Purchase price of generic unpatented APIs from associated enterprises can be benchmarked against the price of same APIs

Purchase price of generic unpatented APIs from associated enterprises can be benchmarked against the price of same APIs sold by other independent producers despite difference in quality

The Mumbai bench of the Income Tax Appellate Tribunal (Tribunal) recently pronounced its ruling in the case of Serdia Pharmaceuticals India Private Limited (Taxpayer), on transfer pricing issues arising from the import of Active Pharmaceutical Ingredients (API) from its Associated enterprises (AEs) for production of drugs in fi

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