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Higher price paid to AEs accepted as ALP under the CUP Method, provided there is sufficient economic and commercial justification evidencing the same
Case Law Details
- Case Name
- Cheminova India Ltd Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2002- 2003
- Courts
- All ITAT, ITAT Mumbai
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Court :Mumbai Bench of the Income-tax Appellate Tribunal
Citation :Cheminova India Ltd Vs ACIT, Mumbai (ITA No. 4865/Mum/05) [13 ITAT INDIA 240 (Mum)]
Brief : Recently, the Mumbai Bench of the Income-tax Appellate Tribunal (‘the Tribunal’) in the case of Cheminova India Ltd Vs ACIT, Mumbai (ITA No. 4865/Mum/05) [13 ITAT INDIA 240 (Mum)]., accepted higher price paid to its Associated Enterprises (‘AEs’) (as compared to unrelated parties) under Comparable Uncontrolled Price (‘CUP’) Method to be the arm’s length price (‘ALP’) based on the economic and commercial justification.
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