The assessee is not entitled to adjustment of 5 per cent as stipulated u/s 92C(2), where only one of the several methods specified u/s 92C(1) is applied by the assessee to determine the ALP

The assessee is not entitled to adjustment of 5 per cent as stipulated u/s 92C(2), where only one of the several methods specified u/s 92C(1) is applied by the assessee to determine the ALP

Executive Summary :- The Kolkata Bench ‘B’ of the Income Tax Appellate Tribunal (the “Tribunal”), on 19 November 2010, pronounced its ruling in the case of M/s J J Spectrum Silk Ltd Vs DCIT, Kolkata, ITA No. 625/Kol/2009 , on whether the Taxpayer is e

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