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ASSISTANT COMMISSIONER OF INCOME TAX VS KEC INTERNATIONAL LTD.
BOMBAY TRIBUNAL, Jul 10, 2019

When there is absolutely no risk involved for the assessee in transaction of issuance of performance guarantee to customer of AE on behalf of its AE, assessee is justified...

Subject : Transfer Pricing
Legislation Referred To : Section 36(2)(i)(b), 92CA
In Favour Of : Assessee

EMC SOFTWARE AND SERVICES INDIA PRIVATE LIMITED VS ASSISTANT COMMISSIONER OF INCOME TAX
BANGALORE TRIBUNAL, Jul 03, 2019

In absence of segmental information on SWD services, company engaged in software product should be excluded from the list of comparable companies.

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Assessee

ASSISTANT COMMISSIONER OF INCOME TAX & ORS. VS SKODA AUTO INDIA PVT. LTD. & ORS.
PUNE TRIBUNAL, Jul 02, 2019

While computing ALP wherein adjustments need to be made in the hands of the comparables and where there was difference in level of capacity utilization of assessee and...

Subject : Transfer Pricing
Legislation Referred To : Section 92CA(1) and Rule 10B of Income Tax Rules
In Favour Of : Revenue(Partly)

ACCENTURE SERVICES PVT. LTD. & ORS. VS DEPUTY COMMISSIONER OF INCOME TAX & ORS.
BOMBAY TRIBUNAL, Jun 28, 2019

If the company, though, is selected by the assessee is not found to be functionally similar it has to be rejected.

Subject : Transfer Pricing
Legislation Referred To : Section 10A, 10AA, 92CA
In Favour Of : Assessee(Partly)

PANGEA3 LEGAL DATABASE SYSTEMS PVT. LTD. & ANR. VS ASSISTANT COMMISSIONER OF INCOME TAX & ANR.
BOMBAY TRIBUNAL, Jun 25, 2019

Company having higher turnover as compared to assessee cannot selected as a comparable.

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Assessee(Partly)

SHILPA SHETTY VS ASSISTANT COMMISSIONER OF INCOME TAX
BOMBAY TRIBUNAL, Jun 25, 2019

Where no income has been accrued to or received by assessee u/s 5, no notional income can be brought to tax u/s 92.

Subject : Transfer Pricing
Legislation Referred To : Section 14A, 92, 92C
In Favour Of : Assessee(Partly)

ASSISTANT COMMISSIONER OF INCOME TAX VS STARENT NETWORKS INDIA PVT. LTD.
PUNE TRIBUNAL, Jun 24, 2019

Functionally different company cannot be selected as a comparable.

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Assessee

ERICSSON INDIA PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
DELHI TRIBUNAL, Jun 14, 2019

Rule 10B(1)(a) does not authorize disallowance of any expenditure on the ground that it was not necessary or prudent for the assessee to have incurred the same or that the...

Subject : Transfer pricing
Legislation Referred To : Section 10B(1)(a)
In Favour Of : Matter Remanded

EMERSON ELECTIC COMPANY (INDIA) PRIVATE LIMITED VS ASSISTANT COMMISSIONER OF INCOME TAX
BOMBAY TRIBUNAL, Jun 14, 2019

When all divisions under engineering services segment were engaged in rendering design and engineering services falling under common administration and management control...

Subject : Transfer Pricing
Legislation Referred To : Section 92C(1)
In Favour Of : Assessee

FIRMENICH AROMATICS (INDIA) PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
BOMBAY TRIBUNAL, Jun 07, 2019

1. This appeal filed by the assessee is directed against directions of the DRP-1, Mumbai dated 06-07-2018 issued u/s 144C(5) of the Income-tax Act, 1961, which, in turn,...

