For an asset intensive industry, the appropriate Profit Level Indicator

Court: Mumbai Bench of the Income-tax Appellate Tribunal Citation: ACIT Vs. Fiat India Pvt. Ltd. [2010-TII-30-ITAT–MUM-TP] Brief- In a recent ruling in the case of ACIT Vs. Fiat India Pvt. Ltd. [2010-TII-30-ITAT–MUM-TP], the Mumbai Bench of the Income-tax Appellate Tribunal (“the Tribunal”), while deciding the case in favor of the assessee, accepted various adjustments made while determining arm’s length price (“ALP”), as they had been sufficiently explained and evidenced by the assessee. The Tribunal also ruled that for an asset intensive industry, the approp...