Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
The ITAT directed deletion of transfer pricing adjustments relating to AMP expenditure and Asian regional headquarter allocations, held warranty reimbursements were pass-through with no markup, and upheld no merit in adjustments for design and development charges. Royalty adjustments were fixed per prior years (resulting in an Rs. 18,70,787 adjustment for 2001-12); royalties in specified assessment years were held at arm's length or restored to the AO for determination in light of a CA certificate. Expatriate salaries were allowed as business expenditure u/s 37(1). Section 80JJAA relief was allowed with retrospective effect as clarificatory. Refund claim for excess DDT was dismissed. Disallowances under s.40(a)(ia), repairs and maintenance, and penalty u/s 271(1)(c) were deleted.
The ITAT directed deletion of transfer pricing adjustments relating to AMP expenditure and Asian regional headquarter allocations, held warranty reimbursements were pass-through with no markup, and upheld no merit in adjustments for design and development charges. Royalty adjustments were fixed per prior years (resulting in an Rs. 18,70,787 adjustment for 2001-12); royalties in specified assessment years were held at arm's length or restored to the AO for determination in light of a CA certificate. Expatriate salaries were allowed as business expenditure u/s 37(1). Section 80JJAA relief was allowed with retrospective effect as clarificatory. Refund claim for excess DDT was dismissed. Disallowances under s.40(a)(ia), repairs and maintenance, and penalty u/s 271(1)(c) were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
