← All Phrases

“transfer pricing adjustment”

Transfer PricingSection 92CSection 92C2,153 judgments

The decision most relied on for transfer pricing adjustment is CIT v. EKL Appliances Ltd. (345 ITR 241), cited in 422 judgments on BharatTax.

Leading authorities on transfer pricing adjustment

CIT v. EKL Appliances Ltd.
345 ITR 241 · 2012 · High Court
422
citing judgments

Transfer pricing adjustments for outstanding receivables are permissible only if the Tax Officer establishes, through analysis over a period, a pattern indicating an international transaction intended to benefit an associated enterprise. The Tax Officer cannot question purely business decisions like royalty payments or exceed jurisdiction by applying cost-benefit analysis to determine the arm's length price of services.

CIT v. Everest Kento Cylinders Ltd.
378 ITR 57 · 2015 · High Court
304
citing judgments

Corporate guarantee fees are subject to transfer pricing rules, and adjustments may be needed to account for differences between corporate guarantees and more liquid bank guarantees when determining arm's length price.

Maruti Suzuki India Ltd. v. CIT
381 ITR 117 · 2016 · High Court
220
citing judgments

The Bright Line Test (BLT) is not a recognized method under the Income-tax Act and Rules for benchmarking advertising, marketing, and promotion (AMP) expenses or for determining the existence of an international transaction or its Arm's Length Price. The Revenue must first establish the existence and price of an international transaction before seeking an ALP adjustment.

Sony India (P) Ltd. v. DCIT
114 ITD 448 · 2008 · ITAT
131
citing judgments

For transfer pricing purposes, functionally dissimilar entities that have significant business differences must be excluded from the list of comparables for benchmarking analysis. It also provides guidance on the non-allocation of advertisement, marketing, and promotion (AMP) expenses to other entities when incurred solely for the assessee's business.

CIT v. Cushman & Wakefield (India) (P.) Ltd.
367 ITR 730 · 2014 · High Court
120
citing judgments

This case determines the Arm's Length Price (ALP) for intra-group services and reimbursements, clarifying when charges constitute services warranting a mark-up versus mere pass-through costs. It provides guidance on the circumstances under which an ALP adjustment, including an ALP of 'nil', is appropriate for such transactions.

Whirlpool of India Ltd. v. DCIT
381 ITR 154 · 2016 · High Court
119
citing judgments

Advertisement, Marketing, and Promotion (AMP) expenditure incurred by an Indian entity directly benefits its own business and cannot be automatically treated as an international transaction for global brand building by associated enterprises without specific statutory provisions or proper analysis.

CIT v. Tata Autocomp Systems Ltd.
56 Taxmann.com 206 · 2015 · High Court
119
citing judgments

When determining the arm's length price for interest on a foreign currency loan advanced to an Associated Enterprise, the Indian Prime Lending Rate is not applicable. Instead, the interest rate should be benchmarked based on the prevailing foreign currency rate, such as EURIBOR, or the rate in the country where the loan is received/consumed.

Kolhapur Canesugar Works Ltd. v. Union of India
2 SCC 536 · 2000 · Reported
117
citing judgments

Section 6 of the General Clauses Act, which preserves rights and liabilities under repealed statutes, does not automatically apply to a mere omission of a statutory provision unless the omitting enactment specifically provides for it, thereby affecting the continuation of pending proceedings.

Judgments citing transfer pricing adjustment

Sureprep (India) P.Ltd, Mumbai vs. ITO WD 8(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 5855/MUM/2014[2011-12]Status: DisposedITAT Mumbai03 Nov 2023AY 2011-12

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2243/मुं/2013 (िन.व.2009-10) आअसं.5523/मुं/2013 (िन.व.2010-11) आअसं.5855/मुं/2014 (िन.व.2011-12) M/S. Sureprep (India) Private Limited, 4Th Floor, Dhantak Plaza, Makwana Road, Marol, Andheri(E), Mumbai – 400 034. Pan: Aahcs-9039-H ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 8(3)(2), 2Nd Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Dalpat Shah & Ms. Arti Shah "ितवादी "ारा/Respondent By : Ms. Samrudhi Dhananjay Hande & Shri P.D. Chougule सुनवाई क" ितिथ/ Date Of Hearing : 25/08/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 03/11/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: These Three Appeals By The Assessee For Assessment Years 2009-10, 2010-11 & 2011-12 Are Taken Up Together For Adjudication As The Issues Involved In These Appeals Are Identical. The Appeal Of Assessee For Assessment Year 2009-10 Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [ In Short ‘The Cit(A)’ ], Dated 02/01/2013

