Monday 22 December 2014

ALP of international transaction couldn't be deemed as 'Nil' without adopting any prescribed method

IT/ILT: Where significant costs had been incurred by assessee in respect of a project and assessee had also furnished relevant invoices raised in this regard, it was incumbent upon TPO to work out ALP of relevant transactions by following some authorized method and entire cost borne by assessee could not be disallowed by taking ALP at nil


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