ITAT Hyderabad Upholds Rs 1.33 Crore TP Adjustment on Hammond Power Over Service Fees

Hammond Power Solutions Private Limited Vs DCIT (ITAT Hyderabad) Transfer Pricing Quest – Intra-Group Services : Not Mere existence of agreement but robust evidence of receipt of services would be required: ITAT Hyderabad Hammond Power Solutions Private Limited (the assessee) is a company engaged in the business of manufacturing and sale of electrical distribution and power transformers, including maintenance and installation services. The assessee filed its return of income for A.Y. 2017-18 on November 30, 2017, declaring a total income of Rs. 97,15,600/-. Due to international tran...