Saturday, September 1, 2018

Services received from AE linked to main business activity to be benchmarked together under TNMM

IT/ILT: Where intragroup services received by assessee from its AEs were closely linked to main business activity of assessee, of prospecting for exploration and production of crude oil and natural gas, they should have been benchmarked together by adopting TNMM as most appropriate method

from www.taxmann.com Latest Case Laws https://ift.tt/2LKQiNO

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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