TP adjustment relating to intra-group services unjustified as benefit derived thereof duly demonstrated

Lord India Private Limited Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that transfer pricing (TP) adjustment relating to intra-group services unjustified as assessee duly demonstrated objective analysis of intragroup services rendered and kind of qualitative and quantitative benefit.

Facts- Assessee is a wholly owned subsidiary of Lord Corporation, USA and is engaged in the manufacture and sale of adhesives for construction, automotive and electronic industries.

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