Legislation Referred To : Section 271(i)(c), 234B, 92C, 37(1), 36(1)(viia), 143(3), 144C(5)
In Favour Of : Assessee

INA BEARINGS INDIA PVT. LTD. & ANR. VS DEPUTY COMMISSIONER OF INCOME TAX & ANR.
PUNE TRIBUNAL, Jun 07, 2019

Calculation of ‘Operating profit’ as envisaged under Rule 10B(1)(e) embraces cumulative effect of all items of income and expenses which were of operating nature.

Subject : Transfer Pricing
Legislation Referred To : Section 92C(2) and Rule 10B(1)(e) of Income Tax Rules
In Favour Of : Assessee(Partly)

RANDOX LABORATORIES (INDIA) P. LTD. & ANR. VS INCOME TAX OFFICER & ANR.
BOMBAY TRIBUNAL, Jun 07, 2019

1. Aforesaid cross appeals arise out of the final assessment order dated 6th February 2015, passed under section 143(3) r/w section 144C(13) of the Income Tax Act, 1961...

Legislation Referred To : Section 92C, 143(3), 144C(13)
In Favour Of : Assessee

PMP AUTO COMPONENTS PVT. LTD. & ORS. VS DEPUTY COMMISSIONER OF INCOME TAX & ORS.
BOMBAY TRIBUNAL, May 24, 2019

Since High Court has confirmed the amount of guaranty commission @ 0.5% of the guarantee amount, it would be reasonable to determination the Arm's Length Price (ALP) in...

Subject : Transfer Pricing
Legislation Referred To : Section 43B, 92CA
In Favour Of : Assessee

ADIDAS INDIA MARKETING PVT. LTD. & ORS. VS INCOME TAX OFFICER & ORS.
DELHI TRIBUNAL, May 21, 2019

Existence of international transaction must be established de hors the BLT before undertaking bench marking of AMP expenses.

Subject : International Transaction
Legislation Referred To : Section 36(1)(iii), 36(1)(vii), 92B(1)
In Favour Of : Assessee(Partly)

DONGFANG ELECTRIC CORPORATION VS ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)
KOLKATA TRIBUNAL, May 17, 2019

The controlled and uncontrolled transactions are comparable if none of the differences between transactions materially affect the factor being examined in a given...

Subject : Transfer Pricing
Legislation Referred To : Section 143(3), 144C(13), 92CA(1)
In Favour Of : Assessee

RITTAL INDIA PVT. LTD. VS DEPUTY COMMISSIONER OF INCOME TAX
BANGALORE TRIBUNAL, May 17, 2019

When there is a lack of clarity while selecting comparables on different TP aspects, same calls for de novo adjudication.

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Matter Remanded

ORGANON (INDIA) LIMITED VS ASSISTANT COMMISSIONER OF INCOME TAX
KOLKATA TRIBUNAL, May 15, 2019

When there is no profit element involved in the transactions representing remittance made towards purchase of licence software for use by the assessee, which was taxable in...

Subject : Business expenditure
Legislation Referred To : Section 40(a)(ia), 92CA(1), 195
In Favour Of : Assessee(Partly)

FORCE 10 NEWTORKS INDIA PVT. LTD. VS DEPUTY COMMISSIONER OF INCOME TAX
BANGALORE TRIBUNAL, May 15, 2019

Functionally dissimilar companies cannot be treated as good comparables.

Subject : Transfer Pricing
Legislation Referred To : Section 92C(3)
In Favour Of : Assessee(Partly)

PYRAMID IT CONSULTING P LTD. & ANR. VS ADDITIONAL COMMISSIONER OF INCOME TAX & ANR.
HIGH COURT OF DELHI, May 14, 2019

Mere exclusion or inclusion of a comparable may not per se give rise to any substantial question of law, but when there is only one comparable on the basis of which the...

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Assessee

KAPLAN INDIA PVT. LTD. & ANR. VS INCOME TAX OFFICER & ANR.
DELHI TRIBUNAL, May 10, 2019

Functionally different companies cannot be treated as good comparables.

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Assessee(Partly)