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Income tax Appellate Tribunal

ITAT: Deletes interest addition on advance made to Tata's Dubai-AE for complying with regulatory requirement

Jun 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-239-ITAT-2024(Mum)-TP
  • Tax Payer : Tata International Limited
Income tax Appellate Tribunal

ITAT: Deletes 'adhoc' royalty adjustment for Siemens Aktiengesellshaft; No defect found in TP-analysis

Jun 13, 2024
  • In Favour of Assessee
  • Citation Number : TS-236-ITAT-2024(Mum)-TP
  • Tax Payer : Siemens Aktiengesellshaft
Income tax Appellate Tribunal

ITAT: Rectifies mistake, directs computation of interest on loan fund after considering LIBOR/EUROLIBOR

Jun 12, 2024
  • In Favour of Revenue
  • Citation Number : TS-233-ITAT-2024(Kol)-TP
  • Tax Payer : Titagarh Wagon Ltd
Income tax Appellate Tribunal

ITAT: Restricts TP-adjustments only to international transactions; Rejects adjustments qua depreciation, custom duty

Jun 12, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-234-ITAT-2024(CHNY)-TP
  • Tax Payer : Daeseung Autoparts India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes adjustments qua equity broking / support services, port-fee charges for Merrill-Lynch entity

Jun 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-235-ITAT-2024(Mum)-TP
  • Tax Payer : Bofa Securities India Limited
Income tax Appellate Tribunal

ITAT: Holds Pfizer Healthcare's assessment as void, TP-proceedings barred by limitation

Jun 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-231-ITAT-2024(CHNY)-TP
  • Tax Payer : Pfizer Healthcare India Private Limited
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment w.r.t SDT; Admits additional evidence for transfer of steam

Jun 11, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-232-ITAT-2024(Mum)-TP
  • Tax Payer : Tata Chemicals Limited
Income tax Appellate Tribunal

ITAT: Quashes assessment order being barred by limitation u/s.144C(13)

Jun 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-229-ITAT-2024(CHNY)-TP
  • Tax Payer : Cognizant Technology Solutions India P. Ltd
Income tax Appellate Tribunal

ITAT: Upholds restriction of guarantee commission @0.2%, being proportionate rate for one FY

Jun 10, 2024
  • In Favour of Assessee
  • Citation Number : TS-230-ITAT-2024(Ahd)-TP
  • Tax Payer : Astral Limited
High Court

HC: Dismisses Revenue's appeal; Cannot consider WDV in AE's books for determining ALP

Jun 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-228-HC-2024(DEL)-TP
  • Tax Payer : Sarens Heavy Lift India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes TP-adjustment qua brand building services; Follows earlier order

Jun 07, 2024
  • In Favour of Assessee
  • Citation Number : TS-226-ITAT-2024(CHNY)-TP
  • Tax Payer : Hyundai Motor India Limited
Income tax Appellate Tribunal

ITAT: Remits adjustment for third-party transactions; Deletes TP-adjustment of interest for debt-free company

Jun 07, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-227-ITAT-2024(DEL)-TP
  • Tax Payer : MCKINSEY KNOWLEDGE CENTRE INDIA PVT. LTD
Income tax Appellate Tribunal

ITAT: Extended time-limit for completing non-resident assessment u/s.144C unavailable sans TPO-reference

Jun 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-225-ITAT-2024(HYD)-TP
  • Tax Payer : Syed Gulam Mohiuddin
Income tax Appellate Tribunal

ITAT: Rules on TP-adjustments qua ITeS, interest on receivables for Satyam Venture

Jun 06, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-224-ITAT-2024(HYD)-TP
  • Tax Payer : Satyam Venture Engineering Services Private Limited
Income tax Appellate Tribunal

ITAT: Rejects downward adjustment for SDT, allows S.80IA deduction; Follows rule of consistency

Jun 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-222-ITAT-2024(RAI)-TP
  • Tax Payer : Bhagwati Power and Steel Limited
Income tax Appellate Tribunal

ITAT: Remits TP-adjustment w.r.t management fee; Benchmarks interest on AE receivables at LIBOR+200 bps

Jun 05, 2024
  • In Favour of Assessee
  • Citation Number : TS-223-ITAT-2024(HYD)-TP
  • Tax Payer : Kantar GDC India Private Limited
Income tax Appellate Tribunal

ITAT: Remits NIL benchmarking of management fee; TPO cannot examine matter w.r.t Sec.37

Jun 04, 2024
  • In Favour of Assessee
  • Citation Number : TS-221-ITAT-2024(Mum)-TP
  • Tax Payer : Naturex India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Rules on comparables; Rectifies mistake in quantum of amortisation per DRP’s direction

Jun 04, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-220-ITAT-2024(CHNY)-TP
  • Tax Payer : iSoft Health Management India Private Limited
Income tax Appellate Tribunal

ITAT: Upholds deletion of TP-addition qua payment of royalty, management fees, IT allocation cost

Jun 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-218-ITAT-2024(Ahd)-TP
  • Tax Payer : Invida India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes SDT-adjustment citing omission of Sec.92BA(i); Applies Texport Overseas HC-ruling

Jun 03, 2024
  • In Favour of Assessee
  • Citation Number : TS-219-ITAT-2024(PUN)-TP
  • Tax Payer : Uttam Energy Limited