ALP cannot be determined arbitrarily, It must be by one of methods prescribed U/s. 92C, RW rule 10B

ITAT MUMBAI BENCH ‘K’ Greaves Cotton Ltd. versus Income-tax Officer IT Appeal NO. 3103 (MUM.) OF 2011 [ASSESSMENT YEAR 2003-04] Date of Pronouncement – 08.02.2013 ORDER P.M. Jagtap, Accountant Member These two appeals, one filed by the assessee being ITA No.3103/Mum/2011 and the other filed by the Revenue being ITA No. 4450/Mum/2011 are cross appeals which are directed against the order of learned CIT(Appeals)-15, Mumbai dated 10-03-2011. 2. In ground No. 1 of its appeal, the assessee has challenged the action of the learned CIT(Appeals) in setting aside the...