Updates ( 9016 results )

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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

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

ITAT: Holds assessment-order passed without draft-order in remand proceedings as void

  • In Favour of Assessee
  • Citation Number : TS-565-ITAT-2023(Mum)-TP
  • Tax Payer : Tata Communications Transformation Services Limited

HC: Dismisses Revenue’s appeal citing Tribunal rightly excluded comparables based on merits

  • In Favour of Assessee
  • Citation Number : TS-564-HC-2023(DEL)-TP
  • Tax Payer : Mentor Graphics (India) Pvt Ltd

HC: Holds assessment on Himalaya Drug invalid as notice u/s 153C issued by AO before conferment of jurisdiction u/s 127

  • In Favour of Assessee
  • Citation Number : TS-723-HC-2021(KAR)-TP
  • Tax Payer : Himalaya Drug Company

ITAT: Upholds Infosys' exclusion as comparable under SWD services segment, dismisses Revenue’s appeal

  • In Favour of Assessee
  • Citation Number : TS-563-ITAT-2023(DEL)-TP
  • Tax Payer : Avaya India Private Limited

ITAT: Rejects NIL ALP qua R&D expenses, management fees; AO to apply prescribed method

  • In Favour of Both, Partially
  • Citation Number : TS-562-ITAT-2023(Mum)-TP
  • Tax Payer : Hamon Cooling Systems Private Limited

ITAT: Deletes TP-adjustment citing +/- 5% tolerance band benefit u/s 92C(2) proviso

  • In Favour of Assessee
  • Citation Number : TS-560-ITAT-2023(DEL)-TP
  • Tax Payer : STEAG Energy Services (I) Pvt Ltd

ITAT: Confirms SDT-adjustment using CUP over other method for benchmarking fuel stock trade

  • In Favour of Revenue
  • Citation Number : TS-561-ITAT-2023(Mum)-TP
  • Tax Payer : Malco Energy Limited

ITAT: Excludes comparables failing upper turnover filter and functionally dissimilar; Allows working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-558-ITAT-2023(Bang)-TP
  • Tax Payer : Euronet Services India Pvt Ltd