TNMM vs “Other Method” & Validity of Berry Ratio under Limited Risk Model: ITAT Delhi in Verizon India Case

Verizon Communications India P. Ltd. Vs ACIT (ITAT Delhi) TNMM vs “Other Method” & Validity of Berry Ratio under Limited Risk Model: ITAT Delhi in Verizon India Case Introduction The Delhi ITAT’s ruling in Verizon Communications India Pvt. Ltd. (AY 2012-13) provides a nuanced and practically significant exposition on transfer pricing jurisprudence, particularly in the context of selection of the Most Appropriate Method (MAM), validity of Limited Risk Models (LRM), and the implicit recognition of cost-based profit level indicators akin to the Berry Ratio. In an era where tax authoriti...