Transfer Pricing on AMP Cannot Ignore Settled Tribunal Law: ITAT Bangalore

Alcon Laboratories (India) Private Limited Vs ACIT (ITAT Bangalore) AMP Adjustment Deleted Following Past Years; Interest on Receivables Restricted; Seminar Expenses & Double Disallowance Remanded The Bangalore Bench of the ITAT partly allowed the appeal of Alcon Laboratories (India) Pvt. Ltd. for AY 2020-21, dealing with multiple high-value transfer pricing and disallowance issues. On Advertisement, Marketing and Promotion (AMP) expenditure, the Tribunal deleted the massive adjustment of about ₹922.6 crore. It held that the issue is squarely covered in favour of the assessee by a consis...