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ITAT: 144(2)(b) mandates filing objections before both (DRP, AO) within 30 days

Oct 11, 2023
  • In Favour of Revenue
  • Citation Number : TS-589-ITAT-2023(Rjt)-TP
  • Tax Payer : Kandla Energy and Chemicals Ltd

ITAT: Remits issue of economic adjustment qua deduction u/s 80IC, follows earlier-order

Oct 11, 2023
  • In Favour of Assessee
  • Citation Number : TS-591-ITAT-2023(CHNY)-TP
  • Tax Payer : L G Balakrishnan & Bros Limited

ITAT: Deletes interest on share-application money, considers LIBOR+300 bps on receivables; Follows precedent

Oct 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-585-ITAT-2023(Mum)-TP
  • Tax Payer : Strides Pharma Science Ltd

ITAT: Laments AO's failure to give timely effect to revisionary orders, allows assessee's appeal

Oct 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-586-ITAT-2023(Mum)-TP
  • Tax Payer : KKR India Advisors Private Limited

ITAT: Dismisses assessee’s appeal as infructuous, TP-adjustment already deleted by this bench

Oct 10, 2023
  • In Favour of Assessee
  • Citation Number : TS-587-ITAT-2023(DEL)-TP
  • Tax Payer : Amadeus India Pvt. Ltd.

ITAT: Imputes corporate guarantee commission @ 0.5%, rejects NIL ALP of royalty payment

Oct 09, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-583-ITAT-2023(CHNY)-TP
  • Tax Payer : VA Tech Wabag Ltd

ITAT: Holds TP-adjustment qua SDT not sustainable; Remits Sec.40A(2)(b)-applicability issue

Oct 09, 2023
  • In Favour of Assessee
  • Citation Number : TS-584-ITAT-2023(Mum)-TP
  • Tax Payer : Imperial Mark Trade (I) Pvt Ltd

ITAT: Deletes adjustments for import of raw material, data management fees; Follows earlier order

Oct 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-581-ITAT-2023(Ahd)-TP
  • Tax Payer : Schneider Electric Infrastructure Limited

ITAT: Accepts assessee’s suo-moto benchmarking of guarantee commission @ 1.15%; Follows earlier order

Oct 05, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-582-ITAT-2023(Mum)-TP
  • Tax Payer : The Great Eastern Shipping Co Ltd

ITAT: Affirms CIT(A)'s restriction of TP-adjustment in Adani Power's case, follows earlier order

Oct 04, 2023
  • In Favour of None/NA
  • Citation Number : TS-578-ITAT-2023(Ahd)-TP
  • Tax Payer : Adani Power Ltd

HC: Upholds ITAT order quashing draft order passed with demand & penalty notices

Oct 04, 2023
  • In Favour of Assessee
  • Citation Number : TS-577-HC-2023(TEL)-TP
  • Tax Payer : Hyundai Motor India Limited

ITAT: Sets aside NIL ALP for ESOP expenses on vested options; Remits ALP determination

Oct 03, 2023
  • In Favour of Assessee
  • Citation Number : TS-574-ITAT-2023(Mum)-TP
  • Tax Payer : Booking.Com India Support & Marketing Services Private Limited

ITAT: Directs ALP computation as per Rule 10CA, not 10B, given 4 surviving comparables

Oct 03, 2023
  • In Favour of Both, Partially
  • Citation Number : TS-575-ITAT-2023(PUN)-TP
  • Tax Payer : Rafiq Naik Exports Private Limited

ITAT: Deletes penalty u/s 271(1)(c) on TP adjustment absent evidence of concealment of income

Sep 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-571-ITAT-2023(Mum)-TP
  • Tax Payer : Schindler India Private Limtied

ITAT: Quashes TPO’s order, final assessment-order as barred by limitation; Follows precedents

Sep 29, 2023
  • In Favour of Assessee
  • Citation Number : TS-572-ITAT-2023(Mum)-TP
  • Tax Payer : Gammon India Ltd

ITAT: Accepts internal TNMM for benchmarking ITeS transaction; Directs 6% interest on receivables

Sep 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-569-ITAT-2023(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Private Limited

ITAT: Excludes comparables citing functional dissimilarity, lack of data; Remits working capital adjustment

Sep 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-570-ITAT-2023(Mum)-TP
  • Tax Payer : QAD India Private Limited

HC: Upholds ITAT order excluding Infosys & Wipro for SWD service-provider assessee

Sep 28, 2023
  • In Favour of Assessee
  • Citation Number : TS-568-HC-2023(DEL)-TP
  • Tax Payer : Global Logic India Pvt. Ltd.

ITAT: Deletes IGS adjustment, assessee availed few services under composite agreement

Sep 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-567-ITAT-2023(Mum)-TP
  • Tax Payer : NTT India Pvt Ltd

ITAT: Holds payment of interest on CCDs @ 9% not excessive, follows precedents

Sep 27, 2023
  • In Favour of Assessee
  • Citation Number : TS-566-ITAT-2023(NAG)-TP
  • Tax Payer : Bilt Graphic Paper Product Ltd