ITAT: Remits DRP’s cryptic order on comparables selection for software-developer; Keeps RPT-issue open

Bangalore ITAT admits assessee’s additional ground seeking exclusion of 14 comparables on the grounds of functional dissimilarity and 4 other companies confirmed by DRP for assessee providing software

Aug 18, 2017

ITAT: Draft order passed with demand/penalty notice invalid absent Sec. 144C procedure compliance

Pune ITAT quashes draft assessment order passed by AO u/s 143(3) r.w.s. 144C(1) without following procedure laid down in Sec 144C for AY 2010-11; Notes that AO, on

Aug 18, 2017

ITAT: Not considering Jurisdictional HC-ruling on license-fee deductibility an apparent mistake, allows miscellaneous application

ITAT allows assessee’s miscellaneous application (relating to deductibility of license fee) for AY 2003-04 based on the contention that non-consideration of jurisdictional high court judgement would constitute a

Aug 18, 2017

ITAT: Excludes 4 comparables for software developer following precedents; Remits working-capital adjustment issue

ITAT excludes 4 comparables for captive service provider rendering software development services to AE for AY 2011-12; Following GT Nexus Software Pvt. Ltd ruling, ITAT excludes ‘Acropetal Technologies

Aug 18, 2017

ITAT: Upholds Infosys, Tata Elxsi exclusion for software developer assessee; Follows earlier-order

Bangalore ITAT affirms CIT(A)’s order excluding Infosys and Tata Elxsi while benchmarking assessee’s software design & development services for AY 2010-11; Follows co-ordinate bench ruling in assessee’s own

Aug 17, 2017

ITAT: Upholds notional interest adjustment @ 10.25% on excess credit to AE

Bangalore ITAT dismisses assessee's appeal against notional interest adjustment on excess credit period allowed to AEs by assessee beyond 90 days for AYs 2003-04 & 2005-06; Rejects reliance placed by

Aug 16, 2017