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ITAT: Confirms CIT(A)’s deletion of Sec.271G-penalty on diamond merchant, follows earlier decision

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-518-ITAT-2024(Mum)-TP
  • Tax Payer : Ankit Gems Pvt Ltd

ITAT: Emphasises on principle of consistency, holds AO erred in not following DRP-directions

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2024(DEL)-TP
  • Tax Payer : Humboldt Wedag India Pvt Ltd

ITAT: Rules on TP-adjustments w.r.t loan-interest & guarantee fee, follows earlier order

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-515-ITAT-2024(Mum)-TP
  • Tax Payer : Rosy Blue (India) Pvt. Ltd

ITAT: Adopts interest @LIBOR+200 points on trade receivables, allows credit period; Follows precedent

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-516-ITAT-2024(HYD)-TP
  • Tax Payer : Erstwhile Amalgamating Company Sitapuram Power Limited

ITAT: Deletes TP-adjustment qua interest on outstanding receivables, considers assessee's debt-free status

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-513-ITAT-2024(CHNY)-TP
  • Tax Payer : Temenos India Pvt Ltd

HC: Directs ITAT to consider grounds pertaining to TP-adjustment qua purchase of finished goods

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-514-HC-2024(DEL)-TP
  • Tax Payer : Luxottica India Eyewear Pvt Ltd

ITAT: Quashes assessment order u/s 147 r.w.s. 144C(13) as time-barred absent TPO-reference

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-511-ITAT-2024(HYD)-TP
  • Tax Payer : Mir Ibrahim Ali

ITAT: Imputes ALP-commission on SBLC @ 1% over TPO's 4.01%, considers Everest Kento ruling

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2024(DEL)-TP
  • Tax Payer : ANAND NVH PRODUCTS PRIVATE LIMITED

ITAT: Quashes assessment order passed in non-compliance of Sec.144C, NRI-assessee's attitude immaterial

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-510-ITAT-2024(Mum)-TP
  • Tax Payer : Hasmukh Dipchand Gardi

HC: Dismisses Revenue’s appeal against ITAT-order invalidating TPO-reference qua SDT u/s.92BA(i)

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-509-HC-2024(KAR)-TP
  • Tax Payer : TT Steel Service India Pvt Ltd

ITAT: Remits adjustment qua marketing & distribution expenses, deletes club-service expenditure adjustment

Dec 05, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-506-ITAT-2024(Bang)-TP
  • Tax Payer : AstraZeneca Pharma India Ltd

ITAT: Deletes TP-adjustment qua management fee payment; Follows precedents

Dec 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-507-ITAT-2024(Mum)-TP
  • Tax Payer : Otis Elevator Company (India) Limited

ITAT: Upholds CIT(A)’s deletion of TP-adjustment qua management service charges

Dec 02, 2024
  • In Favour of Assessee
  • Citation Number : TS-500-ITAT-2024(Ahd)-TP
  • Tax Payer : Schaeffler India Limited

ITAT: Remands comparables selection, predecessor's order cannot be sole basis for CIT(A)'s decision

Dec 02, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-502-ITAT-2024(PUN)-TP
  • Tax Payer : Renishaw Metrology Systems Ltd

ITAT: Charges 0.50% fee for corporate guarantee, follows Assessee’s earlier order

Nov 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-498-ITAT-2024(VIZ)-TP
  • Tax Payer : 3F Industries Limited

ITAT: Applies 10 times turnover filter & 6% on deferred receivables; Follows earlier order

Nov 27, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-499-ITAT-2024(HYD)-TP
  • Tax Payer : Benu Networks Packet Switch Private Limited

ITAT: Dismisses Assessee’s appeal as withdrawn as issues covered in APA

Nov 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-497-ITAT-2024(Mum)-TP
  • Tax Payer : Deutsche India Pvt Ltd (Formerly DBOI Global Services Ltd)

ITAT: Restricts corporate guarantee rate at 0.5% as been settled over period of time

Nov 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-496-ITAT-2024(Kol)-TP
  • Tax Payer : EIH Limited

HC: Remits issue w.r.t inclusion of comparable, assessee's contention qua functional dissimilarity not considered

Nov 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-495-HC-2024(DEL)-TP
  • Tax Payer : Sequential Technology International India Pvt Ltd

ITAT: Rules on comparables' selection, treatment of written-back liabilities, economic adjustments, etc.

Nov 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-494-ITAT-2024(DEL)-TP
  • Tax Payer : Imsofer Manufacturing India Pvt Ltd