Chapter X cannot be invoked for making TP adjustment in case of AMP expenses

L’oreal India Private Limited Vs ACIT (ITAT Mumbai) ITAT Mumbai held that provisions of Chapter X cannot be invoked for making a TP adjustment in case of Advertisement, marketing and promotion (AMP) expenses. Facts- This is an appeal filed by the assessee, challenging the assessment order passed by the Assessing Officer/Transfer Pricing Officer (TPO for short) pursuant to the direction of the Hon’ble Dispute Resolution Panel (‘DRP’ for short) passed u/s. 143(3) r.w.s. 144C(13) r.w.s. 144B of the Act relevant to the Assessment Year (A.Y. for short) 2018- 19. The assessee has cha...