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Income tax Appellate Tribunal Latest

ITAT: Deletes royalty adjustment made solely on basis of differences in global accounting policies

Jun 28, 2024
  • In Favour of Assessee
  • Citation Number : TS-260-ITAT-2024(Mum)-TP
  • Tax Payer : GE Subsidiary Inc, 63
Income tax Appellate Tribunal

ITAT: Holds turnover as relevant criteria for selecting comparables; Applies range at 10 times

Jun 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-259-ITAT-2024(HYD)-TP
  • Tax Payer : Triniti Advanced Software Labs Private Limited
High Court

HC: Remands matter, notes Tribunal's non-consideration of Revenue's issues qua risk adjustment, guarantee commission

Jun 27, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-258-HC-2024(KER)-TP
  • Tax Payer : Olam Agro India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds CIT(A)'s restriction of corporate guarantee adjustment @ 1% instead of TPO's 2%

Jun 27, 2024
  • In Favour of Assessee
  • Citation Number : TS-943-ITAT-2022(COCH)-TP
  • Tax Payer : Olam Agro India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Upholds rejection of Bundy-India's TP-study using multiple-year data, rules on comparables

Jun 26, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-256-ITAT-2024(Ahd)-TP
  • Tax Payer : BUNDY INDIA LIMITED
Income tax Appellate Tribunal

ITAT: Deletes guarantee adjustment citing no financial burden; Rejects TPO's berry-ratio for sale/purchase

Jun 26, 2024
  • In Favour of Assessee
  • Citation Number : TS-257-ITAT-2024(JPR)-TP
  • Tax Payer : Vaibhav Global Limited
High Court

HC: Quashes assessment order despite lapse in intimating AO about objections before DRP

Jun 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-254-HC-2024(KAR)-TP
  • Tax Payer : Zoomrx Healthcare Technology Solutions Private Limited
Income tax Appellate Tribunal

ITAT: Adjudicates on TP issues including SDTs, international transaction, economic and depreciation adjustment

Jun 25, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-255-ITAT-2024(CHNY)-TP
  • Tax Payer : HSI Automotive Private Limited
Income tax Appellate Tribunal

ITAT: CIT(A) fails to adjudicate various TP grounds on merit; Remits matter

Jun 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-252-ITAT-2024(HYD)-TP
  • Tax Payer : Computer Sciences Corporation India Private Limited
Income tax Appellate Tribunal

ITAT: Dismisses appeals on software services, guarantees and loans; Follows earlier orders

Jun 24, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-253-ITAT-2024(Mum)-TP
  • Tax Payer : Tata Consultancy Services Ltd
High Court

HC: Sets aside order mistakenly formatted as final order; Quashes penalty, demand notice

Jun 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-755-HC-2023(MAD)-TP
  • Tax Payer : GE Power Conversation India Private Limited
High Court

HC: Confirms ITAT’s exclusion of 4 comparables absent question of law

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-754-HC-2023(DEL)-TP
  • Tax Payer : Reservation Data Maintenance India Pvt. Ltd
High Court

HC: Quashes TPO’s unsigned order barred by limitation and consequent draft assessment order

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-251-HC-2024(KAR)-TP
  • Tax Payer : Toyota Tausho India Private Limited
High Court

HC: Admits Assessee’s appeal, Tribunal to relook scope and ambit of its power u/s. 254

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-753-HC-2023(DEL)-TP
  • Tax Payer : UOP India Pvt Ltd
Income tax Appellate Tribunal

ITAT: TPO’s rectification order, assessee’s rejected application for rectification appealable u/s.246A, albeit distinctly

Jun 20, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-250-ITAT-2024(Kol)-TP
  • Tax Payer : Philips India Limited
Income tax Appellate Tribunal

ITAT: Deletes AMP-addition for Nissan Motor India made in conflict with APA

Jun 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-249-ITAT-2024(CHNY)-TP
  • Tax Payer : Nissan Motor India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Directs 6% interest on receivables; Rules on comparables selection

Jun 19, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-247-ITAT-2024(HYD)-TP
  • Tax Payer : Clinasia Labs Private Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment qua interest on NCDs, TPO failed to consider DRP's directions

Jun 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-248-ITAT-2024(DEL)-TP
  • Tax Payer : Amplus Power Solutions P. Ltd
High Court

HC: Dismisses Revenue’s appeal; Confirms restriction of TP adjustment to international transaction only

Jun 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-752-HC-2023(BOM)-TP
  • Tax Payer : Spicer India Ltd
Income tax Appellate Tribunal

ITAT: Excludes comparables under EDS, IT and ITeS segments; Cites financial irregularities, high turnover etc

Jun 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-245-ITAT-2024(CHNY)-TP
  • Tax Payer : Caterpillar India Pvt Ltd