Existence of International Transaction Must Be Analyzed Before Benchmarking AMP Expense

PCIT-1 Vs Beam Global Spirits & Wine (India) Pvt. Ltd. (Delhi High Court) Delhi High Court held that before undertaking a benchmarking of Advertisement, Marketing and Promotion [AMP expenses], it was incumbent upon the TPO to have found that an international transaction had, in fact, occurred. Thus, appeal of evenue dismissed. Facts- These two appeals pertain to Assessment Years 2009-10 and 2012-13 and raise the question of whether the Advertisement, Marketing and Promotion expenditure incurred by the respondent-assessee would constitute an “international transaction” as contemplated u...