https://www.taxtmi.com/caselaws?id=235065 The Tribunal partially allowed the assessee's appeal regarding the addition under section 92C of the Income Tax Act for the sale of a ship to its wholly owned subsidiary below the Arm's Length Price. The Tribunal upheld the Transfer Pricing provisions' applicability but directed the Assessing Officer to consider the insurance value of Rs.50.00 crores as the Arm's Length Price instead of the previously determined amount. The Tribunal's decision modified the order, considering certain grounds of appeal as academic and not addressing them. The order was pronounced on 30th April 2013. en-us Tue, 30 Apr 2013 00:00:00 +0530 Wed, 15 May 2013 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235065 The Tribunal partially allowed the assessee's appeal regarding the addition under section 92C of the Income Tax Act for the sale of a ship to its wholly owned subsidiary below the Arm's Length Price. The Tribunal upheld the Transfer Pricing provisions' applicability but directed the Assessing Officer to consider the insurance value of Rs.50.00 crores as the Arm's Length Price instead of the previously determined amount. The Tribunal's decision modified the order, considering certain grounds of appeal as academic and not addressing them. The order was pronounced on 30th April 2013. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235065