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ITAT: Deletes TP-adjustment for interbank indemnities issued by overseas branches, upholds TNMM

Feb 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-67-ITAT-2024(Mum)-TP
  • Tax Payer : The Bank of Nova Scotia

ITAT: Remands disallowance computation, cites AO's failure to follow DRP-order in true sense

Feb 28, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-65-ITAT-2024(Mum)-TP
  • Tax Payer : Pacific Internet India Pvt Ltd

HC: Allows assessee’s writ petition on refund of tax deposited for grant of stay

Feb 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-66-HC-2024(DEL)-TP
  • Tax Payer : Navisite India Pvt. Ltd

HC: Disposes Revenue's appeal citing expiry of ITAT-order extending stay of demand

Feb 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-64-HC-2024(MAD)-TP
  • Tax Payer : Durr India Private Limited

ITAT: Remits TP-adjustment qua notional interest on outstanding receivables

Feb 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-63-ITAT-2024(Bang)-TP
  • Tax Payer : Altisource Business Solutions Private Ltd

ITAT: Dismisses assessee's MA seeking rectification of Tribunal order on comparable-selection

Feb 26, 2024
  • In Favour of Revenue
  • Citation Number : TS-61-ITAT-2024(DEL)-TP
  • Tax Payer : Louis Dreyfur Commodities India Pvt Ltd

ITAT: Directs TPO to follow DRP’s directions w.r.t aggregation approach, TNMM application

Feb 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-62-ITAT-2024(Kol)-TP
  • Tax Payer : Linde India Ltd (formerly BOC India Ltd)

ITAT: Grants stay of demand to DLF Midtown w.r.t SDT-adjustment u/s.92BA

Feb 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-59-ITAT-2024(DEL)-TP
  • Tax Payer : DLF Midtown P Ltd

ITAT: Deletes addition qua commission on SBLC; Follows earlier order

Feb 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-58-ITAT-2024(DEL)-TP
  • Tax Payer : Bhartiya International Ltd

ITAT: Deletes notional interest on outstanding receivables; Follows precedents

Feb 22, 2024
  • In Favour of Assessee
  • Citation Number : TS-57-ITAT-2024(DEL)-TP
  • Tax Payer : TCI-GO Vacation India Private Limited

ITAT: Dismisses assessee’s MA qua interest on receivables, invoice-wise details not filed earlier

Feb 22, 2024
  • In Favour of Revenue
  • Citation Number : TS-56-ITAT-2024(HYD)-TP
  • Tax Payer : Aurobindo Pharma Ltd.

ITAT: Upholds comparables selected by TPO/DRP; Remits interest on outstanding receivables

Feb 21, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-54-ITAT-2024(VIZ)-TP
  • Tax Payer : Teejay India Private Limited

ITAT: Deletes TP-adjustment for AMP expenses alleged as brand promotion; Follows earlier orders

Feb 21, 2024
  • In Favour of Assessee
  • Citation Number : TS-55-ITAT-2024(CHNY)-TP
  • Tax Payer : Hyundai Motor India Limited

ITAT: No change in facts to deviate from TNMM to CUP; Confirms rejection of multiple/ prior year data

Feb 16, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-49-ITAT-2024(VIZ)-TP
  • Tax Payer : Teejay India Private Limited

ITAT: Deletes TP-adjustments qua Letter of comfort, interest on delayed realization

Feb 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-50-ITAT-2024(Mum)-TP
  • Tax Payer : Tata International Limited

ITAT: Rejects assessee’s own recharacterization as distributor, upholds CUP to benchmark API-import

Feb 15, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-48-ITAT-2024(Mum)-TP
  • Tax Payer : Fulford (India) Limited

ITAT: Excludes functionally dissimilar comparables, directs AO/TPO to examine working capital adjustment

Feb 15, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-47-ITAT-2024(VIZ)-TP
  • Tax Payer : Brandix Apparel India Private Limited

ITAT: Confirms CIT(A)’s deletion of TP-adjustment qua sale of power u/s.80IA; Follows precedents

Feb 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-46-ITAT-2024(Kol)-TP
  • Tax Payer : IFB Agro Industries Ltd

HC: Dismisses Revenue's appeal against ITAT order quashing time-barred assessment u/s.144C

Feb 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-45-HC-2024(DEL)-TP
  • Tax Payer : Fiberhome India Private Limited

ITAT: Holds final order passed by AO beyond limitation u/s.144C as void

Feb 14, 2024
  • In Favour of Assessee
  • Citation Number : TS-749-ITAT-2023(DEL)-TP
  • Tax Payer : Fiberhome India Private Limited