Case Law Details
Court :Chennai Bench of Income Tax Appellate Tribunal
Citation : M/s Tweezerman India Private Limited Vs ACIT [2010-TII-45-ITAT-MAD-TP]
Brief : Deduction u/s.10B cannot be disallowed on ground of excess profits when the international transactions are held to be at arm’s length. The Chennai Bench of Income Tax Appellate Tribunal in the case of M/s Tweezerman India Private Limited Vs ACIT [2010-TII-45-ITAT-MAD-TP] has held that deduction of eligible profits under Section 10B cannot be disallowed on ground of excess profits where the international transactions have been held to be at arm’s length by the Transfer Pricing Officer.
Facts of the case:
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