ITAT: Loss-making comparables excludible where losses due to extraordinary factors affecting comparability 

Loss making comparables can't be excluded without further analysis; Necessary to examine if losses occurred during normal course of business or due to extraordinary factors affecting comparability; Under TNMM, comparables

May 27, 2013

ITAT: NSE data accepted as additional evidence, TPO directed to determine ALP afresh 

Accepted NSE's MIBID and MIBOR rates as additional evidence for interest rate; Initial data not analysed by Revenue; In interest of justice, case restored to TPO for fresh ALP computation 

May 24, 2013

ITAT: Pre-sale & marketing not comparable with commission agency, absent authority to bind principal 

Rejects TPO’s stand of comparing pre-sales support & marketing services provided by assessee as to services of commission agent; Binding principal is key feature of agency, which is missing in

May 24, 2013

ITAT: Upholds TPO's power to select new comparables without first rejecting assessee's comparables 

TPO can conduct fresh search for comparables, even without first rejecting assessee's comparables; In such case, assessee's comparables as well as TPO's comparables to be considered, especially since assessee did not file any

May 24, 2013

ITAT: Upholds ALP for license fee @ 3% of turnover; follows earlier ruling 

Accepts license fees paid @ 3% on turnover as ALP; Relies on ITAT order for earlier year, which noted that royalty at 5% to 8% was accepted as per FIPB

May 23, 2013

ITAT: DRP directed to pass speaking order; follows HC ruling in Vodafone Essar 

Quasi-judicial authority like DRP must ascribe conget and germane reasons and pass a speaking order; DRP dealt with assessee's objection in a very cursory manner; Matter remitted to DRP with

May 22, 2013

Pages

Top