De Diamond ITAT Order (ITA 2355/2014)

The fundamental issue was whether manufacturing and trading constituted same or separate business. Keeping in view arguments based on facts and judicial precedents, Tribunal ruled that manufacturing was merely an extension of trading business as there was unity in command and control, single set of audited financial statements, common product and customer for the trading and manufacturing activity. Hence, all expenses incurred in setting up of manufacturing unit were to be allowed even if there were no sales from manufacturing activity and different business segments had been drawn up for Transfer Pricing Benchmarking.

De Diamond Judgment

RT Paper Delhi High Court (ITA 325/2013)

Amicus – Advocates & Solicitors successfully acted as the legal/ arguing counsel for the Company securing tax relief from Delhi High Court in a corporate tax matter involving incorrect disallowance of loss.

Rice ITAT Judgment

Rice ITAT Order (ITA 7092/2014)

In its representations before the ITAT, Amicus presented legal reasoning supported by evidence and case laws to prove that the assessee’s transactions were in the nature of high sea sales whereby it is an ordinary practice to sell goods before physical receipt of the same. The Tribunal has given a favourable finding on the question of High Sea Sales with a factual question being remanded to CIT( Appeal) for examination.

Rice ITAT Judgment

Pyramid Delhi ITAT Order (ITA 5401/2012)

In a landmark win, Amicus succeeded in deleting/ quashing the entire Transfer Pricing adjustment at Income Tax Appellate Level for Pyramid IT Consulting – a software service provider. Legal submissions made before the Tax Tribunal comprised of Transfer Pricing and Economic Arguments against inappropriate benchmarking of Indian Captive’s profitability by Tax Department relying on a comparables’ set that comprised of companies owning software products and intangibles and having a different functional profile.

Rice ITAT Judgment