Case Law Details
Case Name : ACIT Vs Tvarur & Fats Pvt. Ltd. (ITAT Delhi)
Related Assessment Year : 2016-17
Courts :
All ITAT ITAT Delhi
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ACIT Vs Tvarur & Fats Pvt. Ltd. (ITAT Delhi)
ITAT Delhi Upholds CUP Method for Palm Oil Imports – ₹2.18 Cr TP Adjustment Deleted in Tvarur Fats Case
Delhi Tribunal dismissed Revenue’s appeal & upheld the CIT(A)’s order deleting the ₹2.18 crore Transfer Pricing adjustment made on palm oil imports from AE, Inter-Continental Oils & Fats Pte. Ltd., Singapore.
Assessee, engaged in trading of palm oil, benchmarked its imports using the Comparable Uncontrolled Price (CUP) method, relying on Sunvin Oils’ price quotes derived from the Kuala Lumpur Commodity Exchange (KLCE), ...
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