Rework Transfer Pricing Addition as Cyber Media Research Was Comparable to Support Services: ITAT Mumbai

ACIT Vs APL Logistics (India) Pvt. Ltd. (ITAT Mumbai) In ACIT Vs APL Logistics (India) Pvt. Ltd., the Mumbai ITAT dealt with cross appeals filed by the Revenue and the assessee, along with cross-objections filed by the assessee, for Assessment Year 2012-13 concerning transfer pricing adjustments and an alleged double addition of foreign exchange loss reversal. The assessee, a wholly owned subsidiary of APL Logistics Limited, Singapore, was engaged in providing logistics and freight forwarding support services in India. The assessee had entered into international transactions with its Associate...