ITAT: Market survey benefited assessee, cannot be equated with shareholders’ activity; Deletes TP-adjustment

Delhi ITAT deletes TP-adjustment made in respect of BMW India’s payments on account of market survey and technical support services to its AE, BMW AG, for AY 2007-08; In respect

May 31, 2018

ITAT: Daikin's Indian subsidiary constitutes DAPE; Attributes profits, TP-analysis not adequately reflecting FAR

Delhi ITAT rules that the wholly owned Indian subsidiary of Daikin Industries Ltd. (assessee, a Japanese company), constitutes assessee’s dependent agent PE for AY 2006-07; Holds that

May 30, 2018

ITAT: Averages don’t always give logical results; Rejects bank quotes average as guarantee ALP

Kolkata ITAT directs adoption of 0.25%, based on free quote given by Royal Bank of Scotland (RBS), as ALP for provision of corporate guarantee by assessee to AEs

May 23, 2018

ITAT: Rejects entity level benchmarking, assessee’s domestic segment not extension of international business

Mumbai ITAT rejects TPO’s entity wide approach for benchmarking international transactions in respect of International Express and International Freight Forwarding segments of assessee [engaged in the business of

May 21, 2018

ITAT: DRP proceedings a continuation of assessment, additional evidence consideration a must

Pune ITAT sets aside DRP order rejecting admission of additional evidences filed by assessee to support its contention that its foreign AE can be selected as tested party

May 18, 2018

ITAT: Grants partial adjustment for extra-ordinary costs, emphasizes need to demonstrate with evidence

Delhi ITAT holds that any claim to treat expenditure as extra-ordinary and not arising in normal course of business "needs to be demonstrated with strict evidence”; Upholds CIT(A)’s allowance of

May 17, 2018