Updates ( 9016 results )

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ITAT: Rules on comparables qua SWD, ITES; Adopts interest @ LIBOR 6 months+300bps on receivables

  • In Favour of Both, Partially
  • Citation Number : TS-133-ITAT-2023(Bang)-TP
  • Tax Payer : NTT Data Information Processing Services Pvt Ltd

ITAT: Holds, finding fault with TPO doesn't absolve CIT(A) from responsibility to determine ALP u/s 92C

  • In Favour of Both, Partially
  • Citation Number : TS-131-ITAT-2023(Mum)-TP
  • Tax Payer : Gea Procees Engineering (I) Pvt Ltd

ITAT: Rules on comparable selection; Remits adjustment qua working capital, capacity utilization and operating cost; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-129-ITAT-2023(Bang)-TP
  • Tax Payer : Shindengen India Pvt Ltd

ITAT: Sales to local vendors uninfluenced by AE, not deemed international transactions for computing TP-adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-132-ITAT-2023(Bang)-TP
  • Tax Payer : Comer Industries India Private Limited

ITAT: Upholds ALP interest on outbound foreign currency loans at rates prevalent in AE-residence country; Follows Cotton Naturals

  • In Favour of Assessee
  • Citation Number : TS-125-ITAT-2023(DEL)-TP
  • Tax Payer : Uniparts India Ltd

ITAT: Remits TP adjustments w.r.t marketing support services, mark-up on external cost

  • In Favour of Assessee
  • Citation Number : TS-126-ITAT-2023(Mum)-TP
  • Tax Payer : Boehringer Ingelheim India Private Limited

ITAT: Change in filters / comparables not concealment of income; Deletes penalty u/s 271(1)(c)

  • In Favour of Assessee
  • Citation Number : TS-127-ITAT-2023(DEL)-TP
  • Tax Payer : AON Services India Pvt Ltd

ITAT: Excludes Infosys as comparable for routine IT service provider citing functional dissimilarity, upper turnover filter

  • In Favour of Assessee
  • Citation Number : TS-124-ITAT-2023(Bang)-TP
  • Tax Payer : Arris Group India Pvt Ltd

ITAT: Excludes Wipro, Infosys as comparables; Deletes TP-adjustment qua reimbursement of out-of-pocket expenses

  • In Favour of Assessee
  • Citation Number : TS-123-ITAT-2023(Mum)-TP
  • Tax Payer : Capgemini India Pvt Ltd

ITAT: Excludes 8 comparables for failing upper turnover filter; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-120-ITAT-2023(Bang)-TP
  • Tax Payer : Aptean India Pvt. Ltd

ITAT: Prefers TNMM to PSM for benchmarking royalty; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-119-ITAT-2023(Bang)-TP
  • Tax Payer : Toyota Kirloskar Auto Parts Pvt. Ltd

ITAT: Remits issue of considering cash profit for PLI computations; Excludes 5 comparables citing high turnover

  • In Favour of Both, Partially
  • Citation Number : TS-118-ITAT-2023(Bang)-TP
  • Tax Payer : Mapei Constructions Products (India) Pvt Ltd

ITAT: Holds TPO order barred by limitation; Quashes draft order since assessee not an ‘eligible assessee’

  • In Favour of Assessee
  • Citation Number : TS-116-ITAT-2023(Mum)-TP
  • Tax Payer : Atos India Pvt Ltd

ITAT: Deletes TP-adjustment qua interest on loan given to 100% subsidiary; Follows earlier-order

  • In Favour of Assessee
  • Citation Number : TS-115-ITAT-2023(DEL)-TP
  • Tax Payer : SRF Limited

ITAT: Cannot segregate SEB tariff into various components while computing ALP of sale of power

  • In Favour of Assessee
  • Citation Number : TS-113-ITAT-2023(HYD)-TP
  • Tax Payer : Bharathi Cement Corporation Private Limited

ITAT: Holds draft order passed alongwith demand/penalty notices null & void, follows Perfetti

  • In Favour of Assessee
  • Citation Number : TS-114-ITAT-2023(Kol)-TP
  • Tax Payer : Zydus Healthcare Limited (Successor to Zydus Healthcare Sikkim)

ITAT: Remits comparables for non-application of filters; Excludes 3 calling them giants in IT field

  • In Favour of Assessee
  • Citation Number : TS-109-ITAT-2023(Mum)-TP
  • Tax Payer : Minacs Private Limited (Formerly known as Aditya Birla Minacs Worldwide Limited)

ITAT: Excludes 4 applying upper-turnover filter; Restricts outstanding AE-receivables' interest at LIBOR+3.5%

  • In Favour of Both, Partially
  • Citation Number : TS-110-ITAT-2023(Bang)-TP
  • Tax Payer : Deliverhealth Solutions India Pvt Ltd, (earlier known as Nuance Transcription Services Pvt Ltd)

ITAT: Quashes final assessment order passed beyond one month of DRP direction; Follows precedent

  • In Favour of Assessee
  • Citation Number : TS-111-ITAT-2023(Bang)-TP
  • Tax Payer : ARM Embedded Technologies Pvt Ltd

ITAT: Treats duty drawback as operating, rules on comparables, allows working capital adjustment

  • In Favour of Both, Partially
  • Citation Number : TS-112-ITAT-2023(Bang)-TP
  • Tax Payer : Kirloskar Toyota Textile Machinery Private Limited