Delhi Tribunal rules on aggregation of closely-linked transactions and characterisation of reimbursement of advertisement expenses

Court :Delhi bench of the Income-tax Appellate Tribunal Citation : M/s Panasonic India Pvt Ltd Vs. Income Tax Officer (2010-TII-47-ITAT-DEL-TP) Brief: Recently, the Delhi bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of M/s Panasonic India Pvt Ltd Vs. Income Tax Officer (2010-TII-47-ITAT-DEL-TP), has upheld the aggregation of transactions where the Functions, Assets & Risks underlying those transactions are similar. The Tribunal also concluded that reimbursement of advertisement expenses received by a Distributor from its Associated Enterprise (AE) must be treated a...