TP adjustment presuming that expenses are incurred at the instance/ on behalf of AE unsustained

HP India Sales Private Limited Vs JCIT (ITAT Bangalore) Held that TP adjustment, relating to Advertisement, Marketing and Promotion expenditure incurred by the assessee, merely on the basis of presumption that expenses are incurred at the instance or on behalf of the AE is unsustainable Facts- During the course of assessment proceedings, it was noticed that international transaction with the AEs exceeded the prescribed limit, therefore, the matter was referred to the Transfer Pricing Officer (TPO) to determine the Arm’s Length Price (ALP) of the said transactions. The TPO u/s 92CA vide order...