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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

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)

VOLVO INDIA PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX (LTU)
BANGALORE TRIBUNAL, May 08, 2019

Provisions of section 144C override the provisions of section 153 of the Act.

Subject : Assessment
Legislation Referred To : Section 32(1)(ii), 43(1), 144C(13), 153
In Favour Of : Assessee(Partly)

AGILEN TECHNOLOGIES (INTERNATIONAL) PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
DELHI TRIBUNAL, May 06, 2019

Corporate entity having a significant brand presence for profits and large corporate size cannot be good comparable with companies having lower profitability.

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

PRINCIPAL COMMISSIONER OF INCOME TAX VS ROYAL AND SUN ALLIANCES IT SOLUTIONS (INDIA) PVT. LTD.
HIGH COURT OF DELHI, Apr 29, 2019

AO cannot impose penalty u/s 271(1)(c) merely on the basis on TP adjustment which was made by TPO without carrying out independent analysis with comparable uncontrolled...

Subject : Transfer Pricing
Legislation Referred To : Section 92C(4), 271(1)(c)
In Favour Of : Assessee

VODAFONE IDEA LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX & ORS.
HIGH COURT OF DELHI, Apr 29, 2019

Till the remand directed by the ITAT is worked out and a report on that aspect is received, the ITAT’s observations tend to indicate finality and shall in no way be...

Subject : Transfer Pricing
Legislation Referred To : null
In Favour Of : Revenue

ISG NOVASOFT TECHNOLOGIES LTD. VS DEPUTY COMMISSIONER OF INCOME TAX
BANGALORE TRIBUNAL, Apr 29, 2019

Functionally dissimilar companies cannot be treated to be good comparable.

Subject : Transfer Pricing
Legislation Referred To : Section 32(1)(i), 43B, 92CA

WALTER TOOLS INDIA PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
PUNE TRIBUNAL, Apr 29, 2019

Where the management services have actually been rendered, the arm's length price of such transaction cannot be taken at Nil.

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

CITIZEN WATCHES (INDIA) P. LTD. & ANR. VS ASSISTANT COMMISSIONER OF INCOME TAX & ANR.
BANGALORE TRIBUNAL, Apr 25, 2019

When in earlier years assessee has adopted RPM as MAM to determined ALP of its international transaction then, same cannot be disputed in year under consideration.

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

S&P CAPITAL IQ (INDIA) PRIVATE LIMITED VS DEPUTY COMMISSIONER OF INCOME TAX
HYDERABAD TRIBUNAL, Apr 24, 2019

Functionally different companies cannot be treated as good comparables.

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