ITAT Deletes AMP Adjustment, Rejects Bright Line Test Following HC Precedents in Louis Vuitton case

Louis Vuitton India Retail Private Limited Vs ACIT (ITAT Delhi) The ruling of the Income Tax Appellate Tribunal Delhi pertains to Assessment Year 2018–19 and arises from an appeal filed by the assessee against the final assessment order dated 27.06.2022 passed under Sections 143(3) read with 144C(13) of the Income Tax Act, 1961, pursuant to directions of the Dispute Resolution Panel (DRP). At the outset, several grounds raised by the assessee, including those relating to general assessment issues and multiple transfer pricing contentions, were not pressed and were dismissed accordingly. The ...