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ITAT: Upholds CIT(A)’s restriction of corporate guarantee ALP to 0.5%; Follows precedents

  • In Favour of Both, Partially
  • Citation Number : TS-158-ITAT-2020(Mum)-TP
  • Tax Payer : Aditya Birla Nuvo Limited

ITAT:Appeal non-filing doesn’t tantamount to acceptance of TP-adjustment; Deletes sec.271(1)(c) penalty

  • In Favour of Assessee
  • Citation Number : TS-157-ITAT-2020(DEL)-TP
  • Tax Payer : Honda Trading Corporation India Pvt Ltd

HC: Dismisses Revenue’s appeal challenging ITAT’s comparables selection absent substantial question of law

  • In Favour of Assessee
  • Citation Number : TS-156-HC-2020(BOM)-TP
  • Tax Payer : Eight Roads Investment Advisors Pvt Ltd (Formerly known as FIL Capital Advisors India Pvt. Ltd.)

ITAT: Rejects Nil-ALP determination for intra-group services sans prescribed method application; Turns down ‘Benefit-test’

  • In Favour of Assessee
  • Citation Number : TS-155-ITAT-2020(Mum)-TP
  • Tax Payer : Millward Brown Market Research Services India Private Limited

ITAT: Excludes Government entities, companies with high-RPT and functional dissimilarity for channel distributor

  • In Favour of Both, Partially
  • Citation Number : TS-152-ITAT-2020(Mum)-TP
  • Tax Payer : NGC NETWORK (INDIA) PRIVATE LIMITED

ITAT: Includes comparable meeting turnover criteria and absent DRP’s comment on functional disparity

  • In Favour of Assessee
  • Citation Number : TS-151-ITAT-2020(Mum)-TP
  • Tax Payer : Schindler India Private Limtied

ITAT: Excludes Ladderup, Motilal Oswal for non-binding investment advisor; Follows precedents

  • In Favour of Assessee
  • Citation Number : TS-150-ITAT-2020(Mum)-TP
  • Tax Payer : Kitara Capital Pvt. Ltd

ITAT: Assessment on non-existing amalgamated entity voi-ab-initio & unsustainable; Follows Maruti Suzuki SC-ruling

  • In Favour of Assessee
  • Citation Number : TS-149-ITAT-2020(Mum)-TP
  • Tax Payer : Siemens Limited (Successor in Interest to Siemens VIA Metals Technologies Private Limited)

ITAT: Rejects Nil-ALP for services provided by AE; Disallowance u/s.37 beyond TPO's jurisdiction

  • In Favour of Assessee
  • Citation Number : TS-148-ITAT-2020(DEL)-TP
  • Tax Payer : Motorola Mobility Chennai Pvt Ltd

ITAT: Rules on comparables selection for software developer; Treats FOREX as operating item

  • In Favour of Both, Partially
  • Citation Number : TS-147-ITAT-2020(Bang)-TP
  • Tax Payer : BrocadeCommunications Systems Pvt Ltd

ITAT: Deletes TP-adjustment towards interest on receivables for debt-free assessee; Follows Bechtel HC-ruling

  • In Favour of Assessee
  • Citation Number : TS-146-ITAT-2020(DEL)-TP
  • Tax Payer : VOSSLOH BEEKAY CASTINGS LTD

ITAT: Excludes comparables citing functional dissimilarity, outsourcing of work, extraordinary event for ITeS-provider

  • In Favour of Assessee
  • Citation Number : TS-145-ITAT-2020(Mum)-TP
  • Tax Payer : Travelex India Private Limited

ITAT:Admits additional evidence; Remits TP-adjustment on account of cost reimbursement

  • In Favour of Assessee
  • Citation Number : TS-144-ITAT-2020(Mum)-TP
  • Tax Payer : Kodak India Pvt Ltd (Formerly Kodak India Ltd.)

ITAT: Confirms interest-adjustment on OFCDs at LIBOR+ spread; Fixes corporate guarantee ALP at 1%

  • In Favour of Both, Partially
  • Citation Number : TS-142-ITAT-2020(CHNY)-TP
  • Tax Payer : Siva Ventures Ltd (Now Merged with M/s.Siva Industries & Holdings Ltd.)

ITAT: MPS Ltd’s high end KPO activities incomparable to assessee’s BPO services; Excludes comparable

  • In Favour of Assessee
  • Citation Number : TS-141-ITAT-2020(PUN)-TP
  • Tax Payer : Symantec Software India Private Limited

ITAT: Excludes 8 comparables citing high turnover, functional dissimilarity for software developer

  • In Favour of Assessee
  • Citation Number : TS-140-ITAT-2020(Bang)-TP
  • Tax Payer : Mformation Software Technologies (I) Pvt Ltd

ITAT: Upholds CIT(A)’s adoption of internal TNMM; Excludes 3 comparables for ITeS-provider

  • In Favour of Assessee
  • Citation Number : TS-139-ITAT-2020(Bang)-TP
  • Tax Payer : E4E Business Solutions India Pvt Ltd

ITAT: Upholds internal-TNMM for purchase transactions; Deletes TP-adjustment on corporate support services payments

  • In Favour of Assessee
  • Citation Number : TS-138-ITAT-2020(PUN)-TP
  • Tax Payer : Eaton Fluid Power Limited

ITAT: Remits issue of selection of MAM and ALP-determination for advisory-services, follows precedents

  • In Favour of Assessee
  • Citation Number : TS-137-ITAT-2020(PUN)-TP
  • Tax Payer : Emerson Climate Technologies (India) Private Limited

ITAT: Upholds deletion of Acer India’s AMP-adjustment; Follows subsequent year order

  • In Favour of Assessee
  • Citation Number : TS-136-ITAT-2020(Bang)-TP
  • Tax Payer : Acer India Pvt Ltd