Transfer Pricing – Even Business Advance Has To Be At Libor ALP – ITAT Mumbai

ITAT MUMBAI “K ” BENCH I.T.A. No. 7872/Mum/2011 Assessment Year: 2007-08 Aurionpro Solutions Ltd. Vs. The Addl Commr of Income Tax Date of Pronouncement: 12th, April 2013 ORDER PER : VIJAY PAL RAO, JM This appeal by the assessee is directed against the assessment order dated 18.10.2011 passed u/s 143(3) r.w.s 144C(13) in pursuant to the directions of the Dispute Resolution Panel (DRP) dated 25.8.2011 passed u/s 144C(5) of the act for the Assessment Year 2007-08. 2 The assessee has raised the following grounds in this appeal: 1. On the facts and circumstances of the...