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ITAT: Rejects recharacterization of CCDs as equity, holds assessee's 11% coupon rate at ALP

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-531-ITAT-2024(CHNY)-TP
  • Tax Payer : Stahl India Pvt Ltd

HC: Holds further proceedings u/s.153 time-barred, no order passed after ITAT's remand

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-529-HC-2024(DEL)-TP
  • Tax Payer : Huawei Telecommunications (India) Company Private Limited

HC: Sets aside DRP and AO’s orders; Directs TPO to consider APA resolution entered into by assessee

Dec 20, 2024
  • In Favour of Assessee
  • Citation Number : TS-530-HC-2024(DEL)-TP
  • Tax Payer : Steelcase Asia Pacific Holdings India Private Limited

ITAT: Dismisses assessee’s appeal challenging comparable-selection, not granting of custom duty adjustment

Dec 19, 2024
  • In Favour of Revenue
  • Citation Number : TS-526-ITAT-2024(CHNY)-TP
  • Tax Payer : Leitwind Shriram Manufacturing Ltd

HC: Sets aside final assessment order passed while objections pending before DRP

Dec 19, 2024
  • In Favour of Assessee
  • Citation Number : TS-527-HC-2024(DEL)-TP
  • Tax Payer : Jackson Square Aviation Ireland Limited

ITAT: Confirms deletion of Sec.271AA-penalty, notes assessee transacted only with domestic-AE

Dec 18, 2024
  • In Favour of Assessee
  • Citation Number : TS-524-ITAT-2024(Ahd)-TP
  • Tax Payer : Priya Blue Recycling LLP

ITAT: Directs TPO to apply LIBOR for benchmarking outstanding receivables after verifying invoices, risks

Dec 18, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-525-ITAT-2024(Bang)-TP
  • Tax Payer : Concur Technologies India Private Limited

ITAT: Directs exclusion of Infosys BPO, TCS if turnover exceeds Rs.200 crores

Dec 17, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-520-ITAT-2024(Bang)-TP
  • Tax Payer : Robert Bosch Engineering and Business Solutions Ltd

ITAT: Includes comparables which incurred loss for a year; Considers forex loss/gain as operating

Dec 17, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-521-ITAT-2024(CHNY)-TP
  • Tax Payer : Iljin Automotive P. Ltd

ITAT: Confirms CIT(A)’s deletion of Sec.271G-penalty on diamond merchant, follows earlier decision

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-518-ITAT-2024(Mum)-TP
  • Tax Payer : Ankit Gems Pvt Ltd

ITAT: Emphasises on principle of consistency, holds AO erred in not following DRP-directions

Dec 16, 2024
  • In Favour of Assessee
  • Citation Number : TS-519-ITAT-2024(DEL)-TP
  • Tax Payer : Humboldt Wedag India Pvt Ltd

ITAT: Rules on TP-adjustments w.r.t loan-interest & guarantee fee, follows earlier order

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-515-ITAT-2024(Mum)-TP
  • Tax Payer : Rosy Blue (India) Pvt. Ltd

ITAT: Adopts interest @LIBOR+200 points on trade receivables, allows credit period; Follows precedent

Dec 12, 2024
  • In Favour of Assessee
  • Citation Number : TS-516-ITAT-2024(HYD)-TP
  • Tax Payer : Erstwhile Amalgamating Company Sitapuram Power Limited

ITAT: Deletes TP-adjustment qua interest on outstanding receivables, considers assessee's debt-free status

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-513-ITAT-2024(CHNY)-TP
  • Tax Payer : Temenos India Pvt Ltd

HC: Directs ITAT to consider grounds pertaining to TP-adjustment qua purchase of finished goods

Dec 11, 2024
  • In Favour of Assessee
  • Citation Number : TS-514-HC-2024(DEL)-TP
  • Tax Payer : Luxottica India Eyewear Pvt Ltd

ITAT: Quashes assessment order u/s 147 r.w.s. 144C(13) as time-barred absent TPO-reference

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-511-ITAT-2024(HYD)-TP
  • Tax Payer : Mir Ibrahim Ali

ITAT: Imputes ALP-commission on SBLC @ 1% over TPO's 4.01%, considers Everest Kento ruling

Dec 09, 2024
  • In Favour of Assessee
  • Citation Number : TS-512-ITAT-2024(DEL)-TP
  • Tax Payer : ANAND NVH PRODUCTS PRIVATE LIMITED

ITAT: Quashes assessment order passed in non-compliance of Sec.144C, NRI-assessee's attitude immaterial

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-510-ITAT-2024(Mum)-TP
  • Tax Payer : Hasmukh Dipchand Gardi

HC: Dismisses Revenue’s appeal against ITAT-order invalidating TPO-reference qua SDT u/s.92BA(i)

Dec 06, 2024
  • In Favour of Assessee
  • Citation Number : TS-509-HC-2024(KAR)-TP
  • Tax Payer : TT Steel Service India Pvt Ltd

ITAT: Remits adjustment qua marketing & distribution expenses, deletes club-service expenditure adjustment

Dec 05, 2024
  • In Favour of Both, Partially
  • Citation Number : TS-506-ITAT-2024(Bang)-TP
  • Tax Payer : AstraZeneca Pharma India Ltd