Arriving at Arm’s Length Price as NIL without giving contrary finding is unsustainable

Lintas India Private Limited Vs ACIT (ITAT Mumbai) ITAT Mumbai held that the TPO is not correct in arriving at the ALP as NIL on the ground that the need and benefit test is not satisfied by the assessee without giving any contrary findings with regard to the various documents including the TP study submitted by the assessee. Facts- The case of the assessee was selected for scrutiny under CASS and the statutory notices were duly served on the assessee. Since the assessee had international transaction with its Associated Enterprises (AEs), a reference was made to the Transfer Pricing Officer (T...