ITAT: Deletes TP-adjustment towards foreign travel expenses noting full details furnished before TPO

Mumbai ITAT deletes disallowance of Rs 8.49 lakhs towards foreign travel expenses incurred for employees' visit to AE's place  for AY 2012-13; Observes that DRP had accepted assessee’s

Oct 10, 2018

ITAT: Upholds assessee's aggregated benchmarking approach and TNMM with external comparables

Pune ITAT allows assessee's (manufacturer of IC engines, spares, etc) ground on transfer pricing issue for AY 2010-11 and 2011-12 following ITAT rulings in assessee's own case for earlier years, dismisses Revenue's

Oct 10, 2018

ITAT: Confirms Sec 271(1)(c)-penalty order on TP-adjustment suffers from ‘ambiguity’ defect absent Explanation 7 reference

Pune ITAT upholds CIT(A)’s deletion of Sec 271(1)(c) penalty for assessee (engaged in providing design engineering and ITeS services to its AEs) for AY 2010-11; Notes that penalty

Oct 09, 2018

ITAT: Deletes TP-adjustment on outstanding AE-receivables; Follows earlier order

Ahmedabad ITAT deletes TP-adjustment on account of outstanding AE receivables for assessee engaged in business of manufacturing and trading of glass mosaic for AY 2013-14; Considers assessee’s submission

Oct 09, 2018

ITAT: Rules on comparables selection for software developer assessee, follows precedents

Bangalore ITAT rules on selection of comparables for software developer assessee for AY 2011-12; Rejecting Revenue’s plea, upholds exclusion of 7 comparables on various grounds like functional dissimilarity,

Oct 09, 2018

ITAT: Upholds application of Rs.200 – 2000cr turnover filter; Follows Genisys Integrating ruling

Mumbai ITAT dismisses Revenue’s appeal, upholds DRP’s application of Rs.200cr-Rs.2000cr turnover filter while benchmarking international transaction of assessee (engaged in rendering software development & ITeS to AE) for AY

Oct 09, 2018