2024 treating resolution prof delhi versus final itat order drp tested title transfer hormone act high need chennai hyundai assessees types 60 dissimilarity tsh interest selection pricingassessees jntucea expense functional

Articles for Tpo, search results for itat

Transfer Pricing-Assessee's Objections On 'Functional Dissimilarity' Not Adjudicated: Delhi HC Asks TPO To Determine Comparable Entity Afresh
1 month ago

Transfer Pricing-Assessee's Objections On 'Functional Dissimilarity' Not Adjudicated: Delhi HC Asks TPO To Determine Comparable Entity Afresh

Live Law  

The Delhi High Court recently directed a Transfer Pricing Officer to determine afresh the inclusion of a comparable entity with respect to an assessee, this time taking into consideration the latter's objections on 'functional dissimilarity' of the two. A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma ruled, “Assessee's contention that E4e Healthcare is functionally dissimilar to the …

Healthcare Court Services High Itat Functional Assessee
ITAT Half Yearly Digest: January To June 2024 - PART I
5 months, 2 weeks ago

ITAT Half Yearly Digest: January To June 2024 - PART I

Live Law  

S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT Case Title: Asstt. Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT Case Title: Vishram Sahakari Awas Samiti Limited verses ITO On finding that no addition is made based …

India Delhi Kolkata Tax Indian Income Tax Title
Final Assessment Made By AO After Expiry Of One Month Of Receiving Directions From Dispute Resolution Panel, Is Time Barred: Chennai ITAT
7 months ago

Final Assessment Made By AO After Expiry Of One Month Of Receiving Directions From Dispute Resolution Panel, Is Time Barred: Chennai ITAT

Live Law  

The Chennai ITAT recently held that the final assessment order dated Nov 21, 2017 passed after expiry of one month from the end of the month in which the DRP directions were received by the Revenue is barred by limitation and hence, “passed wholly without jurisdiction and therefore, null in the eyes of law”. Section 144C of Income tax Act …

Assessment Order Month Department Bench Final One Month
Ahmedabad ITAT Explains Difference Between Letter Of Credit From Corporate Guarantee
7 months, 3 weeks ago

Ahmedabad ITAT Explains Difference Between Letter Of Credit From Corporate Guarantee

Live Law  

While upholding ALP adjustment on LOC in case of Axis Bank, the Ahmedabad ITAT rules on difference between letter of comfort and guarantee commission. With respect to LOC being equated to bank guarantees, the Bench comprising Annapurna Gupta and T.R Senthil explains that bank guarantee is a kind of guarantee from a lending organization to cover a debtor's liabilities if …

Bank Case Bench Loc Itat Guarantee Boi
No ALP On AMP Expense Is Warranted In Absence Of Agreement Between Assessee And Its AE For Service W.r.t Brand Promotion Activity: Chennai ITAT
9 months, 1 week ago

No ALP On AMP Expense Is Warranted In Absence Of Agreement Between Assessee And Its AE For Service W.r.t Brand Promotion Activity: Chennai ITAT

Live Law  

The Chennai ITAT deleted the ALP adjustment made towards The Bench comprising Mahavir Singh and Manoj Kumar Aggarwal on identical issue, noted that the Coordinate bench in assessee's own cases for AYs 2012-13 and 2016-17 deleted the adjustment holding that there was no formal agreement or arrangement between assessee and its AEs for rendering of service w.r.t alleged brand promotion …

Brand Bench Hyundai Itat Assessee Expense Its Ae
Segregation Of Contract Manufacturing Activity And Distribution Is Fair And Reasonable: Mumbai ITAT
9 months, 1 week ago

Segregation Of Contract Manufacturing Activity And Distribution Is Fair And Reasonable: Mumbai ITAT

Live Law  

The Mumbai ITAT rejected the assessee's own recharacterization as value added distributor and upheld the CUP method to benchmark import of Active Pharmaceutical Ingredients. The Bench comprising Vikas Awasthy and Gagan Goyal observed that “segregation of Contract Manufacturing activity and Distribution is fair and reasonable. The TPO rejected assessee's TNMM and adopted CUP method as MAM, collecting data from Customs …

Bench Cup Distribution Assessee Mam Tpo Mumbai Itat
Business Restructuring Amongst Foreign Group Entities To Eliminate Duplicate Corporate Procedure Is 'International Transaction' U/s 92B: Mumbai ITAT
9 months, 1 week ago

Business Restructuring Amongst Foreign Group Entities To Eliminate Duplicate Corporate Procedure Is 'International Transaction' U/s 92B: Mumbai ITAT

Live Law  

The Mumbai ITAT ruled that as per Explanation to section 92B of the Income tax Act, the transaction of business restructuring shall be considered an international transaction, irrespective of the fact whether it has a bearing on the profit, income, losses, or assets of such enterprises. The ITAT also upheld the disallowance of interest on Compulsory Convertible Debentures and treatment …

