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Purchase price of generic unpatented APIs from associated enterprises can be benchmarked against the price of same APIs
Case Law Details
- Case Name
- Serdia Pharmaceuticals (India) Private Limited Vs. ACIT (Mumbai Bench), ITA Nos: 2469/Mum/06, 3032/Mum/07 and 253 1/Mum/08
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Mumbai
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Purchase price of generic unpatented APIs from associated enterprises can be benchmarked against the price of same APIs sold by other independent producers despite difference in quality
The Mumbai bench of the Income Tax Appellate Tribunal (Tribunal) recently pronounced its ruling in the case of Serdia Pharmaceuticals India Private Limited (Taxpayer), on transfer pricing issues arising from the import of Active Pharmaceutical Ingredients (API) from its Associated enterprises (AEs) for production of drugs in finished dosage forms (FDFs). The Tribunal upheld the order of the Commissioner of Inco...
