Section 40A(2) governs allowability of expenditure relating to specified domestic transaction

Imperial Mark Trade (I) Pvt. Ltd. Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that adjustment on account of examination of the arm’s-length price of the specified domestic transactions is not valid because of deletion of the provisions of Section 92BA (1) of the Act with effect from 1/4/2017. Provisions of Section 40A (2) of the act governs the allowability of those expenditure.

Facts- The present appeal has been filed by the assessee contesting disallowance/ transfer pricing

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