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. 14

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