AD-Hoc determination of ALP by TPO Not Sustainable in Law

Ms CLSA India Private Limited Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that AD-Hoc Determination of Arm’s Length ALP) Price By Transfer Pricing Officer (TPO) Not Sustainable in Law.

FACTS –

Assessee is a subsidiary of Credit Lyonnais Securities Asia, Netherland. Return of assessee was selected for scrutiny and international transaction with its associated enterprise was referred to Transfer Pricing Officer (TPO) for determining Arm’s Length Price (ALP).

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