ITAT: Rejects re-characterization of Redeemable Preference Shares into loan; Stresses on ‘real-income’ principle

Delhi ITAT, in second round of proceedings, deletes notional interest adjustment on account of re-characterization of Redeemable Preference Shares (RPS) into loan & advances for AYs 2011-12 &

Nov 01, 2018

ITAT: Using foreign name doesn’t mean AE’s brand promotion; AMP-Expense not international transaction

Kolkata ITAT holds that incurrence of AMP expenditure by assessee (performing value added distribution function akin to secondary manufacturing i.e. converting raw materials imported from AEs into pharmaceutical

Oct 29, 2018

ITAT: Deletes TP-adjustment towards leased assets depreciation; Rejects reallocation of expenses between segments

Delhi ITAT deletes TP-adjustment towards depreciation on assets purchased from AE for leasing to independent parties in assessee's 'home base' segment for AY 2008-09; Notes that TPO had

Oct 26, 2018

ITAT: Quashes reopening as merely 'fishing enquiry'; Rejects FOB-based benchmarking for AE-exports

ITAT quashes Sec 148 proceedings seeking to reopen assessment for AY 2010-11 based on DIT(Investigation) report comparing FOB price in India (i.e. assessee’s transfer price of iron ore

Oct 23, 2018

ITAT: Rejects assessee’s adjustment claim citing delay in obtaining RBI permission for ECB

Visakhapatnam ITAT rejects assessee’s claim for adjustment towards Government regulations while determining ALP of payment of bareboat charges and ship management services to AE for AY 2012-13 and

Oct 16, 2018

ITAT: Accepts ALP-determination based on PLI for 6 months period before restructuring

Delhi ITAT upholds CIT(A)’s deletion of Rs.1.27cr TP-adjustment in case of Ericsson Telephone’s India Branch for AY 2002-03; Notes that in the middle of the subject year, assessee restructured

Oct 11, 2018