ITAT: Rejects WDV based benchmarking of purchase transaction; Accepts customs/DCF/chartered engineer’s valuation

Delhi ITAT upholds DRP-order rejecting TPO’s benchmarking of assessee’s purchase of used cranes on the basis written down value of the cranes for AY 2010-11; Notes that TPO

Apr 28, 2018

HC: Waives Rs.50K costs; Revenue’s writ challenging ITAT-stay not filed in entirely irresponsible manner

Karnataka HC Division Bench allows Revenue’s writ challenging Single Judge’s order imposing costs of Rs.50,000 to be personally recovered from Revenue officers concerned for filing of writ against

Apr 27, 2018

HC: Upholds Brescon, Keynote exclusion considering functional dissimilarity, segmental-data unavailability, extraordinary event impact

Delhi HC dismisses Revenue’s appeal, upholds exclusion of Brescon Corporate Advisors and Keynote Corporate Services as comparables for Chrys Capital Investment Advisors for AY 2006-07; Observes that before

Apr 27, 2018

ITAT: Construes ITAT-appeal against DRP-order as 'first appeal', applies CBDT circular on stay

Kolkata ITAT grants stay of outstanding demand of Rs.6.16cr to Organon (India) for AY 2013-14 for a period of 6 months or till appeal disposal, whichever is earlier,

Apr 26, 2018

ITAT: Mere possibility of separating segments not reason to bifurcate financials arbitrarily

Delhi ITAT upholds DRP’s aggregation of assessee’s distribution & commission segments and application of entity level TNMM for benchmarking analysis for AY 2010-11 following approach adopted by DRP

Apr 26, 2018

ITAT: Remits business division sale transaction to DRP; Clarifies no secondary adjustment for AY 2009-10

Mumbai ITAT remits issue of adjustment made in respect of sale of assessee’s BPO business division by AE to Indian domestic party during AY 2009-10 noting non-adjudication of

Apr 24, 2018