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Failure of Comparable as chosen by DRP, then same Loses Comparability for determining ALP: ITAT rules in favour of Tata Chemicals [Read Orer]

In a major relief to M/s. Tata Chemicals Ltd, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that on failure of comparable as...

Exclusion of OTL Comparable while Benchmarking Engineering, Technical and Inspection Segment which...

RPM is the most Appropriate Method in International Transactions of Celio Future Fashion pertaining...

No transfer pricing applicable to income from operation carried out through qualifying ships taxed...

ITAT deletes TP Adjustment by TPO towards Payment of Royalty on Technology paid to Cadbury Adams USA...

LIBOR is appropriate Benchmarking Rate for determining ALP on outbound Loan Transactions: ITAT dismisses Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi Bench ruled that LIBOR is appropriate benchmarking rate for determining Arm's Length Price (ALP) on outbound loan transactions. Therefore, the bench...

Lack of Jurisdictional Competency of TPO in Making Upward Adjustment in TP: ITAT Deletes Income Tax Addition [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the addition made by the Assessing Officer (AO) Transfer pricing Officer (TPO) on account Transfer Pricing (TP) adjustment is...

Relief to Sabre Travel Network (India) : ITAT deletes Additions of Foreign Exchange Loss incurred from Marketing Services [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently while providing relief to Sabre Travel Network (India) deleted additions made on account of foreign exchange loss incurred...

ESOP Expenses Eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) recently ruled that the expenditure towards the Employees Stock Option Plan (ESOP) is eligible for deduction under Section 37 of Income Tax...

Relief to MUFG Bank, Comparable Uncontrolled Price method for ALP bench marking International Transactions not justified: ITAT [Read Order]

In the case of MUFG Bank, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the Comparable Uncontrolled Price method for ALP bench marking international transactions is not...

Forex Loss from Trade Debtors/Creditors is Operating in Nature, No Tax Deduction: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the foreign exchange loss can be treated as operating in nature when the loss was in connection with debtors and creditors...

UPS and Printers are part of Computer Systems, 60 % Depreciation allowable: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that UPS and Printers are part of computer systems and 60 % depreciation allowable. The assessee company M/s.Eversendai...

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