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ITAT: Holds Chapter X inapplicable once assessee opts for Tonnage Tax Scheme, follows precedents

Jul 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-430-ITAT-2023(VIZ)-TP
  • Tax Payer : Lewek Altair Shipping Private Ltd

ITAT: Demand notice issued with draft assessment order a non-curable mistake; Follows precedents

Jul 18, 2023
  • In Favour of Assessee
  • Citation Number : TS-431-ITAT-2023(Mum)-TP
  • Tax Payer : Brightstar Infrastructure Private Limited

ITAT: Allows working capital adjustment to raise comparability with tested party, comparables

Jul 18, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-432-ITAT-2023(CHNY)-TP
  • Tax Payer : Atmel R&D India Pvt Ltd

ITAT: Holds export incentives operating in nature to compute PLI; Excludes 3 comparables

Jul 18, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-433-ITAT-2023(VIZ)-TP
  • Tax Payer : Alliance One Industries India Private Limited

ITAT: Upholds deletion of TP-adjustments qua corporate guarantee fee & SDT of interest payment

Jul 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-427-ITAT-2023(Kol)-TP
  • Tax Payer : A A Infraproperties Pvt Ltd

ITAT: Accepts assessee's plea, excludes 5 comparables under IT service segment; Follows precedents

Jul 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-426-ITAT-2023(Mum)-TP
  • Tax Payer : Accenture Services Pvt Ltd

ITAT: Quashes time barred TPO order, assessment order; Follows precedents

Jul 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-428-ITAT-2023(Mum)-TP
  • Tax Payer : DHL Logistics Private Limited

ITAT: Quashes final order passed without draft order, principle of mutuality unaddressed

Jul 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2023(Mum)-TP
  • Tax Payer : Marriott International Inc

ITAT: Upholds internal CUP as MAM to determine guarantee commission; Follows earlier orders

Jul 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-424-ITAT-2023(Mum)-TP
  • Tax Payer : Greatship (India) Ltd

ITAT: Holds assessment order passed in name of non-existent company as void; Follows precedents

Jul 14, 2023
  • In Favour of Assessee
  • Citation Number : TS-425-ITAT-2023(Mum)-TP
  • Tax Payer : Abbott India Ltd

ITAT: Upholds LIBOR+5% rate for interest on loans to WOS; Follows earlier orders

Jul 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-421-ITAT-2023(DEL)-TP
  • Tax Payer : Omaxe Ltd

ITAT: Rejects TPO's aggregation of distribution & manufacturing segments; Deletes interest on outstanding receivables

Jul 13, 2023
  • In Favour of Assessee
  • Citation Number : TS-422-ITAT-2023(DEL)-TP
  • Tax Payer : Rockwell Automation India Pvt Ltd

HC: Dismisses Revenue’s appeal against ITAT’s deletion of TP-adjustment qua management fees

Jul 12, 2023
  • In Favour of Assessee
  • Citation Number : TS-420-HC-2023(P & H)-TP
  • Tax Payer : Nippon Leakless Talbros Pvt. Ltd.

ITAT: Upholds CUP, simple average for brokerage ALP determination; Rejects IGS disallowance absent adequate analysis

Jul 11, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-418-ITAT-2023(Mum)-TP
  • Tax Payer : Morgan Stanley India Company Private Limited

ITAT: Monthly average price for inter-unit tea transfer, not uniform; Upholds adjustment deletion

Jul 11, 2023
  • In Favour of Assessee
  • Citation Number : TS-419-ITAT-2023(Kol)-TP
  • Tax Payer : Mcleod Russel India Limited

ITAT: Remits ALP-determination qua interest paid to AE for loan by Standard Chartered Capital

Jul 10, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-416-ITAT-2023(Mum)-TP
  • Tax Payer : Standard Chartered Capital Limited

ITAT: Dismisses assessee’s TP-related appeal as not pressed in view of APA resolution

Jul 10, 2023
  • In Favour of Revenue
  • Citation Number : TS-415-ITAT-2023(Bang)-TP
  • Tax Payer : ThoughtWorks Technologies (India) Pvt Ltd

ITAT: Deletes TP-adjustment qua management fees; Follows precedents

Jul 07, 2023
  • In Favour of Assessee
  • Citation Number : TS-681-ITAT-2015(DEL)-TP
  • Tax Payer : Nippon Leakless Talbros Pvt. Ltd.

ITAT: Upholds LIBOR+100bps for benchmarking loan interest, restricts corporate guarantee fee @0.35%

Jul 06, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-413-ITAT-2023(Mum)-TP
  • Tax Payer : JSW Steel Ltd

SC: Dismisses Revenue’s SLP challenging comparables-selection in case of Microsoft India (R&D)

Jul 06, 2023
  • In Favour of Assessee
  • Citation Number : TS-412-SC-2023-TP
  • Tax Payer : Microsoft India (R &D) Pvt Ltd