ITAT: Quashes assessment citing draft-order passed on non-existent entity though final-order framed correctly

Mumbai ITAT quashes entire assessment proceedings as void & illegal considering that draft assessment order was passed in the name of non-existent amalgamating company for AY 2011-12; Notes

Jul 17, 2019

ITAT: Deletes TP-addition on performance guarantee considering assessee’s profit from arrangement, if invoked

Mumbai ITAT deletes TP-addition on account of various guarantees (performance guarantee, performance bank guarantee and advance payment guarantee) provided by assessee on behalf of its AE (wholly owned

Jul 16, 2019

SC to hear SLPs against HC-orders deciding TP-issues following Softbrands on August 6

SC lists SLPs (SAP Labs India being the lead case) against HC-orders with respect to comparables selection, application of filters etc. for AY 2003-04 for final disposal on August 6,

Jul 15, 2019

ITAT: Retains MAP accepted TP-additions despite quashing final assessment order passed without draft-order

Pune ITAT allows assessee’s additional ground and quashes the final assessment order passed by the AO sans draft assessment order for AY 2008-09, however, retains TP-adjustment on the

Jul 15, 2019

ITAT: Deletes AMP-adjustment for assessee distributor considering recovery by way of subvention income

Mumbai ITAT deletes AMP-adjustment of Rs.4.83cr for assessee (engaged in distribution of cardiovascular products, such as heart valve therapy products, cardiac pulmonary products & RMI products, Critical Care

Jul 12, 2019

ITAT: Rejects Revenue’s allegation of profits diversion using tax haven in Sun Pharma’s case

Ahmedabad ITAT deletes addition in hands of Sun Pharmaceuticals (assessee) on account of alleged diversion of profits on transfer of technology to a group entity based in USA

Jul 12, 2019