Scheme Bench Merger Paid Transaction Itat Assessee
No Adjustment If Margin Falls Within Tolerance Range Of (+/-) 5% As Per Sec 92CA: Mumbai ITAT
10 months, 2 weeks ago

No Adjustment If Margin Falls Within Tolerance Range Of (+/-) 5% As Per Sec 92CA: Mumbai ITAT

Live Law  

Finding that the margins of assessee company fell within the tolerance limit of +/-5% for AY 2005-06, the Mumbai ITAT deleted the ALP adjustments proposed by the TPO in ITEs as well as IT segments. In that case, in ITES segment margin shown by the assessee and margin which has been determined falls within the tolerance limit of +/- 5% …

Sec Bench Margin Pli Segment Itat Assessee
Comparable Need Selection As Per Correct Market Segment: Delhi ITAT Remits Matter Following Earlier Order
10 months, 2 weeks ago

Comparable Need Selection As Per Correct Market Segment: Delhi ITAT Remits Matter Following Earlier Order

Live Law  

Relying on Co-ordinate bench ruling in assessee's own case for AY 2004-05 wherein assessee's additional evidences were admitted and matter was remanded back to TPO for fresh adjudication, the Delhi ITAT admitted the assessee's additional evidence application qua comparables selection for AY 2005-06 and 2006-07. The ITAT Coram comprising Shamim Yahya and Anubhav Sharma observed that “either both TPO and …

Services Coram Itat Assessee Tpo
ITAT Dirests ALP Computation Towards Guarantee Commission @ 0.3523% In Case Of Macrotech Developers
1 year, 1 month ago

ITAT Dirests ALP Computation Towards Guarantee Commission @ 0.3523% In Case Of Macrotech Developers

Live Law  

The Mumbai Bench of Income Tax Appellate Tribunal has directed the ALP Computation Towards Guarantee Commission at a rate of 0.3523% in the case of Macrotech Developers.The bench of Kuldip Singh and Padmavathy S. has observed that the rate of guarantee commission is required to be determined on the basis of the credit rating of the issuer company. The Mumbai …

Case Commission Rate Given Itat Guarantee Assessee
Delhi High Court Upholds ITAT’s Decision On Selection Of Comparables For Determination Of Arm’s Length Price Of An International Transaction
1 year, 1 month ago

Delhi High Court Upholds ITAT’s Decision On Selection Of Comparables For Determination Of Arm’s Length Price Of An International Transaction

Live Law  

The Delhi High Court had upheld the decision of the Income Tax Appellate Tribunal on the selection of comparables for the determination of the arm’s length price of an international transaction.The Bench of Justice Rajiv Shakdher and Justice Girish Kathpalia observed that the Tribunal not only followed the previous orders mentioned above to maintain consistency but also examined. The Delhi …

High Court Order Price Tribunal Transaction Itat Assessee
ALP Of The ESOP Expenses Cannot Be Taken As ‘Nil’: ITAT
1 year, 2 months ago

ALP Of The ESOP Expenses Cannot Be Taken As ‘Nil’: ITAT

Live Law  

The Mumbai Bench of Income Tax Appellate Tribunal has held that the arm's-length price of the employee stock option plan expenses cannot be taken as ‘Nil’.The bench of Rahul Chaudhary and S. Rifaur Rahman has observed that the transfer pricing addition of INR 26,53,078 is, therefore, set aside, and the TPO/Assessing Officer is. The Mumbai Bench of Income Tax Appellate …

Expenses Employee Inr Itat Appellant Esop Tpo
TNMM Should Be Applied In Respect Of International Transaction Of `Sale Of Finished Goods’: ITAT
1 year, 3 months ago

TNMM Should Be Applied In Respect Of International Transaction Of `Sale Of Finished Goods’: ITAT

Live Law  

The Pune bench of the Income Tax Appellate Tribunal has held that the Transactional Net Margin Method should be applied in respect of international transactions of `Sale of finished goods’.The bench of R.S. The Pune bench of the Income Tax Appellate Tribunal has held that the Transactional Net Margin Method should be applied in respect of international transactions of `Sale …

International Sale Method Huge Transaction Applied Tnm
Assessing Officer Cannot Apply Wrong Method In Absence Of Audited Financials Of AE: Delhi ITAT
2 years, 7 months ago

Assessing Officer Cannot Apply Wrong Method In Absence Of Audited Financials Of AE: Delhi ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal consisting of Yogesh Kumar and Dr. B.R.R. Subsequently, a draft assessment order under section 143 read with section 144C of the Income Tax Act was passed, proposing Transfer Pricing Adjustment on the basis of TPO's order. An assessment order was passed under section 143 read with section 144C of the Income …

Tax Assessment Order Income Financials Tribunal Act