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ITAT: Deletes AMP adjustment, allows working capital adjustment for Lenovo India

Mar 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-167-ITAT-2023(Bang)-TP
  • Tax Payer : Lenovo India Pvt Ltd

ITAT: Remits TP-adjustment qua cost contribution charges for centralized services

Mar 21, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-168-ITAT-2023(Bang)-TP
  • Tax Payer : Ingersoll-Rand Technologies and Services Pvt Ltd

ITAT: Directs TP-adjustment qua interest on outstanding loan at LIBOR + 300 in an ex-parte order

Mar 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-164-ITAT-2023(Mum)-TP
  • Tax Payer : Dinshaw Trapinex Builders Pvt Ltd

ITAT: Deletes TP-adjustment qua management fees, cost allocation charges; Follows earlier orders

Mar 20, 2023
  • In Favour of Assessee
  • Citation Number : TS-165-ITAT-2023(Mum)-TP
  • Tax Payer : HSBC Asset Management (India) Pvt Ltd

ITAT: Deletes notional interest on share application money; Adopts USD LIBOR as ALP interest on outstanding guarantee commission

Mar 20, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-166-ITAT-2023(VIZ)-TP
  • Tax Payer : GVK Power & Infrastructure Ltd

ITAT: Restricts TP adjustment on guarantee commission @ 0.5%; Upholds TP adjustment qua interest on inter-corporate deposits

Mar 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-160-ITAT-2023(Mum)-TP
  • Tax Payer : Hindustan Construction Co Ltd

ITAT: Deletes TP adjustment made for a single month; Confirms assessee’s higher ALP owing to quality difference

Mar 17, 2023
  • In Favour of Assessee
  • Citation Number : TS-161-ITAT-2023(Ahd)-TP
  • Tax Payer : H K Ispat Pvt Ltd

ITAT: Deletes TP-adjustment absent Revenue’s appeal against earlier year’s order; Remits claim for enhanced deduction u/s 80IA

Mar 17, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-162-ITAT-2023(DEL)-TP
  • Tax Payer : DCM Shriram Industries Ltd

ITAT: Rejects TPO’s disallowance of 6% of royalty for bundled rights and services; Remits matter for fresh consideration

Mar 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-157-ITAT-2023(DEL)-TP
  • Tax Payer : Marks & Spencer (India) Pvt Ltd

ITAT: Deletes TP-adjustment citing TPO’s order was barred by limitation; Follows precedents

Mar 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-156-ITAT-2023(Mum)-TP
  • Tax Payer : Credit Suisse AG (as a successor of Credit Suisse (International Holdings AG)

ITAT: Remits issue pertaining to disallowance of 5% markup for purchase of fixed assets

Mar 16, 2023
  • In Favour of Assessee
  • Citation Number : TS-158-ITAT-2023(DEL)-TP
  • Tax Payer : AVL Technical Centre Pvt Ltd

ITAT: Directs compliance of DRP’s directions ‘in letter and spirit’; Remits comparables for fresh examination

Mar 15, 2023
  • In Favour of Assessee
  • Citation Number : TS-153-ITAT-2023(HYD)-TP
  • Tax Payer : Cotiviti India Private Limited (merged entity of Care Management International (P) Ltd)

ITAT: Rules on comparables and allowability of 60 days’ credit period; Follows precedent

Mar 15, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-154-ITAT-2023(HYD)-TP
  • Tax Payer : Quislex Legal Services Private Limited

ITAT: Upholds assessee’s TNMM as MAM for exports and royalty, CUP for interest on ECB; Follows earlier order

Mar 15, 2023
  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2023(Mum)-TP
  • Tax Payer : Firmenich Aromatics Production (India) Private Limited

ITAT: Rules on comparables qua SWD segment; Allows assessee’s plea w.r.t receipt of intra-group services

Mar 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-149-ITAT-2023(Bang)-TP
  • Tax Payer : UXC India IT Services Pvt Ltd

ITAT: Applies upper turnover filter in SWD, ITeS segments; Adopts LIBOR+2% on outstanding receivables

Mar 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-150-ITAT-2023(Bang)-TP
  • Tax Payer : Marlabs Innovations Pvt Ltd

ITAT: Upholds forex gain/loss as operating expense; Rejects functionally different comparables

Mar 14, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-151-ITAT-2023(Bang)-TP
  • Tax Payer : Subex Limited

ITAT: Rectifies earlier order; Allows credit period and interest above 60 days period

Mar 14, 2023
  • In Favour of Revenue
  • Citation Number : TS-152-ITAT-2023(HYD)-TP
  • Tax Payer : Quislex Legal Services P Ltd

HC: Dismisses assessee’s writ petition against assessment order; Notes merger with another Company

Mar 14, 2023
  • In Favour of Revenue
  • Citation Number : TS-931-HC-2022(TEL)-TP
  • Tax Payer : Cordys R&D India Pvt Ltd

ITAT: Remits TP adjustment qua segmental margins under manufacturing segment

Mar 13, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-146-ITAT-2023(Bang)-TP
  • Tax Payer : Makino India Pvt Ltd