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Average price of Kingsman Publication report and NYBOT to be considered for computing ALP
Case Law Details
- Case Name
- ACIT Vs Cargil India Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Cargil India Pvt. Ltd. (ITAT Delhi)
ITAT Delhi affirmed direction of CIT(A) to take average of prices reported in Kingsman Publication report and New York Board of Trade [NYBOT] price after converting FOB as per Comparable Uncontrolled Price [CUP] for purpose of computing ALP on issue of import sugar.
Facts- The assessee company is a company incorporated as per the provisions of Companies Act, 1956. The case of assessee was selected for scrutiny. AO made additions/ disallowances of discounting charges amounting to Rs.5,72,77,093/-; deemed dividend amounting to Rs.40,8...
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