Updates ( 9020 results )

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ITAT: Deletes Sec.271G penalty; Considers information submission difficult for diamond merchants

  • In Favour of Assessee
  • Citation Number : TS-1200-ITAT-2019(Mum)-TP
  • Tax Payer : D Navinchandra Gems Pvt Ltd

ITAT: Rules on comparables for product engineering services provider; Holds forex fluctuation loss non-operating

  • In Favour of Assessee
  • Citation Number : TS-1199-ITAT-2019(COCH)-TP
  • Tax Payer : US Technology International Pvt Ltd

ITAT: Deletes TP-adjustment on valves exports; Justifies loss-making transaction as pure business decision

  • In Favour of Assessee
  • Citation Number : TS-1197-ITAT-2019(Mum)-TP
  • Tax Payer : Audco India Limited

ITAT: Upholds Nil-ALP for shared services absent receipt proof; Remits ALP-determination of trademark-charges

  • In Favour of Both, Partially
  • Citation Number : TS-1196-ITAT-2019(PUN)-TP
  • Tax Payer : Knorr Bremse Systems for Commercial Vehicles India Private Limited (“KB India”)

ITAT: Rules on comparables; Excludes merchant banker for investment advisor

  • In Favour of Assessee
  • Citation Number : TS-1195-ITAT-2019(Mum)-TP
  • Tax Payer : Helix Investments Advisors India Pvt Ltd

ITAT: Directs DRP to pass speaking order on TP-issues after addressing assessee’s objections

  • In Favour of Assessee
  • Citation Number : TS-1194-ITAT-2019(COCH)-TP
  • Tax Payer : Delphi Connection Systems India Pvt Ltd (Formerly FCI Technologies Services Ltd)

ITAT: Remits TP-addition made on account of intra-group services; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-1193-ITAT-2019(DEL)-TP
  • Tax Payer : Caparo Enginering (I) P Ltd

ITAT: Deletes AMP-adjustment absent benefit to AE; Holds mere logo use not an international transaction

  • In Favour of Assessee
  • Citation Number : TS-1191-ITAT-2019(DEL)-TP
  • Tax Payer : Xerox Limited (previously known as Xerox Modicorp Limited)

ITAT: TPO's non-adherence of DRP-directions can't justify AO's-order passed without incorporating such directions

  • In Favour of Assessee
  • Citation Number : TS-1190-ITAT-2019(CHANDI)-TP
  • Tax Payer : Basware Corporation India

ITAT: Deletes TP-adjustment on intra-group services; Need and rendition of services not within TPO’s jurisdiction

  • In Favour of Assessee
  • Citation Number : TS-1189-ITAT-2019(Ahd)-TP
  • Tax Payer : Gulbrandsen Chemicals P Ltd

ITAT: Deletes TP-adjustment on reimbursement of expenditure to AE; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-1188-ITAT-2019(Mum)-TP
  • Tax Payer : U T Worldwide India Pvt Ltd

ITAT: Upholds CIT(A)’s TP-adjustment deletion w.r.t purchase and sale of traded goods

  • In Favour of Assessee
  • Citation Number : TS-1187-ITAT-2019(Mum)-TP
  • Tax Payer : Duty Free Distribution Services Pvt Ltd

ITAT: Excludes 13 comparables for benchmarking software services; Remits intra-group services TP-adjustment

  • In Favour of Assessee
  • Citation Number : TS-1186-ITAT-2019(Bang)-TP
  • Tax Payer : Safran Engineering Services India (P) Ltd (Formerly Safran Aerospace India Pvt Ltd)

ITAT: Excludes functionally dissimilar Excel Infoways for ITES-provider; Remits TP-adjustment on AE-receivables

  • In Favour of Assessee
  • Citation Number : TS-1185-ITAT-2019(Mum)-TP
  • Tax Payer : Tech Mahindra Business Services Limited (Formerly known as Hutchison Global Services Limited)

ITAT: Includes Thinksoft for software-developer considering verification & validation part of software development

  • In Favour of Both, Partially
  • Citation Number : TS-1184-ITAT-2019(DEL)-TP
  • Tax Payer : Netlink Software Pvt. Ltd

HC:Dismisses Revenue’s appeal, citing low-tax effect, against ITAT-order on working capital adjustment

  • In Favour of Assessee
  • Citation Number : TS-1183-HC-2019(MAD)-TP
  • Tax Payer : Foxteq Services India Pvt Ltd

ITAT: Remits capacity adjustment issue for assessee manufacturer in second year of operation

  • In Favour of Assessee
  • Citation Number : TS-1182-ITAT-2019(DEL)-TP
  • Tax Payer : TPR Autoparts Mfg India Pvt Ltd

ITAT: Excludes 6 comparables for ITes-provider citing huge intangibles, segmental-unavailability etc; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-1181-ITAT-2019(DEL)-TP
  • Tax Payer : Evalueserve.com Pvt Ltd

ITAT: Rectifies comparables selection to include 2 functionally similar companies in Microsoft India case

  • In Favour of Assessee
  • Citation Number : TS-1180-ITAT-2019(DEL)-TP
  • Tax Payer : Microsoft India (R&D) Pvt Ltd

ITAT:Deletes TP-adjustments absent prescribed method application u/s.92C; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-1179-ITAT-2019(Mum)-TP
  • Tax Payer : MC Retail Pvt Ltd