Rulings ( 10049 results )

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High Court

HC: Disposes of appeal against Tribunal’s order deleting corporate-guarantee adjustment; Follows precedent

Jan 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-23-HC-2024(CAL)-TP
  • Tax Payer : Hindusthan National Glass & Industries Limited
High Court

HC: Quashes time barred assessment; Directs release of refund adjusted against inexistent demand in 3 weeks

Jan 31, 2024
  • In Favour of Assessee
  • Citation Number : TS-22-HC-2024(DEL)-TP
  • Tax Payer : Readers Digest Book and Home Entertainment India P Ltd
Income tax Appellate Tribunal

ITAT: Deletes interest on share application money pending allotment; Follows earlier order

Jan 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-20-ITAT-2024(Mum)-TP
  • Tax Payer : Strides Pharma Science Ltd
High Court

HC: Directs AO to pass assessment order pursuant to ITAT remand within statutory timeline

Jan 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-748-HC-2023(DEL)-TP
  • Tax Payer : Aircom International (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment qua sale of power u/s 80IA; Follows earlier order

Jan 29, 2024
  • In Favour of Assessee
  • Citation Number : TS-18-ITAT-2024(Mum)-TP
  • Tax Payer : Birla Corporation Limited
High Court

HC: Condones delay of 1692 days basis TPO’s failure to communicate remarks to CIT

Jan 29, 2024
  • In Favour of Revenue
  • Citation Number : TS-19-HC-2024(MAD)-TP
  • Tax Payer : Doowan Automatic System India Pvt Ltd
High Court

HC: Closes assessee’s appeal on comparables’-selection and receivables adjustment issue

Jan 25, 2024
  • In Favour of None/NA
  • Citation Number : TS-747-HC-2023(DEL)-TP
  • Tax Payer : Corning SAS-India Branch Office
Income tax Appellate Tribunal

ITAT: Confirms royalty benchmarking under TNMM at entity level; Follows earlier orders

Jan 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-16-ITAT-2024(Bang)-TP
  • Tax Payer : Toyota Kirloskar Motor Private Limited
Income tax Appellate Tribunal

ITAT: Directs AO to give effect to TPO's order u/s. 154 excluding 3 comparables

Jan 24, 2024
  • In Favour of Assessee
  • Citation Number : TS-17-ITAT-2024(Mum)-TP
  • Tax Payer : Maersk global Service Center India P Ltd
Income tax Appellate Tribunal

ITAT: Deletes notional interest on AE receivables, share application money; Applies rule of consistency

Jan 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-15-ITAT-2024(Mum)-TP
  • Tax Payer : Strides Pharma Science Ltd
Income tax Appellate Tribunal

ITAT: Treats forex loss/gains as operating in nature, remits working capital adjustment

Jan 23, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-14-ITAT-2024(CHNY)-TP
  • Tax Payer : LS Automotive India Private Limited
Supreme Court

SC: Dismisses Revenue’s SLP against HC-decision limiting TPO’s jurisdiction to ALP determination

Jan 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-13-SC-2024-TP
  • Tax Payer : LGE & C-NCC
High Court

HC: Confirms Tribunal-order limiting TPO's power to ALP determination alone

Jan 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-510-HC-2014(AP)-TP
  • Tax Payer : LGE & C-NCC
Income tax Appellate Tribunal

ITAT: Remits ALP-determination for IGS, allows (+)/(-) 3% benefit as per proviso to 92C(2)

Jan 22, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-11-ITAT-2024(Ind)-TP
  • Tax Payer : Limagrain India Private Limited
Income tax Appellate Tribunal

ITAT: Assessee's services not KPO; Excludes comparables basis functional dissimilarity, turnover

Jan 22, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-12-ITAT-2024(Mum)-TP
  • Tax Payer : Crisil Limited
Income tax Appellate Tribunal

ITAT: Rejects NIL ALP-determination of shared service charges, deletes TP-adjustment

Jan 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-746-ITAT-2023(Mum)-TP
  • Tax Payer : Michael Page International Recruitment Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts assessee’s TNMM as MAM for royalty-payment, management fees

Jan 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-10-ITAT-2024(Ahd)-TP
  • Tax Payer : Schaeffler India Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of TP-adjustment qua management fee, follows earlier order

Jan 18, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-09-ITAT-2024(Ahd)-TP
  • Tax Payer : INA Bearings India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP adjustment for credit notes issued at year-end; Follows precedent

Jan 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-745-ITAT-2023(DEL)-TP
  • Tax Payer : GSR Industries
High Court

HC: Confirms exclusion of comparables like Accentia Technologies, TSR Darashaw citing amalgamation etc

Jan 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-744-HC-2023(DEL)-TP
  • Tax Payer : Honeywell International (India) Private Limited