The Karnataka High Court upheld revision proceedings in the PCIT v. TE Connectivity India Pvt. Ltd. case, ruling that the absence of a detailed order on commission payments/discounts in the original assessment rendered it erroneous and prejudicial to revenue. The court emphasized the need for explicit findings.
Income Tax Appellate Tribunal deletes addition of Rs. 16.04 lakhs, ruling CPC lacked jurisdiction for adjustment under Section 143(1) of the Income Tax Act.
Mumbai ITAT dismisses Revenue appeal, affirming CIT(A)’s decision to delete ₹37.84 Cr bogus purchase addition for a bulk drug manufacturer, citing sufficient evidence.
ITAT Delhi directs segment-wise ALP, includes Fiberfox comparable, and rejects notional interest on AE dues for Opterna Technologies, remits Section 68 issue.
ITAT Delhi deletes transfer pricing adjustment on engineering services for Lummus Technology Heat Transfer BV, citing Delhi High Court rulings.
High Court allows Mahindra & Mahindra’s appeal for AY 1990-91, permitting business loss write-off and limiting AO power on MAT book profit scrutiny.
ITAT Hyderabad upholds Rs 1.33 cr TP adjustment against Hammond Power Solutions for technical/stewardship services, citing insufficient evidence of service delivery.
ITAT Delhi sets aside assessment orders against Telenor India Communication Private Limited, finding them void as the entity merged with Bharti Airtel and ceased to exist before the orders were passed.
Read about DCIT Vs Alfa Laval India Pvt Ltd (ITAT Pune): Key findings on Transfer Pricing, rejection of Cost Plus Method, and disallowances for project costs and actuarial gains.
ACIT Vs Dalmia Cement (Bharat) Limited (Madras High Court) Re-Assessments Possible even after concluded assessment u/s 153A: Madras High Court’s Landmark Ruling in ACIT v. Dalmia Bharat Ltd. Overview: This is a significant tax law case concerning the reopening of income tax assessments beyond the normal limitation period of four years. The Division Bench of the […]
