ITAT: Can’t add markup on expense reimbursements as merely balance-sheet entries; Follows earlier-order

Hyderabad ITAT deletes TP-addition in respect of reimbursement of expenses to AE for AY 2012-13; Notes that co-ordinate bench in assessee’s own case for AY 2009-10 and 2010-11

Jan 09, 2018

ITAT: Remits assessee's functional profile evaluation; For different-year-end filter, distinguishes McKinsey HC ruling

Bangalore ITAT rules on  selection of comparables for the assessee providing IT-enabled services (‘ITES’) to AEs for AY 2012-13; Refuses to exclude Accentia and TCS E-serve solely

Jan 09, 2018

ITAT: Excludes Bodthree, remits Tata Elxsi & Infosys comparability for software developer

Bangalore ITAT, pursuant to disposal of assessee’s miscellaneous petition wherein earlier Tribunal order was recalled for the limited purpose of adjudicating certain comparables, reevaluates comparability of 3 companies

Jan 08, 2018

ITAT: Rejects DRP’s entity level TP-adjustment; Follows Keihin Panalfa & Alstom Projects HC-rulings

Chennai ITAT reverses DRP order making entity level TP-adjustment, rules that TP-adjustment has to be made only in respect of transactions with AE after comparing the transaction made

Jan 08, 2018

ITAT: Deletes concealment penalty as TP-adjustment had no effect on income of assessee

Delhi ITAT allows assessee's appeal for AY 2006-07, deletes penalty u/s 271(1)(c) in respect of TP-adjustment on account of the wrong deduction of export incentive from cost of

Jan 08, 2018

ITAT: Dismisses miscellaneous petition seeking adjudication on certain grounds absent arguments during hearing

Bangalore ITAT dismisses assessee's miscellaneous petition alleging that certain grounds raised by assessee were not decided by ITAT: Notes that assessee's appeal was decided based on chart filed

Jan 08, 2018