For Appellant: Shri Dalpat Shah & Ms. Arti ShahFor Respondent: Ms. Samrudhi Dhananjay Hande &
Section 10ASection 10A(7)Section 143(3)Section 1O

made to Transfer Pricing Officer (TPO) by the Assessing Officer. The Assessing Officer accepted the price charged from its AE hence, made no transfer pricing adjustment. Thereafter, in a self contradictory stand the Assessing Officer 4 ITA NO. 5523/MUM/2013(A.Y. 2010-11) held that the assessee has earned extra ordinary ... with its holding company Sureprep LLC for providing the services. The assessee is charging $50 per tax return. The Assessing Officer made no transfer pricing adjustment in respect of international transactions entered into by the assessee with its AE. In other words, the Assessing Officer accepted the arm’s length

Sureprep (India)P.Ltd, Mumbai vs. ITO 8(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 5523/MUM/2013[2010-11]Status: DisposedITAT Mumbai03 Nov 2023AY 2010-11

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2243/मुं/2013 (िन.व.2009-10) आअसं.5523/मुं/2013 (िन.व.2010-11) आअसं.5855/मुं/2014 (िन.व.2011-12) M/S. Sureprep (India) Private Limited, 4Th Floor, Dhantak Plaza, Makwana Road, Marol, Andheri(E), Mumbai – 400 034. Pan: Aahcs-9039-H ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 8(3)(2), 2Nd Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Dalpat Shah & Ms. Arti Shah "ितवादी "ारा/Respondent By : Ms. Samrudhi Dhananjay Hande & Shri P.D. Chougule सुनवाई क" ितिथ/ Date Of Hearing : 25/08/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 03/11/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: These Three Appeals By The Assessee For Assessment Years 2009-10, 2010-11 & 2011-12 Are Taken Up Together For Adjudication As The Issues Involved In These Appeals Are Identical. The Appeal Of Assessee For Assessment Year 2009-10 Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [ In Short ‘The Cit(A)’ ], Dated 02/01/2013

For Appellant: Shri Dalpat Shah & Ms. Arti ShahFor Respondent: Ms. Samrudhi Dhananjay Hande &
Section 10ASection 10A(7)Section 143(3)Section 1O

made to Transfer Pricing Officer (TPO) by the Assessing Officer. The Assessing Officer accepted the price charged from its AE hence, made no transfer pricing adjustment. Thereafter, in a self contradictory stand the Assessing Officer 4 ITA NO. 5523/MUM/2013(A.Y. 2010-11) held that the assessee has earned extra ordinary ... with its holding company Sureprep LLC for providing the services. The assessee is charging $50 per tax return. The Assessing Officer made no transfer pricing adjustment in respect of international transactions entered into by the assessee with its AE. In other words, the Assessing Officer accepted the arm’s length

Sureprep (India) P.Ltd, Mumbai vs. ITO RG 8(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 2243/MUM/2013[2009-10]Status: DisposedITAT Mumbai03 Nov 2023AY 2009-10

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2243/मुं/2013 (िन.व.2009-10) आअसं.5523/मुं/2013 (िन.व.2010-11) आअसं.5855/मुं/2014 (िन.व.2011-12) M/S. Sureprep (India) Private Limited, 4Th Floor, Dhantak Plaza, Makwana Road, Marol, Andheri(E), Mumbai – 400 034. Pan: Aahcs-9039-H ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 8(3)(2), 2Nd Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Dalpat Shah & Ms. Arti Shah "ितवादी "ारा/Respondent By : Ms. Samrudhi Dhananjay Hande & Shri P.D. Chougule सुनवाई क" ितिथ/ Date Of Hearing : 25/08/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 03/11/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: These Three Appeals By The Assessee For Assessment Years 2009-10, 2010-11 & 2011-12 Are Taken Up Together For Adjudication As The Issues Involved In These Appeals Are Identical. The Appeal Of Assessee For Assessment Year 2009-10 Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [ In Short ‘The Cit(A)’ ], Dated 02/01/2013

