ITAT: Upholds TPO's power to suggest alternate TP-adjustments in remand report pursuant to DRP-direction

Mumbai ITAT confirms DRP’s AMP-adjustment deletion but upholds jurisdiction of TPO to suggest alternate adjustments of royalty and intra-group services pursuant to DRP calling for remand report on AMP-issue in

Sep 28, 2018

ITAT: Emphasizes on functional over product similarity; Capacity adjustment permissible to tested-party's PLI

Bangalore ITAT rules on selection of comparables, grant of capacity and working capital adjustments and treatment of forex fluctuation etc. in respect of export of finished goods

Sep 27, 2018

ITAT: Microsoft’s 113 patentable inventions through software development in India clinches characterization as contract R&D

Delhi ITAT rejects Microsoft India R&D's classification of its software segment as ‘routine software developer’ engaged only in testing & coding at lower level for its ultimate parent

Sep 20, 2018

HC: Upholds 10 times turnover range application; 'Blindly' following rulings with different view, unwarranted

Karnataka HC upholds ITAT-order on comparables selection for ITeS-provider assessee for AY 2006-07; Upholds ITAT’s exclusion of Mercury Outsourcing Management by applying 10 times turnover range, rejects assessee’s reliance

Sep 12, 2018

HC: Quashes final assessment sans draft order post-remand, directs AO to re-do assessment

Delhi HC allows assessee's writ, quashes final assessment order passed without issuing a draft order, however, directs AO to complete assessment u/s 144C in accordance with law; Pursuant

Sep 04, 2018

HC: Dismisses Revenue’s appeal; Upholds ITAT-order invalidating TP-adjustment absent TPO reference

Bombay HC dismisses Revenue’s appeal, upholds ITAT-order invalidating TP-adjustment made without reference to TPO (where value of international transaction exceeded Rs.5cr) for AY 2005-06; ITAT had held that

Aug 31, 2018