ITAT: Deletes TP-adjustment on interest-free advances given for equity investment; Rejects FEMA violation plea

Hyderabad ITAT deletes TP-addition made on account of interest free advances granted by assessee to its AEs and subsequently converted into equity for AYs 2008-09 to 2011-12; Noting

May 08, 2018

ITAT: Deletes AMP-adjustment based on mere brand building agreement assumption; Follows Johnson & Johnson

Mumbai ITAT deletes AMP-adjustment for assessee [engaged in manufacturing and marketing of diversified pharmaceutical products] absent any agreement obliging assessee to undertake brand building on AE’s behalf for

May 07, 2018

ITAT: Upholds inclusion of comparables with different FY-ending; Departs from PTC Software HC-ruling view

Mumbai ITAT rules on selection of comparables for assessee providing ITeS/back office support services to AE for AY 2011-12; Upholds exclusion of Accentia Technologies (a KPO service provider)

May 07, 2018

HC: Upholds Rule 10B invocation for allowing capacity under-utilization adjustment to manufacturer assessee

Bombay HC dismisses Revenue’s appeal, upholds ITAT’s invocation of Rule 10B(1)(e)(iii) for allowing capacity utilization adjustment to the assessee (engaged in the business of manufacturing and dealing in

May 07, 2018

HC: ITAT not 'handicapped' to decide issue despite pending earlier-year appeal

Delhi HC rejects ITAT’s remand of issue relating to determination of arm’s length interest on outbound investment in ​redeemable preference shares for AY 2010-11; Noting that TPO’s re-characterization of

May 03, 2018

ITAT: Non-filing of Form 3CEB to report share issue at premium cannot justify reassessment

Mumbai ITAT quashes re-opening of assessment u/s 148 absent any reason to believe that assessee’s income had escaped assessment merely by virtue of receipt of preference share capital

May 03, 2018