ITAT: Revenue can determine assessee's-ALP, despite AE's income acceptance, considering likely base erosion

Bangalore ITAT holds that acceptance of income returned by AEs in their assessment cannot preclude Revenue from examining ALP in the hands of another party to same transaction,

Apr 19, 2018

HC: Questions ITAT's selection of standalone comparable despite being conscious of differences, directs re-examination

Delhi HC rules on assessee’s appeal challenging ITAT’s selection of Modi Care Ltd as standalone comparable under Resale Price Method (RPM) for benchmarking assessee-distributor’s international transaction of purchase

Apr 18, 2018

ITAT: Provision for doubtful debts, a non-operating item; Distinguishes Sony, Kenexa rulings

Bangalore ITAT upholds TPO/DRP’s consideration of provision for doubtful debts as non-operating item while computing profit margins of comparable companies for AY 2013-14; Explains that provision for doubtful

Apr 17, 2018

ITAT: TP-provisions not applicable once transaction held as sham

Delhi ITAT lays down law on applicability of TP-provisions to admitted bogus/sham transaction revolving around assessee’s purchase of drilling Rig from AE on hire purchase basis and return

Apr 17, 2018

ITAT: Foreign partnership firm not ‘eligible assessee’ absent TPO’s variation to international transactions

Delhi ITAT quashes final assessment order passed u/s 144C(1) in case of assessee (a foreign partnership firm engaged in distribution of programming services by non-standard television) as not

Apr 16, 2018

ITAT: Rejects re-characterization of distribution activity as service absent difference between form & substance

Hyderabad ITAT rejects TPO’s re-characterization of assessee’s distribution transaction as a service transaction requiring markup for AY 2011-12; Perusing the agreement between assessee and its AE [for distribution

Apr 13, 2018