(A)’s selective reliance on 133(6) data for choosing high margin SWD comparables

  • In Favour of Assessee
  • Citation Number : TS-15-ITAT-2022(Bang)-TP
  • Tax Payer : Infor (Bangalore) P Ltd

ITAT: Quashes final assessment order as not in conformity with DRP’s directions; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-14-ITAT-2022(DEL)-TP
  • Tax Payer : Olympus Medical Systems Pvt Ltd

ITAT: Rejects revisionary jurisdiction qua void assessment order passed in violation of Sec 144C

  • In Favour of Assessee
  • Citation Number : TS-13-ITAT-2022(PAT)-TP
  • Tax Payer : Dina Mahabir Re-Rollers Pvt Ltd

ITAT: Upholds internal TNMM for ALP determination; Directs segmental costs calculation basis CA’s certificate

  • In Favour of Assessee
  • Citation Number : TS-12-ITAT-2022(DEL)-TP
  • Tax Payer : In Trading Pvt Ltd

HC: Quashes AOs’ arbitrary order and consequent DRP order, Remits matter to DRP for fresh consideration

  • In Favour of Assessee
  • Citation Number : TS-707-HC-2021(KAR)-TP
  • Tax Payer : Marvell India Pvt Ltd

HC: Holds final AO order sans DRP’s directions as arbitrary, illegal and without jurisdiction/authority; Quashes it

  • In Favour of Assessee
  • Citation Number : TS-706-HC-2021(KAR)-TP
  • Tax Payer : Marvell India Pvt Ltd

ITAT: Quashes draft order passed alongwith demand & penalty notice; Cites violation of Sec 144C procedure

  • In Favour of Assessee
  • Citation Number : TS-705-ITAT-2021(Bang)-TP
  • Tax Payer : Cisco Systems Services B.V. (India Branch)

ITAT: Upholds revisionary order u/s 263; Directs AO to recompute TP-adjustment basis TPO’s order

  • In Favour of Revenue
  • Citation Number : TS-10-ITAT-2022(DEL)-TP
  • Tax Payer : ACTIA (India) Pvt Ltd