Case Law Details
Case Name : ACIT Vs. Agility Logistics Pvt. Ltd. (ITAT Mumbai)
Related Assessment Year : 2004- 05
Courts :
All ITAT ITAT Mumbai
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ACIT Vs. Agility Logistics Pvt. Ltd. (ITAT Mumbai)- ITAT held that the sharing of net revenues (i.e., amounts billed to customers less third party costs) in a 5o:5o ratio between the origin and destination companies in a consistent manner in controlled as well as uncontrolled transactions, constitutes a comparable uncontrolled price (CUP). In coming to its conclusion, the Tribunal took into account the fact that the 5o:5o model is a common industry practice.
INCOME TAX APPELLATE TRIBUNAL. MUMBAI
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