Transfer pricing study selecting AE as tested party duly acceptable: ITAT Mumbai

ACIT (LTU-1) Vs Glenmark Pharmaceuticals Ltd (ITAT Mumbai)

ITAT Mumbai held that assessee selecting Associated Enterprise (AE) as “tested party” justifiable. Accordingly, transfer pricing study conducted by the assessee is duly acceptable.

Facts- The assessee had entered international transactions in the nature of export of goods (formulations) to its Associated Enterprises located in 12 Countries. Besides it had exported R & D services to Switzerland, imported for

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