HC: Upholds TP-adjustment deletion as Revenue failed to justify ALP-determination with comparables

Gujarat HC upholds Tribunal's deletion of TP-adjustment on information technology enabled services availed by assessee from its AE for AY 2011-12 and 2012-13;  Notes that AO/TPO made adjustment

Oct 09, 2018

ITAT: Outstanding AE-receivables not separate international transaction considering sales margin can factor interest

Jaipur ITAT rules on TP-adjustments on purchases from AE and notional interest on outstanding AE-receivables for AY 2008-09; Regarding TP-adjustment on purchases of bakery shortening from AE, notes

Oct 09, 2018

ITAT: Quashes assessment absent issue of mandatory Sec 143(1) notice by competent AO

Kolkata ITAT quashes assessments for assessee (engaged in printers, accessories and software development services) as “non-est in the eyes of law” absent issue of mandatory notice u/s 143(1) for AYs

Oct 08, 2018

HC: Upholds ITAT’s grant of stay beyond 365 days; Delay not attributable to assessee

Punjab and Haryana HC dismisses Revenue’s appeal for AY 2011-12, upholds ITAT order extending stay to assessee beyond 365 days; Notes that the Tribunal had initially granted a

Oct 05, 2018

ITAT: No adjustment on intra-group services between domestic related-parties absent markup; Remits issue

Delhi ITAT remits adjustment in respect of service fee received by assessee (shown under ‘other income’) from domestic related party enterprises for AY 2008-09; Noting that the entity which

Oct 05, 2018

HC: Disposes writ petition granting liberty to assessee to file appeal before ITAT

Madras HC disposes assessee's writ petition, holds that assessee can file appeal before ITAT within 4 weeks who would be in a position to clarify the status of original

Oct 05, 2018