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TAXINDIA INTERNATIONAL is the FIRST dedicated knowledge portal on International Taxation in India.

20/03/2020

TP - Exclusion of certain comparable companies is sustainable if such companies are functionally dis-similar to assessee-company and if no segmental data is available to bifurcate income & expenses in respect of ITeS & technical services: HC
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4Nzc=

TP - Where companies which are not making loss persistently cannot be excluded from final list of comparables merely because they have incurred loss in relevant AY - YES: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4Nzk=

19/03/2020

TP - Demand notice raised u/s 156 & final assessment order passed, are untenable where AO does not wait for specified 30-day period for receiving intimation from assessee for accepting variation or for no objections as prescribed u/s 144C: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NzU=

TP - CIT(A) order directing rectification of computational errors when ascertaining Profit Level Indicators of certain companies, warrants any interference with - NO: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NzQ=

18/03/2020

TP - AMP expenses issue stands decided by several HC judgements, ITAT is right in remanding it to AO for fresh examination: HC
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NzE=

TP - Assessee is granted benefit of safe harbour rules under second proviso to section 92C(2), price at which international transaction has been undertaken is deemed to be ALP: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4Njk=

17/03/2020

TP - If nature of international transaction with all countries is same, margin accepted under MAP for UK transactions may be applied for non-UK transaction as well: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4Njc=

I-T - DRP has determined exclusion of certain comparables only on basis of turnover filter & has not entertained objections of assessee qua comparables, it is fit case to remand matter to DRP: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4Njg=

13/03/2020

TP - it is fit case for remand where issue of TP adjustment by way of interest income, raised by assessee, is not looked into by Tribunal, which then sets off to determine cost of interest on the international transaction in respect of interest to be charged on loan advanced to AE: HC
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NjA=

I-T - Stay merits being allowed on recovery of duty demanded, where issue based on which duty has been demanded, is pending for consideration & settlement before SC: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTk=

12/03/2020

I-T - Doctrine of res judicata is inapplicable in income tax matters, Tribunal is even then obliged to allow certain relief to assessee merely because AO permitted same in respect of a different AY, more so where relief allowed is otherwise inadmissible in law: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTg=

I-T - It is fit case for remand where AO/DRP hold that assessee had a PE in India, without recording independent findings & without considering contention that assessee's employees provided services in India for period less than 90 days: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTc=

11/03/2020

I-T- It is settled position in law that reimbursement of travel expenses cannot be made taxable in hands of recipient: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTY=

TP - Section 92A(1) cannot be applied on standalone basis, and has to be essentially considered in conjunction of Section 92A(2), for characterizing two entities as AEs: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTU=

09/03/2020

TP - DRP is expected to pass a speaking order with regard to issue of determination of ALP, and not just merely confirm order passed by TPO: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTM=

TP - Determining TP adjustment at nil is sustainable, where TPO neither applies benefit test nor any method of benchmarking transaction as specified u/s 92C: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTQ=

06/03/2020

TP - It is fit case for remand where DRP applies foreign exchange income filter so as to reject one comparable, but omits to consider such filter in respect of another comparable company: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTI=

TP - Loan is advanced in foreign currency, then either LIBOR or EUROBOR rate is an appropriate base for benchmarking rather then applying Indian banks rate: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4

05/03/2020

TP - Business profile of comparable selected for benchmarking is diverse than assessee, such company cannot be included in final list of comparables: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NDk=

TP - It is settled position in law that turnover filter is valid criteria for exclusion of comparable companies: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NTA=

04/03/2020

TP - Company which outsources all its activities can be adopted as comparable to company engaged in providing IT-enabled service: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NDY=

I-T - Payments made for FTS is not liable for disallowances for failure to deduct TDS, then consequent reimbursement of expenses in relation to provision of technical services cannot be disallowed: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NDU=

03/03/2020

I-T - Demurrage charges of preceding AY were not debited to P&L account nor claimed as deduction from total income for current AY, no disallowance u/s 40(a)(i) is warranted for faliure to deduct TDS: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4NDA=

TP - TP adjustment on account of interest on receivables is sustainable, where assessee company is debt-free, owing to which no question of such interest arises: ITAT
http://taxindiainternational.com/case_lawDesc.php?qwer43fcxzt=MTA4Mzk=

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