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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
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ITAT held that remeasurement gain on defined employee benefit plans is an operating item for TNMM because it stems from the employer-employee cost structure and not from financing or investment activity, and the AO/TPO had to recompute the PLI accordingly. In selecting comparables, the Tribunal upheld inclusion or exclusion based on functional similarity, segmental data and RPT filters, while persistent loss treatment was accepted where applied consistently. It further held that transfer pricing adjustment must be restricted to international transactions with AEs, not domestic non-AE turnover. Interest on overdue receivables was to be benchmarked separately at LIBOR plus 200 basis points after a 30-day credit period, nil ALP for intra-group service charges was deleted, and credit for advance tax and TDS was remanded for verification.
ITAT held that remeasurement gain on defined employee benefit plans is an operating item for TNMM because it stems from the employer-employee cost structure and not from financing or investment activity, and the AO/TPO had to recompute the PLI accordingly. In selecting comparables, the Tribunal upheld inclusion or exclusion based on functional similarity, segmental data and RPT filters, while persistent loss treatment was accepted where applied consistently. It further held that transfer pricing adjustment must be restricted to international transactions with AEs, not domestic non-AE turnover. Interest on overdue receivables was to be benchmarked separately at LIBOR plus 200 basis points after a 30-day credit period, nil ALP for intra-group service charges was deleted, and credit for advance tax and TDS was remanded for verification.
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