Assessment passed in the name of Non-Existing Entity: Appeal against Sony Mobile Communications to be heard by Chief Justice
The Delhi High Court while considering an appeal filed by the department against Sony Mobile Communications India, a two-judge bench of the Delhi...
![Disallowance made for Exempted Income not to be added for Computation of Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Exempted-Income-book-profit-ITAT-Taxscan.jpg "Disallowance made for Exempted Income not to be added for Computation of Book Profit: ITAT [Read Order]")
![Sec 80IB does not mandate Separate Books of Accounts for claiming Deduction: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/05/Sec-80IB-Books-of-Accounts-Madras-High-Court-Taxscan.jpeg "Sec 80IB does not mandate Separate Books of Accounts for claiming Deduction: Madras High Court [Read Judgment]")
![ITAT allows Claim of Deduction u/s 80C to Hero Motocorp [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/ITAT-claim-of-deduction-Hero-Motocorp-Taxscan.jpg "ITAT allows Claim of Deduction u/s 80C to Hero Motocorp [Read Order]")
![ITAT upholds ALP of corporate guarantee as determined 0.43% p.a, directs the AO to vacate the upward transfer pricing adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/ITAT-ALP-corporate-guarantee-AO-upward-transfer-pricing-adjustment-Taxscan.jpg "ITAT upholds ALP of corporate guarantee as determined 0.43% p.a, directs the AO to vacate the upward transfer pricing adjustment [Read Order]")
![Zynga India is no Risk Company, Risk Adjustment should be provided to Comparables: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Zynga-India-risk-company-risk-adjustment-ITAT-Taxscan.jpeg "Zynga India is no Risk Company, Risk Adjustment should be provided to Comparables: ITAT [Read Order]")
Relief to UL India Pvt Ltd: ITAT remitted the issue of determination of ALP in the certification services segment back to TPO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench remitted the issue of determination of ALP in the certification services segment back to Transfer Pricing Officer (TPO). The assessee, UL...
![Relief to UL India Pvt Ltd: ITAT remitted the issue of determination of ALP in the certification services segment back to TPO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-ALP-certification-services-segment-Taxscan.jpg "Relief to UL India Pvt Ltd: ITAT remitted the issue of determination of ALP in the certification services segment back to TPO [Read Order]")
'Mere disallowance' of an Expense does not warrant a Penalty for filing inaccurate particulars of Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that “Mere disallowance” of an expense does not warrant a penalty for filing inaccurate particulars of income. The assessee, Ikea...
![Mere disallowance of an Expense does not warrant a Penalty for filing inaccurate particulars of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Mere-disallowance-expense-penalty-particulars-of-income-ITAT-Taxscan.jpg "Mere disallowance of an Expense does not warrant a Penalty for filing inaccurate particulars of Income: ITAT [Read Order]")
Relief to RayBan: ITAT deletes adjustments made by TPO on account of ALP of AMP expenses [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench in relief to Ray-Ban deleted the adjustments made by the Transfer Pricing Officer (TPO) on account of Arm’s Length Price (ALP) of Advertisement,...
![Relief to RayBan: ITAT deletes adjustments made by TPO on account of ALP of AMP expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/RayBan-ITAT-AMP-expenses-ALP-Taxscan.jpg "Relief to RayBan: ITAT deletes adjustments made by TPO on account of ALP of AMP expenses [Read Order]")
AO wrongfully assumed the jurisdiction and passed the final assessment order without passing a draft assessment order: Delhi HC [Read Judgment]
The Delhi High Court held that the Assessing Officer (AO) wrongfully assumed the jurisdiction and passed the final assessment order without passing a draft assessment order. The...
![AO wrongfully assumed the jurisdiction and passed the final assessment order without passing a draft assessment order: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/12/AO-jurisdiction-final-assessment-order-assessment-order-Delhi-High-Court-Taxscan.jpg "AO wrongfully assumed the jurisdiction and passed the final assessment order without passing a draft assessment order: Delhi HC [Read Judgment]")
Outward Freight in India except Import Freight be not considered for adjustment as it doesn't operate from transaction perspective: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench held that outward freight in India except import freight should not be considered for adjustment as it does not operate from a transaction...
![Outward Freight in India except Import Freight be not considered for adjustment as it doesnt operate from transaction perspective: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Outward-freight-in-India-import-freight-transaction-perspective-ITAT-Michelin-Taxscan.jpg "Outward Freight in India except Import Freight be not considered for adjustment as it doesnt operate from transaction perspective: ITAT [Read Order]")
Delhi HC directs TPO to determine existence of an International Transaction between the Yum Restaurants and its AE involving AMP Expenses [Read Order]
The Delhi High Court directed the Transfer Pricing Officer (TPO) to determine the existence of an international transaction between the Yum Restaurants and its AE involving Advertisement, Marketing...
![Delhi HC directs TPO to determine existence of an International Transaction between the Yum Restaurants and its AE involving AMP Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Delhi-High-Court-TPO-International-Transaction-Yum-Restaurants-AE-AMP-Expenses-Taxscan.jpg "Delhi HC directs TPO to determine existence of an International Transaction between the Yum Restaurants and its AE involving AMP Expenses [Read Order]")