For Appellant: Shri Dalpat Shah & Ms. Arti ShahFor Respondent: Ms. Samrudhi Dhananjay Hande &
Section 10ASection 10A(7)Section 143(3)Section 1O

made to Transfer Pricing Officer (TPO) by the Assessing Officer. The Assessing Officer accepted the price charged from its AE hence, made no transfer pricing adjustment. Thereafter, in a self contradictory stand the Assessing Officer 4 ITA NO. 5523/MUM/2013(A.Y. 2010-11) held that the assessee has earned extra ordinary ... with its holding company Sureprep LLC for providing the services. The assessee is charging $50 per tax return. The Assessing Officer made no transfer pricing adjustment in respect of international transactions entered into by the assessee with its AE. In other words, the Assessing Officer accepted the arm’s length

Citigroup Global Markets (India) Private Limited, Mumbai vs. DCIT, Circle-4(1), Mumbai

In the result, appeal filed by the assessee is partly allowed

ITA 72/MUM/2018[2010-11]Status: DisposedITAT Mumbai25 Oct 2023AY 2010-11

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Citigroup Global Markets (India) Private Limited The Dcit 1402, 14Th Floor, Circle -4(1), First International Financial Aaykar Bhavan Centre, Vs. M.K. Road, Bandra Kurla Complex, Mumbai-400 020 G Block, Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No.Aaecs7234F Citigroup Global Markets (India) The Jcit (Osd) Private Limited 4(1)(1) 1402, 14Th Floor, Room No. 640, 6 Th Floor, First International Financial Aaykar Bhavan, Centre, Vs. M.K. Road, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Shri Nishant Thakkar & Mr. Jasmin Amalsadwala, Ars Revenue By : Ms. Vranda U. Matkari, Dr Date Of Hearing: 04/08/2023 Date Of Pronouncement : 25/10/2023

For Appellant: Shri Nishant Thakkar &For Respondent: Ms. Vranda U. Matkari, DR
Section 143(3)Section 144CSection 73

learned CIT (A), who passed an appellate order on 12th October, 2017, partly allowing the appeal. The learned CIT (A) while adjudicating the transfer pricing adjustment directed the learned Transfer Pricing Officer to a. include the IDC India Limited in comparability analysis as he found that comparable is engaged ... dismissed. 028. Coming to ITA number 72/M/2018 filed by the assessee, ground number 1 and 2 of the appeal with respect to the transfer pricing adjustment of ₹ ITA Nos. 72 & 45/Mum/2018 Citigroup Global Market (India) Private Limited; A.Y. 10-11 2,080,796/- pertaining to brokerage services is not pressed

Joint Commissioner of Income Tax (OSD)-4(1)(1), Mumbai vs. Citigroup Global Markets (India) Private Limited, Mumbai

In the result, appeal filed by the assessee is partly allowed

ITA 45/MUM/2018[2010-11]Status: DisposedITAT Mumbai25 Oct 2023AY 2010-11

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Citigroup Global Markets (India) Private Limited The Dcit 1402, 14Th Floor, Circle -4(1), First International Financial Aaykar Bhavan Centre, Vs. M.K. Road, Bandra Kurla Complex, Mumbai-400 020 G Block, Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No.Aaecs7234F Citigroup Global Markets (India) The Jcit (Osd) Private Limited 4(1)(1) 1402, 14Th Floor, Room No. 640, 6 Th Floor, First International Financial Aaykar Bhavan, Centre, Vs. M.K. Road, Bandra Kurla Complex, G Block, Bandra (East), Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Shri Nishant Thakkar & Mr. Jasmin Amalsadwala, Ars Revenue By : Ms. Vranda U. Matkari, Dr Date Of Hearing: 04/08/2023 Date Of Pronouncement : 25/10/2023

For Appellant: Shri Nishant Thakkar &For Respondent: Ms. Vranda U. Matkari, DR
Section 143(3)Section 144CSection 73

learned CIT (A), who passed an appellate order on 12th October, 2017, partly allowing the appeal. The learned CIT (A) while adjudicating the transfer pricing adjustment directed the learned Transfer Pricing Officer to a. include the IDC India Limited in comparability analysis as he found that comparable is engaged ... dismissed. 028. Coming to ITA number 72/M/2018 filed by the assessee, ground number 1 and 2 of the appeal with respect to the transfer pricing adjustment of ₹ ITA Nos. 72 & 45/Mum/2018 Citigroup Global Market (India) Private Limited; A.Y. 10-11 2,080,796/- pertaining to brokerage services is not pressed