ITAT Deletes Transfer Pricing Adjustment as TPO Used Ad Hoc Method Instead of Section 92C

Lintas India Private Limited Vs DCIT (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai decided the cross appeals filed by the assessee and the Revenue for Assessment Year 2010-11 arising from the order of the Dispute Resolution Panel (DRP). The disputes related to transfer pricing adjustments for intra-group services comprising Global Information Services (GIS), Management Service Fee (MSF) services, Multinational Client (MNC) services, and an addition on account of mismatch in Form 26AS (AIR data). The assessee had entered into various international transactions with its Associat...