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

ITAT: Sec 142(1) notice containing show-cause for ALP-determination constitutes sufficient notice u/s 92C(3)

Mumbai ITAT upholds validity of Sec 142(1) notice issued by AO for ALP-determination of assessee’s international transaction, rejects assessee’s plea that AO could not have made TP-adjustment

Aug 30, 2018

ITAT: Rejects NAV based ALP-determination for non-resident’s sale of Indian company shares

Delhi ITAT rejects TPO/DRP’s Net Asset Value (NAV) based ALP for benchmarking consideration for sale of shares in an Indian company by assessee (Singapore company) to

Aug 30, 2018

ITAT: Shilpa Shetty's free brand ambassadorship services to Rajasthan Royals outside TP-ambit, deletes adjustment

Mumbai ITAT deletes Rs.3.42cr TP-adjustment for Shilpa Shetty (assessee) for AY 2010-11 towards brand ambassadorship services rendered free of cost, rejects applicability of TP-provisions; Notes that assessee was

Aug 28, 2018