Friday, April 26, 2019

Voluntary TP adjustment made by assessee was required to be considered while determining ALP: ITAT

IT/ILT: In order to successfully apply CUP method, it is sine qua non that products under comparable uncontrolled transaction and other attending facts and circumstances, must be similar; if these factors in a comparable uncontrolled transaction are not similar or no adjustment can be carried out due to distinguishing factors, then, CUP ceases to be most appropriate method

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

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...