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

Ipsita Das

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

Relief to Sabre Travel Network (India) : ITAT deletes Additions of Foreign Exchange Loss incurred...

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

Relief to MUFG Bank, Comparable Uncontrolled Price method for ALP bench marking International...

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

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...

AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]

In as significant case of Zydus Healthcare, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that AO is bound to refer to TPO for computation of domestic specified transactions....

TPO not to Step into the Shoes of Assessee to Decide Prudence of Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal( ITAT ), Mumbai Bench, has recently, in an appeal filed before it, held that the TPO shall not step into the shoes of the assessee to decide the prudence of the...

TPO failed to provide details of Comparables obtained u/s 133(6), restores the issue for providing Information: ITAT grants relief to HSBC

TPO failed to provide details of comparables obtained u/s 133(6), restores the issue for providing information, as a relief to HSBC Professional Services. The Mumbai Bench of Income Tax Appellate...

Relief to HP: ITAT allows Working Capital Adjustment Claim [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bengaluru Bench allowed working capital adjustment claim, thereby granting relief to M/s. Hewlett-Packard (India) Software Operation Pvt. Ltd. The...

Relief to Motorola: ITAT holds AMP Expenses and Warranty Expenses not separate International Transaction [Read Order]

In a major relief to M/s. Motorola Mobility India Private Limited, the Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that AMP expenses and warranty expenses not separate international...

Determination of ALP for Royalty Payment: Delhi HC dismisses Income Tax Department’s Appeal against Amway India [Read Order]

In a recent ruling in favour of the assessee-Amway India Enterprises, a Division Bench of the Delhi High Court comprising Justice Manmohan and Justice Manmeet Pritam Singh Arora held that, “the mere...

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