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Final Income Tax Assessment Passed beyond One Month from DRP directions Barred by Limitation: ITAT Quashes order [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) quashed a final assessment order because it was issued beyond the statutory period of...

Each Assessment Year is Independent, Earlier Orders cannot be Basis for issuing Certificate u/s 197:...

Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XVI]

ITAT Grants Major Relief to SRF Limited, Deletes Major Additions and Treats CER & TUF Subsidy...

Comparables Functionally Dissimilar, Receivables Subsumed in Working Capital: ITAT Deletes TP...

ITAT Deletes ₹444 Crore TP Adjustment on Netflix India, Rules Company is a Limited-Risk Distributor [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) deleted a transfer pricing adjustment of Rs. 444.93 crore made on Netflix Entertainment Services India LLP after holding that the company...

Delhi HC Sets Aside ITAT Order for Lack of Reasoned Findings on Functional Comparability in Transfer Pricing Case [Read Order]

The Delhi High Court has set aside an order passed by the Income Tax Appellate Tribunal (ITAT) for failing to provide adequate reasons while deciding on the functional comparability of entities in ...

Bright Line Test Cannot Be Used by AO to Make AMP Adjustments: Delhi HC [Read Order]

In a recent ruling, the Delhi High Court held that the Assessing Officer cannot use the Bright Line Test (BLT) to make transfer pricing adjustments on Advertisement, Marketing, and Promotion (AMP)...

Turnover and size have Impact on comparability: Karnataka HC Upholds exclusion of Infosys & TCS Citing size & turnover [Read Order]

In a recent case, the Karnataka High Court upheld the exclusion made on Infosysy & TCS while considering the comparable holding that turnover and size have impact on comparability ...

ITAT Holds SBI PLR Applicable for Arm’s Length Interest on INR-Denominated FCCDs [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) held that for debentures denominated in Indian Rupees (INR), the correct benchmark for arm’s length interest is the State Bank of India...

ITAT Allows Use of Extrapolated Data for Comparables With Different Year-End in ITeS Transfer Pricing Dispute Involving Goldman Sachs [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the use of extrapolated data for comparables with a different financial year-end in an ITeS transfer pricing dispute involving ...

Relief for Rolls Royce: ITAT Quashes Time-Barred Assessment Order Passed Beyond S.144C(13) Deadline [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Rolls Royce India Pvt. by quashing the final assessment order passed beyond the prescribed time limit under Section...