Arm’s Length Price of assets purchased from AE needs re-verification: Matter remitted

Bio-Red Laboratories (India) P. Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that arm’s length price of purchase of assets from Associated Enterprise [AEs] used for the purpose of demonstration as well as trading needs to be re-verified on the basis of documentations as provided by assessee. Accordingly, matter remitted back to AO/TPO. Facts- During the year, assessee has entered into several international transactions as per Form 3CEB and after analyzing the transactions under consideration. By relying on various decisions, TPO has rejected the submissions of the assessee. He also rejected the ...