Updates ( 9016 results )

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ITAT: Quashes draft assessment order issued alongwith demand & penalty notice; Renders TP grounds academic

  • In Favour of Assessee
  • Citation Number : TS-162-ITAT-2021(Bang)-TP
  • Tax Payer : Suretex Prophylactics (India) Ltd

ITAT: Applies rule of consistency; Remits selection of MAM for benchmarking manufacturing segment

  • In Favour of Assessee
  • Citation Number : TS-163-ITAT-2021(DEL)-TP
  • Tax Payer : Carrier Midea India P Ltd

ITAT: Holds corporate guarantee as an international transaction; Follows Redington ruling

  • In Favour of Revenue
  • Citation Number : TS-157-ITAT-2021(HYD)-TP
  • Tax Payer : Ramky Enviro Engineers Ltd

ITAT: Upholds EURIBOR as ALP for benchmarking EURO-denominated AE-loans; Holds guarantee-fee payment of 0.5% at ALP

  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2021(Mum)-TP
  • Tax Payer : J.B.Chemicals And Pharmaceuticals Ltd

ITAT: Questioning commercial-expediency, alleging service duplication, beyond TPO’s domain; Remits TP-adjustment w.r.t marketing-expenses

  • In Favour of Assessee
  • Citation Number : TS-159-ITAT-2021(Mum)-TP
  • Tax Payer : L'oreal India Pvt. Ltd

ITAT: Dismisses Revenue's plea to add AE-loans u/s 69; Upholds ECB-interest, guarantee and service fee as business-expenditure

  • In Favour of Assessee
  • Citation Number : TS-161-ITAT-2021(Mum)-TP
  • Tax Payer : Rabo India Finance Limited

HC: Uphold CIT's revisionary proceedings; reference to TPO for determination of ALP mandatory

  • In Favour of Revenue
  • Citation Number : TS-1262-HC-2019(KAR)-TP
  • Tax Payer : Obulapuram Mining Company Pvt Ltd

HC: Dismisses Revenue’s appeal absence perversity in substantial question of law

  • In Favour of Assessee
  • Citation Number : TS-156-HC-2021(KAR)-TP
  • Tax Payer : EDS Electronic Data System India Pvt Ltd

HC: Lists Smart Cube India matter w.r.t comparable-selection on December 8; Tags appeal with assessee’s-own case

  • In Favour of Assessee
  • Citation Number : TS-770-HC-2020(DEL)-TP
  • Tax Payer : Smart Cube India Pvt Ltd

ITAT: Excludes 4, remits 4 comparables for software-development services provider; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-153-ITAT-2021(Bang)-TP
  • Tax Payer : Mavenir Systems Pvt Ltd

ITAT: Rules on selection of comparables for software-developer; Follows NXP-India ruling for differing financial-year companies

  • In Favour of Assessee
  • Citation Number : TS-154-ITAT-2021(Bang)-TP
  • Tax Payer : Hewlett Packard (India) Software Operation Pvt Ltd

ITAT: Upholds corporate guarantee as international transaction with ALP @ 0.5%; Bank charges/ commission non-operating expense

  • In Favour of Assessee
  • Citation Number : TS-152-ITAT-2021(PUN)-TP
  • Tax Payer : Bilcare Limited

ITAT: Excludes 4 comparables for ITeS-provider, follows various rulings; Remits working-capital adjustment for reconsideration

  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2021(Bang)-TP
  • Tax Payer : Acuity Knowledge Center (India) Pvt. Ltd

ITAT: Allows assessee to contest comparables included in TP-study, excludes 3 citing functional-dissimilarity etc

  • In Favour of Assessee
  • Citation Number : TS-150-ITAT-2021(Bang)-TP
  • Tax Payer : Fiberlink Software Pvt Ltd

ITAT: Quashes Sec 263 order; Upholds non-applicability of Sec 56(2)(viib) to non-resident share issue

  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2021(Ind)-TP
  • Tax Payer : Ruchi J Oil Pvt. Ltd

ITAT: AMP not international transaction, follows Maruti Suzuki; Remits other issues

  • In Favour of Assessee
  • Citation Number : TS-148-ITAT-2021(Mum)-TP
  • Tax Payer : Johnson & Johnson (P.) Ltd

ITAT: Deletes TP-adjustment on corporate fees paid by Rolls Royce; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-149-ITAT-2021(Mum)-TP
  • Tax Payer : Rolls Royce Marine India Pvt Ltd

ITAT: Deletes TP-adjustment on RSU; Takes cognizance of TP-documentation maintained for other payments

  • In Favour of Assessee
  • Citation Number : TS-142-ITAT-2021(Mum)-TP
  • Tax Payer : Sulzer Pumps India Limited

HC: Quashes assessment order passed beyond 1 year post ITAT-remand, time-barred u/s.153(2A)

  • In Favour of Assessee
  • Citation Number : TS-143-HC-2021(MAD)-TP
  • Tax Payer : Freight Systems (India) Pvt. Ltd

ITAT: Dismisses MA on outstanding receivables; AE's access to assessee's reserves akin to loans

  • In Favour of Revenue
  • Citation Number : TS-145-ITAT-2021(DEL)-TP
  • Tax Payer : Techbooks International Pvt Ltd