Rulings ( 10522 results )

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Income tax Appellate Tribunal

ITAT: Restricts corporate guarantee fee to 0.5%; Follows catena of rulings

Oct 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-432-ITAT-2024(Mum)-TP
  • Tax Payer : Tata Projects Limited
Income tax Appellate Tribunal

ITAT: Revenue cannot seek extended-limitation benefit u/s.153(4) once HC quashes TPO-reference

Oct 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-430-ITAT-2024(Mum)-TP
  • Tax Payer : HDFC Bank Ltd
Income tax Appellate Tribunal

ITAT: Quashes PCIT's revisionary order being passed without valid jurisdiction, considers amended Sec.263

Oct 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-429-ITAT-2024(CHNY)-TP
  • Tax Payer : Philips Foods India Private Limited
Income tax Appellate Tribunal

ITAT: Directs AO to apply LIBOR+200 points for benchmarking interest on receivables; Follows earlier order

Oct 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-427-ITAT-2024(HYD)-TP
  • Tax Payer : ADP Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua interest on receivables, notes assessee's margin higher than comparables

Oct 03, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-428-ITAT-2024(DEL)-TP
  • Tax Payer : GKN Driveline India Ltd
Income tax Appellate Tribunal

ITAT: Assessee cannot argue non-existence of amalgamating entity whose PAN continued for litigation-purposes

Oct 03, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-426-ITAT-2024(HYD)-TP
  • Tax Payer : Microchip Technology (India) Pvt Ltd
High Court

HC: One month timeline a red line for AO, notwithstanding assessee's DRP objection delay

Oct 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-425-HC-2024(DEL)-TP
  • Tax Payer : MAVENIR UK HOLDINGS
Income tax Appellate Tribunal

ITAT: Dismisses Revenue’s appeal against CIT(A) deleting TP-addition for purchase of Tendu leaves

Oct 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-423-ITAT-2024(Ahd)-TP
  • Tax Payer : Chhotabhai Jethabhai Patel & Co
Income tax Appellate Tribunal

ITAT: Finds CIT(A)-order deleting TP adjustment qua payment of export commission as well reasoned

Oct 01, 2024
  • In Favour of Assessee
  • Citation Number : TS-424-ITAT-2024(DEL)-TP
  • Tax Payer : Kamla Dials and Devices Ltd
Income tax Appellate Tribunal

ITAT: Deletes 271G-penalty for Twentieth Century Fox; No finding w.r.t inaccuracy of information

Sep 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-422-ITAT-2024(Mum)-TP
  • Tax Payer : Twentieth Century Fox Telecommunications International Inc
High Court

HC: Quashes final assessment order passed despite pendency of rectification application before DRP

Sep 30, 2024
  • In Favour of Assessee
  • Citation Number : TS-421-HC-2024(KAR)-TP
  • Tax Payer : Mavenir Systems Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal on exclusion of Infosys and TCS as comparables

Sep 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-419-HC-2024(DEL)-TP
  • Tax Payer : E-Valueserve SEZ (Gurgaon) P Ltd
High Court

HC: Affirms ITAT-order, channel/content owner companies incomparable to assessee's distribution segment

Sep 25, 2024
  • In Favour of Assessee
  • Citation Number : TS-420-HC-2024(DEL)-TP
  • Tax Payer : Warnermedia India Private Limited
Income tax Appellate Tribunal

ITAT: Confirms deletion of TP-adjustment qua interest on loan and corporate guarantee

Sep 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-417-ITAT-2024(DEL)-TP
  • Tax Payer : Jindal Pipes Ltd
Income tax Appellate Tribunal

ITAT: Remits final assessment order, directs AO to incorporate DRP's direction

Sep 23, 2024
  • In Favour of Assessee
  • Citation Number : TS-418-ITAT-2024(DEL)-TP
  • Tax Payer : Honda R & D (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Admits additional ground, restricts TP-adjustment to international transactions only

Sep 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-416-ITAT-2024(Mum)-TP
  • Tax Payer : Deutsche Networks Services Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment w.r.t interest on receivables, TPO did not show how AEs benefitted

Sep 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-415-ITAT-2024(CHNY)-TP
  • Tax Payer : Sanmina-SCI India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes SDT adjustment owing to Finance Act 2017 amendment to Sec.92BA

Sep 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-413-ITAT-2024(Ahd)-TP
  • Tax Payer : Asiatic Colour Chem Ind Ltd
High Court

HC: Dismisses Revenue’s appeal against ITAT-order deleting penalty u/s. 271(1)(c)

Sep 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-414-HC-2024(DEL)-TP
  • Tax Payer : Yum Restaurant Marketing Pvt Ltd
High Court

HC: Dismisses Revenue’s appeal challenging quashing of Sec.263-order for Dell International

Sep 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-412-HC-2024(KAR)-TP
  • Tax Payer : Dell International Services India Private Limited